• 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 October 23

18:36 GTMaritime protects onboard cyber security in record numbers
18:02 Tokyo MOU accepted Panama as the 21st member authority
17:35 Rosmorrechflot suggests providing subsidies and privileges to ship owners using LNG
17:02 Teekay and Teekay LNG announce resolution to China LNG joint venture issues
16:52 Damen signs contract with Karachi Shipyard & Engineering Works for third ASD Tug 2009
16:43 Side event on Women in Fisheries held at Torremolinos Ministerial Conference
16:21 Average wholesale prices for М-100 HFO down to RUB 11,770 in RF spot market
16:02 Carnival Corporation, Royal Caribbean and Government of St. Lucia sign MoU
15:37 Yxney Maritime and Grieg Connect team up with the NOx Fund to build digital emissions infrastructure
15:02 Qatar Petroleum announces commencement of supply of Very Low Sulphur Fuel Oil at Ras Laffan Industrial City Port
14:56 Ships of RF Navy’s Caspian Flotilla participated in strategic command post exercise
14:14 Port of Zeebrugge posts results for Q3 2019
13:13 Abu Dhabi Ports breaks ground on new waterfront destination
12:40 Association of Legal Entities of “Trans-Caspian International Transport Route” project held General Meeting in Tbilisi
12:12 Aker Solutions targets growth in low carbon and renewable energy
11:48 Yaroslavsky Shipbuilding Plant delivered survey ship of Project 3330 built for Volga Basin
11:26 Technological infrastructure of Vostochny Port's Phase 3 highly appraised by Indian delegation
11:04 Mitsui E&S Shipbuilding deliveres a 66,000 dwt type bulk carrier to Tomaros Navigation, Liberia
10:32 ASCO held meeting with representatives of Australian and Chinese companies
10:09 The world’s largest offshore wind farm welcomes Jan De Nul’s Voltaire to the project
09:50 Russian Maritime Register of Shipping introduced a new edition of the Container Rules set
09:31 Baltic Dry Index is down to 1,806 points
09:15 Brent Crude futures price is down 0.49% to $59.41, Light Sweet Crude – down 0.83% to $54.03
09:08 CMA CGM implements Winter Surcharge on imports into St Petersburg, Ust-Luga & Bronka (Russia)
08:53 MABUX: Bunker market this morning, Oct 23
08:42 Europort 2019 launch led by shipowner summit

2019 October 22

18:09 Alfa Laval Aalborg boiler technology offers an easier path to LNG propulsion
17:53 NOVATEK issues update on Arc7 LNG tankers
17:30 Yxney Maritime and Grieg Connect team up with the NOx Fund to build digital emissions infrastructure
17:02 Total and Zhejiang Energy Group join forces to develop the growing low sulfur marine fuel market
16:48 North-Western Shipping Company carried 3.7 million tonnes of cargo in 9M’2019
16:25 Wärtsilä retrofit to reduce environmental impact of ferry operating in ecologically sensitive waters
16:02 McDermott International enters into agreement for up to $1.7 bln of new financing
15:41 Latest Damen FCS 3307 Patrol vessels for Homeland Integrated Offshore Services Limited arrive in Nigeria
15:27 Victor Chernomyrdin icebreaker successfully completed sea trials
15:02 Deltamarin signs design contracts with Merima
14:44 Pella shipyard started mooring trials for lead crab catching vessel of Project 03070
14:10 CMA CGM announces FAK rates from Asia to the Middle East Gulf
13:49 Patrol ship of RF Navy’s Black Sea Fleet left Greek port of Pylos
13:02 A.P. Møller - Mærsk A/S upgrades EBITDA expectation for 2019
12:50 Marine Recruiting Agency trained 1,344 specialists for port and construction segments in 9M’19, up 14% YoY
12:28 DP World reports 1.1% gross like-for-like volume growth in 3Q 2019
12:26 ESPO congratulates port of Barcelona, Vigo and Baku for getting EcoPorts’ environmental management standard
12:01 Cook Islands, Sao Tome and Principe accede to Cape Town Agreement, 46 declare support
11:45 MPSV12 project vessel "Bahtemir" took part in emergency response exercises in the Gulf of Finland
11:22 3rd “LNG Fleet and LNG Bunkering in Russia” conference kicks off in Moscow
11:13 Bio-based welding-gas production facility to open in the port of Amsterdam
10:44 CMA CGM announces PSS for cargo from Europe and the Mediterranean to Australia and New Zealand
10:20 BLRT Grupp’s Noblessner Homeport project wins in “Best Development Project of 2019” nomination
09:56 Poland's first training centre for port staff opened at the Port of Gdansk
09:33 Brent Crude futures price is down 0.22% to $58.83, Light Sweet Crude – fell by 0.26% to $53.37
09:18 Baltic Dry Index is down to 1,846 points
08:31 MABUX: Bunker Market this morning, Oct 22

2019 October 21

18:25 Navios Acquisition announces $15 mln offering of common stock
18:02 Temasek subsidiary plans to acquire 30.55% of shares in Keppel
17:50 Two LNG-powered Sovcomflot tankers successfully completed voyages along Northern Sea Route
17:36 Anglo-Eastern signs Cyber MOU with Naval Dome
17:13 Guard ship "Yaroslav Mudry" of RF Navy’s Baltic Fleet made business call in Limassol
17:05 Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live
17:02 Castor Maritime announces vessel acquisition