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CURRENT ISSUE

BEATING THE PIRATES
What's the best way for a shipowner to avoid having a ship hijacked by pirates?

Reroute the ship even if it means a huge diversion
Stay within recommended safe limits and patrolled areas
Hire an on-board security team
Just hope for the best

October 18, 2008

Drydocks World to take 60% stake in Chinese shipyard

The Southeast Asian operations of Dubai Drydocks World (DD World), the ship repair, conversion and building subsidiary of Dubai World, are likely to record a 22 per cent rise in revenue this year, a top company official told Khaleej Times on Friday.

Khaleej Times also reports that DD World has agreed to acquire a 60 percent stake in shipyard in China for $55 million. The acquisition will be a joint venture, with Singapore-based Topniche Associates owning the remaining 40 per cent of the shipyard, which is located in the Yangtze River delta. The deal is likely to be finalized by year-end.


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