Mazad, a local portfolio firm of Bahrain Mumtalakat Holding Company mandated with overseeing Bahrain’s public and online auctions, has partnered with the Arab Shipbuilding & Repair Yard Company (ASRY) to bolster the maritime industry.

 

The alliance between the companies comes as a sustainable benefit to the maritime industry as a whole, by ensuring that all materials are repurposed and utilised in an appropriate manner. 

 

Streamlining ASRY’s procurement process, Mazad serves as a trusted and transparent platform for buyers to acquire essential materials and equipment swiftly and economically.

 

Trading of maritime assets

In line with Mazad & ASRY’s shared values and core commitments towards environmental sustainability and green projects, the partnership will transform the way maritime assets are managed and traded, bringing greater transparency, efficiency and feasibility to the industry by following the guiding principles of Bahrain’s Economic Vision 2030.

 

“We are proud to embark on this strategic partnership with ASRY, a leader in the maritime industry. This collaboration will not only enhance the efficiency of maritime asset management but also support the growth and sustainability of the industry in the Kingdom of Bahrain. At Mazad we aim to collaborate with various industries, offering an ample supply of assets for our global users, thus making a lasting impact within the economy,” said Talal AlAraifi, CEO of Mazad.

 

“ASRY is committed to embracing innovative solutions that drive operational excellence. Our partnership with Mazad will enable us to optimize our asset management processes, ensuring our assets continue to maintain their utility, whilst offering a greater value to our clients and stakeholders,” said Shaikh Mohammed bin Rashed bin Abdulrahman Alkhalifa, Acting Chief Executive Officer at Asry.--TradeArabia News Service