Al Seer Marine and Damen International Expand Dune Joint Venture, Targeting Growth in Commercial Maritime Sector
November 11, 2024 – In a strategic move to strengthen its global presence, Al Seer Marine (ADX: ASM), a leading player in the maritime industry and a subsidiary of International Holding Company (ADX: IHC), has announced an expansion of its joint venture with Damen International. Originally established in 2022, the joint venture, named Dune, was initially focused on naval shipbuilding. Now, with a robust foundation in place, Dune is expanding its operations to enter the commercial shipbuilding market, solidifying its position as an emerging leader in the global maritime industry.
Dune’s mission is clear: to harness the combined expertise, technological prowess, and production capabilities of both Damen International and Al Seer Marine to establish itself as a dominant force in both the naval and commercial sectors. Through this expansion, Dune aims to provide cutting-edge solutions that meet the needs of a rapidly evolving maritime landscape, with a particular focus on efficiency, innovation, and sustainability.
Expanding Dune’s Reach Beyond Naval Shipbuilding
With Al Seer Marine’s extensive manufacturing capabilities and Damen International’s industry-renowned shipbuilding expertise, the expansion into commercial shipbuilding represents a significant shift for Dune. The company will now be positioned to serve a broader array of clients across the maritime industry, leveraging both partners’ assets and infrastructure to streamline production and offer high-quality vessel solutions.
The move aligns with the UAE’s ambitions to establish itself as a leading global maritime hub, combining local talent and international expertise to drive growth within the sector. Dune will continue to build on its core strength of naval shipbuilding while exploring new commercial avenues, focusing on environmentally friendly practices and the incorporation of advanced technologies.
Diverse Service Offerings for a Modern Maritime Industry
Dune’s offerings go beyond ship construction; the joint venture provides a comprehensive suite of maritime services that cover technical, operational, and commercial vessel management. This includes end-to-end solutions for new build project management, operational oversight, financial management, and support for global sales and acquisitions of both commercial and naval vessels. By integrating these services, Dune positions itself as a one-stop solution for clients seeking a complete maritime partner.
According to Guy Neivens, CEO of Al Seer Marine, “We are thrilled to witness the continued growth and success of our joint venture with Damen. By leveraging our advanced manufacturing capabilities and UAE-based production facilities, combined with Damen’s renowned shipyards in the region, we’re confident in our ability to deliver innovative and efficient maritime solutions. In 2025 alone, we expect to produce over 26 vessels, all constructed within the UAE to serve both domestic and international clients.”
Harnessing Technology for Maritime Innovation and Sustainability
As Dune’s operations expand, the joint venture is deeply committed to innovation. With a robust pipeline of both naval and commercial projects, the company aims to integrate cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), and advanced manufacturing techniques into its processes. These technologies will help Dune to enhance efficiency, minimize environmental impact, and create advanced maritime solutions tailored to the unique demands of the industry.
The joint venture’s emphasis on sustainable practices also reflects the growing importance of eco-friendly solutions in the maritime sector. By utilizing sustainable materials, optimizing energy usage, and exploring alternative fuels, Dune aligns its operations with global environmental standards, offering clients advanced vessels that are both high-performing and environmentally conscious.
Annelies Damen, a Board Member of Damen International, expressed her enthusiasm for the expansion: “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 part of a strong foundation 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. We are committed to supporting the UAE’s vision for becoming a leading maritime hub.”
Strategic Infrastructure and Talent Development in the UAE
The joint venture leverages both Al Seer Marine’s facility in Abu Dhabi and Damen’s Albwardy shipyards, strategically located in Sharjah, Fujairah, and Dubai. These facilities provide a comprehensive infrastructure that allows Dune to meet the demands of a growing client base across the Middle East and beyond. By manufacturing vessels locally, Dune not only supports the UAE’s economic goals but also reduces production times, ensuring clients receive top-quality, efficiently produced ships tailored to their specific requirements.
A key aspect of Dune’s mission is to foster local talent within the UAE. The joint venture plans to invest in workforce development, providing training programs and educational initiatives aimed at cultivating a new generation of skilled professionals in the maritime sector. This focus on talent development not only ensures Dune’s long-term success but also contributes to the broader goals of the UAE’s Vision 2030, which emphasizes economic diversification and innovation.
Positioned for Global Growth in Maritime Innovation
The expansion of Dune marks a new chapter for both Al Seer Marine and Damen International. By blending Al Seer Marine’s UAE-based production capabilities with Damen’s extensive shipbuilding expertise, the joint venture is well-positioned to capitalize on growth opportunities across the global maritime sector. This expansion will allow Dune to cater to a wider client base, meeting the increasing demand for both naval and commercial vessels in international markets.
The joint venture is committed to furthering the UAE’s reputation as a global leader in maritime innovation. By promoting sustainable practices, advancing local expertise, and creating high-quality vessels for a diverse clientele, Dune is poised to make a lasting impact on the industry.
About Al Seer Marine and Damen International
Al Seer Marine, listed on the Abu Dhabi Securities Exchange (ADX: ASM), is a premier maritime company under the umbrella of International Holding Company (ADX: IHC). The company specializes in maritime services, including vessel construction, management, and technology integration, with a strong focus on both domestic and international markets.
Damen International is part of the renowned Damen Shipyards Group, a family-owned global shipbuilding company known for delivering a wide range of high-quality vessels. With decades of experience in naval and commercial shipbuilding, Damen brings a wealth of expertise and resources to the joint venture, ensuring that Dune benefits from a legacy of innovation and excellence.
For more information on Dune and its expanded offerings, visit www.damen.com and www.al-seer.com.