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Arab Shipbuilding and Repair Yard Co. (ASRY) (ID: 3331)
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Introducing ASRY ASRY is owned by the seven OAPEC countries - Bahrain, Kuwait, Qatar, Saudi Arabia, the UAE, Iraq and Libya. The Yard was first conceived in 1968 with the aim of building and operating a well-equipped and efficient repair yard, with sufficient capacity to accommodate the VLCC/ULCCs serving the Arabian Gulf oil terminals. Click on map for an enlarged image Bahrain was chosen as the location for the first major repair facility in the Arabian Gulf due to the availability of suitable human resources, developed industrial infrastructure and favourable site that gave shelter against the rough seas and strong winds, together with satisfactory water depth and a large manoeuvring basin. Construction began at ASRY, one of the few ship repair yards in the world specifically designed to handle very large vessels, in the fourth quarter of 1975 and the Yard was completed and became operational in September 1977. Demand for ASRY's services has remained high from the beignning and due to its improved organisation and operational procedures, its productivity, capacity and capabilities the Yard is now recognised as a leader in the ship repair industry. Two floating docks able to accommodate vessels up to 120,000 dwt were added to the Yard's existing 500,000 dwt graving dock in 1992 to cope with increasing demand. ASRY is now one of the most active Pan-Arab co-operation projects. I am extremely pleased to be able to report that 2002 has been a very successful year for ASRY. This follows on from the difficult period that the yard had to endure during 2000 and 2001 and this success is in no small way due to the continuous hard work and dedication of both the management and staff at ASRY and this effort is appreciated by the Board. The success of this year has enabled ASRY to consolidate its position as one of the leading ship repair yards in the World. The result of this resurgence in business during the past year, in particular the first nine months, has meant that there has been a significant increase in the sales over the year. Ship repair sales for 2002 came in at some $88.7 million, which exceeded budget by thirteen percent (13%), which was $78.0 million. Unfortunately the year s results were adversely affected during the last three months of the year, due to the uncertainties of a possible conflict with Iraq. We all hope that this situation will be quickly resolved and that we can look forward to a busy and prosperous 2003. I am particularly pleased to note that this year ASRY has been well supported by the Arab market. This increase in sales has been achieved on the back of the success of the previous two years with sales rising from $30million in 2001 to over $46 million in 2002. This has been mainly due to the strong support given to ASRY by Vela International Marine Ltd, Kuwait Oil Tanker Co and Saudi Arabian Oil Co. The International market continues to be very important for ASRY and I am relying on our Agents around the world to continue an aggressive sales campaign with our Clients, thus ensuring that this coming year will be as successful as the last. During the year a total of 95 vessels were repaired, with some 375 specifications being received. Although the number of repairs undertaken were down on the previous year by some nine percent (9%) the actual value per contract was increased by nearly seventeen percent (17%). This is extremely encouraging due to the highly competitive market that ASRY is in and goes to show that the Yard is able to undertake high quality repairs at realistic prices. The beginning of the year saw a hectic time in the yard with four VLCCs undergoing repairs and this trend continued over the next nine months. As already mentioned there was a softening of the market during the later stages of the year due to the threat of hostilities, which unfortunately impinged on the final year-end results. During the year a total of 95 vessels docked for repairs and of these 14 vessels were over 175,000 dwt, 9 vessels were in the 70,000 to 175,000dwt range and the remaining 72 were below 70,000 dwt. The level of Dock occupancy remained constant with the Graving Dock No 1 achieving some 89.3%, Floating Dock No 2 occupancy was 88.2% and Floating dock No 3 was 92.0%. Interestingly the largest vessel repaired during the year was the Stena King, at 457,927 dwt. She was by far the largest ULCC we have had in the Yard for some years and required nearly 500 tons of steel replacement where as the largest blasting and painting contract was completed on the World Prelude 265,243 dwt. She required nearly 110,000 square metres of blasting with over 313,000 square metres of painting, making her also one of the single largest painting contracts completed by the Yard. Both of which were completed on time and to the satisfaction of the owners. These both proved to be extremely successful contracts and again illustrates the high levels of expertise ASRY has in this business and ensures that the Yard maintains its position as a world leader in the ship repair industry. ASRY is extremely conscientious about its impact on the environment and has been making strides over the past year to improve its position in this area with changes in its working practises in the Yard. ASRY recognises that as a world leader in ship repair work it has to set high standards in protecting the environment. It was for this reason that as part of its continuous efforts to protect the environment and enhance its customer services ASRY has invested more than $1.2m in the construction of a pioneering project to treat the marine sludge generated from its tank cleaning operations. All removed sludge is transported to the new Treatment Plant where it is converted from a polluting substance that could contaminate the underground water to an environmentally friendly compost material that can be used for landscaping purposes. This bye product has been used in landscaping projects both inside and outside the Yard and has proved to be a great success in the quest for developing green areas in Bahrain. In line with this development ASRY is in the final stages of preparation to receive its ISO 14001 certification. ASRY s compliance to the world renowned environmental management system expected in 2003 is another step in the Yard s commitment to the protection of Bahrain s environment. I must pay tribute to everyone within the company for the considerable effort they all made in enabling us to become one of the first ship repair yards to achieve this standard. In a similar vein with regard to environmental protection, ASRY after three years of trials was able to complete the contract for the painting of one of Vela Corporations tankers, the Al Safaniya 48,530 dwt with SEALCOAT s new poison-free antifouling coating. This new paint was developed to counter marine and atmospheric pollution and was successfully applied by one of ASRY s specialist painting contractors. The year also saw further developments taking place within the Yard, these being the construction of the second Labour Accommodation Camp, thus increasing the Yard s existing capacity by about 1000 people. Also a modern Workers Services Centre was completed, comprising of a supermarket and cafeteria, along with a new dining facility for about 500 people, located near the Floating Docks. Similarly the Yard s Production capabilities were significantly improved through the construction of four new workshops. These facilities housed the Diesel, the Hydraulic, Turbocharger and new Instrumentation workshops. As I have already touched on, ASRY has been able to develop close relationship with numerous owners this past year and as Chairman, I should like to express my thanks for their continued support during 2002. In particular I should like to thank all those from the Arab market, Norway, Greece, India, Singapore and Brazil who were amongst our list of frequent visitors together with vessels from countries including UK, Iran, Cyprus, Monaco and France. I am pleased to note that over the year there has been a high level of repeat business from owners, which is a strong endorsement of the Yard and its friendly and professional attitude. In particular I should like to give my special thanks to Vela International Marine who repaired eleven vessels at ASRY this year and to Bergesen DY ASA who had five vessels docked. Also thanks are due to the following companies who had three or more vessels docked with us, Kuwait Oil Tanker Co, Saudi Arabian Oil Co, NPCC, NSCSA/Mideast Shipmanagement, Great Lakes Dredge and Dock Co, Red Sea Marine Services, Petrobras, Springfield Shipping Co, Varun Shipping, National Iranian Tanker Co and Odfjell ASA. As is the case each year, I should like to thank all the members of the ASRY Board of Directors, representing all of the shareholder States for their continued support and co-operation during this past year. I along with the rest of my colleagues have found it a challenging year and believe that the next twelve months will prove equally as challenging for us all. I know that we are capable of rising above the current uncertainties, which face us all in the Gulf Area, and believe that we will again be successful in 2003. I should also like to thank all ASRY's staff as well as ASRYMAR and ASRY's worldwide network of Agents for their continuous support this past year, which is much appreciated by the ASRY Board. The Shipyard ASRY is well equipped with a 500,000 dwt (375m x 75m) graving dock and two floating docks for ships of 120,000 dwt and 80,000 dwt capactiy. The floating docks have dimensions of 252m x 44m (free width) and 227m x 40m respectively. Ten repair berths, with a total length of over 2,500 metres, are supported by large modern wrkshops designed to meet the highest international standards. ASRY is able to compete on equal terms with the premier ship repair yards in the Far East, Europe and the USA. The Yard's facilities are complemented by six tugs of 32 tonnes, bollard-pull, four rail-mounted 15 tonne cranes, one rail-mounted 100 tonne crane, a 200 tonne floating crane, six 12 tonne cranes on the two floating docks and a flat top barge of 10,000 dwt. Continuous investment in facillities include the construction of repair berths alongside the floating docks, two 12 tonne cranes on the floating dock outer-walls, high pressure washing and UHP hydro-blasting machines, equipment for internal tank coating work (such as refrigerated dehumidifiers, vacuum grit recovery machines, dust collectors) and a compressed air station. With well-equipped workshops, a highly skilled workforce and the support of one of the largest ship repair organisations in the Arabian Gulf, ASRY is now in a position to undertake major construction and conversion work in the field of FPSOs and FSOs. FSO contracts have included the KNOCK TAGGART for Red Band and the JURUPEMA for Petrobras. Click for larger image In 2001, the Yard become the first Ship Repair facility in the world to receive certification to the new ISO Standard 9001:2000. This underlines our total commitment to continually improve the way the Yard manages it quality system. This latest certification covering all Yard activities and services including design and safety, was issued by DNV on 29 October 2001, and shall remain in effect until 17 Bahrain was chosen as the location for the first major repair facility in the Arabian Gulf.... Arab Shipbuilding and Repair Yard Co. (ASRY)