Balk Shipyard Is Dutch-Owned Once Again

One of the oldest superyacht service shipyards has changed hands. Balk Shipyard in The Netherlands is entirely Dutch-owned once again.

Dating to 1798, the yard sold an ownership stake to a Hong Kong-based investor in 2022. Specifically, it was Zhongying International Holdings Group. The company’s primary business holdings were integrated circuits and semi-conductor parts. It additionally operated in the aviation and yachting sectors, as well as property investment. At the time, Daan Balk, the yard’s CEO and seventh-generation family member running the yard, said the sale solidified the company’s future. “There is tremendous growth that the superyacht world is in right now,” he explained. “If you want to compete at this level and don’t want to fall behind, you have to come along.” He additionally explained, “We don’t have the resources for that.”

Although the terms of the new acquisition weren’t revealed, Balk Shipyard has a Dutch entrepreneur as the majority shareholder. According to a statement from the yard, the shareholder “will be actively involved in the daily operations.” In fact, it continues, he has a “hands-on approach.”

In 2023, Daan Balk stepped down as CEO to become a non- executive director and advisor. Evan Kortmann succeeded him as CEO, a position he retains today. Regarding the new ownership, Kortmann says, “With a committed owner who is directly involved in the yard and its operations, we look to the future with confidence.” Furthermore, he reaffirmed that the yard will focus on refits and rebuilds for projects to 213 feet (65 meters).

Balk Shipyard got its start constructing wooden vessels in Elburg, The Netherlands. Sijbrand Balk acquired an existing shipyard for 1,220 Dutch guilders, a significant sum in that era. Notably, the very first boat it launched that same year cost 812 guilders. Operating in Urk in The Netherlands since 2004, the shipyard turned its original premises into a craftsmanship museum.

“Our Dutch heritage is something we are proud of, and this change allows us to underline it even further,” Kortmann asserts.

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