Shipbuilder IHC takeover completed – former State Secretary to supervise
Former Dutch State Secretary of Finance Menno Snel will become a member of the Supervisory Board of the recently rescued shipbuilding company IHC. On behalf of the Dutch State, he will supervise the course of...Read more
Seaway Heavy Lifting not impacted by cost reductions at Subsea 7
Last week, Subsea 7 announced it would cut 3000 of the 12000 jobs it provides worldwide. According to a spokeswoman, its Dutch/German subsidiary Seaway Heavy Lifting will not be affected by these cost-cutting measures. ‘Faced with...Read more
Spliethoff books better results, but BigLift remains in the red
The Spliethoff Group saw both its revenue and operating result improve in 2018, but delayed investments in the oil and gas and mining industry kept subsidiary BigLift in the red. The company’s shortsea operator Wijnne...Read more
Banks lose over 200 million euros in rescue operation of shipbuilder IHC
During the rescue of shipbuilder Royal IHC in April, banks saw over 200 million euros evaporate. Rabobank in particular had to write down substantial amounts on loans. Moreover, the bank, which is also a co-shareholder...Read more
Coronavirus likely to spur decommissioning frenzy
With few profitable investment opportunities left as a result of the coronavirus, oil companies will likely increase their spending on decommissioning contracts. Global projects through 2024 could reach a value of 42 billion dollars, say...Read more
Subsea 7 to lay off quarter of its workforce
The slump in the oil and gas market is taking its toll on Subsea 7. The offshore service provider plans to reduce its workforce of 12,000 by approximately 3000 by the end of the second...Read more
‘Substantial segments of German fleet endangered in existence’
The German shipowners association VDR warns the pandemic has an even bigger impact on the country’s shipping industry than the financial crisis. ‘Substantial segments of the German merchant fleet are foreseeably endangered in their existence,’...Read more
River cruising: From corny to booming, but under corona threat?
In a relatively short amount of time, the river cruise industry has become an important money maker for Europe. In his latest opinion piece, SWZ|Maritime’s Editor-in-Chief Antoon Oosting draws a picture of this market segment...Read more
Maersk expects volumes to drop by up to 25 per cent in Q2
Container carrier company Maersk expects volumes may fall by up to 25 per cent in the second quarter of this year due to the corona crisis. CEO Søren Skou says the year will be challenging,...Read more
German naval shipbuilders Lürssen and Naval Yards intend to join forces
Lürssen intends to establish a long-term cooperation in naval shipbuilding with German Naval Yards Kiel. The existing military and naval surface shipbuilding activities are to be contributed into a joint company and led by Bremen-based...Read more
Marine contractor Boskalis seems a little immune to corona
For the time being, Boskalis seems to be escaping the corona crisis. The contractor reports in a trading update that the first quarter has been better than expected financially, without mentioning any concrete results. However, the...Read more
Towage company Kotug completes acquisition of Marsol
Kotug International has acquired full ownership of Marsol International Ltd. The addition of the offshore and marine terminal service centre is meant to strengthen Kotug’s position in the maritime services industry in the Middle East. ‘Although...Read more
Damen combines yacht brands in new Yachting division
Damen will market its yacht portfolio consisting of Amels, SeaXplorer and Yacht Support under a new identity: Damen Yachting. The division is headed up by Rose Damen and retains all of the yacht ranges associated...Read more
Damen Shipyards positive despite disappointing 2019 and Covid-19
Damen Shipyards Group went deep into the red in 2019 with measures taken to change this. Whether this will become visible in 2020 depends on how the corona crisis will develop, but CEO Arnout Damen...Read moreDutch Government and companies rescue shipbuilder Royal IHC
The Dutch Government will contribute 400 million euros to saving Royal IHC. A consortium of HAL Investments, Ackermans & van Haaren, MerweOord and Huisman are said to make a similar effort. Goal of the rescue...Read more
Martin Stopford: Key role for short sea shipping in regional economy
‘Globalisation has run its course,’ says Dr Martin Stopford, Non-Executive President at Clarkson Research Services. ‘The regional economy is big enough to be self-sufficient and short sea shipping can support this.’ In a webinar hosted by...Read more
MPs urge Minister to buy naval vessels in the Netherlands
‘Expenditure on defence equipment could be part of the solution to the current corona crisis,’ says André Bosman of Dutch political party VVD. ‘A number of planned projects could very well – and maybe should...Read more
Meyer Werft: No orders for new cruise ships expected until 2023/24
With COVID-19, modern cruising faces the biggest crisis in its history, which will also heavily impact the cruise ship builders. According to Meyer Werft Managing Director Thomas Weigend, difficult measures need to be taken to...Read more