Vroon To Sell 40 Offshore Support Vessels in Restructure

Credit: motomoto sc/Unsplash

Vroon have outlined a restructuring plan with banks set to take control of one of the best known shipping brands in the Netherlands, says an article published on Splash.

Livestock carriers

Vroon’s banks have confirmed their intention to commit to the restructuring plan, which is planned to be closed no later than March 31.

The so-called “new Vroon” will aim to be a more focused shipowner with a 60-strong fleet of livestock carriers, product tankers, high-heat tankers, and emergency response and rescue vessels (ERRVs). Vroon’s fleet of 40 offshore support vessels will be sold over the next 18 months, resulting in a slimming down of certain offices and sea staff around the world.

Company’s banks

As part of the restructuring, ownership will transition from the Vroon family to the company’s banks.

The Vroons entered shipowning 133 years ago, marking them out as one of the longest running Dutch families in shipping.

New managing board

Finally in the major corporate overhaul, Herman Marks has decided to step down as CEO with Rob Schuyt, the current CFO, taking the job on an interim basis pending the appointment of a new managing board later this year.

Immediate solution

“Restructuring is necessary because our company is faced with a debt level that, due to consecutive economic setbacks, is simply too high to be paid through normal operational and financial performance. Despite the improving performance over 2021 and 2022, the situation requires an immediate solution which subsequently creates long-term perspective,” Marks and Schuyt wrote in a letter to employees this week seen by Splash.

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Source: Splash