ASRY Reports Prosperous 1999

ASRY's services were high in demand last year, as the yard reported a satisfactory performance for 1999, following the record volume of repairs seen in 1998.

A total of 114 vessels underwent repair work at ASRY — ranging from ULCCs to offshore support vessels — 93 vessels were docked and 21 carried out afloat repairs. These figures come in slightly below 1998's total of 119 including 101 dockings — although the amount of vessels docking at ASRY for afloat repairs rose by 17 percent in 1999. With a 500,000-dwt capacity graving dock and two floating docks, occupancy averaged 89 percent — marginally under the 92 percent average noted in 1998.

Securing a formidable portion of the international and local ship repair market this past year, 40 percent of the yard's customers were Arab owners, while a strong demand was seen in Greece, Norway, India, Sweden and the U.K. Giving the yard the most of its business last year was KOTC who brought five tankers into ASRY for work. NCC/Odtjell called upon the yard to repair four of its tankers, while Bakri Navigation, The Shipping Corporation of India and UCO Marine utilized ASRY for similar work on their respective fleets.

Two significant repairs performed by the yard this past year were the 20-year life extension upgrade and repairs to 53,624-dwt LNG Norman Lady, and the first Special Survey and routine docking of 138,557-dwt tanker Knock Dun, which was noted as the 2,000th vessel to undergo work since the yard opened its doors in 1977. Norman Lady received major repairs to its five spherical cargo tanks, which was a premiere undertak- ing on LNG tonnage by the yard. Following this successful venture, Norman Lady's owner is currently considering similar repairs to its sister vessel.

Further expanding its newbuild capabilities, ASRY signed a Memorandum of Understanding with Colombo Dockyard for the exchange of expertise and capabilities regarding small vessel design, specifications and newbuildings.

Through this agreement the yard will enhance its potential within small vessel newbuilds to accommodate future orders for harbor tugs and other service craft.

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Maritime Reporter Magazine, page 18, Apr 2000

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