ASRY & Priya Blue Launch World-Class Ship & Offshore Recycling Venture

[By: Priya Blue Group]

The arrival of the first vessel under the ASRY - Priya Blue joint venture marks the transition from strategic partnership to active operations, establishing a world-class facility for compliant and environmentally responsible ship- and offshore asset recycling in the Middle East.

Arab Shipbuilding & Repair Yard Company (ASRY), the leading industrial maritime hub, and Priya Blue Group, South Asia’s largest green ship recycling company, have formally launched their joint venture following the arrival of the first vessel for recycling in Bahrain. As part of this structure, Best Oasis, one of the world's leading cash buyers of ships & energy assets (offshore) for recycling, is supporting the joint venture in sourcing tonnage and managing the commercial acquisition of vessels brought to the Bahrain facility

The partnership combines ASRY’s 49 years of marine and heavy industrial infrastructure with Priya Blue’s three decades of ship recycling experience. The JV provides an integrated recycling solution covering vessel sourcing, recycling operations, safety and environmental management, compliance documentation, hazardous waste management, dry dock and slipway access, heavy lifting infrastructure, and regulatory support within Bahrain.

In addition to conventional vessels, the joint venture is particularly well positioned to support the recycling of complex offshore assets including FPSOs, FSOs, rigs and offshore structures.

The yard holds the licenses required to recycle vessels containing hazardous materials originating from production fluids. This includes the handling, storage, treatment, export and disposal of NORM (Naturally Occurring Radioactive Material) waste, which represents a key challenge in the recycling of offshore assets and production facilities.

Recycling operations can be performed using dry dock, slipway and alongside methodologies, with capability to recycle vessels up to ULCC (Ultra Large Crude Carrier) size as well as receive rigs and offshore structures directly onto berth. The facility incorporates ship recycling, environmental protection and hazardous waste management systems.

The joint venture operates in alignment with the principles of the Hong Kong Convention (HKC) and EU SRR which supports the development of Bahrain as a regional hub for compliant ship and offshore recycling.

Commenting on the launch, ASRY CEO Dr. Ahmed Al Abri stated: “ASRY has been and continues to be the most experienced maritime hub in the region for five decades. We have successfully delivered complex repair and maintenance operations for some of the world’s most demanding vessels, serving operators from across the globe.”

He added: “Partnering with Priya Blue to bring best practices in ship recycling to the Kingdom of Bahrain represents a strategic extension of ASRY’s journey and evolution, while this vessel marks the beginning of this new phase.”

Sanjay Mehta, Chairman of Priya Blue Group commented: “We have recycled over a hundred complex vessels at Alang. We know what compliant, responsible ship recycling looks like - and what it takes to deliver it consistently. Bahrain is not an experiment. It is a deliberate expansion of a proven operation, and this vessel is its opening statement.”