Posted on January 6, 2022
“At the beginning of last year (2020), Royal IHC, the second largest shipbuilding company in the Netherlands (after Damen Shipyards) was financially on the edge of the abyss. The Dutch government, an industrial consortium and the lending banks had to help with a rescue plan.In particular, IHC suffered total losses of €526 mln in the last two years, €300 mln in 2020 and €226 mln in 2019.
Meanwhile, the role of the Dutch government has not yet been played out. The Ministry of Economic Affairs says that the Dutch State is still financially involved in the group, including a bridging credit.”
“Last summer, IHC was able to transfer the dredger Spartacus to the Belgian group Deme after a two-year delay.
IHC almost went bankrupt building the ship due to misjudgements of technological complexity. The Spartacus was one of the three troublesome ships. IHC lost about €400 mln on the construction of these ships.”
Royal IHC’s new CEO Jan Pieter Klaver commented in a company release:
“My knowledge and experience in the market will come in handy to further shape the future of Royal IHC. (Former interim CEO Gerben Eggink) has established a strong foundation on which I will continue to build. I look forward to helping Royal IHC to lead the way in making the maritime industry more sustainable and efficient, together with all employees. With all the qualities that this wonderful company has in-house, I have full confidence in it!”
Along with CFO Paul van der Harten and commercial director Kees van der Sfast, the new CEO Klaver is the three-headed board of IHC.
See full Royal IHC story here:
