Al Seer Marine and Damen International Announce Expansion of Joint Venture- Dune

Al Seer Marine and Damen International Announce Expansion of Joint Venture - Dune

The Joint Venture is expanding beyond the naval sector into the commercial maritime, to solidify its position as a global industry leader.
Dune’s mission is to leverage the combined strengths of Damen International and Al Seer Marine to become a global leader in naval and commercial shipbuilding.

Abu Dhabi, November 11th, 2024: Al Seer Marine (ADX: ASM), a frontrunner in the maritime industry and a subsidiary of International Holding Company (ADX: IHC), and Damen International, part of the Damen family which is known from the renowned global shipbuilding company Damen Shipyards Group, have further solidified their strategic partnership with the expansion of their joint venture, Dune.

Established in 2022, the joint venture initially focused on naval shipbuilding. Now, expanding its operations, Dune is entering the commercial shipbuilding market. This strategic move strengthens its position as a global leader in the maritime industry.

Beyond shipbuilding, Dune offers a range of specialized services, including technical, operational, and commercial vessel management; new build project management; operational and financial business management; and international maritime business facilitation, including global sales and acquisitions of commercial and naval vessels from the UAE.

Guy Neivens, CEO of Al Seer Marine, stated: “We are thrilled to witness the continued growth and success of the joint venture. By leveraging our advanced manufacturing capabilities and extensive UAE-based production facilities, coupled with Damen’s family robust shipyards in the region, we are confident in our ability to deliver innovative and efficient maritime solutions. In 2025 alone, we anticipate producing over 26 vessels, all constructed within the UAE to serve both domestic and international clients.”

Bolstered by a robust pipeline of both naval and commercial projects, the joint venture is well-positioned to drive significant growth and innovation. By harnessing cutting-edge technologies such as AI, IoT, and advanced manufacturing techniques, Dune will optimize efficiency, reduce environmental impact, and deliver exceptional maritime solutions.

Annelies Damen, Board Member of Damen International, added: “We are excited to further strengthen our partnership with Al Seer Marine through our joint venture in the UAE. The establishment of Damen International and Dune are all part of our new strong foundation in the UAE for our future growth. Dune will utilize cutting-edge technologies and sustainable practices to deliver innovative solutions that meet the evolving needs of our maritime clients.”

Dune will leverage the combined expertise and infrastructure of Al Seer Marine's facility in Abu Dhabi and the existing presence of the Damen family via Albwardy Damen's shipyards in Sharjah, Fujairah, and Dubai. As the joint venture continues to grow, Dune remains committed to supporting the UAE's vision of becoming a global maritime hub by driving innovation, fostering local talent, promoting sustainable practices, and growing within the maritime industry.

The Joint Venture is expanding beyond the naval sector into the commercial maritime, to solidify its position as a global industry leader.

Dune’s mission is to leverage the combined strengths of Damen International and Al Seer Marine to become a global leader in naval and commercial shipbuilding.