Abu Dhabi, UAE—Al Seer Marine, a subsidiary of International Holding Company (IHC), has entered a strategic joint venture with Damen Shipyards, the maritime solutions Dutch company, and DTec Industries, an industrial partnerships and financial services based in Singapore.
Working with regional partners in the Middle East and those in the international community, the strategic joint venture will implement their key success formulas to ventures and local partnerships to sell, build and maintain high-quality, innovative, and cost-effective marine vessels in the global markets, Al Seer said in a statement.
The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence, the statement added.
Guy Neivens, Chief Executive Officer of Al Seer Marine, said, “The sea carries out around 80 percent of global trade by volume. The global marine vessel market is projected to grow from USD 170.75 billion in 2021 to USD 188.57 billion in 2028. The collaboration with Damen Shipyards and DTec aligns well with Al Seer Marine’s strategy in becoming a global brand in developing world-class marine vessels.”