Safeen Drydocks wins $354m vessel contracts

Safeen Drydocks, an Abu Dhabi-based shipbuilding, repair and maintenance company, has secured two vessel construction contracts valued at AED1.3 billion ($354 million).

This is the largest award secured by Safeen, a joint venture between AD Ports Group and Dubai-based Premier Marine Engineering Services, to date, the UAE state-run Wam news agency reported.

The first project includes the design and fabrication of four 140-metre multipurpose vessels for AD Ports. Each vessel will have a capacity for 105 passengers, 300 containers, 1,000 cars and 100 trailers.

The second award is for the construction of 18 specialised marine support units for Nigeria’s Oilbank Logistics Services, including tugboats and pilot boats of various sizes.

These will support port operations and offshore logistics in Nigeria.

Safeen Drydocks, established in 2023, is 51 percent owned by AD Ports and 49 percent by Premier Marine. It has operations across facilities in the UAE and Spain, including its shipyard at Khalifa Port and the recently acquired Balenciaga Shipyard.

Further reading:

• AD Ports raises $80m from sale of Kezad warehouses
• AD Ports posts strong earnings despite Iran conflict
• Abu Dhabi’s Kezad secures $40m industrial sector investment