ASRY Up 7% in 3Q

Friday, October 29, 2004
Following on from the earlier success of the first half of this year, Bahrain’s ASRY, has turned in a successful third quarter series of results with an increase in business and sales, which were up some 7% on the previous quarter. In all some 28 vessels were in the yard for repairs and refurbishment, with 30 percent being in the tanker class with the majority being ULCCs and VLCCs. The yard was also kept extremely busy with other classes of vessels ranging from lpg carriers, livestock carriers through to RoRos, dredgers and general cargo.

During this third quarter over a hundred specifications were received from owners around the world with a contact award success rate of 26%. To date over 96 vessels have now been repaired in ASRY and all indications are that this year will be one of the best for the Yard for a number of years. Dock occupancy rates during this period have reflected the high volume of business with the Graving Dock achieving over 94% occupancy, similarly the two floating docks have been on a par with the previous quarter with rates in excess of 87% for Dock No. 2 and 95% for Dock No. 3.

ASRY has also been successful in securing a significant contract from KOTC for the building of a new service boat to support KOTC’s operations. This contract is the first in a new business for the yard, which it hopes to expand and is now actively talking to a number of other clients about similar projects. During this last quarter the following vessels were repaired by ASRY - Red Sea Marine Services’ 88,726 dwt tanker Al Madinah, Tanker Pacific’s 247,471 dwt VLCC Brilliant Jewel, Livestock Transport and Trading Co’s 39,266 dwt livestock carrier Al Kuwait, Unicom Management Services 154,970 dwt tanker Tropic Brilliance, Vela International’s 301,862 dwt ULCC Suhail Star, Dynacom Tanker Management Ltd’s 238,898 dwt VLCC Progress, two lpg carriers from KOTC, the 47,471 dwt Gas Al Ahmadi and the 35,643 dwt Al Badiyah, Ceres Hellenic Shipping Enterprises Ltd’s 45,655 dwt tanker Bow Pride, National Chemical Carriers' (NCC) 37,449 dwt tanker Jubail, two lpg carriers from Norway’s Bergesen, the 63,254 dwt Berge Ragnhild and the 63,296 dwt Berge Racine, and Odfjell’s 33,695 dwt chemical tanker Bow Viking.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

China's Artificial Islands in South China Sea Raises U.S. Concerns

China has been building artificial islands on reefs in the many disputed areas around the South China Sea. The unprecedented land reclamation currently being conducted

ST Marine Celebrates Naming of Vessels

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Naming Ceremony today for the second Patrol Vessel (PV),

Japan, U.S. Look to Expand Naval Cooperation

Japanese Prime Minister Shinzo Abe's push to allow Tokyo to come to the aid of an ally under attack will pave the way for closer cooperation between U.S. and Japanese forces across Asia, a top U.

Finance

OOCL Orders Six Ultra-Large Container Ships

Orient Overseas (International) Ltd. has placed a new order for six mega 20,000 teu container ships from South Korean shipbuilder Samsung Heavy Industries Co. for US$951.

Wan Hai Profits Up

Asian container operator Wan Hai Lines Ltd sees 2014 profit jump as revenue grows faster than costs.   The Taiwanese container carrier recorded a profit of TWD5.

DP World to Develop Maldives Ports

Dubai-based port operator DP World has signed an agreement with the Maldivian government to develop the archipelago’s ports and logistics industry.    Maldives' tourism minister,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1206 sec (8 req/sec)