Abu Dhabi’s AD Ports Group has entered into three letters of intention with the Arab Shipbuilding & Repair Yard Company (ASRY), based in Manama, to enhance marine services in Bahrain and collaborate on strategic maritime and port projects.

These agreements follow the establishment of a joint venture, ASRY Marine, formed between Noatum Maritime, which is part of AD Ports Group’s Maritime & Shipping Cluster, and ASRY. This new company is dedicated to providing integrated marine services within Bahrain.

The commitments include a Head of Terms (HoT) to create a new joint venture to manage dry dock facilities and shipyards. This venture aims to strengthen drydocking and shipbuilding capabilities in the Gulf Cooperation Council (GCC) and explore opportunities beyond the region.

Additionally, the two parties signed a second letter of intent with JM Baxi, an India-based company involved in marine services, ports, logistics, and technology. This agreement focuses on establishing green ship recycling facilities, promoting a circular economy by repurposing parts and minimizing waste.

JM Baxi is recognized for its commitment to sustainable practices in ship recycling and supports the implementation of the Hong Kong Convention, which sets a global standard for responsible ship recycling.

The final HoT aims to explore joint investment opportunities in ports and terminals, further deepening cooperation between the two organizations.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, emphasized the importance of this collaboration, stating that it will create more value and growth across their operations. He highlighted the significance of establishing green ship recycling facilities to ensure that vessels are retired in a safe and environmentally responsible manner.

Dr. Ahmed Al Abri, CEO of ASRY, expressed pride in the expanded partnership with AD Ports Group. He noted that by leveraging their combined expertise and advanced infrastructure, they aim to enhance drydocking and shipbuilding capabilities across the GCC and beyond. He also mentioned the commitment to developing green ship recycling capacities, reflecting their dedication to innovation and operational excellence in the maritime sector.

The new initiatives strengthen the maritime capabilities of both parties while underscoring their commitment to sustainability and environmental responsibility.