- The Joint Venture is expanding beyond the naval sector into the commercial maritime, to solidify its position as a global industry leader.
- Dune’s mission is to leverage the combined strengths of Damen International and Al Seer Marine to become a global leader in naval and commercial shipbuilding.
Abu Dhabi, 11 November, 2024: Al Seer Marine (ADX: ASM), a frontrunner in the maritime industry and a subsidiary of International Holding Company (ADX: IHC), and Damen International, part of the Damen family which is known from the renowned global shipbuilding company Damen Shipyards Group, have further solidified their strategic partnership with the expansion of their joint venture, Dune.
Established in 2022, the joint venture initially focused on naval shipbuilding. Now, expanding its operations, Dune is entering the commercial shipbuilding market. This strategic move strengthens its position as a global leader in the maritime industry.
Beyond shipbuilding, Dune offers a range of specialized services, including technical, operational, and commercial vessel management; new build project management; operational and financial business management; and international maritime business facilitation, including global sales and acquisitions of commercial and naval vessels from the UAE.
Guy Neivens, CEO of Al Seer Marine, stated: “We are thrilled to witness the continued growth and success of the joint venture. By leveraging our advanced manufacturing capabilities and extensive UAE-based production facilities, coupled with Damen’s family robust shipyards in the region, we are confident in our ability to deliver innovative and efficient maritime solutions. In 2025 alone, we anticipate producing over 26 vessels, all constructed within the UAE to serve both domestic and international clients.”
Bolstered by a robust pipeline of both naval and commercial projects, the joint venture is well-positioned to drive significant growth and innovation. By harnessing cutting-edge technologies such as AI, IoT, and advanced manufacturing techniques, Dune will optimize efficiency, reduce environmental impact, and deliver exceptional maritime solutions.
Annelies Damen, Board Member of Damen International, added: “We are excited to further strengthen our partnership with Al Seer Marine through our joint venture in the UAE. The establishment of Damen International and Dune are all part of our new strong foundation in the UAE for our future growth. Dune will utilize cutting-edge technologies and sustainable practices to deliver innovative solutions that meet the evolving needs of our maritime clients.”
Dune will leverage the combined expertise and infrastructure of Al Seer Marine’s facility in Abu Dhabi and the existing presence of the Damen family via Albwardy Damen’s shipyards in Sharjah, Fujairah, and Dubai. As the joint venture continues to grow, Dune remains committed to supporting the UAE’s vision of becoming a global maritime hub by driving innovation, fostering local talent, promoting sustainable practices, and growing within the maritime industry.
–ENDS-
About Al Seer Marine (ASM)
Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.
Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.
Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.
www.alseermarine.com
About International Holding Company (IHC)
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 892.8 billion as of September 30, 2024. IHC endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 1,000 subsidiaries, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.
www.ihcuae.com
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