Shipyards unite to accelerate martime sustainability
Dubai, UAE: Drydocks World has co-founded the Global Green Shipyard Alliance (GGSA), an international coalition of leading shipyards committed to accelerating the maritime industry's sustainability transition.
The alliance aims to fast-track clean technology adoption, improve environmental performance, and set unified ESG standards across their global operations.
As a founding member, Drydocks World will play a central role in shaping the alliance's efforts while strengthening Dubai's position as a global hub for responsible maritime services.
Drydocks World is one of five founding members of the GGSA, alongside Astilleros Shipyard Group (Spain), BREDO Dry Docks GmbH (Germany), and IMC Shipyard Services Group (Singapore, China, Thailand). Together, the group spans key maritime hubs across Europe, the Middle East, and Asia.
The alliance comes at a pivotal time for the maritime sector, which is under growing pressure to decarbonise in line with global climate goals. By creating a platform for knowledge sharing, joint development and scalable innovation, the GGSA seeks to deliver practical solutions, from hybrid propulsion and energy efficient retrofits to digital optimization and emissions compliance.
Captain Rado Antolovic, PhD, CEO of Drydocks World, said: "The formation of the Global Green Shipyard Alliance reflects our shared responsibility to accelerate the maritime industry's decarbonisation journey. At Drydocks World, we are proud to be a founding member of this important initiative and to collaborate with our global counterparts to advance more sustainable, efficient practices across the sector. The alliance marks a significant step forward for our industry, reinforcing our commitment to delivering long-term environmental value by adopting cleaner technologies and collective innovation."
Imran Inamdar, Chief Operating Officer at Drydocks World, added:
"Drydocks World has long championed innovation and sustainability in ship repair. Through the Global Green Shipyard Alliance, we have an opportunity to work alongside our peers to drive measurable improvements across shipbuilding and retrofitting practices. This collaboration enables us to raise performance standards, improve operational outcomes and bring practical solutions to market faster. By aligning expertise and sharing lessons learned, we can move from intent to implementation and support the maritime sector's transition in a way that is both effective and scalable."
The GSSA marks the third major global coalition championed by DP World. It follows the Zero Emission Port Alliance (ZEPA), which aims to make battery-electric container handling equipment affordable and scalable, and the First Movers Coalition, where members aggregate their purchasing power to accelerate investments in zero-emission solutions.
About Drydocks World
Drydocks World, a DP World company, is a leading service provider for the maritime, offshore oil and gas and renewable energy industries. Established over 40 years ago, the shipyard has grown into one of the largest and most advanced facilities in the Middle East, strategically located next to Dubai's Port Rashid.
Drydocks World features five world-class docks and over 4,000 meters of berth space, capable of accommodating up to 10 ULCC vessels simultaneously, including the world's largest ships. The facility is also home to the largest load-out jetty in the Middle East and Africa, with a capacity to handle structures weighing up to 37,000 tonnes. With over 300 projects completed annually and a record of managing 42 refurbishment projects at once, Drydocks World plays a key role in supporting the global maritime and offshore energy industries.
The company specialises in ship and rig repair, maintenance, vessel conversions, and upgrades, while also driving innovation in advanced newbuild solutions. With growing expertise in offshore wind energy platforms, Drydocks World is helping position the UAE as a centre of excellence in maritime services and sustainable energy. As the international yard of choice, it delivers world-class solutions that power global trade, enable the energy transition, and promote long-term sustainable growth.
About DP World
DP World is reshaping the future of global trade to improve lives everywhere. Operating across six continents with a team of over 100,000 employees, we combine global infrastructure and local expertise to deliver seamless supply chain solutions. From Ports and Terminals to Marine Services, Logistics and Technology, we leverage innovation to create better ways to trade, minimizing disruptions from the factory floor to the customer's door.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
10 minutes ago
- Arabian Business
Analysis: UAE's massive AI investment could redefine its economic future
The United Arab Emirates is betting heavily on artificial intelligence as part of a sweeping economic transformation plan, signing multibillion-dollar technology deals and launching a landmark AI partnership with the United States amid growing global uncertainty. and a broader $1.4 trillion investment commitment over the next decade, underscoring the UAE's intent to anchor its non-oil economy in advanced technologies, including AI, semiconductors and cloud computing. Central to the initiative is the newly announced US-UAE AI Acceleration Partnership, aimed at deepening bilateral cooperation on artificial intelligence and related infrastructure. As part of the effort, the UAE secured a deal to import up to 500,000 Nvidia H100 chips annually, a cornerstone component in generative AI systems. 'Bilateral trade talks focused on artificial intelligence, advanced technologies, and semiconductors, culminating in the launch of the US-UAE AI Acceleration Partnership,' said Vijay Valecha, Chief Investment Officer at Century Financial. The Gulf nation also plans to invest in major U.S. AI firms including OpenAI and xAI, while Abu Dhabi-based Group 42 will build a 5-gigawatt AI data centre, set to become the largest of its kind outside the United States. Diversification drive The AI push forms part of a broader strategy to diversify the UAE economy away from hydrocarbons. Non-oil sectors accounted for 75 per cent of GDP in the first nine months of 2024, according to the UAE Ministry of Economy, with the non-oil economy expanding 4.5 per cent, outpacing overall GDP growth of 3.8 per cent. 'The UAE's projected 4.5 per cent growth in 2025 stands in sharp contrast to a global outlook marked by mounting risks and downward revisions,' Osama Al Saifi, Managing Director for MENA at Traze, told Arabian Business. 'This divergence is largely explained by the UAE's strong performance in non-oil sectors, supported by expansion in tourism, transport, construction, and financial services, as well as sustained momentum in foreign direct investment and trade.' The International Monetary Fund expects the UAE's economy to grow by 4 per cent in 2025 and 5 per cent in 2026, making it the fastest-growing economy in the Gulf Cooperation Council. In contrast, global trade growth is forecast to slow to 1.7 per cent this year, with a possible recession in the U.S. or Europe still looming, according to analysts at JPMorgan and Fitch. Hedge against external shocks The timing of the UAE's AI investment spree coincides with a deteriorating global economic outlook. While a potential recession in major Western economies would weigh on oil demand and trade, analysts say the UAE is better positioned than most to weather external shocks. 'The region is better equipped than in previous cycles, though not entirely shielded,' Al Saifi said. 'A recession in the U.S. or Europe would likely exert downward pressure on global oil demand and weigh on fiscal performance. Nevertheless, substantial sovereign wealth assets, contained inflation, and firm domestic demand provide a degree of protection.' The UAE's inflation rate is expected to remain stable at around 2 per cent in 2025, with consumer spending forecast to expand 4.3 per cent, supported by easing interest rates and robust domestic demand, Al Saifi added. 'A mild recession in the U.S. and parts of Europe during the second half of the year is increasingly likely, as the delayed effects of tight monetary policy, persistent inflation, and weakening manufacturing data converge,' Hamza Dweik, Head of Trading at Saxo Bank MENA, told Arabian Business. 'However, the UAE's strong macroeconomic fundamentals, active IPO pipeline, and diversified revenue streams position it as a relative safe haven in the global landscape.' Despite global volatility, UAE financial markets have shown resilience. Dubai F inancial Market (DFM) welcomed 19,366 new investors in Q1 2025, of whom 86 per cent were foreign nationals. Trading activity surged, with average daily trading value reaching AED 663 million, up 67 per cent year-on-year, according to Century Financial. UAE equity valuations also remain below historical averages. The DFMGI index trades at a trailing P/E of 9.5x, about 16.5 per cent below its five-year average, while the ADSMI index is down 16.3 per cent from its historical norm. 'The indices appear undervalued considering the UAE's solid fundamentals and growth trajectory,' said Valecha. 'With over 74 per cent of GDP coming from non-oil sectors closely linked to market performance, equity markets deserve a better valuation.' Strategic positioning The UAE's AI ambitions are not solely economic. Investments in U.S. data infrastructure, semiconductor supply chains, and critical mineral projects are helping strengthen bilateral strategic ties. Abu Dhabi's $25 billion partnership with Energy Capital Partners, and a $60 billion energy cooperation framework with ExxonMobil and Occidental Petroleum, indicate a multipronged strategy that blends AI leadership with industrial leverage. 'Technology will be central to the UAE's next growth cycle – AI, green innovation, digital finance – these are the sectors that will help insulate the economy from external volatility,' Al Saifi said. PwC estimates the AI sector could contribute over $320 billion to the Middle East economy by 2030, with the UAE positioned to capture the lion's share through early infrastructure deployment, regulatory reform and foreign investment attraction. 'Sectors with strong global linkages – such as logistics, real estate (particularly off-plan investment-driven projects), and non-oil exports like aluminum and petrochemicals – are most vulnerable to a potential U.S. recession,' Dweik said. He added that sectors like tourism, hospitality, and sovereign-backed infrastructure projects are expected to remain resilient, supported by 'robust domestic demand and long-term strategic initiatives.' 'The projected non-oil GDP growth of 4.6 per cent in 2025 indicates the ongoing success of diversification and structural reform initiatives,' Valecha added. Dweik echoed his sentiment, adding that diversification remains essential in the current economic environment. 'Investors should consider blending traditional and alternative assets, such as sukuk, infrastructure, and private equity, while also diversifying geographically… Allocating capital across resilient sectors like healthcare, technology, and tourism will help regional investors navigate uncertainty.'
The National
17 minutes ago
- The National
Bezalel Smotrich blocks Israeli and Palestinian banks from working together
Israel's Finance Minister has cancelled a waiver allowing Israeli banks to work with Palestinian counterparts in a move that could paralyse the Palestinian economy. It comes hours after the UK and other countries imposed sanctions on him and another hard-line minister. Bezalel Smotrich had threatened in May last year to cut the vital connection between Israel and Palestinian banks in the occupied West Bank in retaliation for the recognition of the State of Palestine by three European countries. A statement issued by the Israeli Finance Minister's office on Wednesday read: "Against the backdrop of the Palestinian Authority's delegitimisation campaign against the State of Israel internationally, Finance Minister Bezalel Smotrich has instructed Accountant General CPA Yali Rothenberg to cancel the indemnity provided to correspondent banks dealing with banks operating in Palestinian Authority territories." The Palestinian financial and banking system is dependent on the regular renewal of the waiver. It protects Israeli banks from potential legal action relating to transactions with their Palestinian counterparts, for instance in relation to financing terrorism. The move comes after the UK, Canada, New Zealand and Norway announced sanctions on Mr Smotrich and Israeli Security Minister Itamar Ben-Gvir over links to "extremist violence and serious abuses of Palestinian human rights", the countries said in a joint statement. This is not the first time Mr Smotrich has sought to punish Palestinians for international condemnation of Israel's occupation and actions. After Norway, Ireland, Spain, Armenia and Slovenia announced their recognition of a Palestinian state last year, the minister announced Israel would recognise five illegal Israeli settlements in the occupied West Bank, a territory he has repeatedly called for his country to annex. In July, G7 countries urged Israel to "take necessary action" to ensure the continuity of Palestinian financial systems. It came after US Treasury Secretary Janet Yellen warned that "to cut Palestinian banks from Israeli counterparts would create a humanitarian crisis". The overwhelming majority of financial exchanges in the West Bank are in shekels, Israel's national currency, because the Palestinian Authority does not have a central bank under which it could print its own currency. But Israeli banks were continuing to work with Palestinian branches because of the waiver. The UN has warned that 'unilaterally cutting off Palestinian banks from the global banking system would be a violation of the fundamental principles of international law'. This pressure had until now pushed the Israeli government to continue agreeing to short extensions of the waiver, but far-right ministers such as Mr Smotrich and Mr Ben-Gvir have long objected.
Gulf Today
21 minutes ago
- Gulf Today
Experts discuss AI integration into education
Experts in the fields of education and artificial intelligence (AI) discussed the key challenges and opportunities ahead, including integrating AI into the curriculum and its broader impact on students. The panel discussion was organised by the British Chamber of Commerce Dubai (BCCCD) and addressed by Katy Holmes, CEO of BCCD, Naz Panju, CEO of British Canadian International Education Ltd, Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, Radha Bharj, CIPD AI Subject Matter Expert and Founder of The Future of Work Management Consultancies FZCO and Prof. May El Barachi, Dean of Computer Science at the University of Wollongong in Dubai. Katy Holmes, said, 'The UAE's decision to embed AI into public schools reflects its wider ambition to lead in innovation and future-readiness. Within the Chamber, we are closely following developments in AI and their impact across sectors. The Chamber embraces its role to help bridge the gap between academia and industry by creating an open forum for knowledge-sharing and discussion. As AI becomes more deeply embedded in education, it's vital that educators and employers stay aligned to ensure future graduates are equipped with the right mix of technical and human skills.' Among the opportunities of integrating AI into the classroom is the personalisation of learning, according to Naz Panju, CEO of British Canadian International Education Ltd. She said, 'The leading intervention to improve student performance is personal tutoring, and AI offers the opportunity for every child to have a one-on-one personal tutor that works at their own pace.' Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, highlights the opportunities to help monitor performance and predict learning trends to facilitate better informed decisions in education planning. She said, 'Our platform provides real-time data reporting on student performance. It can also forecast future academic development to create tailored solutions based on each student's learning needs and provide data-driven insights that enable institutions to make more strategic decisions in line with KHDA benchmarks.' Contrary to concerns that AI will dilute the development of essential skills, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, said that, when used in the right context, the technology will enhance learning. He explained, 'AI tools can offer a different way to develop skills that are already being taught.
