ARAB Shipbuilding and Repair Yard Company (Asry) and Priya Blue Group, South Asia’s largest green ship recycling firm, have formally launched their joint venture following the arrival of the first vessel for recycling in Bahrain.
The partnership is supported by Best Oasis, a top global cash buyer of ships and offshore energy assets, which will handle vessel sourcing and commercial acquisitions for the Bahrain facility.
The joint venture combines Asry’s 49 years of marine infrastructure with Priya Blue’s three decades of recycling experience. It offers an integrated solution covering vessel sourcing, recycling operations, environmental management, hazardous waste handling, and regulatory support.
Beyond conventional vessels, the venture is equipped to recycle complex offshore assets including FPSOs, FSOs, rigs, and offshore structures. The yard holds specialised licences to handle, treat, and dispose of Naturally Occurring Radioactive Material (NORM) waste, a major challenge in offshore decommissioning.
Operations will utilise dry docks, slipways, and alongside berths, with the capacity to accommodate vessels up to Ultra Large Crude Carrier (ULCC) size. The facility operates in alignment with the Hong Kong Convention (HKC) and EU Ship Recycling Regulation (EU SRR) standards, establishing Bahrain as a compliant regional recycling hub.
Asry chief executive officer Dr Ahmed Al Abri said partnering with Priya Blue to bring best practices in ship recycling to the kingdom represents a strategic extension of Asry’s five-decade evolution as a regional maritime hub.
Priya Blue Group chairman Sanjay Mehta added that the Bahrain operation is a deliberate expansion of a proven operation, utilising the group’s extensive experience in compliant, responsible ship recycling.
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