Oman Drydock Company (ODC) has issued a statement that details a number of notable achievements during 2018. The shipyard points out that it worked on a total of 130 vessels in the year, providing a range of repair and drydocking services, an increase of around 30% compared with previous years. ODC also managed to reduce its working capital by around US$10 million and achieved the best financial performance in its history, the company states.
The past 12 months have also been notable for the yard in winning the largest single contract to repair a commercial vessel since the establishment of the company in 2006. This involved repairs to the badly damaged Shipping Corporation of India (SCI) vessel Desh Vaibhav, which required 3500 tones of steel work. A start was also made on an income diversification programme, by winning a 15-year contract with Oman Oil Refineries and Petroleum Industries Company (ORPIC). Further diversification plans include entering the shipbuilding market in the foreseeable future.
The company has over the past year also launched, with Babcock International Group (UK), a new joint venture called Duqm Naval Dockyard (DND), to provide engineering solutions to international navies. DND is capable of performing complex, large scale jobs covering all categories of naval ships.