Oman DryDock eyes US$200m revenues by 2020

Deputy CEO says shipyard has made significant steps since April 2011 opening
Oman DryDock eyes US$200m revenues by 2020
(Image for illustrative purposes only)
By Sara Anabtawi
Mon 23 Apr 2012 12:53 PM

Oman DryDock Company (ODC) is eyeing
annual revenues of US$200m by 2020, it has been reported.

The state-owned company owns and manages
the Sultanate’s recently operational ship repair yard at the central-eastern
port town Duqm, reported The Oman Observer.

The yard’s workforce is also expected to
grow to around 4,000 employees, in line with ODC’s aim to emerge as a leading
dry-dock in the region, said the company’s Deputy CEO, Khalil Ahmed Al Salmi,
at the 3rd Oman Economic Forum.

He added that the yard has made significant
steps since its soft-launch in April of last year.

Over the next 12 months, it
dry-docked, repaired and maintained 76 ships of all
types and sizes, ranging from LNG carriers, oil tankers and product tankers, to
bulk carriers and container ships, among others.

While a further two ships are currently
under repair, seven more are due for dry-docking in the coming weeks, making a total of 85 ships on its order book, Al Salmi added. 

Also speaking at the forum, Yahya bin Said
al Jabri, Chairman of the Duqm Special Economic Zone Authority (SEZ), described
the yard as an "economic engine" that will drive Duqm’s growth as an
industrial hub.

He added that the yard’s two large graving
docks can house up to ten ships of different sizes, all of which can be
repaired simultaneously.

By
the year 2020, it is predicted that ODC will develop into an integrated ship
repair facility with the engineering ability to carry out repairs to a wide
range of offshore structures and specialist vessels, including offshore rigs,
derrick barges, dredgers, pipe-laying barges, and more.

Furthermore,
the facility will also be outfitted to allow conversions of Very Large
Crude Carriers into Floating Storage and Offloading vessels as
well as Floating Production, Storage and Offloading vessels, reported
the newspaper.

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