THE importance of the Saudi market to Bahrain-based Arab Shipbuilding and Repair Yard Company (Asry)’s growth strategy was highlighted at a maritime event in Dammam recently.
The ship and rig repair yard’s top official commented on the Saudi role in its business on the occasion of its participation in the First Saudi Maritime Conference and Expo organised by the Saudi Ministry of Transport and the Seaports Authority in collaboration with Seatrade and the Saudi National Maritime Transport Company (Bahri).
The event was held in the last week of November. “Not only is there a wealth of direct work to be sought in Saudi Arabia but also work on account of the presence of a large percentage of fleets in the region which take guidance from and comply with the Saudi standards,” Asry chief executive Nils Kristian Berge said.
“For example, Saudi Aramco is working continuously on upgrading its specifications which consequently requires modernisation of drilling rigs on an ongoing basis which means bringing in more business for Asry.”
Berge added that Asry’s presence at the show, which attracted some major players in the industry, particularly complemented the company’s recent move to consolidate its position by opening a new representative office in Saudi Arabia.
The office targets a quick response to the operational requirements in the drilling platform market, he added.
The show organiser Seatrade’s chairman Chris Hayman said Saudi Arabia is experiencing substantial growth in the sea ports and maritime shipping sector with land and sea projects in progress capitalised at a total value of $30 billion over the current five-year plan and total investments valued at $100 billion up to 2020.
The conference featured a series of symposia and introductory offers which presented a penetrating outlook for the key aspects of the maritime transport in the region including an overview on the development of offshore oil and gasfields in the Red Sea and the Arabian Gulf.