Features: - Tanker Operator

TECHNOLOGY – SHIPREPAIR & MAINTENANCE
Number of repairs up – revenue down
Despite the problems that
dominated shipping last year,
Bahrain-based shiprepair concern
ASRY managed to repair a record
number of vessels and even
posted a small profit.
Last year, the yard handled 168 vessels – a
26% increase on 2008. Another notable record
was the registering of 556 specifications
received, which was substantially higher than
previous years, the company said.
However, due to the general downturn in
earnings, owners were reluctant to spend more
than they had to. As a result, ASRY’s revenue
showed a sharp drop – down 37% on 2008 to
$131.4 mill.
Arab interests once again contributed the
majority of business, bringing in 79 vessels to
the value of $72.4 mill. Saudi Arabian owners
were prominent with 21 vessels repaired
amounting to $23 mill. The Arab interests
included Vela and Kuwait Oil Tanker Co
(KOTC). KOTC repaired 11 vessels during
2009 and Vela five VLCCs.
As for the international markets, despite
rock bottom steel prices and heavy
discounting from Asian yards, owners
continued to support the yard, ASRY said. The
majority of the international stemmings came
from Great Lakes Dredge & Dock co and
Maersk, who between them provided 19
vessels with an invoice value of $14.2 mill.
Other clients returned to the yard, including
established customers from Norway, India and
ASRY has embarked upon another expansion project.
Indian owners opted to use ASRY’s repair facilities.
Greece who maintained their fleets at Bahrain.
The first quarter of this year has started on a
more positive note. In his annual address,
CEO Chris Potter said, ”ASRY’s main
strengths continue to be a workforce that has
been developed over many years, an active
global network of agents, strong management
of quality and safety systems, a customeroriented
approach of building partnerships and
demonstrating fairness in how they are
treated. All these facets bode well for the
shipyard’s continued success.”
In March, ASRY signed a fleet agreement
with Sharjah-based Fal Shipping. The first
vessel docked as part of the deal was the
39,000 dwt products tanker Gulf Crown.
Yard expansion on track
Last December, ASRY awarded a design and
build contract for the construction of a 1,380
m long quay wall as part of the yard’s
expansion plans.
The $80 mill contract calls for the building
of a 1,200 m quay wall with a water depth of
12 m. It will be able to berth vessels of up
300,000 dwt. In addition, a 180 m long berth
will also be built to handle vessels of up to
40,000 dwt. The first 400 m will be ready by
the end of this year, while the whole
construction should be finished by the end of
2011.
In addition to the quay walls, support
facilities and infrastructure will also be built,
including a 200,000 sq m offshore fabrication
area. These are currently at the design stage
and a contract should be placed as
TAKEROperator went to press.
The quay was designed by UK-based
engineers Royal Haskoning. ASRY is also
investing in four new tugs, to be built at the
yard to a Sea Tech Solutions design. A
materials package for the new tugs is being
supplied by Singapore’s Pacific Ocean
Engineering & Trading.
With a bollard pull of 40 tonnes and a speed
of 11 knots at half load, the tugs are designed
for berthing, docking and offshore towage
duties.
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TANKEROperator June 2010