After announcing its intention to pursue contracts worth billions of dirhams, Al-Sir Marin, a company listed on the Abu Dhabi Financial Market, had a 7% increase in value at the opening of trading on Monday.
According to stock exchange data, Al-Sir Marin’s shares had grown by 7. 12% of their level of 9. 8 dirhams by 11:10 am Emirates time, with 13. 94 million dirhams in liquidity.
This morning, Al Sir Al Sir Maritime Equipment and Supplies announced that it had begun a joint strategic project with the premier Dutch provider of naval solutions, Damen Holding, and the premier international provider of marine environment technologies, DTEC Eststils Investment, based in Singapore.
By collaborating with regional partners in the Middle East and the international market, where the joint strategic project will implement the main success formulas of projects and partnerships, the joint project between the three companies will bring together the best experiences in the marine industry and support the United Arab Emirates as a centre of excellence in that industry.
A 1. 43% annual growth rate is anticipated for the marine ship industry market, which is projected to increase from $ 170. 75 billion in 2021 to $ 188. 57 billion in 2028. In light of this, the strategic alliance with Damen Holding and DTEC is in keeping with the company’s goal of building a global reputation for producing high-quality supplies and equipment.
The tripartite cooperation is anticipated to be able to grow by more than 36.
In the next ten years, follow-up contracts in the present markets will be worth $7 billion ($10 billion). International commerce and economic trends are intimately tied to the demand for large ships. In the first two quarters of the year 2020, the pandemic reduced maritime trade and transport, which in turn reduced the demand for the purchase of new ships, yet the market is witnessing a recovery in the past 12 months, as newly ships building contracts have been established in the world.
Damen Holding has been offering marine solutions in design, shipbuilding, ship maintenance, and pertinent services for more than 105 years. A Dutch shipbuilding and engineering firm called The Damen Group is situated in Gorringim in the southern Netherlands. Although it is a major international group operating in 120 countries, it is still a private family company.
The DTEC corporation, which has its headquarters in Singapore, specialises in the maritime industry and offers services in industrial participation, shipbuilding, and marine environment technology. Worldwide, the firm has a large number of wholly owned subsidiaries.
Abu Dhabi Securities Exchange The share of the traffic jumps more than 7% with its endeavor to conclude future contracts at the dirhams
About Author
