Drydocks World Singapore News

Drydocks World launches an Anchor Handling Tug Supply vessel (AHTS) built at its Singapore facility in Tuas basin for Swire Pacific Offshore. The ABS-classed vessel has a bollard pull of over 200 tonnes, and is powered by four engines combined with an azimuth thruster and four tunnel thrusters. Equipment includes a Main Towing Winch, CHDs and secondary winches with an Anchor Recovery Frame for meeting Anchor handling requirements. The vessel was designed by ‘Havyard Design AS’ and can accommodate 37 people.

Background: On 27 June 2012, DDW announced that it had entered into a joint venture agreement with Pacific Carriers Limited ("PCL"), a wholly-owned subsidiary of Kuok (Singapore) Limited. The SEA Group would, following completion of the transaction, be managed as a joint venture between DDW and PCL and would be called DDW-PaxOcean Asia. Pte Ltd. Completion of this transaction was conditional on, amongst other things, the Schemes being approved by the Creditors. The creditors meeting duly approved the proposed schemes, commenting Khamis Juma Buamim, Chairman of Drydocks World and Maritime World said:  “I am pleased with this strong support and overwhelming commitment from our creditors to keep the company sustainable and poised for growth with all its great potentials.

Following on from Drydocks World Dubai LLC and Drydocks World LLC (together the “Drydocks World - Dubai”) filing for Decree 57 on 1 April 2012, Drydocks World has confirmed that its restructuring remains on track for completion in Q3 2012. On 7 May, Drydocks World - Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement (“CVAs”) restructuring proposals.

Khamis Juma Buamim, Chairman of Drydocks World and Maritime World received the Singapore's Non-Resident Ambassador (NRA) to the United Arab Emirates, HE Tee Tua Ba and his accompanying delegation and held discussions on topics of mutual interest. Discussions revolved around the company’s future business strategy and action plan for the company’s Singapore-based operations, areas of mutual co-operation and exchange of know-how and technical expertise and identifying areas of further development of relations and partnerships. Drydocks World is actively engaged with several maritime organizations at various levels in Singapore such as Association of Singapore Marine Industries (ASMI).

Drydocks World delivered Lewek Fulmar, the world’s first UT788 CD Multi-functional Ultra Deep Water Anchor Handling Tug, Supply and Service vessel (AHTS). The vessel was built at Drydocks World’s Singapore facility. The vessel has reportedly broken the world bollard pull record by an AHTS at 402.4T, surpassing the previous record of 397T. “We have now built four such vessels at our facility in Nanindah and a sixth vessel is under construction in Singapore. As a result of our proven experience and diverse capabilities in building work boats and support vessels…

Drydocks World has won a contract to build a new state-of-the-art oil well intervention Compact Semi-Submersible (CSS) vessel, representing a third order from integrated energy industries service provider Hallin Marine. The vessel will cost a total of $110m. Designed by STX Canada Marine Inc, the diesel/electric CSS’s primary function is to facilitate repair and maintenance to an existing well, via chemical injection on braided lines, extending perforation tunnels and effectively maximizing and extending the productive life of the well.

To celebrate the docking of VENTURER at the Drydocks World – Singapore yard, the vessel owners, Technip UK Limited, awarded the shipyard a check for nearly $16,000. This is the highest recognition a shipyard can obtain under Technip’s Safety Incentive Scheme for docking projects. These funds were awarded by the ship’s master, Mr. Alan Morris, and will be distributed to charity at the discretion of the shipyard’s workers who dealt with the VENTURER’s repairs and docking.

Drydocks World, a subsidiary of Dubai World, is an expanding international player in ship repair, conversion, new building and other marine related activities. Those in the Group at present include Drydocks World – Dubai, which is an amalgamation of Dubai Drydocks and Jadaf Dubai; Platinum Yachts FZCO and Platinum Yacht Management; Drydocks World – Singapore, formerly Pan United Marine and Drydocks World – Batam, a green field development in Indonesia. New building has been one of the key areas of focus for the Group. The Dubai yard in particular has seen many innovations.

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.