Marine

Al Seer Marine enters joint venture to build, sell and service marine vessels

Al Seer Marine (ASM), a subsidiary of International Holding Company, has entered into a strategic joint venture with Dutch maritime solutions company, Damen Shipyards and Singapore-based DTec Industries.

Damen Shipyards has been providing maritime solutions in the fields of design, shipbuilding, ship repair and related services in various sectors since its inception in 1927. It is part of the Damen Group, a Dutch shipbuilding and logistics conglomerate. engineering based in Gorinchem, South Holland, the Netherlands.

DTec Industries offers industrial participation and financing services, mainly in the maritime sector. The group has several wholly-owned operating subsidiaries located around the world.

The strategic joint venture will consider local businesses and partnerships to sell, build and maintain high-quality, cost-effective marine vessels in global markets.

Guy Neivens, CEO of Al Seer Marine, said: “The sea provides around 80% of world trade by volume. The global marine vessel market is expected to grow from $170.75 billion in 2021 to $188.57 billion in 2028. The collaboration with Damen Shipyards and DTec aligns well with Al Seer Marine’s strategy to become a world brand in the development of world-class marine vessels.

This move aligns with Al Seer Marine’s international growth plan. He sees a potential of more than 36.7 billion Dhs in the current markets in the next ten years.

“With current market indicators, we are confident that this strategic joint venture will play a key role in the growth of Al Seer Marine, which will add great value to our shareholders,” added Neivens.

In the latest news, Abu Dhabi-based shipping company Al Seer Marine has entered into a collaboration agreement with Singapore’s Netbulk to expand its global cargo services. The agreement between the two companies will focus on the Middle East, Asia and Asia-Pacific, and will help customers ease supply chain uncertainties.

Read: Abu Dhabi’s Al Seer Marine partners with Singapore’s Netbulk to expand cargo services