ASM secures Dhs47.6m contract for high-speed interceptor fleet

Al Seer Marine to deliver vessels to Albwardy Damen in Sharjah and it is designed for integration into offshore patrol vessels

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AI Seer Marine (ASM), a frontrunner in advanced maritime solutions and a subsidiary of International Holding Company (IHC), has secured a production agreement valued at Dhs47.6 million to deliver high-speed interceptor vessels to Albwardy Damen (Damen Shipyards Sharjah - DSSh).

Delivery will span 42 months, with the units slated for integration into offshore patrol vessels (OPVs). All vessels will be designed, built, and outfitted entirely in the UAE, in alignment with the country's "Make it in the Emirates" industrialisation initiative.

"The global OPV market is projected to grow from $38.1 billion in 2024 to $73.3 billion by 2033, at a CAGR of 7.15 per cent, according to a recent report published via GlobeNewswire-positioning it as one of the highly profitable segments in the shipbuilding industry." "With our long-term strategic vision, we anticipated this trajectory early, driving targeted investments in our technologies, infrastructure, and engineering depth to establish the naval shipbuilding vertical as a core driver of our revenue growth, portfolio diversification, margin resilience, and long-term value creation for our investors," said Guy Neivens, CEO of AI Seer Marine.

The move comes in response to accelerating global and regional demand for OPVS, particularly in the Middle East, where maritime security and naval capability development have become national imperatives.