ASRY ANALYSIS: More Arabian Gulf large crude tanker dockings likely on back of increased tanker activity in the region

MANAMA: Market analysts at ASRY, the leading ship and rig repair yard in the Arabian Gulf, are predicting an impact to the large vessel repair market in the Arabian Gulf in the coming months due to recent increased tanker activity relating to crude output from Iran, Iraq, Saudi Arabia, Kuwait and the UAE.

“Q3 has seen a spike in the tanker activity around Iraq and Iran,” confirmed ASRY Ship Repair General Manager, Charles Maher, “Al-Basra and Khor-Al-Amaya Terminals of Iraq have shown increased activity in Q3 with almost 50 crude tankers departing in the first 25 days of September 2016. Also,” he continued, “post-sanctions there is a significant increase in the number of tankers carrying Iranian crude, and as such we are seeing many non-Iranian tankers heading to Europe and the Indian West Coast in recent months.” In addition, the analysis from ASRY suggests that in 2016 export of Iranian crude to India is going to hit 7-year high, with the majority of those being VLCC’s and Suezmax vessels.

According to this trend, any shipyard in the Arabian Gulf region that has large docking facilities and a strong track record of tanker repair should benefit with docking repairs. Maher concluded, “Shipyards in the Arabian Gulf need to be prepared to meet the service needs of owners that are increasing their presence in our region.”

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