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Rising green vessel sales boost Damen revenues
Damen Shipyards Group’s revenue reached €2.5Bn (US$2.7Bn) for the first time in 2022, driven by a strong orderbook and the rising value of its ships
With a record orderbook of €8.85Bn (US$9.6Bn) at the end of 2022, the Gorinchem, Netherlands-headquartered shipbuilder can focus on sustainability and reducing its environmental footprint.
Damen’s net profits rose from €1M in 2021 to €15M (US$16.4M) in 2022, despite vessel construction and ship repair being impacted by the ongoing war in Ukraine.
“Overall, we are happy with 2022,” said Damen chief executive Arnout Damen. “Obviously, this does not apply to the situation in Ukraine, where we have had to close our locations in Cherson and Mykolayiv,” he said. “We are still deeply affected by the situation of our colleagues there and we are supporting them whenever possible.”
War in Ukraine and the resulting economic sanctions against Russia contributed to the number of Damen completed vessels falling to 104 in 2022. But some deliveries involved higher-value vessels with environmental innovations, growing revenues and profits for the builder.
“We are seeing how our focus on making our vessels more sustainable is gaining traction and appreciation,” said Mr Damen.
“Last year, we delivered the world’s first full-electric harbour tug Sparky to the Port of Auckland in New Zealand. This RSD-E 2513 tug was voted Tug of the Year at the International Tug & Salvage Awards 2022.
“Our revolutionary fast crew supplier 7011 Aqua Helix was named Offshore Energy Vessel of the Year for 2022 by Offshore Support Journal.”
Both were awarded during Riviera Maritime Media’s industry leading conferences, exhibitions and events in 2022.
Other completed vessels in 2022 include the first 11 vessels under a major order for LNG-powered inland vessels by Concordia Damen and a patrol vessel built by Damen Shipyards in Cape Town for the South African Navy.
Progress was made on large orders such as four F126 frigates for the German navy and the combat support ship Den Helder for the Royal Netherlands Navy. The volume of repair and conversion orders rose slightly to 1,127.
“Our mission is still to become the most sustainable shipbuilder in the world,” said Mr Damen. “We are working actively on major innovation projects, for example in the field of methanol as a fuel, battery capacity and alternative energy storage systems on board.”
Damen is expanding its shipyard in Gorinchem, has opened its 11th service hub in Panama City and has introduced a new range of cutter suction dredgers.
Offshore renewables’ support vessels have been ordered at five divisions of Damen, including two vessels from the new generation of service operation vessels developed by Damen for this sector, which are partly powered by hydrogen.
“We are looking to the future with considerable confidence,” said Mr Damen. “Demand remains strong in virtually every market we operate. We expect the rising trend in terms of financial results that we began in 2020 to continue in 2023.”
Riviera Maritime Media’s TUGTECHNOLOGY returns 21-23 May 2023 in Rotterdam, the Netherlands. Use this link for further information and to register your interest
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