Keppel Acquires Interest in Verolme Botlek for $17.9 Million

Wednesday, August 07, 2002
Through its offshore rig-building division Keppel FELS Ltd., Keppel Corp. signed a preliminary contract with Verolme Botlek b.v. to attain an 85 percent interest in the Dutch offshore repair and conversion shipyard for $17.9 million. The remaining interest will be held by the management (10 percent), and workers' foundation (five percent). The acquisition of the shipyard, which is expected to be completed in the next few months (subject to due diligence and definitive agreements), is in synch with Keppel's near-market, near-customer strategy for a stronger foothold in the North Sea and European offshore and marine markets. Mainly, the North Sea holds Europe's largest oil and natural gas reserves and is one of the world's key non-OPEC producing regions — reaching 5.9 million bpd in 2001. Established in 1954, Netherlands-based Verolme Botlek provides integrated services and activities in offshore repair, conversion and modification work. Reporting a revenue of $13 million and profit before tax of approximately $5.9 million in 2001, the yard encompasses a total of 54 hectares. Equipped with three drydocks up to 500,000 dwt and advanced workshop and craneage facilities, the yard's location in the Port of Rotterdam offers convenient access to both the North Sea and most of the industrial hinterland of Western and Central Europe. Adding to its list of growing contracts, Verolme Botlek was awarded an order for the conversion of the world's largest stone dumping vessel. The contract, which was granted by Gorinchem-based Van Oord ACZ, involves the conversion of bulk carrier Kvitnes into the world's largest flexible fall pipe vessel. With work beginning this November, at one of the yard's graving docks, the main tasks, include: installation of an advanced dynamic positioning system (DP) system; installation of two retractable azimuth thrusters and two additional bow thrusters; alteration of the existing propulsion system;and expansion of safety equipment. The conversion itself involves the 545 x 80-ft. (166.3 x 24.5-m) bulk carrier Kvitnes to be drydocked on a 9-ft. (3-m) dock block arrangement in dock 6, one of the yard's three graving docks — requiring 800 tons of steel. Following the conversion, Kvitnes will be re-christened Rocknes by Van Oord as the fourth fall pipe vessel to be operated by the company.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Subchapter M: The Designated Person Ashore and You

As the workboat industry marches toward Subchapter M, and ever closer to the International Safety Management (ISM) Code, the appointment of a Designated Person Ashore (DPA) becomes more important,

N.Korean Navy Incursion Draws Warning Shots

A North Korean patrol boat crossed into South Korean waters early on Monday and retreated after the South Korean navy fired warning shots, a South Korean military official said.

Ship Repair & Conversion

Novoship to Install Ecochlor BWTS on 4 Tankers

SCF Novoship Technical Management has selected the Ecochlor Ballast Water Treatment System (BWTS) to be retrofitted on three Aframax Oil Tankers and one Product Carrier.

Seaspan Venture: Like for Like

“We don’t usually remove the heads at mid-life on the Cummins engines,” Randy Beckler, Shore Engineer for Seaspan Marine, explained in reference to the 2003 launched

Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0701 sec (14 req/sec)