• 2019 June 20 16:35

    Damen Oskarshamnsvarvet Sweden achieves coveted AAA credit rating

    Seven years after the facility was acquired by Damen, the group’s Swedish shipyard, Damen Oskarshamnsvarvet (DSO) has had its credit rating, as awarded by European credit rating agency Bisnode, upgraded from B to AAA, the company said in its release.  With only 2.3% of companies in Sweden achieving the highest possible rating of AAA, this demonstrates that the shipyard is in excellent financial and commercial health.

    After a  few difficult years in challenging market conditions, the impact of these changes became noticeable in the second half of 2017 when the yard returned to profitability. This move into the black was accelerated by winning two key contracts; one to manufacture high-precision special steel tanks together with their integrated cassettes for OKG; the operator of three nuclear reactors on Sweden’s Simpevarp peninsula. The other, to refit and repair the Castella, a 77-metre Ro-Ro ferry operated by Trafikverket, the Swedish Transport Administration. Together these long-term projects ensured consistent activity alongside the less predictable nature of regular repair and maintenance work.

    The increase in business carried on into 2018 with the ongoing ideal combination of long-term contract works and regular repair and maintenance jobs delivering DSO’s best financial results in the past 20 years. The first half of 2019 sees that trend continuing with an exceptionally busy period.

    The award of the AAA rating following in-depth analysis of DSO’s business model and financial outlook by Bisnode delivers a resounding vote of confidence in the yard’s current strength and future outlook. It gives suppliers, contractors and customers the reassurance they seek that they are doing business with a solid, reliable and creditworthy company. In addition, in combination with DSO’s membership of the Damen family it allows the yard to continue pursuing its current growth strategy by providing evidence of its ability to handle larger, more complex projects.

    Damen Shipyards Group
    Damen Shipyards Group operates 36 shipbuilding and repair yards, employing 12,000 people worldwide. Damen has delivered more than 6,500 vessels in more than 100 countries and delivers around 175 vessels annually to customers worldwide. Based on its unique, standardised ship-design concept Damen is able to guarantee consistent quality.

    Damen’s focus on standardisation, modular construction and keeping vessels in stock leads to short delivery times, low ‘total cost of ownership’, high resale values and reliable performance. Furthermore, Damen vessels are based on thorough R&D and proven technology.

    Damen offers a wide range of products, including tugs, workboats, naval and patrol vessels, high speed craft, cargo vessels, dredgers, vessels for the offshore industry, ferries, pontoons and superyachts.

    For nearly all vessel types Damen offers a broad range of services, including maintenance, spare parts delivery, training and the transfer of (shipbuilding) know-how. Damen also offers a variety of marine components, such as nozzles, rudders, winches, anchors, anchor chains and steel works.

    Damen Shiprepair & Conversion (DSC) has a worldwide network of eighteen repair and conversion yards of which twelve are located in North West Europe. Facilities at the yards include more than 50 floating (and covered) drydocks, including the longest, 420 x 80 metres, and the widest, 405 x 90 metres, as well as slopes, ship lifts and indoor halls. Projects range from the smallest simple repairs through Class’ maintenance to complex refits and the complete conversion of large offshore structures. DSC completes around 1,300 repair and maintenance jobs annually, both at yards as well as in ports and during voyage.





2019 July 19

11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points

2019 July 18

18:05 Future expectations for MPS Terminal 3 in the port in Tema outlined with Government delegation
17:24 PGNiG acquires interest in another gas field in the North Sea
17:18 DNV GL supports 2020 sulphur compliance with online Ship Implementation Plan
17:05 OOCL announces new Middle East / Indian Subcontinent – North Europe Service
16:35 Consortium including DEME and Jan De Nul explores pioneering high-wave offshore solar technology
16:07 Large maritime market players join hands to create high-wave offshore solar panels
15:52 State Duma makes it easier for foreign tourists to visit Russia’s Arctic
15:35 Incat Tasmania delivers new 111-metre ferry to Spain operator Naviera Armas
15:18 Hapag-Lloyd launches South-East India – Europe Express Service // IEX to start operations in October 2019
15:01 Operation ATALANTA welcomes ESPS CANARIAS
14:26 Bunker prices are slightly down at the Far East ports of Russia (graph)
14:00 Diana Shipping announces time charter contract for m/v Selina with Ausca
13:44 PortNews Media Group's anniversary celebration photo release
13:22 Aleksey Khaidukov as President of Novoship
13:00 Global Ports Holding invites proposals for Duty Free and Travel Retail operations at Malaga, Zadar, Cagliari and Catania cruise ports
12:47 East Mining Company eyes arranging offshore transshipment of coal in Kamchatka under Tata project
12:09 Wärtsilä posts financial results for January-June 2019
11:53 Construction of LNG-powered icebreakers to be financed by NOVATEK – Vyacheslav Ruksha
11:31 RF Deputy PM Maksim Akimov set a task to begin dredging in the Gulf of Ob not later than on 1 August 2019
11:09 Port of Muuga strengthened with new ferry connection to Finland
10:48 Primorsky MRC terminal to offer fully closed transshipment of loose cargo
10:30 MAN Energy Solutions gets subsea compression FEED order from Chevron
10:09 Port of Lowestoft names new state-of-the-art pilot boat
09:56 MABUX: Bunker market this morning, July 18
09:50 APM Terminals Callao launches Peru’s first digital customer platform
09:34 Brent Crude futures price is up 0.17% to $63.77, Light Sweet Crude – up 0.02% to $56.79
09:16 Baltic Dry Index is up to 2,064 points

2019 July 17

18:13 USCG responds to boat collision, assists 4 injured
17:55 LNG vessels to protect environment and increase container turnover at the Port of Riga
17:32 YAMAL LNG obtains certification for the new ISO 45001:2018 and confirms compliance with ISO 14001:2015
17:03 Qatargas delivers 3000th LNG cargo to Japan
16:48 Maslovoz-2 tanker left floating dock of Novorossiysk Ship Repair Yard
16:21 Krasnoye Sormovo delivers the Aleksandr Zuyev, dry cargo carrier of Project RSD59, to STLC
16:03 Safe Bulkers, Inc. announces installation and commissioning of the first scrubber on MV Martine
15:44 Germany accedes to ship recycling convention
15:27 South Africa accedes to compensation regime for hazardous and noxious cargoes
15:02 BHP to introduce low emissions LNG freight
14:02 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
13:32 McDermott awarded FEED contract for Sohar LNG bunkering project in Oman
13:15 Pilbara Ports Authority delivers a total annual throughput of 697.2 million tonnes for the 2018/19 financial year
12:39 Exports of Russian oil products from Kambarka oil tank farm resumed by river route via RPK-Vysotsk-LUKOIL-II
12:01 Aker Solutions announces Second-Quarter and Half-Year results 2019
11:51 New edition of Rules for Classification and Construction of Ships Carrying Liquefied Gases in Bulk published by RS
11:44 Port of Oakland’s keystone project set to be delivered in 2020
11:26 NIBULON shipyard continues forming the hull of its 140-m NIBULON MAX floating crane
11:02 The President of the European Council visits the new Port of Baku
10:40 Gasum Group reports its financial results for Q2 2019
10:30 MABUX: Bunker market this morning, July 17
10:17 AS Tallinna Sadam reports its 2019 Q2 passenger and cargo flows
09:54 Bunker prices increase at the port of Saint-Petersburg, Russia (graph)
09:35 Brent Crude futures price is up 0.25% to $64.51, Light Sweet Crude – up 0.03% to $57.64
09:19 Baltic Dry Index is up to 2,011 points