The state-owned Kuwait Oil Tanker Company (KOTC) signed Sunday a USD-23-million agreement with the Bahrain-based Arab Shipbuilding and Repair Yard Company (ASRY) Co. for drydocking and repairing a record 19 KOTC ships.
"This agreement is considered the biggest of its kind in the Gulf region," KOTC's Chief Executive Officer Sheikh Talal Al-Khaled Al Sabah told KUNA following the signing ceremony.
He described ASRY as one of the most experienced vessels' drydrocking and repairing in the world.
As per the agreement, ASRY will perform drydocking, maintenance and repairs of 19 KOTC ships in its shipyards in Bahrain over the coming three years, Sheikh Talal stated.
He added that the 19 ships comprise 12 oil tankers, 4 liquefied natural gas tankers, two fueling ships, and tugboat.
"The outstanding record of ASRY in this domain qualifies it to be a KOTC's partner on the long-run," he told KUNA.
He pointed out that ASRY yards would receive eight KOTC ships in 2015, the first in February; nine ships in 2016; and two ships in 2017.
Sheikh Talal argued that the agreement shows KOTC's commitment to maintain the efficiency and safety of its fleet through ensuring world-class and cost-effective regular drydocking and repairing operations.
ASRY is the Arabian Gulf's most experienced ship and rig repair yard. Founded in 1977 in Bahrain, ASRY has over 35 years of experience in marine asset optimization.
Its leading range of facilities includes a 500,000dwt drydock, two floating docks of 252m and 227m in length, 15 repair berths with a total length of approximately 4,000m, twin 255m slipways, as well as a full range of workshops and service centers.
The yard's portfolio of capabilities is not only the largest in the Arabian Gulf, but also includes jack-up rigs and other offshore assets, due to a dedicated division - ASRY Offshore Services.