URK – Hong Kong-based Zhongying International Holding Group Ltd. has acquired Balk Shipyard, an old family-owned business that today builds, refits and converts superyachts of up to 65 meters.
No financial details were released, but Balk Shipyard sounded pleased. “As a result of the takeover, we are now in a stronger position than ever to deliver our world-class shipping expertise to the global superyacht market,” the shipyard said in a statement on Jan. 11. Managing Director Daan Balk is staying on. “Balk remains Balk,” he said.
The shipyard said “the timing could not be better. The superyacht industry is experiencing exponential growth, and all is flux and change. This is the perfect moment for Balk Shipyard to establish ourselves as one of the leading luxury yachting companies in the world.”
Balk shipyard said Zhongyings investment will give the Dutch yard “significant leverage to take on bigger shipbuilding projects than ever before. This is game-changing not only for Balk Shipyard and our wider nautical family but also across the superyacht industry at large. We have got our sights firmly set on big, broad horizons.”
Located a one-hour drive from Amsterdam, the shipyard has been active in boat building and repair for over 200 years.
