Features

Asry: moving ahead

Asry: moving ahead



Asry optimistic for 2018

Stable oil prices, focus on core strengths, and a pipeline of new projects will underpin improved performance in the New Year for the ship repair company

January 2018

Having made positive progress through the year 2017, Arab Shipbuilding & Repair Yard (Asry), the leading ship and rig repair facility in the Arabian Gulf, has confirmed its optimism for continued growth in the New Year 2018.

Optimism for the Bahrain-based company flows from a series of developments including the planned introduction of a new corporate roadmap to develop and secure its business. The roadmap, according to Asry, has been under development and will be deployed in the New Year.

Additionally, the company is banking on stable oil prices, a relentless focus on its core strengths, and new projects in the pipeline that it hopes will give a strong push to its improved performance in the New Year.

Shaikh Daij: the forecast for 2018 is positive

Shaikh Daij: the forecast for 2018 is positive

The Asry Board, last month, reviewed the progress made over the second half of 2017, as well as the general improvement in the company’s position throughout the year. Following the board meeting, Asry chairman, Shaikh Daij Bin Salman Al Khalifa said: “Looking ahead to 2018, there is further optimism for the company’s future, with several significant new projects set to materialise next year.

“Anticipating some stabilisation in the global oil price, the company will focus on its core strengths of ship and rigrepair.”

He also said that “the coming year will also see the ongoing roll-out of its roadmap for developing and securing the business for the foreseeable future.”

While no financial details were available, Asry maintained that it overcame a challenging 2016 year and made positive progress in early 2017.

Earlier, the company, after reviewing the first half-yearly results at its 149th meeting of its Board of Directors had revealed improved performance for 2017, with increased sales year-on-year in the period January 1 to August 31, 2017.

Shaikh Daij commented after the meeting: “The Board of Directors and I reviewed the overall situation of the company, with positive developments becoming evident throughout the year. It is expected that the economic conditions in the ship repair market will improve and, consequently, the company’s operational activities are set to grow.”

“Encouragingly, the company,” he continued, “has improved its sales year-on-year from beginning of year to August 31, 2017. The forecast for 2018 is also positive, especially in light of a new corporate roadmap under development and set to be deployed in the New Year.”

 

DIVERSIFIED

Asry has also diversified into component fabrication with successful completion of a wellhead platform section for a Bapco project.

It has completed the construction of a subsea section of a new wellhead platform that was commissioned by Bapco and Schlumberger through 2H Offshore, the engineering contractor. The project marks a new diversification for Asry, adding component fabrication to complement its core functions of rig and ship repair.

“Asry has such a well-established range of maritime repair facilities and experience,” revealed Asry chief executive Andy Shaw, “that moving further into the fabrication sector makes logical sense. Projects such as this wellhead platform tripod construction fit the yard’s skill set very neatly, and it’s also very rewarding to be able to support Bapco and Bahrain in its offshore activities.”

The project was awarded by 2H Offshore, a global engineering contractor specialising in the design, structural analysis and integrity management of riser and conductor systems, used in the drilling and production of offshore oil and gas. The section constructed by Asry forms part of a Conductor supported wellhead platform (CSWP). They are a low-cost, fast-track alternative to traditional jackets, which maximise structural efficiency by using the well conductors as the foundation and structural support for the topsides.

This is the latest in series of fabrication projects Asry has won, including the completion of the Camelia project in Saudi Arabia where Asry was commissioned to design, procure and fabricate a significant number of stainless steel hoppers, pipe spools, valves, flanges and fittings, for a new catalysts production facility in Saudi Arabia.

Shaw: moving into the fabrication sector makes logical sense

Shaw: moving into the fabrication sector makes logical sense

 

DEFENCE CAPABILITIES

Meanwhile, Asry showcased its capabilities to support maritime defence organisations by exhibiting at the Bahrain International Defence Exhibition and Conference (Bidec) in Bahrain, providing a platform for yard to connect with defence sector partners.

With a dedicated team of maritime repair defence experts, Asry has completed several projects in the defence sector. Clients of the yard include national navies from the UK, US, and Bahrain, as well as large international defence contractors such as BAE Systems, Babcock, and more. 

“Defence sector customer requirements are unique,” said Shaw and continued: “A significant number of our projects come from the defence industry, and we hope to grow this support as we move forward.”

Asry is capable of repairing defence vessels in dock, on slipway and alongside, as well as deploying repair and maintenance team to specific locations, which is the case in Mina Salman, Bahrain’s main port.




More Stories



Tags