Dutch broker Amstgeld cut is recommendation for Dutch shipbuilding and engineering group IHC Caland to "Underperformer" from "Neutral". Amstgeld said it expected the company to show a "gap" in 2001 profits, as no major floating production and storage unit orders were recorded in the second half of 2000. Although the company will profit from a renewed surge in the oil and gas sector, shares will be hit by the disappointing 2001 situation, Amstgeld said in a note to investors. – (Reuters)
IHC Caland reported that it had won new orders recently worth more than $100 million and would continue to meet its banking covenants. J.P. Morgan had said in October that IHC's high gearing implied the risk of a possible breach of its debt covenants. The group, whose main activity is building and operating floating production and storage platforms (FPSOs) for oil companies, also said on Tuesday that U.S. oil major Exxon Mobil Corp
Dutch IHC Caland NV said on Monday preliminary net profit rose eight percent in 2000, and reflected on a "difficult and often frustrating year." Net profits are expected to be 75 million euros ($69.4 million), compared with 69.5 million in 1999. The figure came in at the low end of analysts expectations, but at exactly the level the company predicted in September. Company watchers had forecast the company's net profits would be 75.3-77.2 million euros, with a consensus at 76.3 million euros
Indofin Group, the investment company, owned by the De Bruin family, has acquired a majority shareholding of 62% in IHC Merwede. Rabo Capital (10%) and IHC Merwede management and staff (28%) are the other principal shareholders. Indofin has obtained this significant stake in IHC Merwede by partially taking out each of its coshareholders. Indofin’s Chairman, Cees de Bruin, said, “We have already been a shareholder of this great company for eight years and we are in full support
The National Association the Zonnebloem has chosen the Merwede Shipyard to build the new holiday ship for the sick and handicapped. The contract was signed on November 4 at the shipyard in Hardinxveld-Giessendam. The plan is to start work at the yard in spring 2005 on building the new holiday ship of the Zonnebloem. The first holiday makers will be able to board the ship in March 2006. Ton Rietdijk, director of Merwede Shipyard, is enthusiastic about the new commission
IHC Merwede B.V. launched its first regional office in Singapore. The setting up of this 38,000-sq.-ft. facility is part of IHC Merwede’s global strategy to provide its customers with optimal life cycle support and leverage upon the expanding Asia Pacific dredging and offshore markets. “With the rapidly increasing worldwide demand for oil and gas, we are seeing exciting opportunities, particularly within the Asia Pacific region. We are targeting to capture over 55%
IHC Merwede will exhibit a broad range of its innovative vessels, advanced equipment and lifecycle support activities at stand number 2625 at the forthcoming Offshore Technology Conference (OTC) 2012, which runs from April 30 to May 3 in Houston. As a supplier of custom-built vessels and equipment for the offshore market, IHC Merwede is renowned for focusing on the development of integrated solutions, as highlighted by its position as “the technology innovator
IHC Merwede is pleased to announce that it has recently secured orders for advanced vessels and equipment in its core markets of dredging and offshore to the value of €200million. The latest agreements confirmed by IHC Merwede include: a new pipelaying vessel for Subsea 7; a trailing suction hopper dredger for Weeks Marine Inc. (USA); an environmentally friendly deepwater dredger for Zheijang Dredging (China); and a 5
IHC Merwede officially opened its new Singapore office at the PSA Building today. The Singapore base will be the corporate headquarters for IHC Offshore & Marine’s Southeast Asia businesses, as it further expands its footprint in the region. IHC Merwede already has an IHC Parts & Services office in Jurong, which manages its life-cycle support operations. The new venture will focus on promoting IHC Merwede’s offshore and marine vessels and technology solutions
IHC Merwede has secured orders worth €350 million for a wide range of dredging and offshore vessels and equipment. The company’s Dredging division has confirmed new contracts for the delivery of a large custom-built trailing suction hopper dredger, 13 units that will be supplied by IHC Beaver Dredgers and a cutter suction dredger training simulator. The Offshore division has also announced orders for the construction of a 300-metric-ton pipelaying vessel
Royal IHC has announced an extension to its innovative range of vessels with the introduction of the IHC Workhorse. This new design for a hybrid anchor handling tug supply (AHTS) vessel has been developed specifically for the offshore sector
Netherlands-based Royal IHC today named and launched new pipelaying sister vessels, Sapura Jade and Sapura Ônix, in ceremonies at the company’s shipyard in Krimpen aan den IJssel, The Netherlands. Sapura Jade’s naming was performed by Belle de Bruin
Shipping Corporation of India Ltd (SCI) will buy five vessels from Cochin Shipyard Ltd (CSL) and issue tenders for buying two used liquefied petroleum gas (LPG) carriers as it looks to re-start ship purchases that were frozen after poor financial performance
Royal IHC (IHC) has integrated four of its business units – IHC Hydrohammer, IHC Handling Systems, IHC Sea Steel and IHC Fundex Equipment – into one new organization, which will operate under the name IHC IQIP. IHC said the merger aims to offer a fully integrated solution for on-
Royal IHC (IHC) has joined forces with Tompkins UK to enter the deep and ultra-deep water, oil and gas geotechnical survey and site investigation market under the banner of TI Geosciences. TI Geosciences will initially provide cone penetration test (CPT)/gravity coring services
Royal IHC has acquired SAS Offshore, which is based in Alphen aan den Rijn, The Netherlands. SAS Offshore is specialised in designing and manufacturing high quality deck equipment for the offshore oil and gas market. This acquisition enables IHC to further secure its position as a supplier
Royal IHC has acquired a majority stake in Brazilian-based Brastec Technologies, a designer and builder of tailor-made production lines for the production of umbilicals and flexible pipes. According to IHC, the agreement fulfils two important elements of its business strategy: a foothold
Royal IHC (IHC) has launched the first Easydredge 2700, the first vessel in its range of standard trailing suction hopper dredgers (TSHD) to be delivered in summer 2015. The launch took place at the shipyard of IHC's partner, MTG Dolphin, in Varna, Bulgaria.
Starting in December 2014, IHC Sealing Solutions will operate under the new – but also old and trusted – name of Lagersmit. The new pay-off line ‘The Origin of Sealing Solutions’ pays tribute to the company’s rich history and its desire to supply the best sealing
Royal IHC (IHC) has today successfully launched Subsea 7's 550t pipelaying vessel, Seven Rio, at its shipyard in Krimpen aan den IJssel, The Netherlands. The naming ceremony was performed by Mrs Anelise Lara, Petrobras Executive Manager for the Libra Project.
Royal IHC (IHC) has secured a new contract with the Chinese shipyard, Jin Hai Heavy Industrial Group, for the delivery of a dredging installation package for a trailing suction hopper dredger. The package contains major parts of the dredging installation for the 7
Royal IHC (IHC) is constructing the first vessel in its range of competitively priced standard trailing suction hopper dredgers (TSHD). It has started to build the Easydredge 2700 for stock in response to the increasing global demand for TSHDs with an extremely short delivery time.
IHC Sealing Solutions has received an important third-party verification from DNV GL, a ship and offshore classification society. This means that the company’s Supreme Ventus and Supreme Athmos seals (that guarantee zero oil emissions) are now compatible with mineral oils that are used
Historic Dutch specialist shipyard IHC Merwede says it has been awarded the honorary title of Koninklijk (Royal) by the His Majesty the King. In light of this honour, the company has decided to change its name to Royal IHC and will also include the royal crown in its revised corporate identity
Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar).