New law establishes Drydocks World as Dubai Ports Authority affiliate

In addition to Drydocks World, the law also outlines Dubai Ports Authority’s responsibilities, which include strategic planning and policy development for overseeing the seaports and terminals in Dubai, regulating their operations, and developing and managing port infrastructure, among other things.

The law designates the authority to identify and regulate the businesses, activities, and professions authorised to operate in ports and terminals, among other responsibilities.

It defines the organisational structure of the Dubai Ports Authority, including the roles and responsibilities of the chairman of the Ports, Customs and Free Zone Corporation, the executive team of the authority, and the mechanism for appointing the CEO of the Dubai Ports Authority and delineating their responsibilities, reported WAM.

Any provisions, decisions, and memos issued to implement the aforementioned legislation will remain in effect until new ones are issued, as long as they do not conflict with the provisions of Law No (4) of 2023. The law shall come into effect on the date of its publication in the Official Gazette, WAM reported.

Overall aim of the law

According to the Dubai Media Office, the law seeks to “advance the Dubai Ports Authority’s position as a leading global model in port operation, management, and terminal handling. It aims to offer efficient operational services while regulating and developing the port sector in Dubai in accordance with strategic plans and policies”.

Additionally, the law will boost the emirate’s status as an international hub for maritime trade, facilitating the import, export, and re-export of goods through the emirate’s ports.

It also aims to create an attractive investment climate for sea freight and shipping logistics, promote the maritime sector, and encourage investment in maritime industries and services.

International Maritime Hub

Dubai was ranked fifth internationally as a top maritime hub, according to a survey by the Xinhua-Baltic International Shipping Centre Development (ISCD) Index in 2022.

Read: Dubai ranked among top five global maritime hubs

According to ISCD’s report, Dubai’s investments in infrastructure and the maritime sector have played a significant role in supporting the growth of emirate’s diversified mix of industries.

The report added: “It has a lot to shout about with its established ports including DP World-operated Jebel Ali and Mina Rashid, and purpose-built Dubai Maritime City – a 2.5 sq.km site developed in 2004 and situated between Mina Rashid and Dry-docks World.

“The latter also includes a free trade zone offering tax relief, and this, combined with a 2020 UAE decision to enable foreign ownership of certain maritime businesses, furthers its ambitions to position itself as an attractive option for international business and investment.”

#Dubai tops the region and ranks 5th internationally in the Xinhua-Baltic International Shipping Centre Development (ISCD) Index. pic.twitter.com/LYaGGQoSf5

— Dubai Media Office (@DXBMediaOffice) July 11, 2022

The report also highlighted how Dubai offers multiple free zones with easier business regulations.

Dubai Maritime Authority in 2022

7000
Registered marine crafts

17
Marinas

3,000
Berths

37%
Registered yachts

156%
Visiting foreign yachts

Consolidate Dubai’s position among the world’s top maritime centres pic.twitter.com/y2y4K974KZ

— Dubai Media Office (@DXBMediaOffice) March 6, 2023

Drydocks World – Dubai facts

1. Drydocks World completes over 300 projects a year on average at its shipyard in Dubai, located next to Port Rashed.
2. The yard is spread over 200 hectares, and includes three graving docks and a floating dock, as well as more than 3,700m of berth space.
3. Drydocks World boasts an in-house-built floating crane, which can lift 2,000 metric tonnes, including the weight of lifting gear for all types of heavy lift operations.
4. Drydocks World was recently awarded the prestigious Shipyard & Ship Repair Facility of the Year award at The Maritime Standard Awards 2022.