Abu Dhabi’s Al Seer Marine has sealed a joint venture deal with Damen Shipyards to target what it sees as huge potential in shipbuilding.

The shipowner and yard group said the deal with the Dutch offshore vessel specialist also involves DTec Industries, a Singapore financial services company.

The idea is to combine the best maritime talent in the industry and help position the United Arab Emirates as the global centre for excellence, Abu Dhabi-listed Al Seer added.