Dutch IHC Merwede Hopes to Benefit from Petrobras’ Investments

IHC Hopes to Benefit from Petrobras' Investments

Dutch company IHC Merwede, which develops and builds innovative vessels, advanced equipment and life-cycle support services for the dredging, mining and offshore industries today announced its revenue for the full year 2012 was € 895 million. The company’s net profit for the period was € 37 million.

In a press release issued today, IHC Merwede, which employs more than 3000 people all over the world, said that the revenue and profitability were lower than in 2011 due to increased competition in IHC Merwede’s markets of dredging, mining and offshore. The company said that profit is expected to be on the rise again in 2013.

Among other things, the company highlighted the pipelaying vessels ordered by SapuraKencana and Subsea 7 in early 2012, describing the deal as “a major breakthrough in the offshore market.”

Related: IHC Merwede to Build Three Pipelayers for Brazilian Waters

The vessels will be used to install flexible pipelines in Brazilian waters, in accordance with Petrobras’ contracts for the charter and operation of pipelaying vessels.

“With the Brazilian project booming, Petrobras will continue to invest and IHC Merwede is in a strong position to win more business in the near future,” said the company in the press release.

To remind, Petrobras recently approved the 2013-2017 Business & Management Plan (2013-17 BP), with investments of US$ 236.7bn.

IHC Merwede’s President Govert Hamers said: “There is certainly room for optimism due to an encouraging list of prospective projects and potential new orders. IHC Merwede will continue to invest in the development of the company as a whole and aim to further increase its portfolio of products and services.”

Offshore Energy Today Staff, April 4, 2013

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