SYDNEY: Marine propulsion and gyro stabilization company, VEEM Ltd has successfully constructed the world’s largest and most powerful known gyrostabilizer for delivery to Europe’s second largest ship builder, Damen Shipyards.

At 20 metric tonnes, the VG1000 SD easily eclipses the second largest gyro product VEEM produces, the VG260, which is approximately one quarter of the size of the VG1000 SD. The VG1000 SD will be officially launched at a function at VEEM’s Canning Vale facilities later today by Australian Minister for Defence, The Hon. Linda Reynolds.

In addition to its gyrostabilizer range (which has significant defence applications), VEEM has developed a substantial defence business, servicing both surface and sub-surface combatants. The VG1000 SD launch follows extensive sea trials with Damen, after which VEEM secured an order for the product in 2018.

The trials involved fitting two model VG260 SD VEEM gyrostabilizers to a 50-metre test vessel in the Netherlands, which was subsequently evaluated by Damen management and current and potential purchasers of Damen ships. The VG1000 SD will be installed into Damen’s revolutionary new Fast Crew Supplier, FCS 7011, which is currently under construction and expected to launch later this year.

VEEM Managing Director Mark Miocevich said: “The successful completion of the VG1000 SD is the culmination of significant research and development investment into the product. “I would like to congratulate the entire talented VEEM team, who after years of hard work have delivered a gyro product which is unrivalled anywhere in the world in terms of scale and quality.

“The VG1000 SD has a broad potential market, with the product best suited to vessels 60 metres to 90 metres in length, which encompasses luxury and superyachts, defence and civil vessels, and has further commercial applications including windfarm services, oilfield services, crew transfer and ferries.

“We are delighted to have such an internationally esteemed shipbuilder as Damen as the first customer for the VG1000 SD, and we anticipate that the successful delivery of the VG1000 SD will substantially increase interest in the product, which will help propel long-term value for our shareholders.”