Abu Dhabi Shipyard, UAE 2017 Performance Is Good

- Mar 05, 2018-

Abu Dhabi Shipyard, UAE 2017 performance is good

Recently, the United Arab Emirates Abu Dhabi Shipyard (hereinafter referred to as ADSB) released its FY2017 results report, as of December 2017, the company net profit of 104.8 million dirhams (about 28.5 million US dollars), up 70%, the company's history The second best year. Gross profit increased to 256.7 million (approximately 75.4 million U.S. dollars) from 256.1 million (approximately 69.7 million U.S. dollars) in 2016.


The latest financial figures show that the performance of the shipyard is on the rise as ADSB diversifies its traditional Navy construction and repair operations into new areas, including commercial shipping and offshore operations. However, it is worth noting that the shipbuilding and maintenance industry is under pressure due to the recession in offshore operations and the expansion of shipyard capacity throughout the region.glenflange


Under the leadership of Dr. Al Mazrouei, the excellence of the shipyard stems from the cost-effectiveness of the new construction approach, the expansion of the oil and gas sector and the three-year maritime support service contract with the UAE's Navy, which continues until 2020 .


A key element of ADSB's diversification strategy was the acquisition of a floating dock at Mina Zayed and a nearby maintenance terminal about 35 km from the company's main site in Mussfah. Unlike the main shipyard, there is no size limit for a floating dock with a lifting capacity of 10,000 tons and a maintenance pier of a depth of 14 meters, so that a larger ship can be repaired.glenflange


ADSB is a publicly traded company jointly owned by the government of Abu Dhabi (10%) and Mubadala Investment Company (40%), with the remaining shares publicly traded on the Abu Dhabi Stock Exchange.