AD Ports Group, ASRY to collaborate on strategic maritime, ports projects

AD Ports Group signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY), for the provision of marine services in Bahrain to collaborate on strategic maritime and ports projects.

The signing took place in the presence of Shaikh Nasser Bin Hamad Al Khalifa, His Majesty’s Representative for Humanitarian Works and Youth Affairs, Kingdom of Bahrain, Chairman of Bapco Energies.

These new agreements follow the successful establishment of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, and ASRY, focused on providing integrated marine services in Bahrain.

The first Head of Terms (HoT) pertains to a Joint Venture (JV) to manage drydock facilities and shipyards. The JV aims to leverage the capabilities and facilities of each party through their established businesses in this sector. This agreement seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions.

Additionally, both parties signed a second HoT with a third party, JM Baxi, an India-based well-established business specialising in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste, thereby reducing carbon emissions.

Green recycling in the shipping industry involves the environmentally responsible dismantling and repurposing of ships, contributing to resource conservation and pollution reduction.

JM BAXI is actively involved in promoting and implementing sustainable practices in this area and supports the implementation of the Hong Kong Convention (HKC), a global standard for responsible ship recycling.

The final HoT signed by AD Ports Group and ASRY relates to exploring joint investment opportunities within ports and terminals. Through the creation of a collaborative framework and a working group the parties will draw on their joint expertise to identify prospective areas of development.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, “Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.”

Dr. Ahmed Al Abri, CEO - ASRY, said, “ We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond.”

“We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.”

The new areas of cooperation strengthen both parties’ maritime capabilities and reach, while the focus on green ship recycling highlights a commitment to sustainability and environmental responsibility, driving innovation and industry growth.

Meanwhile last month AD Ports Group signed a Head of Terms Agreement with Advario, a leading global provider of tank storage and infrastructure solutions, to explore establishing a joint venture to develop and operate green energy and liquid bulk storage projects in the UAE and globally.

The proposed joint venture, which would be 51 per cent owned by AD Ports Group and 49 per cent by Advario, has the potential to unlock significant growth opportunities in the fields of clean energy alternatives and bulk chemicals storage by leveraging the partners’ complementary strengths, expertise, and market access. AD Ports Group would work closely with Advario’s UAE partner, Star Energy, to explore the collaboration.

If a joint venture is created, Advario would build bulk storage tanks at Khalifa Port and supporting pipeline infrastructure to the Group’s clients in KEZAD, the Middle East’s largest integrated industrial zone network.

By leveraging KEZAD’s industrial base and fully integrated infrastructure, a collaboration will not only enhance AD Ports Group’s existing liquid bulk capabilities, but create a launchpad for future investments in clean energy infrastructure, including hydrogen carriers such as ammonia, methanol, and other emerging fuels.

WAM