ASRY: Bucking the Slowdown Trend

Maritime Reporter & Engineering News
Thursday, September 12, 2013

By all accounts, Bahrain-based ASRY (Arab Shipbuilding & Repair Yard) is managing to buck the trend of falling revenues and create an optimistic story for the Middle East ship repair industry. It is also resisting the regional trend of falling revenues and increased losses with a 6% increase year-on-year in revenues as well as staying profitable, according to the yard. The secret to the yard’s success is actually no secret at all and has been reported previously in these pages. According to Chris Potter, ASRY Chief Executive, key to recent success has been a series of three key diversifications now coming to fruition
“Due to the fact that ship operators repair schedules and scopes are still being kept to a minimum, 2013 will continue to be challenging for any yard that relies solely on ship repair,” Potter said. The biggest challenge in the ship repair industry in the Gulf is to expand its market share despite a persistent depression in the industry, while simultaneously responding to more competition from new yards opened in the past two years. Diversification in the foreseeable future is going to be imperative if repair yards are going to stay competitive – gone are the days when relying solely on ship repair was enough.”

Striking Out Offshore
The first major diversification for ASRY was ASRY Offshore Services – a division dedicated to rig repair, which accounted for approximately 44% of ASRY’s revenues in 2012, and is directly responsible for the yard’s unusually buoyant position. The second diversification was ASRY Energy Division, launched in late 2011, which is responsible for the production of specialized barges that will form the basis of unique Floating Power Plants, designed by an ASRY joint venture, ASRY-Centrax. Two hulls for these barges have been completed and launched – making ASRY the first and only Middle Eastern yard to diversify into the power generation field. Finally, the third diversification was ASRY Consulting Services (ACS), launched in 2012, which is a team of dedicated engineers, naval architects and senior yard managers that draw on ASRY’s experience to consult on a range of yard-based subjects, including yard operations and management, installation of ballast water monitoring systems and low-sulphur emission systems. ACS is the fastest growing division in ASRY with more than 18 full-time employees, and a full new business pipeline.
By branching out into these new specializations, and multiplying revenue streams, this year ASRY is not only defying the market, but also graduating from a ship-centric repair yard, to a full-service marine optimization complex.
Simultaneously, the yard has continued to invest, with an ambitious $188m expansion project now entering its final phase with the completion of a repair quay wall that brings the yard’s repair berth space up to 4km. Along with four state-of-the-art tugs being built in-yard, an offshore layout area, new sewage treatment plant, new desalination plant, and further infrastructure improvements, the company has had the courage to aggressively invest in a weak market and has been rewarded with a market leading position.

(As published in the August 2013 edition of Maritime Reporter & Engineering News -

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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


Maersk Venturer to Drill for Total

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. The contract covers one exploration well (estimated duration

Three Specialists join Wood Group

Wood Group has appointed three senior engineering specialists who will lead a new team of up to 20 people in the UK to further build Wood Group’s capability in vibration, dynamics and noise.

MacArtney, Moog Focal in Expansion Mode

Moog Focal Technologies Corporation and the MacArtney Group have agreed to intensify their multi-service partnership aiming at expanding their long-term business

Naval Architecture

DNV GL Approval for DSIC's LNG-fuelled VLCC Design

DNV GL has presented Dalian Shipbuilding Industry Company Limited (DSIC) with an Approval in Principle (AiP) certificate for a new LNG-fuelled very large crude

When Using CFD Simulations, an Analysis of Anti-Roll Tanks (ARTS)

In 2014, the behavior of anti-roll tanks was studied at MARIN by using ReFRESCO CFD simulations to fully understand the working principles.   In 2014, the behavior

Volvo Penta IPS for New Tampa Bay Pilot Boat

The new Chesapeake-class MKII launch delivered this month by Gladding-Hearn Shipbuilding to the Tampa Bay Pilots Association features integrated engine and drive from Volvo Penta.


VT Halter Launches Barge for Bouchard

VT Halter Marine, Inc. (VT Halter Marine), a company of Vision Technologies Systems, Inc. (VT Systems) and Bouchard Transportation Co. announced that Barge B. No.

McAllister Towing – 150 Years of Family Business

“Early in 1864, a young man names James McAllister stood on board a sailing vessel where he served as a mate. The boat was about to set sail from the Red Bay of

Lightering Operations Begin for Sunken Lake Barge

Lightering operations has begunn for the  tanker barge Argo sunken in Lake Erie as Unified Command responders took advantage of a favorable weather window, the U.

Middle East

Dan-Bunkering Appoints Bara as Bunker Trader

Dan-Bunkering (Middle East) DMCC is pleased to announce that Lamin Bara has joined the office in Dubai as Bunker Trader as per 1 November 2015. Lamin was

Two New Crewboats for ISS

Maritime and logistics service provider Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels.

Grandweld Delivers Vessel to ADNOC

United Arab Emirates leading shipyard Grandweld has delivered a dive maintenance and support vessel TAWAM1 to Abu Dhabi National Oil Company (ADNOC).   Grandweld

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.0836 sec (12 req/sec)