Sif Completes Coating Facilities in Rotterdam

Dutch offshore foundations manufacturer Sif has completed the new coating facilities at Maasvlakte 2 in the Port of Rotterdam.

Sif added the two extra coating halls in response to stricter requirements for coating as the wind farms are venturing into deeper waters in an effort to lower the costs and generate more energy.

The new coating facilities are part of Sif’s larger plan to upgrade the site at Maasvlakte 2 to meet the future demand for larger-diameter monopiles.

At the moment, all the cans are rolled and welded in Roermond and assembled into monopiles at Maasvlakte 2. From 2020 onward, Sif will also start rolling and welding cans in Rotterdam.

The completion of the coating facilities was announced in Sif’s financial report for the first six months of 2019 in which the company reported EUR 170.4 million in total revenue from contracts with customers, a 16.8% increase compared to the first half of 2018 when the revenue from contracts was EUR 145.9 million.

Profit after tax in the first half of 2019 stood at EUR 2.558 million, a 41% decrease compared to the profit after tax of 4.353 recorded in the first half of 2018.

Orderbook and Outlook

The 1 August 2019 orderbook for the remainder of 2019 shows an estimated 2019 full-year production of 210 Kton and 270 monopiles.

After the reporting date, Sif entered into new contracts for Vineyard Wind and Hollandse Kust Zuid. This brings the orderbook to 220 Kton contracted work and 80 Kton exclusive negotiations, the company said.

With the timing for Vineyard Wind depending on the issuance of a permit the developer, the spread
of projects over 2020 and 2021 is to a certain extent uncertain, according to Sif.