Abu Dhabi Ports Company (AD Ports) has signed three heads of terms (HoTs) with the Bahrain-based Arab Shipbuilding and Repair Yard Company (ASRY) for strategic maritime and ports projects.

The collaboration aims to establish a joint venture (JV) to manage drydock facilities and shipyards, which is expected to enhance dry docking and shipbuilding capabilities within the Gulf Cooperation Council (GCC) region and explore further opportunities in other areas.

In addition to this, both parties have entered a second HoT with JM Baxi, an established Indian business that specializes in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities, promoting a circular economy by repurposing parts and minimizing waste, which ultimately helps reduce carbon emissions.

AD Ports and ASRY have also signed a final deal to explore joint investment opportunities within ports and terminals. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, emphasized the importance of establishing green ship recycling facilities to ensure vessels are retired safely and in an environmentally responsible manner.

Ahmed Al Abri, CEO of ASRY, noted that by combining their shared expertise and advanced infrastructure, they aim to strengthen their capabilities in dry-docking and shipbuilding across the GCC and beyond. He also expressed enthusiasm for developing green ship recycling capacities and entering a significant new field in port management and operation.

These new agreements enhance the maritime capabilities and reach of both parties, reflecting their commitment to sustainability and industry growth. This initiative follows the establishment of ASRY Marine, a joint venture between Noatum Maritime and ASRY.

In the first quarter of 2025, AD Ports reported a 16% year-on-year increase in net profits, amounting to AED 463.50 million, compared to AED 400.13 million in the same period last year.