OAPEC

Review of ASRY's 1986 Operations

The OAPEC-sponsored Bahrain-based Arab Shipbuilding and Repair Yard (ASRY) registered a net gain of 20% at the operating level in 1986 compared to 1985, according to the company's Annual Review. According to ASRY Chairman Shaikh Du'aij ibn Khalifah al-Thani, market conditions in the past year remained difficult, but higher tanker freight rates have brought a number of tankers out of lay-up and hopefully will improve the overall demand for...