German Shipyard Sietas Sale Deal in the Balance

Press Release
Thursday, December 13, 2012

Cash-strapped  JJ Sietas Group is building a Van Oord liftboat but as a second order is uncomfirmed the yard's future is in doubt.

In June 2012 the creditors’ committee voted in favour of an offer by the VeKa Group of the Netherlands to take over the Sietas shipyard. Despite six months of intensive negotiations, it has not proved possible to complete the deal. 

The reason being that the Sietas shipyard currently has only one order for a new construction, a jack-up vessel for offshore wind farms for the Dutch marine engineering company Van Oord. The prospect of a second new construction order of an identical type and the resulting continuing employment of the shipyard was stipulated by VeKa as a condition for the takeover.

However, two weeks ago Van Oord was forced to halt the decision-making process for the construction of the second jack-up vessel, which was due to a delayed investment decision for the EnBW Hohe See offshore wind farm.

As a result of the still on-going political discussion concerning the amendment to Germany’s Energy Industry Act (EnWG) and the associated uncertainties regarding binding dates for the grid connection of offshore wind farms, EnBW has postponed its investment decision for the planned North Sea wind farm. Van Oord’s firm intention had been to order a second jack-up vessel from Sietas and to use it in the construction of the wind farm, and consequently, Van Oord has now disbanded its entire Hohe See project team.

After attending a recent works meeting at the Sietas shipyard, Hamburg’s Senator for Economy Frank Horch said: “After being able to save a lot of the jobs in former subsidiaries Neuenfelder Maschinenfabrik (NMF) and the Norderwerft shipyard, I’m still hopeful that Hamburg will be able to keep the long-established Sietas shipyard.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Lilaas Engages Imtra for N. American Distribution

Strong prospects in the North American marine equipment market have triggered a new importation and distribution agreement between control specialist Lilaas

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Finance

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Colombia's Ecopetrol Sees Recovery in 2015

Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1112 sec (9 req/sec)