Adriatic42 — a joint venture company between PM Holdings LLC, an Investment Corporation of Dubai (ICD) company, and Drydocks World Dubai, a DP World company, was officially launched. The announcement marks the beginning of significantly enhanced operations at the new full-service facility in Bijela, Herceg Novi, Montenegro. The world’s largest sailing yacht, Black Pearl, became the first boat to dock in Adriatic42’s superyacht yard earlier this month for its ongoing refit.
Adriatic42 already employs approximately 100 staff, who bring a long tradition of maritime expertise to the yard. The former Bijela shipyard, nearly 100 years old, was the largest ship repair yard in the Southern Adriatic. The new joint venture will extend this maritime heritage. Its location in one of the most sought-after seas in the world, makes it a haven for the global luxury yachting community. Facilities include a 180 meter long 34 meter wide floating dock, and a 720-tonne travel hoist, which is the largest of its kind in the region. The space also plays host to 8,000 sq. m of warehouses and workshops and 100,000 sq. m of hard-standing space. In 2023, the shipyard is also expected to take delivery of a 6,000-tonne Syncrolift.
“From this day onwards, the launch of Adriatic42 puts Montenegro at the center of the world’s nautical tourism industry. Adriatic42’s comprehensive facility and service offerings from quality repairs and fabrication, as well as moorings, will allow yacht owners to enjoy Montenegro’s world-class marinas all year round,” says Milo Đukanović, His Excellency President of Montenegro.
“The opening of this unique facility for the refit and maintenance of mega yachts, marks the beginning of a new era of sustainable and modern shipbuilding globally. It is also a great boon for the maritime and yachting sectors in Montenegro, with more than €40 million invested in the project to date, including for the acquisition of the state-of-the-art infrastructure and investments in sustainable technologies,” mentioned Captain Rado Antolović, Chairman of Adriatic42.
“During the first year of operation, our goal is to serve 14 superyachts, and to increase the number to 109 within a period of five years,” he added.
Credits: Adriatic42