Govert Van Oord News

Van Oord concluded 2023 with revenue reaching record high and profits more than doubled.The company saw revenue growth across both its Dredging & Infra and Offshore Energy business units, which resulted in a significantly revenue increase of 42% to EUR 2.9 billion from EUR 2.0 billion in 2022.Net profit doubled to EUR 127 million from EUR 60 million in 2022. High fleet utilisation and the continued sharp focus on risk and contract management contributed to the improved results.The order book increased by 3% to EUR 4…

The Supervisory Board of Van Oord intends to nominate Govert van Oord as the new CEO of Van Oord. The formal appointment will take place at Van Oord's Annual General Meeting of Shareholders on April 11, 2024.The Board is pleased to be able to transfer the leadership of the family business from the 4th to the 5th generation Van Oord family.Govert van Oord has been with Van Oord since 2002 and has worked for the company in the Middle East, Spain and Brazil, among others. He is currently responsible for the Dredging & Infra Business Unit as Managing Director.

A major modernization contract for the deepening and widening of a 62 km section of the Świnoujście – Szczecin fairway in Poland has been awarded to Van Oord and DEME Group subsidiary Dredging International.The investment by the Maritime Office in Szczecin will improve access to the Szczecin seaport and increase the port capacity to handle a growing volume of cargo.The project is a design and build contract to deepen and widen the fairway along a section of approximately 62 km from -10.5 to -12.5 m. The dredged materials will be used to build two artificial islands in the Szczecin lagoon.

With a two-day event on the quay of the Biesboschhaven Zuid harbour in Werkendam, Van Oord will launch its first LNG-powered vessel: the Werkendam. Because of Van Oord’s 150th anniversary, this event is taking place in Werkendam, the cradle of the company. On Friday 13 April, school children from the surrounding area are being given a guided tour of the new crane vessel. Business relations are also being welcomed on board during a special network meeting. On Saturday 14 April, the naming ceremony will be held. In the presence of guests and staff, the vessel will be named by Pia van Oord. The Werkendam crane vessel is an exceptional part of the Van Oord fleet. It is the first LNG-powered vessel and is therefore the start of a new generation of dredging vessels.

Van Oord reported slight drop in its revenues for 2017 having realized of EUR 1.53 billion (2016: EUR 1.71 billion) and a net result of EUR 78 million (2016: EUR 90 million). In particular, the turnover of the group's dredging activities was low from a historical perspective (EUR 923 million, 2016: EUR 1.18 billion). The offshore wind sales amounted to EUR 403 million and remained virtually the same as last year's level (EUR 394 million). Despite the poor market, sales in offshore oil and gas increased to EUR 204 million (2016: EUR 130 million), thanks to a number of large projects in our niche markets. The net result amounted to EUR 78 million (EUR 90 million in 2016). The decrease was mainly related to a lower level of activity in the company.

A naming ceremony was held at Damen Dredging Equipment in Nijkerk on November 16 for the second of Van Oord’s Damen Cutter Suction Dredgers (CSD) 650, the Mangystau, due to be delivered in the first week of January. The ceremony was attended by members of the Van Oord and Damen families. Damen received the first order for a CSD650 from dredging and marine contractor Van Oord at the end of 2014; the Ural River. With delivery scheduled six weeks from ordering, the on-stock availability of the vessel was a critical factor to support Van Oord’s dredging projects in the Caspian Sea.