Drydocks World Sets up New Group

Thursday, November 08, 2007
Drydocks World, a subsidiary of Dubai World, has announced that it has successfully completed the setting up of a new group under its umbrella. Geoff Taylor, CEO of Drydocks World, said Drydocks World will monitor, control and set procedures in respect of finance, HR and other common functions in group companies. Those in the group at present include Drydocks World Dubai, which is an amalgamation of Dubai Drydocks and Jadaf, Drydocks World Singapore, formerly Pan United Marine, Drydocks World Batam, a green field development in Indonesia, Platinum Yachts FZ and Platinum Yacht management. Drydocks World Dubai is the complete amalgamation of Jadaf Shipyard and Dubai Drydocks. These companies started operations in 1979 and 1983 respectively, and, have grown to become international and regional leaders in their own fields. Jadaf have always served the smaller vessel owners whilst Dubai Drydocks, with the largest repair docks in the world, have focused on the upper end of the market. Hamed Bin Lahej, COO of Drydocks World, explained that the huge investment in Drydocks World Dubai, which now boasts 3 graving docks, two floating docks, a 120 metre load in/out hydra lift, a 3,000 and 6,0000 tonne shiplift, 44 dry berths, three of which are covered for mega yacht building and repair, a 700 tonne yacht lifter, and 6 kilometers of wet berths will further establish Dubai as a major maritime hub. This ship repair, conversion and new building group will be able to service vessels of any shape or size. Platinum Yachts, established in 2002, is responsible for the completion of the 163 meter mega yacht MY Dubai and is currently engaged in two further mega yacht projects and a number of repair and refitting contracts. Once the company is moved to new purpose built premises within Dubai Maritime City, they will be completing two 80 meter yachts, the hulls of which will be constructed in the Drydocks World Dubai Ship building yard. Platinum Yacht management will be focusing on attracting business from the increasing number of residents and visitors who will need yacht support services in this region. These services would include, but not be limited to, berths, insurance, stores and technical support through other group companies. Drydocks World Singapore, the most recent acquisition for the group, is completely aligned with the activities and expansion plans of Drydocks World. This business currently has a full order book for offshore supply, and similar vessels, until 2012.

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