Veem books more marine stabiliser orders

Demand for VEEM Ltd’s marine gyrostabilisers (pictured) has continued to accelerate with further new orders worth $2.8 million bringing the Perth company’s forward order book to $5.9 million.

New orders include a third VG1000SD gyrostabiliser for an experienced local owner, which will be installed in an existing 54 metre Damen Expedition and Yacht Support vessel.

Major Dutch builder, Heesen Yachts, has ordered multiple gyrostabilisers and Italian luxury yacht builder, Canados International, has also placed an order for delivery before the end of 2020.

VEEM Managing Director Mark Miocevich said: “These new orders for a further five gyros validate our decision late last year to expand the gyro facility at VEEM’s Canning Vale premises, providing the capability to scale up and meet customer demand.

“Spectacularly, we have already received orders for $4.1 million of gyros during the first six weeks of this financial year bringing our total order book to $5.9 million. This is a significant acceleration of orders compared to our total gyro sales of $4.8 million for FY 2020.”

The gyrostabilisers reduce vessel roll in heavy seas, allowing work boats to stay out in poor weather for longer, and making the ride in luxury vessels and ferries smoother.

Picture: VEEM Ltd

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