Bahrain’s Arab Shipbuilding and Repair Yard (ASRY) and India’s Priya Blue Group have officially launched a joint venture for ship recycling operations following the arrival of the first vessel for recycling in Bahrain.
Under the arrangement, Best Oasis, one of the world’s major cash buyer of ships and offshore energy assets, will support the venture through vessel sourcing and commercial acquisition activities.
According to ASRY, the joint venture will provide integrated ship recycling services including vessel dismantling, hazardous waste management, environmental compliance, dry dock and slipway access, heavy lifting operations, and regulatory support.
The facility will be capable of recycling conventional vessels as well as complex offshore assets such as floating production storage and offloading units (FPSOs), offshore rigs, and other offshore structures.
ASRY stated that the yard holds licenses required for handling hazardous materials, including naturally occurring radioactive material (NORM) waste generated from offshore production facilities.
The recycling operations will utilize dry dock, slipway, and alongside dismantling methods, with capacity to handle vessels up to ultra large crude carrier (ULCC) size.
Founded in 1977 in Bahrain, ASRY specializes in ship repair and conversion, rig and naval repair, and fabrication and engineering. Its services cover a wide range of vessel repairs, including jack-up rigs and offshore assets, as well as the fabrication of onshore and offshore industrial components.