As expected, there has been no let up in number of enquiries received for the yard and all indications are that 2007 will be another record year. During the second quarter there were 56 vessels booked along with 39 repairs completed. Sales revenues were up by some 140% over the same period last year (which in itself was a record year). Similarly, contract values per vessel for repairs have also risen in line with these increases. The first six months of this year have seen a total of 103 contracts placed with ASRY, including for works barges, dredgers and offshore support vessels. During the first half of the year, over 2.2 million dwt of vessels were repaired by ASRY with 45.95% coming from the Arab markets and 54.05% from the international markets.

Some forward looking owners, aware of the problems of reserving quality space, have already confirmed bookings for their vessels into 2008, emphasising the fact that it is now becoming essential for owners to forward plan their dockings to ensure that they can get them into the yards they want.

The large number of contracts won over the first six months have come on the back of some 218 specifications being received, resulting in a 43.41% success rate compared to the 32.4% over the same period last year. As to be expected with record results, the dock occupancy rates have been consistently high, with the graving dock achieving 100%. Likewise, the two floating docks have seen increases in occupancy, with 98.3% for Floating Dock Number 2 and 98.9% for Floating Dock Number 3.

Dutch dredging contractor Boskalis and America's major international contractor Great Lakes Dredge & Dock Co both had multiple dockings.

The construction of ASRY’s new twin slipways is progressing well. The two slipways, each with a total length of 510m, a dry berth length of 255m, and equipped with 360 tons of pulling capacity, are the largest in the Middle East and among the largest ship recovery lipways in the world. With a total budget of US$ 20 million, work commenced in February 2007 with the main construction contract being awarded to Ahmed Mansour Al-A’ali Co. BSC (C) at a cost of US$ 13.5m.

The dredging operation for the slipways’ deep end was completed earlier in the year and since then a huge cofferdam, isolating the site from the sea, has been constructed, allowing earth excavation work to proceed. The slipways are expected to be operational by the end of February next year.