In the presence of His Highness Shaikh Nasser bin Hamad Al Khalifa of the Kingdom of Bahrain, AD Ports Group (ADX: ADPORTS) has signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY), marking a major step in advancing Bahrain’s maritime infrastructure and green initiatives.
Expanding Joint Ventures for Shipyard Management
The first agreement establishes a joint venture to manage drydock facilities and shipyards, aiming to boost drydocking and shipbuilding capabilities across the GCC and explore global opportunities. The JV will leverage the combined strength of AD Ports Group’s maritime logistics expertise and ASRY’s advanced ship repair infrastructure.
Promoting Green Ship Recycling with JM Baxi
The second HoT, signed with India-based JM Baxi, focuses on developing green ship recycling facilities in line with circular economy principles. This initiative supports environmentally responsible dismantling and repurposing of vessels, aligned with the Hong Kong Convention (HKC), and aims to reduce carbon emissions and marine waste. JM Baxi brings deep expertise in sustainable logistics and marine technology.
Captain Mohamed Juma Al Shamisi, CEO of AD Ports Group, stated:
“Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.”
Exploring Port and Terminal Investments
The third agreement outlines collaboration on joint investments in ports and terminals. A working group will be formed to identify strategic development opportunities, further strengthening the regional port infrastructure and operational capacity.
Shared Vision for Maritime Growth and Sustainability
These agreements follow the successful launch of ASRY Marine, a joint venture between AD Ports Group’s Noatum Maritime and ASRY, and reflect a growing partnership focused on regional growth, innovation, and environmental responsibility.
Dr. Ahmed Al Abri, CEO of ASRY, added:
“We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond. We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.”
With this tripartite collaboration, AD Ports Group, ASRY, and JM Baxi are poised to accelerate sustainable maritime development in Bahrain and the wider region. The agreements signal a shift toward innovation, green practices, and strategic expansion within the global maritime sector.
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Source: AD PORTS GROUP
