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Middle East, notably in Oman and Qatar. But these are brand new yards, without a track record. ASRY is now in its 35th year of continuous operations. We have a fan- tastic track record, offer a very high qual- ity service, have a loyal client base of owners and managers, both Arab and In- ternational; and a skilled workforce. We also offer exemplary service to all of our customers, with a fair pricing policy. I be- lieve competition is a good thing. If you are afraid of competition then shut upshop!As the world economy struggles to regain its footing, how has the shipyard fared? Like all other major ship repair yards ASRY has been hit by the recent global economic crisis. We had exceptional years in 2007 and 2008, but were then hit by the global recession in 2009. There was a false dawn in 2010, when the market was supposed to improve, but this didn?t hap- pen and we made a small loss. But thiswasn?t the end of the world. We have hit bottom, the only way now is up. 2011 saw the yard make a small profit and I?m up- beat and positive that 2012 will be a stronger year for ASRY and I truly believe that the market will pick up in 2013 Ship repair is a cyclical industry ? it is to- tally dependent on global and regional trade. When this slows down, owners don?t spend much money on repairing their ships. Previous recessions have been shorter, today?s one has been much longer, mainly due to two reasons: a global finan- cial recession arriving at the same time as a shipping recession. The shiprepair business is a cyclical one. How does ASRY balance investment in its yard, equipment and people with the pos-sibility of wide swings in revenue? When I took over the helm of ASRY in January 2007, it was undoubtedly a chal- lenge, but a challenge which has produced the new ASRY. We have a totally new management team, a very good success rate, a high level of service to our clients and we have diversified into the offshore oil and gas market, the naval repair sector and, most recently, into a joint venture to design and build floating electricity gen- erating stations for use worldwide. ASRY has invested in a new 1.38km Re- pair Quay Wall and Offshore Fabrication Area, presumably to meet the needs of a growing offshore energy business in your region. Why the investment at this time? The investment of $188m in a facilities expansion program during a major reces- sion was a calculated risk. The time was right for ASRY to move forward into a new phase in its history. ASRY had to change. The yard needed more alongside repair space, as we were having to work on vessels double or even triple berthed. The new repair Quay Wall is designed for both ships, three 300,000dwt vessels si- multaneously, and jack-up rigs. We also saw a niche in the offshore fabrication market ? hence the establishment of our offshore division, ASRY Offshore Serv- ices (AOS) and the new fabrication area. I see great potential in the offshore oil and gas sector, with AOS contributing 40% of all sales in 2011, mostly for jack-up re-pairs and upgrades. I see this sector grow- ing more and more. We also needed the new facilities to successfully face the competition from the new yards opening in Oman and Qatar. March 2012 www.marinelink.com 37Shaikh Daij bin Salman Al Khalifa Chairman, Arab Ship Repair Yard (ASRY) and the General Organization of Sea Ports, Kingdom of Bahrain Shaikh Daij bin Salman Al Khalifa is Chairman of the ASRY and GOP Board and Undersecretary for Ports Affairs at the Ministry of Finance. He held the position of President of Customs from March 2006 until June 2008 and prior to that Shaikh Daij was Assistant Undersecretary for Foreign Trade at the Ministry of Industry and Commerce. Other positions presently held by him include: Chairman of Asry Marketing Services Ltd. (ASRYMAR) and Board Member, United Arab Shipping Company and Bahrain Convention and Exhibition Authority. Previous positions included: Chairman of Bahrain Airport Company and GCC Patent Office, Deputy Chairman, Bahrain Promotions & Marketing Board, and Board Member of Tender Board, Alu- minium Bahrain (ALBA), Shaikha Hessa Girls School and King Fahd Causeway Authority. Shaikh Daij holds a BSBA in International Business from the American University, Washington, D.C. and a Leadership Management Diploma (Gulf Executive Program) from the University of Virginia, USA. Recipient of Seatrade?s Middle East and Indian Subcontinent ?Personality of the Year? Award 2010. ?We are now very much involved in the repair of naval vessels, from the U.S. Navy, the Royal Navy and Royal Fleet Auxiliary, as well as the Bahrain Navy ? MR March 12 # 5 (33-40):MR Template 3/2/2012 8:25 AM Page 37