Abu Dhabi Ship Building Co News

Abu Dhabi Ship Building Co, may set up a new shipyard for commercial vessels to tap demand from the region’s booming offshore oil and gas industry, an official said. The Abu Dhabi-quoted firm, also known as ADSB, will decide next year whether to set up a separate commercial shipyard based in the Taweelah Port & Industrial Zone in Abu Dhabi. Arabain Gulf countries that produce almost a quarter of the world’s oil are boosting investment in offshore production driving up demand for rigs and service vessels in the region. The shipbuilder is hoping to capitalize on a booming offshore industry in Abu Dhabi, owner of the world’s second-largest offshore oil field in the Gulf. (Source: http://www.gulf-times.com)