WILLEMSTAD--Curaçao’s ship-repair industry is positioning itself to benefit from the rapid expansion of offshore oil and gas activity in Guyana and Suriname, with plans being considered for an investment of more than €100 million to modernize and expand the island’s shipyard.
According to media outlets on Curaçao, the proposed development program, known as CAPEX 2.0, is intended to significantly increase the shipyard’s capacity and place Curaçao in a stronger position to compete for repair and maintenance work generated by the expanding offshore energy industry in the Guianas. Financing for the investment has not yet been finalized.
Details of the plan emerged following an August 29 visit to the Schottegat by the Association of Dutch Caribbean Economists, commonly known as the Economenclub. The group met with representatives of C.D.M. Holding, which owns the shipyard, and Damen Shiprepair Curaçao as part of a broader examination of the economic potential of Curaçao’s harbor and maritime sector.
C.D.M. Holding director Augustin Diaz reportedly outlined investments already made in recent years to address deferred maintenance and maintain the operational capacity of the shipyard. CAPEX 2.0 would represent a much larger second phase, aimed at further modernization and expansion.
The plan was previously known to be under development, but the scale of the proposed investment has now become clearer. Curaçao.nu reported that the second investment phase includes the acquisition of four new cranes and that C.D.M. Holding is still seeking financing for the program.
A major factor driving the proposed expansion is the growth of offshore oil and gas operations off Guyana and Suriname. Development of the sector is creating increased demand for offshore support vessels used to supply, maintain and assist drilling platforms and other offshore installations.
Curaçao’s existing ship-repair infrastructure and geographic position could allow the island to capture part of the maintenance and repair market associated with this expanding fleet. Both C.D.M. Holding and Damen are reportedly looking at the Guyana-Suriname energy corridor as a significant opportunity for future business.
Damen Shiprepair Curaçao CEO Surldric Rojer has indicated that regional conditions for ship repair and maintenance are favorable, while the wider Damen Group in the Netherlands is also reported to see growth potential for Curaçao.
Potential business is not limited to Guyana and Suriname. The Economenclub also identified Venezuela as another possible source of activity for Curaçao’s shipyard should economic restrictions continue to ease, potentially allowing more Venezuelan vessels to seek servicing on the island.
Damen is also developing what it calls “afloat jobs” through Damen H&V Carib. Under the concept, certain repairs can be carried out while vessels remain afloat rather than requiring them to enter the shipyard’s dry docks.
Such work could be performed in open water or at locations including Caracasbaai, allowing the company to service vessels beyond the physical capacity of the existing shipyard and potentially expanding Curaçao’s share of the regional maritime maintenance market.
The shipyard development forms part of a wider discussion about transforming the Schottegat into a larger economic engine for Curaçao. The Economenclub has identified maritime services, ship repair, logistics, industrial activities and storage as sectors that could contribute to greater diversification of the island’s economy.
The proposed €100 million-plus investment would therefore extend beyond the shipyard itself. Increased vessel traffic, maintenance work and maritime activity could generate additional opportunities for suppliers, logistics companies, technical service providers and other businesses operating in and around the Schottegat.
For Curaçao, the emerging offshore industries in Guyana and Suriname could provide an opportunity to use infrastructure the island already possesses to participate in one of the fastest-growing economic sectors in the region, without being an oil producer itself.
