Arab Today, arab today drydocks announces partnership
Last Updated : GMT 05:01:52
Arab Today, arab today
Arab Today, arab today

DryDocks announces partnership

Arab Today, arab today

Arab Today, arab today DryDocks announces partnership

Abu Dhabi - Arabstoday

Dubai’s shipyard operator Drydocks World announced Wednesday a new joint venture with a Pacific Carriers Ltd, a part of the Kuok Group. The venture, named DDW-PaxOcean Asia Pte Ltd, will be located in Singapore. The chairman of the new venture’s board will be Khamis Juma Bu Amim, who is also the chairman of Drydocks World and Maritime World. “They are on the same business and they have fleets, as well as ship repair facilities in China. By forming a partnership with them, we will have the ability to offer bigger distributors to customers in China,” said Bu Amim. Initial reports said Pacific Carriers Ltd., which is a subsidiary of the Kuok (Singapore) Ltd, will take 60-70 per cent stake in the new company. Bu Amim refuted to that and said the process will not be finished until August.“The joint venture agreement is signed, but the stakes are not yet determined,” he said. Financial terms were not disclosed and the deal is to be closed in the third quarter of this year. DDW, which is responsible for ship repair, shipbuilding, rig building and has fleet operations in the Middle East and Southeast Asia, bought its Southeast Asian operations that are based in Singapore and Indonesia for $2.2 billion in 2007. Bu Amim said the process of restructuring DDW’s $2.2 billion (Dh8.09 billion) debts, which it issued to fund the expansion, is almost finished. Ninety eight per cent of the company’s agreements with lenders has been completed, he said. The remaining 2 per cent of the debt is still being negotiated. DDW and Pacific Carriers Ltd will cooperate on cross-promotional activities and strategic initiatives within the offshore and marine industry. Pacific Carriers’ activities include ship owning, ship management and offshore marine support services. The Kuok (Singapore) Group also operates two shipbuilding and repair facilities in China titled Pax Ocean. from gulfnews.com

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today drydocks announces partnership Arab Today, arab today drydocks announces partnership

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today drydocks announces partnership Arab Today, arab today drydocks announces partnership

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday