AD Ports Group And ASRY Sign Agreements To Enhance Maritime Services And Sustainability Efforts

AD Ports Group has entered into three Heads of Terms (HoTs) agreements with the Arab Shipbuilding & Repair Yard Company (ASRY) to advance marine services in Bahrain. These agreements aim to foster collaboration on maritime and port projects. The signing ceremony was attended by H.H. Shaikh Nasser bin Hamad Al Khalifa, who is the Chairman of Bapco Energies.

The first agreement involves a Joint Venture (JV) to manage drydock facilities and shipyards. This JV seeks to enhance drydocking and shipbuilding capabilities within the GCC by leveraging the strengths of both parties. Additionally, it aims to explore opportunities in other regions, expanding their reach beyond the GCC.

A second HoT was signed with JM Baxi, an Indian company known for its expertise in marine services, ports, logistics, and technology. This agreement focuses on establishing green ship recycling facilities. The goal is to promote a circular economy by repurposing ship parts and reducing waste, thus lowering carbon emissions.

Green recycling involves dismantling ships responsibly to conserve resources and reduce pollution. JM BAXI supports sustainable practices in this area and adheres to the Hong Kong Convention (HKC), which sets global standards for responsible ship recycling. This partnership underscores a commitment to environmental responsibility.

The final HoT between AD Ports Group and ASRY explores joint investment opportunities in ports and terminals. A collaborative framework will be established, drawing on their combined expertise to identify potential areas for development. This initiative aims to strengthen their maritime capabilities further.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, expressed enthusiasm about these collaborations: "Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations."

Dr. Ahmed Al Abri, CEO of ASRY, highlighted the strategic importance of these agreements: "We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond."

These partnerships not only enhance maritime capabilities but also emphasize sustainability through green ship recycling initiatives. Such efforts reflect a dedication to innovation, operational excellence, and growth within the maritime sector while promoting environmental stewardship.

With inputs from WAM