By Conrad Prabhu — MUSCAT — Oman Dry-Dock Company (ODC), which owns and manages the Sultanate’s newly operational ship repair yard at Duqm, is eyeing annual revenues of around $200 million by the year 2020. The state-owned company’s Deputy CEO, Khalil Ahmed al Salmi, said the yard’s workforce is also projected to grow to around 4,000 employees, in line with ODC’s ambitions to emerge as a leading dry-dock in the region.
Speaking on the opening day of the 3rd Oman Economic Forum at Al Bustan Palace — A Ritz Carlton Hotel yesterday, Al Salmi said the yard had made significant strides since it was soft-launched in April last year. Over the past 12 months, the yard had successfully dry-docked, repaired and maintained a total of 76 ships across all classification types and sizes. The range has included LNG carriers, oil tankers, product tankers, bulk carriers and containerships, among others. A further two ships are currently under repair, while seven more are due for dry-docking in the coming weeks, taking the total to 85 ships on its order book to date.
Al Salmi also underlined the important role of Daewoo Shipbuilding and Marine Services (DSME), one of the world’s largest shipbuilding companies, as ODC’s Strategic Partner in the development and operation of Oman’s first ship repair yard. ODC’s current 10-year strategic arrangement with DSME is extendable by another 10-year term, he said.
Earlier, speaking at the same event, Yahya bin Said al Jabri, Chairman of the Duqm Special Economic Zone (SEZ) Authority, described the ship repair yard housed within a world-scale maritime port, as an ‘economic engine’ that will drive Duqm’s growth into an industrial hub.
The yard’s two huge graving docks can accommodate the world’s largest vessels of up to 600,000 dwt. As many as 10 ships of different sizes can be repaired at once at the two docks, he said.
It is envisaged that by the year 2020, ODC will evolve into an integrated ship repair facility with the engineering wherewithal to undertake repairs to a wide range of offshore structures and specialist vessels, including offshore rigs, derrick barges, dredgers, pipe-laying barges, and so on. With 2.8 kilometres of alongside berthing, the yard will be able to accommodate all sizes of vessels targeted for repair or conversion work.
Additionally, the facility will also be equipped to undertake conversions of Very Large Crude Carriers (VLCCs) into Floating Storage and Offloading (FSO) vessels as well as Floating Production, Storage and Offloading (FPSO) vessels.
ODC also aims to diversify its capabilities to include the fabrication of offshore structures such as jackets, top-side modules, sub-sea pipeline manifolds, offshore accommodation barges, and so on. Fabrication of steel structures, such as long-span steel bridges, high-rise building structures, and so on, is also part of ODC’s offerings in the long term.