ADNATCO-NGSCO signs Drydocks World agreement

Two firms sign a strategic alliance agreement for future cooperation

Drydocks World Dubai has facilities in the UAE
Drydocks World Dubai has facilities in the UAE

Drydocks World has signed a strategic alliance agreement with ADNATCO-NGSCO, the shipping arm of the ADNOC group of companies.

The agreement was signed during a ceremony held in Dubai by ADNATCO-NGSCO general manager Ali Obaid Al-Yabhouni and Drydocks World executive vice chairman and regional CEO, Hamed Bin Lahej.

''This is an important agreement that cements the close working relationship between ADNATCO-NGSCO and Drydocks World," Al-Yabhouni said. "In recent years, our vessels have used Drydocks World's world-class facility in Dubai for major maintenance programs and the experience has encouraged us to formalise a closer working relationship."

ADNATCO-NGSCO comprises of two fleets: ADNATCO operates chemical and petroleum product carriers while NGSCO owns and manages eight LNG tankers.

“This agreement is a step forward in the cooperation between both companies. With this agreement, we are aiming to strengthen our ties with the major regional players in the industry," revealed Bin Lahej.

ADNATCO is currently expanding its fleet and starting 2010, the company will be taking delivery of at least 15 new vessels.

Read an exclusive interview with Drydocks World Dubai managing director Nawal Saigal in the November issue of Oil & Gas Middle East.



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