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SBM Offshore
SBM Offshore N.V. (IHC Caland N.V. prior to July 2005) is a Dutch-based global group of companies selling systems and services to the offshore oil and gas industry. Its constituent companies started their offshore activities in the early 1950s and SBM subsequently became a pioneer in single buoy moorings (SBM) systems. The firm leases and operates Floating Production Storage and Offloading vessels, and is involved in the design and engineering, construction, installation, operation and maintenance of floating production equipment for the offshore Oils and Gas industry. It is a main board listed company on the Euronext Amsterdam stock exchange and has been a member of the AEX index since 2003. It had been involved in part of a massive corruption scandal in Brazil.
The roots of SBM offshore can be found in the partnership Industriële Handels Combinatie (IHC) founded in The Hague. The idea for IHC came up when the Billiton company made plans for tin mining after the war, and a number of shipyards each deemed themselves incapable to build the required vessels on their own after the war. The partnership consisted of Conrad Shipyard in Haarlem, Gusto Shipyard in Schiedam, Machine Factory De Klop in Sliedrecht, J. & K. Smit in Kinderdijk, L. Smit in Kinderdijk, and Verschure & Co. in Amsterdam. These were all strong players in dredging, but wanted to be more efficient. Therefore they bundled their sales abroad in order have more presence abroad for less cost. IHC Holland did very well. As a specialist in dredging, it had seemed rather immune to the international crisis in shipbuilding, which had been deepest in 1962. Meanwhile the companies all remained independent, and did their own local sales.
In 1965 the boards of 5 of the 6 companies which cooperated in IHC Holland decided to merge. Conrad Shipyard en Stork Hijsch N.V. could not join, because it was part of the Stork conglomerate. In the new company, Gusto Shipyard in Schiedam would specialize in offshore products. Gusto's Offshore product line had started with drilling pontoons, which were followed by oil platforms, drillships, single buoy moorings (e.g. the famous Brent Spar), etc. The 1973 oil crisis severely hit IHC Holland's offshore activities.
The construction shop / shipyard Gusto Staalbouw (Slikkerveer) was founded on 1 October 1973 as a separate company called IHC Gusto Staalbouw BV. The reasons to do this were thought to be in the wage differences between steelworkers and shipbuilders. Gusto Staalbouw first moved to Sliedrecht, and then to Slikkerveer in 1975, where it replaced the local Gusto shipyard. Gusto Staalbouw built a number of offshore products like jackup rigs, but also the single buoy mooring, which was fundamental for the growth of SBM.
The single buoy mooring was an idea by Shell. Gusto shipyard started production of SBM's in the late 1950s with technical assistance by Shell. SBM's became a very successful product of Gusto in the 1960s. However, during installation the builder Gusto often had to call on operator Shell for assistance. In order to solve this Robert Smulders (from the Gusto family) founded a new IHC daughter company on 27 February 1969. This was SBM Inc., specialized in SBM's. It would do marketing and sales, delivery, training of operator staff, after sales, and ideas for new products.
IHC Inc. S.A. was established as a foreign holding in Fribourg, Switzerland. It held the participations in the French offshore drilling company Forasol / Foramer, and SBM Inc. Designers, sales, procurement, and financial administration moved to Switzerland. The holding structure meant that instead of paying 48 % corporate income tax in the Netherlands, IHC paid only 16 % in Switzerland. Soon after the designers moved to Monaco. Monaco had 35 % corporate income tax, and no personal income tax, so this move seemed like tax-shopping. On the other hand Monaco had huge housing cost. The real reason to move there, was that the very international staff required many and speedy work permits, which Switzerland was not willing to provide.
In order to install the buoys, SBM had a ship later called Installer I lengthened at Gusto Schiedam. It got a 50 tons crane, and place on deck for two single buoys moorings. For precise positioning it had many anchors and a system to determine her exact location. She had drills and hammers for undersea pile driving. Her first job was to install a single buoys mooring before the Humber Refinery in England. An early example of SBM's activity was when in the winter of 1970-1971 it installed two SBM's in 80 m deep water in the North Sea.
In 1970 a holding IHC Inter was created to become the proxy owner of the foreign activities. Another new daughter in 1970 was Terminal Installations Inc., designated to specialize in installation of Single Buoy Moorings, and said to be the owner of Installer I.
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SBM Offshore
SBM Offshore N.V. (IHC Caland N.V. prior to July 2005) is a Dutch-based global group of companies selling systems and services to the offshore oil and gas industry. Its constituent companies started their offshore activities in the early 1950s and SBM subsequently became a pioneer in single buoy moorings (SBM) systems. The firm leases and operates Floating Production Storage and Offloading vessels, and is involved in the design and engineering, construction, installation, operation and maintenance of floating production equipment for the offshore Oils and Gas industry. It is a main board listed company on the Euronext Amsterdam stock exchange and has been a member of the AEX index since 2003. It had been involved in part of a massive corruption scandal in Brazil.
The roots of SBM offshore can be found in the partnership Industriële Handels Combinatie (IHC) founded in The Hague. The idea for IHC came up when the Billiton company made plans for tin mining after the war, and a number of shipyards each deemed themselves incapable to build the required vessels on their own after the war. The partnership consisted of Conrad Shipyard in Haarlem, Gusto Shipyard in Schiedam, Machine Factory De Klop in Sliedrecht, J. & K. Smit in Kinderdijk, L. Smit in Kinderdijk, and Verschure & Co. in Amsterdam. These were all strong players in dredging, but wanted to be more efficient. Therefore they bundled their sales abroad in order have more presence abroad for less cost. IHC Holland did very well. As a specialist in dredging, it had seemed rather immune to the international crisis in shipbuilding, which had been deepest in 1962. Meanwhile the companies all remained independent, and did their own local sales.
In 1965 the boards of 5 of the 6 companies which cooperated in IHC Holland decided to merge. Conrad Shipyard en Stork Hijsch N.V. could not join, because it was part of the Stork conglomerate. In the new company, Gusto Shipyard in Schiedam would specialize in offshore products. Gusto's Offshore product line had started with drilling pontoons, which were followed by oil platforms, drillships, single buoy moorings (e.g. the famous Brent Spar), etc. The 1973 oil crisis severely hit IHC Holland's offshore activities.
The construction shop / shipyard Gusto Staalbouw (Slikkerveer) was founded on 1 October 1973 as a separate company called IHC Gusto Staalbouw BV. The reasons to do this were thought to be in the wage differences between steelworkers and shipbuilders. Gusto Staalbouw first moved to Sliedrecht, and then to Slikkerveer in 1975, where it replaced the local Gusto shipyard. Gusto Staalbouw built a number of offshore products like jackup rigs, but also the single buoy mooring, which was fundamental for the growth of SBM.
The single buoy mooring was an idea by Shell. Gusto shipyard started production of SBM's in the late 1950s with technical assistance by Shell. SBM's became a very successful product of Gusto in the 1960s. However, during installation the builder Gusto often had to call on operator Shell for assistance. In order to solve this Robert Smulders (from the Gusto family) founded a new IHC daughter company on 27 February 1969. This was SBM Inc., specialized in SBM's. It would do marketing and sales, delivery, training of operator staff, after sales, and ideas for new products.
IHC Inc. S.A. was established as a foreign holding in Fribourg, Switzerland. It held the participations in the French offshore drilling company Forasol / Foramer, and SBM Inc. Designers, sales, procurement, and financial administration moved to Switzerland. The holding structure meant that instead of paying 48 % corporate income tax in the Netherlands, IHC paid only 16 % in Switzerland. Soon after the designers moved to Monaco. Monaco had 35 % corporate income tax, and no personal income tax, so this move seemed like tax-shopping. On the other hand Monaco had huge housing cost. The real reason to move there, was that the very international staff required many and speedy work permits, which Switzerland was not willing to provide.
In order to install the buoys, SBM had a ship later called Installer I lengthened at Gusto Schiedam. It got a 50 tons crane, and place on deck for two single buoys moorings. For precise positioning it had many anchors and a system to determine her exact location. She had drills and hammers for undersea pile driving. Her first job was to install a single buoys mooring before the Humber Refinery in England. An early example of SBM's activity was when in the winter of 1970-1971 it installed two SBM's in 80 m deep water in the North Sea.
In 1970 a holding IHC Inter was created to become the proxy owner of the foreign activities. Another new daughter in 1970 was Terminal Installations Inc., designated to specialize in installation of Single Buoy Moorings, and said to be the owner of Installer I.
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