Publications

ASRY Newsletter
 
The quarterly international newsletter for the latest in ASRY developments. Be it new capabilities, the latest repair highlights, customer feedback, or expansion and developments, ASRY News has all the latest information.

One of the key focus points for ASRY for 2016 was safety. Despite the latter half of the previous year showing a steady improvement in our incident rate – with an 18% reduction in our lost time injury frequency (LTIF), exceeding the target of 10% set by Industrial Safety Committee – there was still much work to be done to reach our goal, which is to be a regional leader in not only safety best practice, but also safety culture.

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2015 ended on a high note for the yard with ASRY winning the Shipyard Of The Year award at the Lloyds List Middle East and Indian Subcontinent Awards. The independent judging panel selected ASRY because it has maintained its position as region’s shipyard of choice despite growing competition and fluctuating market forces. However, the year in general did not meet our targets in terms of revenues, largely due to the Offshore market downturn, but despite the fact that we docked more ships than ever before in a single year.

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Of the three revenue generating streams at ASRY, the Ship Repair sector was proving most successful as the yard finished the third quarter of the year. Enquiries were high, and the yard continued to post strong capacity numbers going into the last quarter. The Offshore repair sector, however, still laboured under pressure from the low price of oil.

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While the Ship Repair side of the business was doing well, exceeding its target for the year so far, the Offshore contribution to revenues was pulling down overall revenues significantly. This was due to a reduction of rig projects in the region and postponement of planned rig upgrades. Realizing that these challenging market conditions were likely to be the status quo for the foreseeable future, we were being proactive in our response, rather than waiting for better conditions.

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The first three months of 2015 followed a similar pattern of business to that experienced in 2014 as a whole. Yard capacity was high, with a solid number of vessels being docked, yet owners were still reluctant to extend beyond the minimum requirements of their repair scopes.

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An encouraging variety of repair scopes are translating into high occupancy and good utilisation of ASRY’s varied facilities

The beginning of 2014 has met expectations of being another strong start to the year. At the end of 2013 we predicted the overall market would stay buoyant with repair schedules aligning well for high occupancy this year.

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Annual Reviews
 
ASRY Annual Reviews collect the most important developments at ASRY for the preceding year, as well as providing inside analysis of the market performance, statistics exploration, future plans, and departmental breakdowns.

As the global maritime repair market undergoes major changes, ASRY has been required to be equally transformative to respond and remain the regional leader. Through an evolving business model, expansion of its facility mix, and constant focus on customer satisfaction, ASRY’s proactive response to changing market dynamics has ensured its competitiveness throughout the ongoing shift.

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Two major changes occurred in 2014, the first was the launch of an initiative called Project Jupiter, which is inviting maritime contractors to set up their premises/workshops/expertise centres within the yard, so that when customers come to ASRY they have direct access to their main contractors, therefore making the yard a ‘One Stop’ shop. The second major development was a corporate restructuring which combined and defined various new divisions to make the entire yard’s corporate flow more geared towards customer satisfaction, therefore making the company operate as ‘One Yard’.

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2013 was the year in which ASRY put the finishing touches on an ambitious period of expansion. With an investment of $188 million, a series of revenue diversifications, and a raft of new facilities completed, this expansion has equipped ASRY with a variety of tools to drive to new growth. However, all the improvements made over recent years must now be unified and co-ordinated into a single purpose; the various developments must fit together as pieces of an overall objective. This is the challenge of 2014; to bring all of ASRY’s capabilities together towards tomorrow.

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2012 proved to be a watershed year for ASRY. The endeavours and achievements of the company throughout the year were the last remaining pieces of a strategy to position the yard for its next stage of progress. With a recent $188m expansion programme largely completed, and an increase in revenues of 5.23% from 2011 to 2012, combined with the creation and development of new divisions, ASRY is now well-placed to graduate from being a ship repair yard to a multi-service marine complex.

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Annual Review 2011

2011 was an important year for the evolution of ASRY. With the celebration of it’s 35th year of operations came the final phases of a full-scale investment programme aimed to modernise the yard, expand its capabilities, and fortify its position as the yard of choice in the Arabian Gulf.

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Annual Review 2010

Asry continues to maintain ship owners’ confidence and achieve sustainable progress. Despite challenging conditions, we are keen to expand operations and reach higher standards of excellence.

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Annual Review 2009

The shipping industry is used to the unexpected, it’s part and parcel of the vagaries of international trade. But very few could have foreseen the events of 2009. It’s always tough to keep up with the high of an exceptional year.

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About ASRY

About ASRY

Having been established in 1977, ASRY is the most experienced marine repair facility in the Arabian Gulf, with the efficiency and reliability only time and experience can bring.