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
Jaya Holdings Limited (“Jaya”) has announced that its wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd has signed an agreement with IHC Merwede Asia Pacific which enables IHC’s high-specification offshore vessels to be produced by Jaya at its yards in Singapore and Batam, Indonesia. As part of the wide-ranging agreement, IHC Merwede will also provide design and engineering support services to Jaya.
IHC Merwede has been contracted by Royal Boskalis Westminster (Boskalis) for the design, construction and delivery of a 23,684kW self-propelled cutter suction dredger (CSD) which will be one of the largest CSDs of its kind in the world. The shipbuilders say that as part of the close cooperation
Royal Boskalis Westminster N.V. (Boskalis) has ordered a new self-propelled megacutter from IHC Merwede. This self-propelled cutter suction dredger, with a total installed power of 23,700 kW and a pump ashore capacity of 15,600 kW, is a replacement investment
IHC Merwede’s CEO, Dirk Philips, will step back from his role within the company. Over the past two months, he has led the management board to formulate some important aspects of IHC Merwede’s future business strategy, as well as the appropriate organization required to implement it
IHC Sealing Solutions, part of IHC Merwede, will launch the zero-pollution SUPREME Athmos seal at the Europort exhibition in Rotterdam, November 5-8. According to the manufacturer, the SUPREME Athmos seal enables ships – with limited draught up to approximately five meters – to
IHC Vremac Cylinders, part of IHC Merwede, officially introduced the MaXine 50 heave compensator to its Dutch, Belgian and German offshore partners on October 8. The group of lifting specialists responded enthusiastically to the dynamic launch and demonstration of the innovative new product.
IHC Merwede named and launched the pipelaying vessel Sapura Diamante in a ceremony at the company’s shipyard in Krimpen aan den IJssel, The Netherlands. The naming of the innovative offshore vessel was carried out by Christina Lucia Duarte Pinho
Wärtsilä received a significant order to supply the propulsion solutions for six new offshore pipe laying vessels being built by IHC Merwede. Three of the ships are to be built for Subsea 7, the seabed-to-surface engineering, construction
IHC Merwede name and launch the 5,500m³ trailing suction hopper dredger, DCI DREDGE XXI, for the Dredging Corporation of India Ltd (DCI) at the shipyard in Kinderdijk, The Netherlands. The ceremony was performed by Mrs R Mohanty
IHC Merwede’s Offshore division secured orders worth over €1 billion for the design, engineering and construction of a total of six pipelaying vessels. The agreements for these six ships have been signed with Subsea 7 and Seabras Sapura, the partnership between SapuraKencana and Seadrill
IHC Merwede has announced that it has signed two new contracts for the EPC (engineering, procurement and construction) delivery of offloading system packages for five FPSO vessels (floating production storage and offloading). The first of these packages will be placed on to one of
IHC Merwede and T-Rubber announced that they have strengthened their ongoing business relationship with an extension to the Purchasing Cooperation Agreement between the two companies. The signing of this agreement for the supply of rubber hoses was arranged to coincide with the visit of a
The European Ships and Maritime Equipment Association (SEA Europe) has announced that IHC Merwede’s President, Govert Hamers, will succeed Lars Gørvell-Dahll as Chairman in October 2013. Mr. Gørvell-Dahll’s will step down midway through his tenure to become the
Seadrill & SapuraKencana Petroleum Berhad joint entity Sapura Navegação Marítima S.A., Brazil (SNM) awarded US$2.7-billion Petrobas contract to charter & operated 3 newbuild Pipe Laying Support Vessels (PLSV's).
IHC Merwede announced that it has recently secured orders to the value of €125 million for a wide range of new cutter suction dredgers (CSDs) and related equipment. The latest sales agreements confirmed by the company include a new custom-built CSD and a further 12 units that will be supplied
The Oil & Natural Gas Corporation (ONGC) Board is expected to take up a proposal to place orders with the Netherland's IHC Offshore & Marine BV for a well stimulation vessel for about $244 million against the company's budget estimate of $150 million.