Keppel agrees to sell Rotterdam yard to Damen

Keppel agrees to sell Rotterdam yard to Damen

Singapore’s Keppel Offshore & Marine has entered into a term sheet agreement with Damen Shipyards Group for the sale of Keppel Verolme.

Keppel Verolme is based in Rotterdam and its main services are dry docking, repair and maintenance, modifications, conversions and construction. Damen will continue activities at the yard with the existing employees, which number around 250.

Keppel said the sale of the yard is part of its efforts to optimise operations and rationalise its global network of yards.

Both parties are working towards a finalised agreement and have targeted closing the deal before the end of June. A price for the transaction was not revealed.

After the sale is finalised, Keppel said it will service the European offshore oil and gas market through its network of yards in Singapore and globally.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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