Damen feels the commodities price pinch

22 Feb 2017

Damen Shiprepair Rotterdam is one of the affected concerns

Damen Shiprepair Rotterdam is one of the affected concerns

Damen Shiprepair & Conversion has announced a reorganisation at three Dutch yards within its group. Staff members of Damen Shiprepair Rotterdam, Damen Shiprepair Van Brink and Damen Shiprepair Vlissingen were informed that the overall number of staff will be reduced by approximately 150 employees.

DSC has been forced to take these measures due to continued
adverse market conditions. Large-scale market fluctuations are common for the
ship repair sector – within which the Damen Shipyards Group has been active for
over 40 years. The strategy of DSC focusses on diversification as well as
developing new product/market combinations. However, according to the company,
the oil and gas market has decreased in such a way that has left DSC unable to
fill the void with other activities.

In a company statement Damen has stated that ‘the market
expectations for the short and medium term are not positive. There is no
recovery in sight for commodity prices in general and oil and gas prices in
particular and the resulting reduction in ship repair projects forces DSC to
review its situation. Unfortunately, one of the consequences of this, is
downsizing the number of permanent staff in all layers of the organisation, as
well as reducing facility costs.’

By Jake Frith

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