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 Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Truckers to Strike Four SoCal Shippers

Truckers who haul freight from the ports of Los Angeles and Long Beach will go on strike against four ground-shipment companies on Monday, a Teamsters union official said,

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

PSA Commissions new Dammam Terminal

Saudi Global Ports LLC (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA)

Ship Repair & Conversion

BV Upgrades RAM Software

To help offshore operators and contractors get more out of their assets and develop projects more cost-effectively, Bureau Veritas has supercharged its reliability,

Hospital Ship Up to Speed with AMOS

SpecTec will work with Mercy Ships to migrate its current system Business Suite to AMOS Enterprise Management Suite (EMS). Mercy Ships’ Africa Mercy, the world’s largest hospital ship,

Ecochlor BWTS

Ballast water treatment technology developer Ecochlor Inc. presented a project case study at CMA Shipping 2015, a case study which covered the retrofit of Ecochlor’s

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar 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: 0.1244 sec (8 req/sec)