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INFRASTRUCTURAL DEVELOPMENT - SHIPBUILDING

ADSB lays keel of Baynunah class corvette

Posted on 08/07/2006

Abu Dhabi Ship Building (ADSB) laid on Wednesday the keel block for the 2nd ship of the 6 Ship Program. The first ship is under construction at ADSB's Strategic Partner's (CMN) Shipyard in France. The Keel Laying consists of placing the first construction block in position in the Vessel Assembly Hall. The first hull block weighs 66 Tonnes and is 23.7 Metres in Length, (the overall length of the vessel being 72 metres). This hull block contains machinery and engineering spaces for the vessels ...  >>MORE

Rolls-Royce to provide two UT 780 vessels to ESNAAD

Posted on 01/07/2006

ESNAAD a wholly owned subsidiary of ADNOC, has become the first Middle East based ship owner to order a vessel of UT-Design from Rolls-Royce. The contract covers the supply of two vessels with full of Rolls-Royce equipment Construction of the UT780 Anchorhandling Tugs (AHTS) has begun in Indonesia for delivery in January and February 2008. Based on Rolls-Royce's successful UT780 AHTS, the 56 metre long vessel has some very specific tailor-made design modifications primarily to facilitate ...  >>MORE

ADSB delivers 42-metre landing craft

Posted on 24/06/2006

Abu Dhabi Ship Building has started building the first of 12 patrol boats for the UAE Coast Guard as part of a multi-million dirham order, the company's chief said on Wednesday. William Saltzer, Chief Executive, said work has also begun on a Halmatic-designed 16-metre fast workboat at its newly set up composite vessels facility in a tie-up with UK's VT Halmatic. The first of the fast patrol boats would be ready after 18 months. Major General (Retired) Suhail Shaheen Al Marar, Vice-Chairman ...  >>MORE

Drydocks looks to shipbuilding

Posted on 24/06/2006

Shipbuilding has emerged as the second most important business for Dubai Drydocks, the region's leading ship repair facility. Dubai Drydocks has invested $60 million in its shipbuilding infrastructure designed to open a new stream of revenues. Expansion in a new phase will cost another $10-$15 million, chief executive Geoff Taylor said. "We were looking to diversify our business and we saw opportunities in the buoyant shipbuilding market," he told Gulf News. In 2005, ship repairs accounted ...  >>MORE

Dubai Maritime City proceeding according to schedule

Posted on 29/05/2006

Dubai Maritime City, one of the world's largest comprehensive maritime complexes, has announced that the project is progressing according to plan. To date, 94 percent of the reclamation work is completed, the ground improvements are 40 percent complete, and the master plan is being reviewed and revised. It is evident that Dubai Maritime City is making tremendous leaps forward towards achieving its unique vision according to schedule, and beyond all expectations. Meanwhile, 765 pre-cast ...  >>MORE

Sharjah to set up Maritime City for shipbuilding

Posted on 14/05/2006

Keen to attract heavy industries, Sharjah is developing an exclusive zone for shipbuilding and related maritime businesses. Last details of the Sharjah Maritime City plan are currently being worked out, according to Hamriyah Free Zone director-general Rashid Al Leem. The Maritime City will cover one million square metres and have facilities for drydocking, shipbuilding, ship design, warehousing and support services. Sharjah is especially focusing on the maritime, steel and cement industries ...  >>MORE

Ship repair companies in Jadaf will move to Maritime City soon

Posted on 07/05/2006

More than 270 ship repair companies operating at Jadaf Dubai will soon shift to the Dubai Maritime City once construction of the region's maritime hub is completed. Jadaf Dubai recently organised a site visit for managers and representatives of companies operating at the yard, to Jadaf's new facility under construction in the Dubai Maritime City (DMC). The visit was aimed at providing companies detailed updates on the progress of the project and to give an overview of the facilities and ...  >>MORE

Abu Dhabi Ship Building eyes Coast Guard order

Posted on 24/04/2006

Abu Dhabi Ship Building expects to win a multi-million dirham order from the UAE Coast Guard shortly to build 12 fast patrol boats, a top company official said yesterday. ADSB also announced it has tied up with the UK's VT Halmatic to set up its new Dh30 million composite vessels facility inaugurated by Shaikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Department of Economy and Planning. He said the new composite vessels facility is the largest and most advanced in the Middle East ...  >>MORE

Abu Dhabi Ship Building Company to split share

Posted on 22/04/2006

The extraordinary general assembly meeting of Abu Dhabi Shi Building Company (ADSB), held here last night, has decided to split the company's share value from Dh 10 to Dh 1. It was also decided to allow individual investors to hold more than 5% of issued shares and to open doors to foreign investors to own 25% of the shares. Last week, shareholders approved the board's proposal to distribute 15% cash dividend payable to the shareholder as of 25/4/2006. During 2005, the company posted Dh46 ...  >>MORE

15% cash dividends to ADSB's shareholders

Posted on 12/04/2006

The General Assembly of Shareholders of Abu Dhabi Ship Building (ADSB) has approved the payment of a 15% cash dividend (Dh1.5 per share) to the shareholders. The Assembly has also decided to create an AED13 million general reserve within shareholders equity, to be transferred from retained earnings. The Company's financial results for 2005 showed net profits at over Dh46 million, compared to Dh38 million in 2004. Contract earnings exceeded Dh577 million, up from Dh450 million. Total assets ...  >>MORE

Boat Show notches up US$100m in sales

Posted on 19/03/2006

The Dubai International Boat Show recorded sales worth US$100 million involving 140 boats, including at least 25 luxury yachts. Sales of marine equipment, fishing gear and accessories were also significant, underlining the growth which the Middle East marine market is currently experiencing. Companies from the UAE, Bahrain and Kuwait reported a number of deals, organisers said yesterday. UAE firm Gulf Craft sold more than US$10 million worth of boats, including a record number of its Majesty ...  >>MORE

UAE maritime industry looks for major expansion

Posted on 18/03/2006

As the UAE races towards becoming one of Middle East's leading shipbuilding and repairing hubs, the country's maritime industry, especially the shipbuilding and repairing sectors, are looking at a substantial expansion in their business volumes in the coming years. With the launch of the $60 million Dubai Drydock project consisting of a new building panel line and steel structure assembly facility in July this year, the UAE's position as a major player in the regional shipbuilding and ...  >>MORE

Dubai's demand for yachts buoyant

Posted on 15/03/2006

Waterfront projects and a rise in tourism have given a major boost to demand for luxury boats in the UAE. The thriving market has attracted 350 yacht makers to the five-day Dubai International Boat Show, which began at the Dubai International Marine Club yesterday. A total of 472 companies representing various segments of the marine industry are showcasing their products. "Dubai is going to witness huge development projects and this will enhance the marine industry in the Gulf area," Dubai ...  >>MORE

15% cash dividends to Abu Dhabi Ship Building’s shareholders and further expansion to increase capacity

Posted on 01/03/2006

The Board of Directors of Abu Dhabi Ship Building (ADSB) convened on 27th February 2006 and approved the final financial results for the year ending 31st December 2005. The Board announced that it will recommend to the shareholders at the Annual General Assembly meeting in April to approve the payment of a 15% cash dividend (AED 1.5 per share) to the shareholders of record as of 10 working days after the AGM. The General Assembly of shareholders will be invited to both and ordinary and ...  >>MORE

Esnaad, ADSB, Seaspray unveil 40m crew boat

Posted on 17/02/2006

Darwish Al Qubaisi the General Manager of ESNAAD, accompanied by representatives of Abu Dhabi Ship Building (ADSB) and SeaSpray Marine, cut the ribbon at the Keel Laying Ceremony of the new ESNAAD 40 metre Crew Boat. ESNAAD contracted for this new vessel from ADSB in October 2005. The design and fabrication of the hull is being performed by ADSB's subcontractor, Seaspray Marine at Al Hamriyah Free Zone, Sharjah. The hull, deck and superstructure will then be taken to the Abu Dhabi Ship ...  >>MORE

ADSB achieves record profits in 2005

Posted on 14/02/2006

Abu Dhabi Ship Building (ADSB) has released its preliminary financial results for year 2005 and both revenues and profits are at an all time high. The company is reporting a Net Profit of Dh46.2 million on Revenues of over 577 million for the year. With Earnings per Share (EPS) up to Dh2.40, both Net Profit and EPS have increased by more than 22% over the previous year's performance, which was also a record high at that time. The ADSB Board of Directors is scheduled to meet on 27 February ...  >>MORE

GEM-Hyundai Ink US$180 million Tankers Deal

Posted on 18/01/2006

The Dubai-based Gulf Energy Maritime (GEM) yesterday signed a US$ 180 million contract with South Korea's Hyundai Mipo Dockyard for building four high specification double hulled product/chemical tankers. The four tankers, with 47,000 tons capacity each, are scheduled for delivery in 2008 and 2009 and will be named Gulf Baynunah, Gulf Jumeirah, Gulf Muttrah and Gulf Rastaq. These four vessels will join existing GEM fleet which currently comprises six modern panamax coated tankers and five ...  >>MORE

Dubai Drydocks unveils US$60 million project

Posted on 12/01/2006

Dubai Drydocks is expected to become one of the leading shipbuilders in the region, with the launch of its US$60 million new building panel line and steel structure assembly facility in July. According to a report in Khaleej Times, the yard, whose current shipbuilding facility has a monthly turnover of 2,800 tonnes of steel, plans turning over similar volumes of steel per month for the new building. It is already building the gravity base structure for a 10,000 steel construction with an ...  >>MORE

Abu Dhabi starts building first warship

Posted on 24/12/2005

Construction of the first warship in the region began yesterday at Abu Dhabi Ship Building after the UAE's naval chief cut the first steel. he first warship, a 72-metre naval corvette under the UAE's much-acclaimed US$750 million Baynunah programme, will be built by ADSB and will be ready in late 2009. Today the company has emerged as a world-class 175,000 square metre ship repair yard with a healthy order backlog of Dh2.5 billion and a Baynunah building programme," said William Saltzer, ADSB ...  >>MORE

Drydocks wins British award again

Posted on 06/12/2005

Dubai Drydocks has received the British Safety Council 2005 Sword of Honour award for the second year running. It is one of only 40 companies in the world to have received the prestigious award. Application for the Sword of Honour is only open to those who already hold a British Safety Council five-star rating and all the applicants are judged by an independent panel to ensure that uniform standards are applied, said Geoff Taylor, chief executive of Dubai Drydocks. Dubai Drydocks is the only ...  >>MORE

Abu Dhabi Ship Building Company net profit reaches Dh15 million

Posted on 01/11/2005

Abu Dhabi Ship Building Company (ADSB) announced its financial results for the 9 months ending though September 2005. Jan-September financials shows Dh300.6 Million in revenue and Dh71 million in gross profit. Net profit reached Dh15.3 million and basic earning per share reached 79 fills. During the 3rd Quarter, ADSB received confirmation for 2 more Baynunah Class Corvettes from UAE GHQ. This brings the number of vessels in this project to 6, ADSB will build 5 while one vessel is under ...  >>MORE

Gulf Craft sets course for export expansion

Posted on 25/09/2005

The UAE's Gulf Craft Inc - one of the world's leading builders of luxury yachts - has entered a dynamic new growth phase that expands production capacity, staff numbers, and export market penetration. An 80 per cent assembly area expansion is under way at its design and construction facilities in Umm Al-Qaiwain that already extend to 11,600 square metres of covered workshops on a total site area of 43,000 square metres, according to a press release. A new 150-ton travel lift has been ...  >>MORE

Dredger built by Adyard commissioned to work in UAE

Posted on 29/08/2005

A new dredger, the first of its kind and built by Adyard Abu Dhabi, has been commissioned for operation in the UAE, a top company official said. The company has bid for rights to build two more large dredgers. "It is the first dredger built by Adyard with technology from Ellicott Dredges of the United States. We have bid for two more dredgers, three times the size of the first one," said Jim Masterton, general manager of the oil and gas division at Adyard. "We expect more contracts to build ...  >>MORE

Abu Dhabi Ship Building's revenues rise 40% to Dh220 million in H1

Posted on 02/08/2005

Abu Dhabi Ship Building Company (ADSB) announced yesterday a very strong financial results for the first half of 2005. 'The successful accomplishment of major milestones and strong support from our valued customers are cornerstone to this success" said William S. Saltzer the CEO of ADSB. "ADSB achieved major progress in the design process and start of construction of the Baynunah Corvettes program for the UAE Navy as well as other contracts for regional navies The total revenue for HI of ...  >>MORE

Designed for luxury; the first luxury yacht fully constructed in the Gulf

Posted on 27/07/2005

Al Hanem, sitting at Dubai's Al Jadaf shipyard, measures 52 metres and weighs 626 tonnes. It has six guest cabins, a gym and a Jacuzzi. Dubai is known for doing things big, so it was no surprise when news went around that the biggest yacht constructed in the Gulf was currently sitting in Al Jadaf shipyard in Dubai. Dubbed the Al Hanem, the mega yacht measures 52 metres and weighs 626 tonnes. Bobbing gently in the water, she looks ready to set sail, but not yet. Even in her unfinished ...  >>MORE

ADSB to build two more Corvettes for UAE Navy

Posted on 16/07/2005

The UAE Armed Forces confirmed its option under the Baynunah programme for two additional 72-metre naval Corvettes to be built by Abu Dhabi Ship Building (ADSB). This brings to six the total number of ships ordered on the contract to ADSB for this programme. The Baynunah Class vessels are highly advanced, 72-metre Naval Corvettes. They are being designed by Constructions Mecaniques de Normandie (CMN) of Cherbourg, France who is acting as a main subcontractor to Abu Dhabi Ship Building for ...  >>MORE

Dubai Drydocks begins US$40m shipbuilding project

Posted on 11/05/2005

With the push of a button a US$40 million (Dh147.2 million) vessel building programme was launched at the Dubai Drydocks yesterday. As the plate-cutting machine started up, a plasma arc seared through the first steel plate which will go into the building of the first of four 6,200 dwt (dead weight tonnes) doublehulled bunker tankers for Dubai and Kuwait Shipping/Dubai Shipping Company, a transport arm of D&K Holdings. Each vessel will cost US$10 million (Dh36.8 million) and the first will be ...  >>MORE

Monte Carlo Marine signs up with Dubai Maritime City

Posted on 08/05/2005

As part of its overall expansion strategy, Monte Carlo Marine, the leading Dubai-based boat building company, specializing in luxury hand-built mahogany speed boats has announced its plans to relocate to Dubai Maritime City, the world-class maritime cluster aimed at serving the needs of a diverse global marine and maritime audience. Having recently shifted base from Monaco to Dubai only a year ago, this move highlights the company's commitment to the region and in providing its customers ...  >>MORE

Exomos showcases its range of submersibles at boat show

Posted on 20/03/2005

Exomos, formerly known as Palm Submarine, a subsidiary of Dubai's Ports, Customs and Free Zone Corporation (PCFC), showcased its range of cutting-edge submersibles during their participation at the recently concluded Dubai International Boat Show at the Dubai International Marine Club. The new range of submersibles, which include Stingray, Swimmer Delivery Vehicles (SDV), Intruder Submersible Patrol Vessel (SPV) and Scuba Jet, will serve the military, scientific and recreational needs of the ...  >>MORE

Festival Marina logo unveiled

Posted on 17/03/2005

The brand identity of Dubai's latest upscale marina offering, the 150-berth Festival Marina at Dubai Festival City, was unveiled yesterday at the Dubai International Boat Show. The modernist blue and white flag logo was selected as the identity of the 240-metre-wide facility for its universal maritime appeal. "The ocean blue colour has obvious connections with water-based lifestyles and is derived directly from the Dubai Festival City identity, strengthening not only the Festival Marina ...  >>MORE

Stage set for big boat deals

Posted on 17/03/2005

Millions of dollars worth of deals are being negotiated at the Dubai International Boat Show, according to officials of some of the companies showcasing luxury vessels. The region's boat-building industry is on a roll due to strong growth prospects, fuelled by the development of marinas across the shoreline of the Gulf. More than 4,000 berths are going to be set up in the region to cater to the future growth of marinas. The prices of boats at the show also vary, depending on the ...  >>MORE

Gulf Craft sales hit Dh100m last year

Posted on 15/03/2005

Gulf Craft, the UAE-based builder of leisure boats and luxury yachts, had about Dh100 million in sales last year, company representatives said. "Considering our growth and the increasing demand for luxury yachts from around the world, we are planning to invest Dh80 million in two new shipyards in the UAE - one of which will be built at Dubai Maritime City. "The location of the second shipyard has yet to be finalised,” Mohammad Al Shaali, chairman of Gulf Craft, told Gulf News. The ...  >>MORE

Gulf Craft to unveil model of Majesty 118

Posted on 06/03/2005

UAE company Gulf Craft Inc, a builder of luxury yachts, will introduce the 2005 model of its flagship Majesty 118 at the Dubai International Boat Show later this month. The style and elegance that typify the Majesty 118 have been refined even further, the company said. The hardtop has been added and side windows re-shaped to create more attractive exterior lines, and new entertainment features include top-of-the-range audio and video equipment with plasma screens. Mechanically, a new ...  >>MORE

ADSB establishes new composite boat building facility

Posted on 16/02/2005

The well established reputation of Abu Dhabi Ship Building in the manufacture, repair and upgrade of Naval Warships and Commercial vessels is now greatly enhanced with the building of their new high-tech COMPOSITE WORKSHOPS. This new facility will provide ADSB with access to the important "Military and Commercial Composite Vessel" market which exists within the region and has many Naval and Para-Military committed followers. William Saltzer, the company's new CEO, stated: "Our new 4,400 ...  >>MORE

ADSB signs first naval contract with Oman

Posted on 16/02/2005

Abu Dhabi Ship Building (ADSB) announced yesterday the signing of a contract with the Omani Ministry of Defence, for the construction of one 64 Metre Naval Landing Craft "PROJECT MAHMAL" for the Royal Navy of Oman. According to the announcement by ADSB, the vessel has been designed locally and contains a number of special features to satisfy the customer's operational requirements. This contract represents another major milestone in the Company's short history as it is the first naval new ...  >>MORE

Abu Dhabi Shipbuilding Co. profits at Dh33 million

Posted on 07/02/2005

Profits of Abu Dhabi Shipbuilding Company has reached Dh33 million during 2004.The Board of Directors of the company has decided, in a meeting it held yesterday, to call upon the General Assembly due to meet next April, to distribute 5 percent of the company's profits in cash and 10 percent in bonus shares. (The Emirates News Agency, WAM) ...  >>MORE

Dubai Drydocks unveils shipbuilding project

Posted on 12/01/2005

Dubai Drydocks will invest Dh165 million in a new shipbuilding facility, an official said. "We have recently received permission from the government to start the new project [called Safina], which will be able to build small, medium to large vessels," said Geoff Taylor, Dubai Drydocks chief executive. Safina will be located next to the Dubai Maritime City, which is being constructed on land reclaimed from the sea. Together, these facilities will create the largest maritime hub in the Middle ...  >>MORE

Subs to float out of Jebel Ali

Posted on 07/01/2005

The Ports, Customs and Free Zone Corporation has set up a new company, Palm Submarine, to build single-and double-seater Palm Stingrays, said Sanil Mohammad, project manager. The company has started building its manufacturing facility in Jebel Ali. Construction will be completed next month, with production to begin soon thereafter. "With the three Palm islands and other maritime projects in the neighbouring Gulf countries, the market for these products has high growth potential," said Harvey ...  >>MORE

Dubai acquires Seahorse Marine

Posted on 07/01/2005

A subsidiary of Dubai's Ports, Customs and Free Zone Corporation is set to begin manufacturing leisure submarines and submersible vessels, company officials said. Ports, Customs and Free Zone Corporation (PCFC) has acquired a US-based company, Seahorse Marine, to expand its manufacturing capabilities into the leisure submarine market. "Last March, we launched Palm Marine at the Dubai International Boat Show, which was created to manufacture light boats for the needs of the growing marine ...  >>MORE

Emirates Craft sets up Ajman boat yard

Posted on 26/12/2004

Emirates Craft has set up a 3,000-square-foot boat factory in Ajman with a production capacity of 300 vessels a year, a spokesman said. "The initial production plan involves producing 200 boats for the first year, increasing to 300 after getting the feedback on the locally designed crafts," said Sultan A. Al Shaali, Emirates Craft's owner and CEO. "The initial studies on the local market show increasing interest in boating and boat owning with all the waterfront properties, the demand for ...  >>MORE

ADSB announces Q3 results

Posted on 26/10/2004

Abu Dhabi Ship Building (ADSB) yesterday announced financial results for the third quarter of 2004 that showed a substantial increase of profitability for the current year. As of the quarter ending September 2004, year-to-date net profits increased to Dh 19.5 million. Total year-to-date sales revenues increased to Dh 274.9 million, reflecting a growth of more than 142% over the same period in 2003, according to a company statement. For the third quarter alone, the company achieved net ...  >>MORE

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Quick List

ADSB lays keel of Baynunah class corvette


Rolls-Royce to provide two UT 780 vessels to ESNAAD


ADSB delivers 42-metre landing craft


Drydocks looks to shipbuilding


Dubai Maritime City proceeding according to schedule


Sharjah to set up Maritime City for shipbuilding


Ship repair companies in Jadaf will move to Maritime City soon


Abu Dhabi Ship Building eyes Coast Guard order


Abu Dhabi Ship Building Company to split share


15% cash dividends to ADSB's shareholders


Boat Show notches up US$100m in sales


UAE maritime industry looks for major expansion


Dubai's demand for yachts buoyant


15% cash dividends to Abu Dhabi Ship Building’s shareholders and further expansion to increase capacity


Esnaad, ADSB, Seaspray unveil 40m crew boat


ADSB achieves record profits in 2005


GEM-Hyundai Ink US$180 million Tankers Deal


Dubai Drydocks unveils US$60 million project


Abu Dhabi starts building first warship


Drydocks wins British award again


Abu Dhabi Ship Building Company net profit reaches Dh15 million


Gulf Craft sets course for export expansion


Dredger built by Adyard commissioned to work in UAE


Abu Dhabi Ship Building's revenues rise 40% to Dh220 million in H1


Designed for luxury; the first luxury yacht fully constructed in the Gulf


ADSB to build two more Corvettes for UAE Navy


Dubai Drydocks begins US$40m shipbuilding project


Monte Carlo Marine signs up with Dubai Maritime City


Exomos showcases its range of submersibles at boat show


Festival Marina logo unveiled


Stage set for big boat deals


Gulf Craft sales hit Dh100m last year


Gulf Craft to unveil model of Majesty 118


ADSB establishes new composite boat building facility


ADSB signs first naval contract with Oman


Abu Dhabi Shipbuilding Co. profits at Dh33 million


Dubai Drydocks unveils shipbuilding project


Subs to float out of Jebel Ali


Dubai acquires Seahorse Marine


Emirates Craft sets up Ajman boat yard


ADSB announces Q3 results