Dubai World, which runs the world's third largest port operator, DP World, has announced the establishment of Dubai Drydocks World (DD World) to consolidate its dry docks and maritime businesses.

DD World will comprise of four principal companies: Dubai Drydocks, Al Jadaf Shipyard, Platinum Yachts FZ and Platinum Yacht Management. It said these business units have aligned activities, which involve ship repair, conversion and ship building.

"The move to establish Dubai Drydocks World is aimed at facilitating group strategy, policy and financial and operational control of business units that have aligned activities," said Dubai World Chairman, H.E Sultan Ahmed Bin Sulayem.

"It is a response to the increasing worldwide demand for high quality shipping and maritime services. We are confident DD World will be a dominant player in the international market in the near future," he continued.

Chief Executive Officer of DD World, Geoff Taylor, added: "Over the next two years the group will complete a number of expansion projects which will establish DD World as a global brand in the worldwide ship repair, conversion and new building market."



Dubai Drydocks has been operating since 1983 and says its has grown from humble beginnings into a world leader in the ship repair and conversion business.

Following the completion of a $81 million expansion project, it is also establishing itself as a major ship builder.

Jadaf Shipyard, which has been operating since the late 70's, provides services within the region to smaller vessel owners.

The new Jadaf facility will have a 6,000 and 3,000 tonne shiplift for general ship repair activity and a 700 tonne vessel lifter to support the yacht building and manufacturing businesses.

Platinum Yachts FZ is a fledgling company targeting the super yacht conversion and refurbishment business and may also grow into yacht building. It aims to become a major regional and international player in this market.

The decision to establish Dubai Drydocks World is a reflection of the ambitions to expand the group both regionally and internationally with partnerships, acquisitions and management contracts, it said in a statement.