Concordia Damen receives 40 inland waterway barge order from J.P. Morgan

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November 6, 2020

Press Release – Concordia Damen has signed a contract for 40 eco-friendly dual fuel barges with institutional investors advised by J.P. Morgan Asset Management. These barges will be chartered by Shell and operated by the VT Group/Marlow. Frachtcontor Capital Partners was the broker for the deal. 

The 110 x 11.5 metres vessels will have LNG propulsion and extreme shallow draught capabilities – 2800 ton on 3.25 metre draught – in order to maximise cargo carrying capacity on Dutch, Belgian and German canal and river networks. 

Martin van Veen, freight trading manager, of Shell explained the choice of Concordia Damen, saying, “Concordia Damen has a proven track record in the delivery of products that are highly efficient and sustainable. In addition, they have demonstrated their capabilities in the delivery of shallow draught vessels – which is of importance to this project. We are looking forward to the collaboration.” 

Chris Kornet CEO Concordia Damen said, “We are very grateful to have received this order and are looking forward to beginning the work. This is yet again a validation of our efforts towards greater levels of sustainability in the inland shipping sector.” 

Andy Dacy, Global Head of Transportation at J.P. Morgan Asset Management, said: “We are excited and honored to partner with Shell and Concordia Damen on this innovative and sustainable inland waterway project.” 

The VT Group is specialised in inland shipping, transporting minerals, chemical products, bio fuels and lubricants. The Parsifal tankers will transport mineral oils between Antwerp, Amsterdam, Rotterdam and the Rhine network. 

Concordia Damen will begin construction of the tankers in December this year. The delivery of the first vessel will be in November 2021. After that, the yard will deliver another vessel each month, completing the order by December 2024. 

Concordia Damen 

Concordia Damen’s core business is designing and building inland waterway vessels with an innovative and economic profile. Down-to-earth-management enables us to successfully build vessels worldwide. Besides shipbuilding, we are a reputable shipbroker and manage a fleet of inland navigation vessels. Since the founding of the company, Concordia Damen has delivered more than 140 vessels with very different specifications to ship owners in the Netherlands and all over the world. High quality, innovation and efficient shipbuilding is the Concordia Damen trademark. Concordia Damen see changes coming, understand what they mean and can thereby process quickly and effectively in its service. For more information: www.concordiadamen.com 

Damen Shipyards Group 

Damen Shipyards Group operates 35 shipbuilding and repair yards, employing 12,000 people worldwide. Damen has delivered more than 6,000 vessels in more than 100 countries and delivers some 160 vessels annually to customers worldwide. Based on its unique, standardised ship-design concept Damen is able to guarantee consistent quality. 

Damen’s focus on standardisation, modular construction and keeping vessels in stock leads to short delivery times, low ‘total cost of ownership’, high resale values and reliable performance. Furthermore, Damen vessels are based on thorough R&D and proven technology. 

Damen offers a wide range of products, including tugs, workboats, naval and patrol vessels, high speed craft, cargo vessels, dredgers, vessels for the offshore industry, ferries, pontoons and superyachts. 

For nearly all vessel types Damen offers a broad range of services, including maintenance, spare parts delivery, training and the transfer of (shipbuilding) know-how. Damen also offers a variety of marine components, such as nozzles, rudders, winches, anchors, anchor chains and steel works. 

Damen Shiprepair & Conversion (DSC) has a worldwide network of eighteen repair and conversion yards of which twelve are located in North West Europe. Facilities at the yards include more than 50 floating (and covered) drydocks, including the longest, 420 x 80 metres, and the widest, 405 x 90 metres, as well as slopes, ship lifts and indoor halls. Projects range from the smallest simple repairs through Class’ maintenance to complex refits and the complete conversion of large offshore structures. DSC completes around 1,300 repair and maintenance jobs annually, both at yards as well as in ports and during voyage.

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