ADSB Sees 15pc Rise in 2009 Revenue

ABU DHABI — Abu Dhabi Ship Building, or ADSB, said on Wednesday that it has 74 new-build and 32 refit, repair and upgrade orders on its books and hopes to achieve revenue of nearly a billion dirhams by the end of the year, or up to 15 per cent higher from 2008.

By Anwar Ahmad

Published: Wed 7 Oct 2009, 11:13 PM

Last updated: Sun 5 Apr 2015, 9:54 PM

Mohamed Salem Al Junaibi, General Manager of the Emirates’ largest listed shipbuilder, said its yards were working at full capacity, building and repairing a wide variety of vessels, both commercial and naval.

“Despite the economic downturn, our business in the first half of this year has jumped up by 10 per cent as compared to corresponding period in 2008. We are looking to achieve 10-15 per cent growth in our business by the end of this year,” he told Khaleej Times on the sidelines of Middle East Workboats 2009 exhibition.

“Last year’s revenue was Dh842 million with the net profit of Dh103 million. Till the end of 2009, we are looking for achieving better performance than previous year,” Al Junaibi said.

The company is owned 10 per cent by the Abu Dhabi Government, 40 per cent by state investor Mubadala Development Company, and 50 per cent by more than 6,000  national shareholders.

ADSB had announced on Sunday that it has delivered a work boat which will join the fleet of the Abu Dhabi-based National Marine Dredging Company, or NMDC. Multicat 1908 is the first of four anchor handling, supply/crane and dredging services vessels that ADSB is building in cooperation with Damen Ship Builders of the Netherlands.

Another Multicat is due for delivery in March 2010 and two 2608 Stan Tugs are due for delivery in February and April 2010, an ADSB statement said.

ADSB started operations in 1996 and since then has built a variety of work boats including barges, tugs, landing craft, multicast, a cutter suction dredger and a high speed aluminum crew boat, Al Junaibi said.

ADSB has previously delivered Multicats to local owners like Emirates Dredging Company, and tug boats and other work boats were supplied to Abu Dhabi Petroleum Ports Operating Company, Qatar Petroleum Corporation, Delma Cooperative Society and Gulf Cobla along with a 40 metre aluminum crew boat to oilfield services company ESNAAD.

ADSB has recently added the 16 metre Sea Keeper landing craft to its design portfolio. The Sea Keeper, built entirely with composites and with Rolls Royce water jet propulsion system, is capable of reaching speeds of 27 knots with a carry load of 7 tonnes. It is highly maneuverable at all speeds, with the added advantage of safe operation in the Gulf’s  shallow coastal waters.

· anwar@khaleejtimes.com