Keppel Offshore agreed to sell Verolme shipyard in Rotterdam to Damen

Keppel OffshoreThe Singapore’s Keppel Offshore & Marine entered into agreement with Damen Shipyards Group for the sale of Keppel Verolme in Rotterdam. Finance details of the transaction were not revealed, but both parties are working towards finalized agreement and have targeted closing the deal before the end of June. The decision for the sale of Verolme shipyard in Rotterdam comes amid the efforts of Keppel Offshore to optimize its operations and rationalize its global network. The company see opportunities in the offshore oil and gas market in Europe and the North Sea, but will service its customers though the shipyard in Singapore.

Keppel Verolme shipyard is based in Rotterdam and its main services are dry docking, repair and maintenance, as well as conversions and construction. Damen will continue the activities at the shipyard with the existing 250 employees, without planning layoffs.

The completion of the transaction will be subject to closing conditions and the receipt of relevant approvals.

Keppel Offshore & Marine is the global leader in offshore rig design, construction and repair, ship repair and conversion, and specialized shipbuilding.