Chairman Homaid Al Shemmari delivers speech focused on promoting technical cooperation with UAE's maritime neighbours

May 11, 2010 - Abu Dhabi Ship Building (ADSB), Abu Dhabi based world-class ship builder specializing in the construction, repair and refit, of naval, military and commercial vessels, discussed projects it has delivered and projects it is currently working on for various Gulf naval defense groups during the 2010 Indian Ocean Naval Symposium (IONS) that took place on May 10, 2010 in Abu Dhabi. During the event, ADSB Chairman Homaid Al Shemmari made a presentation titled 'Promotion of technical cooperation including repairs and refit efforts with maritime neighbours'.  

The biennial IONS is a pan-Asian maritime security forum comprising 32 regular member countries aimed at enhancing maritime cooperation among navies and maritime agencies patrolling the Indian Ocean Region. The inaugural symposium was held in New Delhi, India in 2008, with succeeding sessions to be rotated among the 32 regular country members. This year's edition was chaired by the UAE Navy and held under the theme 'Together for the Reinforcement of Maritime Security in the Indian Ocean.'

ADSB, as a Silver Sponsor of IONS 2010, highlighted its key projects, including its Baynunah Class 72m Corvette project and Ghannatha Class 25m fast craft for the UAE Navy; 42m Landing Craft and 16m Seakeeper Fast landing crafts for the Royal Bahrain Naval Force.  These vessels are examples of projects that showcase ADSB's expertise in building complex multi task warships with different sizes in steel, aluminium alloy and composite materials. 

"Through IONS we had the opportunity to showcase our extensive skills and our ability to work with various materials, for defense-related projects. We reiterated our commitment to growing our Gulf business during this event while offering our services to other organisations involved in the protection of the Indian Ocean's waters. We are confident that through the greater visibility provided by symposiums such as IONS we will be able to sustain the annual performance and profitability we posted in 2009," said Al Shemmari.

Abu Dhabi Ship Building has one of the world's most modern naval shipyards and is the only one capable of building, refitting, repairing and upgrading complex naval warships in the Arabian Gulf region. Through the emirate of Abu Dhabi's hosting of this year's IONS, the shipbuilder sought to secure new partnerships and reinforce existing ones across the Indian Ocean's thriving maritime services sector.

ADSB achieved a net profit of AED 114.39 million on revenues of over AED 1.16 billion for the year 2009, representing the shipbuilder's strongest-ever annual performance since its establishment in 1996. The Public Joint Stock Company is owned by Mubadala Development Company (40 per cent), the Abu Dhabi Government (10 per cent), and various UAE National shareholders (50 per cent).

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© Press Release 2010