Damen looking to grow in several business areas

The all-time low offshore market is also hitting Dutch shipbuilding group Damen. The important thing now is to grow profits from other parts of the company, the shipyard tells ShippingWatch.

When a key part of the business consists of building vessels for - and to service - the offshore sector, challenges naturally arise when the oil price takes a plunge and the demand for new vessels suddenly drops. This development has also impacted Dutch shipbuilder Damen, for which a significant part of the earnings traditionally come from offshore customers, and the company does acknowledge that the business has in recent months been somewhat less lucrative than normally.

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