Dubai Drydocks Reports Profit For Second Year
—Literature Available Dubai Drydocks, which declared a profit after its first year of activity, reported a profit exceeding expectations at the completion of its second year of operation at the end of February of this year.
Since opening the yard in March 1983, and despite the adverse effects of the Iran/Iraq war and the depressed shipping market in the world, Dubai Drydocks has become firmly established in the market as one of the largest ship repairers in the Persian Gulf.
By the end of the second year, 135 vessels with a total of 9.2 million dwt were successfully repaired by the yard, more than doubling the figures of 68 vessels of 4 million dwt for the first year. As of March 1, 1985, the number of vessels repaired was 183, with sizes varying from the smallest ocean research vessel to the largest ULCC—the 423,000-dwt Buyuk Selcuklu—bringing the total number of ULCCs repaired to 10 and the number of VLCCs to 31. A variety of tankers, general cargo and bulk carriers, supply vessels, dredgers, derrick barges, rigs and crane ships, etc., have all entered the drydocks for repairs and general maintenance. The related activities of the yard, such as the tank cleaning station, galvanizing plant, electrical shop, laboratory and extensive machine shop facilities, are all fully operational and are said to serve the Gulf market with increasing demand and success.
The third year of operation is now underway for Dubai Drydocks, with an encouraging volume of outstanding orders pointing to a promising year ahead.
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