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  • 2011 December 21 07:06

    Drydocks World plans to sell SE Asian yard stakes

    Drydocks World may sell stakes in its yards in Indonesia and Singapore as it looks to close a $2.2bn debt restructuring, Seatrade Asia online reports. Drydocks World Chairman Khamis Juma Buamim told reporters it is looking at joint ventures for some of its Southeast Asian operations.“It's not selling majority stakes," he said. "They will be partners in the yards, for instance ... to build capacity for themselves and us also." Buamin did not reveal any potential partners for its yards in Southeast Asia.
    The company has three yards in Batam, Indonesia and one in Singapore which acquired from Pan United and Labroy Marine in 2007. 
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