Posted on November 18, 2024
Damen Financial Services is supporting JS & Co with the development of a new fleet of offshore support vessels. A partnership recently formed between Damen and French vessel owner JS & Co serves as a good demonstration case for the solutions offered by the Damen Financial Services. Our story begins when JS & Co owner, Jacques de Chateauvieux, decided to build a new fleet for his Pointe-Noire, Congo-based company JS & Co.
Doing an internet search for potential shipyards to get his new fleet off the ground, Mr Chateauvieux came across damen.com and reached out. It was to be the start of a long-term relationship of mutual benefit.
Fast Crew Supply
Things were soon progressing when, in November last year, JS & Co signed an order with Damen for two Fast Crew Suppliers 2206. This lightweight, aluminium vessel, 22.1 metres long, is able to transport up to 42 persons at speeds of up to 32 knots to and from offshore locations.
With its outstanding manoeuvrability and waterjet propulsion, the FCS 2206 is able to make safe, straightforward bow landings. This vessel is recognized in the industry as the most fuel efficient in its class due to the Damen patented Sea-Axe bow which cuts through the water with a minimum of slamming.
One Stop ship solution shop
Within a short time of the order being placed, it was agreed that Damen would also provide the financing for the vessels. Wester Beune, Customer Finance Manager, at Damen Ship Lease Group, takes up the story.
“Thanks to the Damen practice of building proven, reliable vessels in series for stock, we are able to offer fast delivery times – giving JS & Co a rapid start to the development of their new fleet. Plus, by providing finance for the vessels, too, we were able to provide a one-stop-shop service.”
Environmental values
Damen has set itself the goal to become the most sustainable maritime solutions provider in the world. The company takes great care, therefore, to ensure that its operations in the fossil energy sectors adds efficiency and contributes to the transition to a more sustainable future.
Wester says, “At Damen we have set ourselves some serious goals towards increased sustainability in the maritime and offshore energy industries. We are committed to these ambitions, and working hard to make them a reality. These are exciting times – the maritime energy transition is taking place at this very moment, and makes our industry very dynamic. While the transition continues to unfold, and we await the maturity of the technologies that will enable it, our role is increase efficiency and reduce emissions as far as possible.”
“An example of this is our mandate is that we provide financing for vessels operating at existing oil and gas sites, as opposed to new site developments. This is precisely aligned with the JS & Co business model. This has the potential to give a considerable boost to operational efficiency. The fleet currently providing offshore crew transportation in many parts of the West African oil & gas industry are overwhelmingly older vessels close to the end of life. By introducing modern vessels like the FCS 2206 to the region, JS & CO can help bring increased safety, efficiency and sustainability to offshore operations.”
Mutual benefit
Its relationship with JS & Co has the potential to bring long-term benefit to Damen, too, as the company goes about the business of building an increasingly large fleet in the face of positive market conditions.
“In JS & Co, we have found a partner with extensive experience in the maritime and offshore sectors. The company’s vision provides us with a lot of confidence in the future.”
Fleet expansion
The relationship has indeed already proven fruitful when, in summer this year, the two companies signed another contract for a further four FCS 2206 vessels – two of which are being financed by Damen Ship Lease Group.
With plans to continue the development of the JS & Co fleet in the coming years, it seems likely that more orders will follow. In fact, the two parties are already in discussions about the next orders. Here, Damen Financial Services will continue to play an important role.
Tailored financial solutions
“During over more than 40 years of providing tailored financial solutions for our clients, we have built up a strong network of banks and financial institutions. This network can be of significant benefit to companies like JS & Co, broadening their access to a wide range of financial options. In the last months, we have been helping them to source additional, innovative financial solutions to facilitate the future expansion of the JS & Co fleet.”
This is, he says, just the beginning of a long-term partnership.
“At Damen, as a family company, we always take a long-term view, with our eye very much on the next generations. We apply this vision to everything we do, including building our relationships with customers. We view our collaboration with JS & Co so far as the beginning of a robust partnership. We look forward to supporting JS & Co in financing their upcoming feet acquisitions and to exploring the opportunities to expand our cooperation into other markets and strengthen our relationship even further.”
