UAE: Dubai World has announced that its shipbuilding arm Drydocks World and its subsidiaries will not be part of its proposed restructuring plan.
According to Dubai World, Drydocks World has been in "constructive dialogue with its lenders for several months" and its financial profile does not require it to be included in the more wide-ranging restructuring process.
Drydocks World provides a range of shipbuilding services including ship repair, shipbuilding, rig building, ship conversion, offshore fabrication. It also owns fleet operations with facilities across the Middle East and Southeast Asia.
