Keppel Acquires Interest in Verolme Botlek for $17.9 Million
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, Netherlandsbased 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.
Circle 187 on Reader Service Card www.maritimereporterinfo.com
Other stories from August 2002 issue
- QM2 Celebrates Keel Laying At French Shipyard page: 6
- San Fernando Shipyard Gets A RoPax Ferry Order page: 6
- Austal Delivers Lilia Concepcion To Venezuela page: 8
- Navy Christens New Guided Missile Destroyer page: 9
- Northrop Grumman Delivers USNS Brittin page: 9
- New & Notable Empress of the North Scheduled For 2003 page: 10
- Austal USA Sells Second Vessel Into N.Y. Market page: 11
- Guangzhou Panyu Lingshan Shipyard Prepare for Deliveries page: 13
- VDR and AIS Regulations Go Into Effect page: 14
- Maritime Security and the Hazards of Unilateralism page: 15
- Keppel Acquires Interest in Verolme Botlek for $17.9 Million page: 16
- After Half A Century, Hamilton Jet Keeps On Pushing page: 18
- Rodriquez To Construct High Speed Monohull page: 19
- RINA Backs Emission Cruise Ship Project page: 19
- Vosper Thornycroft Takes A "Bite" Out of Technology page: 20
- Cutting Edge Know-How to Cut Smoke page: 21
- South China Yard Holds Court In Pearl River Delta page: 22
- MarAd's Schubert: Building a Better U.S. Business page: 24
- Opportunities Plentiful page: 27
- Derecktor Cuts First Plate of AMHS Ferry page: 29
- Gulf Craft Delivers World's Largest Crew/Supply Vessel page: 31
- Raising the Kursk page: 32
- Spiegel Grove: Saved to be Sunken page: 34
- Titan Re-Floats Clipper Cheyenne page: 38
- Using a Simulator With Eyes Wide Open page: 39
- ChartCo Is Successful During Sea Trials page: 41
- Ultra Large Containerships: Will Security Measures Impede Operations? page: 43
- Premiere Maritime Security Exhibition to be Held in NYC page: 47
- Get Ready for the New OPA 90 page: 48
- M/V Tanner Christened In Texas page: 49
- Rolls-Royce Helps Power Combat Boat Success page: 50
- SMI: Helping to Spread British Marine Technology Worldwide page: 51
- McNeece Unveils Unique Hull Concept page: 52
- Ultrajets Chosen by FBM Babcock for Military Project page: 54
- New Cutter for Port of London Features Cat Power page: 55