The chairman of Arab Shipbuilding and Repair Yard (Asry) visited the first ship being repaired under a $33 million agreement signed between the shipyard and Kuwait Oil Tanker Company (KOTC) to repair 19 vessels, a report said.

“This agreement not only makes history in the regional maritime industry, but is also a strong demonstration of GCC co-operation," Shaikh Daij bin Salman Al Khalifa was quoted as saying by the  Gulf Daily News, our sister publication.

"Leaders like KOTC and Asry working together is an example of premier regional businesses finding common ground for mutual growth. Positive effects of deals of this nature will be experienced by our customers, our employees and our respective countries."

Asry chief executive Nils Kristian Berge, who attended the event with other senior management, said: "All Asry employees are, and should be, very proud of this memorable achievement. It is a sign that Asry is the leading ship repair facility in the Gulf, and that the work we are doing has the highest level of quality and strongest reputation in the region. The agreement is one of the largest in the Gulf's history, and was won with strong competition."

The visit by the chairman and senior management included a tour of the bridge of the first vessel being repaired under the two-and-half-year agreement, the Al Jabriyah II, and a gift-giving ceremony to the captain and crew of the ship. – TradeArabia News Service