AD Ports Group recently signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY) to enhance collaboration on strategic maritime and port projects. The signing took place in the presence of His Highness Shaikh Nasser bin Hamad Al Khalifa, the Chairman of Bapco Energies and His Majesty’s Representative for Humanitarian Works and Youth Affairs in Bahrain. AD Ports Group is recognized as a key player in global trade, logistics, and industry. These new agreements build upon the successful establishment of ASRY Marine, a joint venture between Noatum Maritime and ASRY, aimed at delivering integrated marine services in Bahrain.
The first HoT creates a Joint Venture for managing drydock facilities and shipyards, enabling both parties to utilize their existing capabilities and infrastructure. This initiative is designed to enhance drydocking and shipbuilding capabilities within the Gulf Cooperation Council (GCC) and explore further opportunities in other regions. A second HoT involves a collaboration with JM Baxi, a well-established marine services company from India. This agreement focuses on developing green ship recycling facilities that promote sustainability by repurposing ship components and minimizing waste.
By adopting responsible dismantling practices, the initiative aims to support environmental conservation and comply with the Hong Kong Convention for responsible ship recycling. The final HoT outlines plans for joint investment opportunities in ports and terminals. Through a collaborative framework, both organizations will leverage their combined expertise to identify potential areas for development. Captain Mohamed Juma Al Shamisi, Managing Director of AD Ports Group, emphasized the importance of these agreements in creating value and pursuing sustainable practices in the maritime industry.
Dr. Ahmed Al Abri, CEO of ASRY, expressed pride in the strengthened partnership, noting the focus on innovation and operational excellence as key to growth in the maritime sector. These new cooperative initiatives not only enhance maritime capabilities but also reflect a commitment to sustainability and environmental responsibility.