Picture used for illustrative purpose only.
Al Seer Marine, a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), has entered a strategic joint venture with the leading maritime solutions Dutch company, Damen Shipyards and DTec Industries, a global pioneer in the industrial partnerships and financial services based in Singapore, respectively.
The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence.
Working with regional partners in the Middle East and those in the international community, the strategic joint venture will implement their key success formulas to ventures and local partnerships to successfully sell, build and maintain high-quality, innovative, and cost-effective marine vessels in the global markets.
Commenting on the joint venture, Guy Neivens, Chief Executive Officer of Al Seer Marine, said, “The sea carries out around 80 per cent of global trade by volume. The global marine vessel market is projected 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 in becoming a global brand in developing world-class marine vessels.”
The move aligns with Al Seer Marine’s international growth plan in response to the global industry demand. Al Seer Marine sees a potential of more than Dhs36.7 billion in current markets in the coming ten years.