Following on from the successes of the previous year, 2005 was a record year for Asry, with its best set of results across the board.

The company had record results with sales in excess of $110 million, up 19.28 per cent on the previous year.
Throughout the entire year the yard has been kept virtually fully occupied with some 153 vessels in for repair, again up by some 16 per cent on the previous year.
As it is now the norm, the range of vessels repaired covered the complete spectrum of vessels from the largest ULCCs to LPGs, livestock vessels to offshore crane ships and diving support vessels.
Again turnover on repaired vessels increased and of those vessels docked during 2005, 34 vessels were in the 70,000 to 350,OOO dwt range, with 13 over 175,OOO dwt, with the remaining 119 vessels below 70,000 dwt.
A further 25 vessels undertook along side repairs making a total tonnage of just under eight million dwt repaired during the year.
High dock occupancy
Throughout the year all three docks were consistently busy with continuously high demand from owners.
This demand has lead Asry to extend the yard's services with the construction of a new slipway complex, capable of handling three vessels, each 140 m in length. This project is on track to be operational by July 2007.
Graving Dock No 1 again achieved an occupancy level of over 95.6 per cent, the same as in 2004, with over 65 per cent of the vessels being over 70,000 dwt and 35 per cent above 175,000 dwt.
High demand has again led to the two large floating docks being kept extremely busy with Floating Dock No 2 having an occupancy rate of some 95.3 per cent, up on the previous year from 83.6 per cent, where as Floating Dock No 3 achieving 95.4 per cent, again on a par with the previous year.
These high occupancy rates clearly illustrate the high demand for services in the Yard.
Strong Arabian and international support
Throughout the year Asry has again been strongly supported by local owners in the Arabian Gulf area as well as from the international markets and a large number of owners have had multiple dockings in the Yard throughout 2005.
During the year Kuwait Oil Tanker Co had a total of eight vessels in for repairs as well as the ongoing contract with their new service boat.
Dynacom Tankers Management, out of Greece, and Halul Offshore Services Co WLL from Qatar had five vessels each in for repairs; similarly Bergesen DY ASA from Norway and UCO Marine Contracting & National Marine Dredging from Bahrain had four vessels.
Also there were a host of owners who had three vessels in for repairs; these included Salaiti Marine Services from Bahrain, Vela International Marine Ltd in Saudi Arabia, National Petroleum Construction Co in the UAE, Varun Shipping Co Ltd from India, Odfjell from Norway, Yasa Shipping Ind & Trading SA from Turkey, the National Iranian Tanker Co and Zodiac Maritime Agencies Ltd from the United Kingdom.
High demand
Due to the large number of civil engineering and construction contracts that are now taking place throughout the Arabian Gulf area, there has been a high demand for repair and maintenance work from the international and local dredging companies, who will be in the region for the next five to six years.
Asry has a proven track record in dealing with these sophisticated and complex vessels and in all has undertaken repairs on over thirteen such vessels during the year.
These have included dredgers from the National Marine Dredging Company in Bahrain, the Qatar Dredging Company in Qatar as well as Dredging International, Jan De Nul and N V Baggerwerken Decloedt en Zoon in Belgium and Baggermaatschappij Boskalis in Holland.
Major repairs undertaken
Some of the major repairs completed during the year included the Berge Enterprise at 360,700 dwt from Bergesen DY ASA Norway, the Gemini Star at 301,862 dwt, the Venus Glory at 299,089 dwt and Mars Glory at 299,089 dwt from Vela International Marine Ltd, the Al Tahreer at 284,532 dwt, Al Funtas 294,739 dwt and the Al Salheia at 310,000 dwt, Kazimah at 290,085 dwt, the Gas Al Minagish at 47,471 dwt and the Warbah at 66,602 dwt from Kuwait Oil tanker Co SAK, the Iran Hormoz 299,261 dwt and Iran Astara at 99,097 dwt from National Iranian Tanker Co, the Romea Champion at 154,578 dwt from Unicorn Management Services and the Patris at 298,543 dwt from Ghandris (Hellas) Inc and the Kudam at 101,832 dwt and Tataki at 244,275 dwt, from Dynacom Tankers Management and the Makronissos at 106,106dwt from Eletson Corporation in Greece.
Also repaired were the Johar 86,803 dwt and Swat 86,593 from Pakistan National Shipping Corporation as well as two LPG carriers, the Berge Summit 50,748 dwt from Bergesen DY ASA and the Maharshi Vyas 18,165 dwt from Varun Shipping Co Ltd, the Pacific Senator 45,696 dwt from Reederei F Laeisz GmbH and the China Sea at 49,279 dwt from Tanker Pacific Management, the Kate at 150,903 dwt from Neda Maritime Enterprise Inc in Greece and the Yasa Aysen 52,434 dwt from Yasa Shipping Industry and Trading, the Millenium IV 34,196 dwt from Sekur Holdings Inc, the Al Mansour 72,562 dwt from Torvald Klaveness and Co.
Other vessels included the heavy lift crane ship Stanislav Yudin from Seaway Heavy Lift in the Netherlands and diving support vessel Adam Challenge from Saudi Arabia.
All of the above contracts were extremely successful, and as already stated there were many repeat orders from owners again illustrating the high levels of expertise Asry has in this business and ensuring that the Yard maintains its position as a world leader in the ship repair industry.
High demand for blasting and painting
The demand for high quality blasting and painting services continued to remain high throughout the year for Asry with just under one million sq metres of blasting completed along with over four million sq metres of painting undertaken.
These figures are on a par with those achieved in the previous year and this upward trend has now continued for the past five years.
Lat year saw high demand for steel work with over 6,500 tonnes of steel used in a number of major repairs, similarly the demand for boiler work remained high with 59 being repaired.
This was the same number of repairs as undertaken in 2004. To summarise Asry has again had a very successful year and the indications from the level of contracts already awarded for 2006 are that the rest of this year will also be busy.