REBO nv, the heavy weight terminal of Port Oostende, is fully in a growth scenario
Recently, Port Oostende announced its financial results. Both in terms of maritime traffic and employment, we saw a clear increase. Moreover, Port Oostende achieved the best financial result since 1998! Its subsidiary REBO nv also achieved excellent results. Port Oostende increased its stake from 15% to 100% in October 2019. The heavy weight terminal REBO nv that in the past was quasi exclusively used for the construction of offshore wind farms thus became a full subsidiary of Port Oostende.
The reason why Port Oostende wanted to acquire all shares was twofold. On the one hand: with the construction of the provisionally last wind farm in 2020 (Seamade project), Port Oostende knew that between 2020 and the construction of the future wind farms in the Princess Elisabeth zone from 2027 there would be a very long period of vacant property at the heavy load terminal. On the other hand, Port Oostende wanted to give a new dynamism to this excellently located terminal with direct access to open sea.
In the period of its establishment in 2010 to 2018, periods of boom, due to the construction of wind farms, alternated with loss years when there were no wind farm projects. After acquiring this terminal, Port Oostende, carried out a strategic reorientation, decisively choosing to turn the pure offshore wind terminal into a multipurpose heavy weight terminal. With success!
After acquisition, profits tripled to an average profit of € 201 015 a year. Profit before tax in the closed 2023 financial year amounts to € 361 305 or a cumulative profit for the period 2019 - 2023 of € 1 005 076. This terminal will certainly still be used for offshore wind; in addition, construction of steel storage tanks weighing up to 155 tonnes, which will be shipped to LBC tank terminals in Antwerp later this year, is currently taking place. There is also storage and transhipment of other maritime-related heavy constructions.
"We are particularly pleased that the agile response to the changed market conditions is clearly bearing fruit. Both financially, in terms of employment and in terms of maritime traffic."
"As chairman of REBO nv, I am committed to maximising the occupancy of this terminal, with attention to blue economy and other sectors within the niche markets on which Port Oostende focuses. The many positive reactions I receive are positive witnesses of the connection between port and city."
"The structurally good results go hand in hand with rising employment, including for dockworkers. At peak times, up to 65 dockers are active at Port Oostende's own terminals."
Port Oostende
Port Oostende is committed to continuity, growth, and employment within five pillars: Blue Economy, Lift-on Lift-off & Bulk & Project Cargo, Cruises & Roll-on-roll-off, Circular Industry and the Fisheries Sector. These sectors will continue to be built on two foundations: prioritising safety, health, and the environment and, secondly, supporting innovation and development.
