By Neeraj Gangal
New arm specifically set up to sell the significant offshore capabilities of maritime firm.
Drydocks World announced on Thursday the establishment of Drydocks World - Offshore - as a new entity within the group.
According to newswire WAM, this is a marketing arm specifically set up to sell the significant offshore capabilities of Drydocks World, which will move towards offering complete Engineering, Procurement and Construction (EPC) solutions to the company's clients, as well as continuing its original core business of ship repair.
Drydocks World - Dubai is already a facility with an unparalleled capability for FSO, FPSO and FSRU conversions, WAM said.
"The company's core business will be supported by an enhanced engineering capability focused on concept, basic and detailed design for both vessel and topsides, along with project management and procurement resources to enable it to offer complete one stop shop services to its clients," the newswire added.
The Dubai yard has been extended with 670 meters' of dedicated conversion quayside supported with travelling cranes and fabrication areas. In addition a new state of the art pipe fabrication facility will be commissioned mid-year.
According to WAM, Drydocks World's offshore capabilities are not limited to vessel conversions; the company also has a huge capacity for rig building and offshore fabrication at its Batam facilities in Indonesia. Drydocks World - Graha currently has five rig building slips supported by very large fabrication areas and specialist workshops, it added.
Geoff Taylor, Group CEO, Drydocks World said: "Drydocks World aims to significantly increase its share of the offshore market in respect of repair, refurbishment, conversion and rig building. We have strong capabilities in offshore activities and establishing a new arm will help us leverage our strengths and market them better in the current climate."
Drydocks World is part of troubled Dubai coglomerate Dubai World, but is not included in its parent company's $22 billion restructuring plans.