Verolme Botlek News

After a facelift of $ 200 million at the Verolme Botlek shipyard at Rotterdam, Monday evening December 17th Balder headed for the Norwagian offshore port Stavanger. The facelift changed the former crane vessel into a pipelayer. Thanks to the gigantic pipelaying tower of 120 metres, the Balder is able to lay pipes on a depth of more than 2.000 metres. Its first assignment is situated in the Gulf of Mexico.

Keppel Fels Energy & Infrastructure Ltd, seeking a foothold in the European offshore market, said on Monday it was in talks to take over Dutch repair and conversion yard Verolme Botlek. The Singapore company gave no indication of the likely cost of acquiring the Rotterdam yard, which has three dry docks and is owned by Wilton Fejinoord Holdings. "This possible acquisition will provide Keppel Fels with an opportunity to expand our network in Europe and to service our customers in the North Sea," a spokeswoman said. She said the planned purchase of the yard was in line with the firm's strategy, outlined at the beginning the year, to move physically closer to its customers.

Keppel Fels Energy & Infrastructure Ltd. said it has aborted its planned purchase of Dutch repair and conversion yard Verolme Botlek. Keppel Fels, the offshore rig-building division of Keppel Corp., said in a statement to the Singapore Exchange that it had ceased negotiations with Wilton Fejinoord Holdings after the "expiry of the letter of intent." Keppel Fels, which was seeking a foothold in the European offshore market, said in November it was in talks with Wilton to acquire the Rotterdam yard, which has three dry docks. - (Reuters)

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.

Keppel Corporation Limited, through its offshore and marine division, Keppel Offshore & Marine Ltd (Keppel O&M), has completed the acquisition of the entire interest in Dutch offshore repair and conversion shipyard, Verolme Botlek, for a total consideration of $22 million. The purchase price was based on a willing buyer-willing seller basis and does not include the land and drydocks which are leased from the Rotterdam Port Authority. This follows Keppel Corporation’s announcement on July 17 that its offshore arm was going to acquire an 85 percent interest in Verolme Botlek. The increase in stake to 100 percent resulted after due diligence and final negotiations.

Interest in the European cruise ship repair market is currently focused on which shipyard will win the $31.3 million contract to repair the 1968-built, 70,327-grt cruiseship Queen Elizabeth II, owned by Cunard Line. There are currently three shipyards shortlisted for the work — Bremerhaven’s Lloyd Werft, Hamburg’s Blohm + Voss Repair and the U.K.’s A&P Southampton. The contract is expected to be awarded soon, with the drydocking dates scheduled for between November 12 and December 11. Now part of the Carnival Cruise Lines (CCL) group, Cunard has also announced the drydocking programs for two other cruiseships in its fleet — the 1973-built…