Company structures, financing and costs of Dutch ... - Greenpeace

Company structures, financing and 

costs of Dutch pelagic freezer trawler 

companies 

A research paper prepared for Stichting Greenpeace 

Nederland

Company structures, financing and 

costs of Dutch pelagic freezer trawler 

companies 

A research paper prepared for Stichting Greenpeace 

Nederland 

Final Report: 16 May 2011 

Jan Willem van Gelder 

Petra Spaargaren 

Profundo 

Radarweg 60 

1043 NT Amsterdam 

The Netherlands 

Tel: +31-20-820 83 20 

E-mail: profundo@profundo.nl 

Website: www.profundo.nl

Contents 

Summary ....................................................................................................................1 

Introduction................................................................................................................3 

Chapter 1 Parlevliet en van der Plas ...............................................................4 

1.1 Introduction ..............................................................................................4 

1.2 Fleet ..........................................................................................................4 

1.3 Revenues ..................................................................................................5 

1.4 Dutch subsidiaries ...................................................................................6 

1.4.1 Kilda BV .....................................................................................................6 

1.4.2 Fladen Gronden BV ...................................................................................7 

1.4.3 Vikingbank BV............................................................................................7 

1.4.4 Silver Pit BV...............................................................................................7 

1.4.5 Parlevliet en van der Plas BV.....................................................................7 

1.4.6 Parlevliet en van der Plas Haringhandel BV...............................................7 

1.4.7 Sawad Food International BV.....................................................................8 

1.5 German subsidiaries................................................................................8 

1.5.1 Doggerbank Seefischerei ...........................................................................8 

1.5.2 Westbank Hochseefischerei.......................................................................9 

1.5.3 Oderbank Hochseefischerei GmbH............................................................9 

1.5.4 Ostbank Hochseefischerei GmbH ............................................................10 

1.5.5 Mecklenburger Hochseefischerei GmbH ..................................................10 

1.5.6 Ocean Food GmbH..................................................................................10 

1.5.7 Euro-Baltic Fischverarbeitungs.................................................................11 

1.5.8 German Seafrozen Fish Handelsgesellschaft GmbH ...............................11 

1.6 Other subsidiaries..................................................................................11 

1.6.1 Atlantic High Sea Fishing Company .........................................................11 

1.6.2 Tronderbas AS.........................................................................................12 

1.6.3 UK Fisheries Ltd.......................................................................................12 

1.7 Revenues and profits per subsidiary....................................................12 

1.8 Loans ......................................................................................................16 

Chapter 2 Cornelis Vrolijk/Jaczon.................................................................17 

2.1 Introduction ............................................................................................17 

2.2 Fleet ........................................................................................................17 

2.3 Revenues ................................................................................................18 

2.4 Dutch subsidiaries .................................................................................19 

2.4.1 Introduction ..............................................................................................19 

2.4.2 Cornelis Vrolijks Visserij Maatschappij Diepzee II BV...............................19 

2.4.3 Cornelis Vrolijks Visserij Maatschappij Diepzee IV BV .............................19 

2.4.4 Jaczon Visserijmaatschappij Afrika BV.....................................................20 

2.4.5 Jaczon Visserijmaatschappij Johanna Maria BV ......................................20 

2.4.6 Jaczon Visserijmaatschappij Zeeland BV.................................................20 

2.4.7 Jaczon Visserijmaatschappij Wiron BV ....................................................20 

2.4.8 Cornelis Vrolijk’s Visserij Maatschappij BV...............................................20

2.4.9 Jaczon Visgroothandel BV .......................................................................21 

2.5 Foreign subsidiaries ..............................................................................21 

2.5.1 Introduction ..............................................................................................21 

2.5.2 France Pelagique S.a.r.l...........................................................................21 

2.5.3 North Atlantic Fishing Co..........................................................................22 

2.5.4 Valiant Trawlers .......................................................................................22 



2.7.1 Jaczon BV................................................................................................24 

2.7.2 Vroko International Holding ......................................................................24 

2.8 Loans ......................................................................................................25 

Chapter 3 Willem van der Zwan en Zonen ....................................................26 

3.1 Introduction ............................................................................................26 

3.2 Fleet ........................................................................................................26 

3.3 Revenues ................................................................................................27 

3.4 Most important subsidiaries..................................................................27 

3.4.1 AZ Ocean Fisheries II BV.........................................................................27 

3.4.2 AZ Ocean Pelagic Fisheries BV ...............................................................28 

3.4.3 AZ Pelagic Fisheries BV...........................................................................28 

3.4.4 W. Van der Zwan Zonen Visserij Maatschappij BV...................................28 

3.4.5 Afrex Fisheries BV ...................................................................................28 

3.4.6 W. van der Zwan en Zonen BV ................................................................28 



3.6.1 Introduction ..............................................................................................29 

3.6.2 W.Z. Canaria BV ......................................................................................29 

3.6.3 Trachurus BV ...........................................................................................29 

3.6.4 Biomarine BV ...........................................................................................30 

3.7 Loans ......................................................................................................30 

Chapter 4 Further research – fuel costs .......................................................31 

Appendix 1 Corporate structure of the companies ........................................32 

Appendix 2 Subsidiaries of Parlevliet en van der Plas...................................36 

Appendix 3 Direct subsidiaries of Jaczon BV.................................................37 

Appendix 4 Indirect subsidiaries of Jaczon BV ..............................................38 

Appendix 5 Subsidiaries Willem van der Zwan en Zonen..............................39 

Appendix 6 References.....................................................................................40

Summary 

This report provides information on company structures, financing and costs of three Dutch 

pelagic freezer trawler companies and their subsidiaries: Parlevliet en van der Plas, Cornelis 

Vrolijk/Jaczon and Willem van der Zwan en Zonen. 

Together, these three companies own 32 pelagic freezer trawlers, of which: 

• 14 with a Dutch flag; 

• 6 with a German flag; 

• 7 with a UK flag; 

• 3 with a French flag; 

• 2 with a Lithuanian flag; 

• 1 with an Irish flag. 

Willem van der Zwan en Zonen only has trawlers with a Dutch flag, which are operated by 

Dutch subsidiaries. 1 Also the trading/processing activities of the group are executed by Dutch 

subsidiaries. 

Parlevliet en van der Plas and Cornelis Vrolijk/Jaczon execute a large part of their operations 

through foreign subsidiaries. Parleviet en van der Plas has a total of 11 foreign subsidiaries, 

based in Germany, Lithuania, Norway and the UK, which either operate vessels or 

trading/processing centres. Cornelis Vrolijk/Jaczon has three foreign subsidiaries which 

operate vessels or trading/processing centres, based in France and the UK. In addition, all 

three groups have other foreign subsidiaries, which do not own vessels or important 

processing/trading centres but which could be important. These subsidiaries could be found 

in Appendix 2 for Parlevliet en van der Plas, Appendix 3 and Appendix 4 for Cornelis 

Vrolijk/Jaczon and Appendix 5 for Willem van der Zwan en Zonen. 

Table 1 provides an overview of the revenues and profits of the three companies. For 

Cornelis Vrolijk/Jaczon, no recent data were available. It is assumed that the data for the 

most recent year (2007/2008 for revenues and different years from 2004 for profits) can be 

used as an estimate for 2008 and 2009. When adding the revenues of the three companies, 

it can be shown that revenues of the three companies combined in 2008 were approximately 

€ 537.1 million, resulting in a net profit of € 56.9 million. In 2009, revenues and profits were 

lower: an estimated € 402 million revenues resulting in a net profit of € 45.2 million. 

Table 1 Revenues and profits of Dutch pelagic freezer trawler companies 

Group Year Vessels Revenues (€ mln) Profits (€ mln) 

Parlevliet en van der Plas 2008 

15 

278.0 22.6 

Parlevliet en van der Plas 2009 

146.3 14.9 

Cornelis Vrolijk/Jaczon 2007/2008 12 181.4 24.0* 

Willem van der Zwan en Zonen 2008 

5 

77.7 10.3 

Willem van der Zwan en Zonen 2009 

74.3 6.3 

Total 2008 32 537.1 56.9 

Total 2009 32 402.0 45.2 

*Based on most recent year for all ships, years range between 2004 and 2009. 

1 This information applies to the period researched (2008/2009). In February 2010 one vessel changed 

to Peruvian flag because the vessel went fishing in Peru. 

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These results can be compared to a recent report by Dutch LEI, which focuses on the Dutch 

pelagic freezer trawlers only. The report by LEI presents a revenues figure of Dutch pelagic 

freezer trawlers of € 142 million in 2008 and € 115 million in 2009 (see Table 2). Profits are 

negative in both years. The reason that the figures used by the Dutch LEI is much lower than 

our estimates as presented in Table 1 can be explained by two reasons: 

• We focus on all ships of the three companies and not only the ones with a Dutch flag. 

Around 45% of the ships owned by the companies have a Dutch flag. Solely focusing on 

the Dutch fleet would approximately halve our estimate; 

• We focus on the whole business of the three companies, including vessel owning 

subsidiaries and trading subsidiaries. The vessel owning subsidiaries catch fish, which is 

then entirely sold to the trading and processing subsidiaries of the group. These trading 

and processing subsidiaries add value to the fish they bought from the vessel owning 

subsidiaries of the group and from external suppliers, and then sell the fish to external 

buyers. 

Year 

Table 2 Revenues Dutch fishing sector 

Dutch pelagic freezer trawlers Dutch fishing sector 

Vessels Revenues (€ mln) Profits (€ mln) Vessels Revenues (€ mln) % pelagic 

2005 15 137 1 447 439 31.2 

2006 13 125 7 446 426 29.3 

2007 14 135 6 442 477 28.3 

2008 14 142 (4) 615 473 30.0 

2009 14 115 (6) 590 386 29.8 

Source: LEI, “Visserij in Cijfers 2010”, LEI, September 2010. 

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Introduction 

The objective of this research project is expand information gathered in an earlier report by 

SOMO on the Dutch pelagic freezer trawler industry, to get some detailed answers on 

specific questions with regard to company structures, financing and costs of three Dutch 

pelagic freezer trawler companies and their subsidiaries: Parlevliet en van der Plas, Cornelis 

Vrolijk/Jaczon and Willem van der Zwan en Zonen. 

The following specific research questions will be researched: 

• Dutch subsidiaries: Is additional information available on the Dutch subsidiaries of the 

three companies which SOMO has already researched, or foreign companies owned by 

these Dutch subsidiaries? 

• Foreign subsidiaries: What are the revenues and profits of the Dutch companies over the 

last 5 years, taking into account the complete picture of Dutch, other EU and non-EU parts 

of the company structure? 

• Company structure Dutch companies: A map of the company structure outlining the 

involvement of the three Dutch companies in other fisheries in the form of subsidiaries or 

other type of stakes in companies. 

Chapter 1 will discuss Parlevliet en van der Plas, commenting on Dutch and foreign vessel 

owning and trading subsidiaries, their revenues and profits and activities. Chapter 2 will 

provide this information for Cornelis Vrolijk/Jaczon, and Chapter 3 will discuss Willem van 

der Zwan en Zonen. Chapter 4 shortly discusses options for further research focused on fuel 

costs. 

An overview of the corporate structures of the groups, outlining the relationships that exist 

between the different subsidiaries discussed in this report, can be found in Appendix 1. 

A summary of the findings of this report can be found on the first pages of this report. 

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Chapter 1 Parlevliet en van der Plas 

1.1 Introduction 

Pelagic trawler company Parlevliet & Van der Plas was founded in 1949 by Dirk Parlevliet 

and the brothers Dirk and Jan van der Plas. The ultimate owner of the group is PP Groep 

Katwijk BV, based in Valkenburg, the Netherlands. The company's fishing fleet consists of 15 

freezer-trawlers, operated by a range of subsidiaries based in the Netherlands, Germany, the 

United Kingdom, Norway and Lithuania. The total catch of the group as a whole is estimated 

at 300,000 tonnes in 2008 (see paragraph 1.7). The company also owns and operates 

multiple cold stores, trading offices, factories and own transport. These facilities are based in 

the Netherlands and Germany. 1 

Appendix 1 provides an overview of the corporate structure of Parlevliet en van der Plas, 

outlining the relationships that exist between the different subsidiaries discussed in this 

chapter. 

This chapter is organised as follows: Paragraph 1.2 will provide an overview of the fleet of 

the company. Paragraph 1.3 will estimate the amount of revenues generated by the group as 

a whole. Paragraph 1.4 will provide more details on the Dutch subsidiaries of the group, 

paragraph 1.5 will discuss the German subsidiaries and paragraph 1.6 will discuss the 

subsidiaries based in other countries. Paragraph 1.7 will present a summary of the revenues 

and profits generated by each subsidiary. Finally, paragraph 1.8 sheds light on bank loans 

provided to Parlevliet en van der Plas over the past few years. 

1.2 Fleet 

Table 3 provides an overview of the fleet of Parlevliet en van der Plas. In total, the company 

has 15 pelagic freezer trawlers, of which three operate under a Dutch flag, six operate under 

a German flag, two operate under Lithuanian flag, one operates under a Norwegian flag and 

three operate under a UK flag. 

Table 3 Fleet of Parlevliet en van der Plas 

Vessel Flag Engine 

KW 170 Annie Hillina Dutch 

KW 172 Dirk Diederik Dutch 

2,738 KW 

(3,670 HP) 

6,565 KW 

(8,800 HP) 

-4- 

Freezing 

capacity 

(metric 

ton/day) 

Subsidiary 

100 Kilda BV 2 

200 Fladen Gronden 

KW 174 Annelies Ilena Dutch 14,400 KW 300 Vikingbank 

BX 786 Atlantic Peace German 2,724 KW 40 Ocean Food GmbH & Co 

BX 791 Jan Maria German 

ROS 171 Maartje Theadora German 

6,155 KW 

(8,250 HP) 

6,416 KW (2 

x 4,300 HP) 

250 Doggerbank Seefischerei 

300 Westbank Hochseefischerei 

ROS 784 Dirk Dirk German 3,282 KW 200 Ostbank Hochseefischerei 

2 Since end 2009: Ostbank Hochseefischerei GmbH

Vessel Flag Engine 

ROS 785 Helen Mary German 

ROS 786 Gerda Maria German 

(4,400 HP) 

6,416 KW (2 

x 4,300 HP) 

2,954 KW 

(3,960 HP) 

-5- 

Freezing 

capacity 

(metric 

ton/day) 

KL 749 Margiris Lithuanian 9,880 KW 275 

KL 759 Nida Lithuanian 

1,760 KW (2 

x SKL 8VD 

26/20) 

Subsidiary 

275 Oderbank Hochseefischerei 

26 Mecklenburger 

Hochseefischerei 

NT 500-V Tronderbas Norwegian 7,000 (?) ? Tronderbas 

H 135 Farnella UK 

H 771 Marbella UK 

1,825 KW 

(2,447 HP) 

2,458 KW 

(3,295 HP) 

20 

Atlantic High Sea Fishing 

Company 

Atlantic High Sea Fishing 

Company 

? UK Fisheries 

0 UK Fisheries 

H 176 Arctic Warrior UK 2,400 KW 48 UK Fisheries 

1.3 Revenues 

Source: Annual reports of all subsidiaries, websites Parlevliet en van der Plas. 

As PP Groep Katwijk BV is the ultimate owner of the group, its revenues and profits should 

represent the consolidated revenues and profits of all group companies. In 2008, revenues of 

PP Groep Katwijk BV were € 278.0 million, resulting in a net profit of € 22.6 million. In 2009, 

revenues were much lower: € 146.3 million, resulting in a net profit of € 14.9 million. 

Table 4 Revenues and profits of PP Groep Katwijk 

Year Revenues (€ mln) Profits (€ mln) 

2007 270.6 19.6 

2008 278.0 22.6 

2009 146.3 14.9 

Source: PP Groep Katwijk BV, “Financial report 2008”, PP Groep Katwijk BV, 

November 2009; Brauw, C. and van der Wal, S., “The Pelagic Freezer Trawler 

Association: An assessment of activities in and outside Europe”, SOMO, June 2010. 

The following paragraphs will try to estimate how much each of the subsidiaries of the 

Parlevliet en van der Plas Group contribute to the consolidated revenues and profits of PP 

Groep Katwijk BV. Because many subsidiaries of the group have not yet deposited an annual 

report for 2009, we will focus on revenues and profits generated in 2008. If available, the 

data for 2009 are mentioned as well.

1.4 Dutch subsidiaries 

A full list of the subsidiaries of Parlevliet en van der Plas can be found in Appendix 2. Table 5 

presents an overview of the financial accounts of a range of Dutch subsidiaries of PP Group 

Katwijk BV. The subsidiaries with a relatively large amount of revenues are generally the 

subsidiaries that are actively operating, either as a vessel owning subsidiary or as a 

trading/processing subsidiary. 

Table 5 Most important Dutch subsidiaries, 2008 data 

Subsidiary Revenues (€ mln) Profits (loss) (€ mln) 

Parlevliet en van der Plas BV 153.0 14.3 

Parlevliet en van der Plas Haringhandel BV 11.0 1.9 

Kilda BV 7.8 (0.4) 

Vikingbank BV 23.5 (0.9) 

Fladen Gronden BV 10.1 0.3 

Silver Pit BV 5.2 1.4 

Sawad Food International BV 22.3 0.5 

The Dutch subsidiaries of the group that own vessels and sell fish to other subsidiaries of the 

group are: 

• Kilda BV 

• Fladen Gronden BV 

• Vikingbank BV 

• Silver Pit BV (until recently) 

In addition, the following subsidiaries are important processing and trading subsidiaries: 

• Parlevliet en van der Plas Haringhandel BV sells herring in the EU 

• Sawad Food International BV sells different species to non-EU markets 

• Parlevliet en van der Plas BV sells different species to EU and non-EU markets 

These subsidiaries are each discussed below: 

1.4.1 Kilda BV 

Kilda BV is based in Valkenburg. This subsidiary engages in catching, producing and trading 

in pelagic fish products. The company owns the vessel ROS 170 Annie Hillina, which the 

company acquired in 2007 from another group company for € 1 million. In 2008, the 

company realised revenues of € 7.8 million, resulting in a net loss of € 0.4 million. 

In 2008, revenue was generated by the sale of horse mackerel (€ 3.4 million), herring (€ 2.7 

million) and mackerel (€ 1.7 million) to group companies. 2 

In December 2009, the vessel ROS 170 Annie Hillina was sold to a German subsidiary of the 

Parlevliet en van der Plas group: Ostbank Hochseefischerei GmbH (see paragraph 1.5.4). 3 

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1.4.2 Fladen Gronden BV 

Fladen Gronden BV is based in Valkenburg. This subsidiary engages in catching, producing 

and trading in pelagic fish products. The company owns the vessel KW 172 Dirk Diederik. In 

2008, Fladen Gronden BV generated revenues of € 10.1 million, resulting in a net profit of € 

0.3 million. 

In 2008 the company generated its revenues by selling blue whiting (€ 3.2 million), horse 

mackerel (€ 1.7 million), mackerel (€ 1.6 million), herring (€ 1.0 million) and other species (€ 

2.6 million) to group companies. 4 

1.4.3 Vikingbank BV 

Vikingbank BV is based in Valkenburg. This subsidiary engages in the catching, producing 

and trading pelagic fish products. The company owns the vessel KW 174 Annelies Ilena 

(previously called Atlantic Dawn), which had in 2008 been operational the whole year 

(compared to eight months in 2007). Vikingbank BV acquired this vessel in 2007 for € 50 

million. In 2008, the company realized revenues of € 23.5 million, resulting in a net loss of € 

0.9 million. This loss was mainly due to repairs that had to be carried out in this year. 

In 2008 the company generated its revenues by selling horse mackerel (€ 17.8 million), blue 

whiting (€ 3.9 million) and mackerel (€ 1.8 million) to group companies. 

At the end of December 2008, total assets of the company were € 43.0 million. These assets 

were mainly financed by an outstanding loan with Rabobank (see paragraph 1.8). 5 

1.4.4 Silver Pit BV 

In 2008, Silver Pit BV generated revenues of € 5.2 million, resulting in a net profit of € 1.4 

million. The company sells fish to group companies. However, in 2007 the company sold its 

vessel KW 171 Maartje Theodora to German subsidiary Westbank Hochseefischerei (see 

paragraph). Because the subsidiary is yet to receive (part of) the payments for the ship, in 

2008 the company had accounts receivables outstanding to group companies of € 23.7 

million. 6 

1.4.5 Parlevliet en van der Plas BV 

Trading subsidiary Parlevliet & van der Plas BV is based in Valkenburg, the Netherlands. In 

2008, this subsidiary generated € 153.0 million, resulting in a net profit of € 14.3 million. The 

company generates its revenues by selling fish and fish products. More than 50 per cent of 

the revenues of the company are generated through sales outside the EU. 7 

In IJmuiden (the Netherlands), Parlevliet & van der Plas BV has cold stores where the cargo 

of the freezer trawlers are discharged and stored and from where international distribution 

takes place. In Harderwijk (the Netherlands) Parlevliet en van der Plas BV has a factory for 

processing herring and herring products. 8 

1.4.6 Parlevliet en van der Plas Haringhandel BV 

Parlevliet en van der Plas Haringhandel BV is based in Valkenburg. In 2008, the company 

generated revenues of € 11.0 million, resulting in a net profit of € 1.9 million. This company 

engages in the wholesale of herring. The raw material is partly coming from the company's 

own vessels and partly from British, Irish, Danish, French and Norwegian fishing vessels. 

The company sells its products in the Benelux, Germany and France. In 2008, about 70 per 

cent of the subsidiary’s profits are incurred in the Netherlands, and 19 per cent in Germany. 9 

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1.4.7 Sawad Food International BV 

This subsidiary sells pelagic fish products, purchased from group companies, in foreign 

markets. The bulk of the net sales are gained in Africa. In 2008, the company generated 

revenues of € 22.3 million, resulting in a net profit of € 0.5 million. In 2008, Sawad Food 

International BV has purchased the fish from group companies for a total price of € 19.4 

million. 10 

1.5 German subsidiaries 

A full list of the subsidiaries of Parlevliet en van der Plas can be found in Appendix 2. The 

most important German subsidiaries of the group, because they operate vessels or are 

important processing and trading subsidiaries, are summarized in Table 6. 

Table 6 German vessel owning and trading subsidiaries, 2008 data 

Subsidiary Revenues (€ mln) Profits (loss) (€ mln) 

Ostbank Hochseefischerei GmbH 12.3 0.0* 

Doggerbank Seefischerei GmbH 15.5 2.3 

Oderbank Hochseefischerei GmbH 15.5 0.0* 

Westbank Hochseefischerei GmbH 20.6 0.0* 

Euro Baltic Fishverarbeitungs GmbH 47.9 1.0 

German Seafrozen Fish Handelsgesellschaft GmbH 63.8 0.7 

Mecklenburger Hochseefischerei GmbH Unknown Unknown 

Ocean Food GmbH Unknown Unknown 

*Profit included in profit of Doggerbank Seefischerei 

The German subsidiaries of the group that are owning vessels and sell fish to other 

subsidiaries of the group are: 

• Doggerbank Seefischerei GmbH 

• Oderbank Hochseefischerei GmbH 

• Ostbank Hochseefischerei GmbH 

• Westbank Hochseefischerei GmbH 

• Mecklenburger Hochseefischerei GmbH 

• Ocean Food GmbH 


• Euro Baltic Fishverarbeitungs GmbH sales of group fish and external fish (mainly EU) 

• German Seafrozen Fish Handelsgesellschaft GmbH sales of deep sea fish (mainly EU) 

1.5.1 Doggerbank Seefischerei 

Doggerbank Seefischerei GmbH is based in Bremerhaven. The vessels of Parlevliet en van 

der Plas discharge their fish in the cold stores of Doggerbank. The total storage capacity of 

the coldstore is 15.000 mt. The goods are transported worldwide by trucks, reefer containers 

and reefer vessels. 11 

-8-

In addition, the company owns the vessel BX 791 Jan Maria. In 2008, a total of 4 trips were 

made with this vessel, catching 15,114 tonnes of fish (2007: 38,368 tonnes). The fishing 

days decreased from 209 fishing days in 2007 to 76 fishing days in 2008. 12 In 2008, the 

subsidiary generated total revenues of € 15.5 million. Through its profit transfer agreements 

(see Box 1), the company received € 7.6 million in this year. Net profit of the subsidiary was 

€ 2.3 million. 

In 2008, the company sold its fish to Germany (€ 2.4 million), other EU countries (€ 4.3 

million), and countries outside the EU (€ 8.8 million). 13 

At the end of December 2008, Doggerbank Seefischerei GmbH owned total assets of € 47.9 

million. These assets were mainly financed by intercompany loans (€ 25.8 million) and a loan 

provided by Rabobank of € 10.5 million (see paragraph 1.8). 

BOX: Profit transfer agreements 

A profit transfer agreement, a feature of German law, is a legal contract between two 

companies entering into a working relationship. Under the agreement, one company agrees 

to transfer its profits to another company. The profit transfer agreement is part of a 

consolidation between companies. The arrangement is essentially that of a parent company 

and subsidiary, in which the parent receives the profits of the subsidiary. The main reason 

for companies to enter into a profit transfer agreement is for the tax benefits that it 

produces. A profit transfer agreement allows the controlling company in the agreement to 

receive credit for the taxes that are paid for the controlled company. The agreement is also 

beneficial for tax reasons because it allows the parent company to consolidate its profits 

and losses. 

1.5.2 Westbank Hochseefischerei 

Westbank Hochseefischerei is based in Sassnitz, Germany. It is a 100% subsidiary of 

Doggerbank Seefischerei. The company owns the vessel ROS 171 Maartje Theadora. 

In 2008, total revenues of the subsidiary were € 20.6 million, of which € 17.3 million was 

generated by fish caught by the company’s own vessels and € 3.3 million by fish purchased 

from other companies. The company has a profit share agreement with Doggerbank. 14 

In 2008, Maartje Theadora undertook nine trips and caught a total of 42,581 tonnes of fish. 

There were 207 fishing days in this year. 15 

The ROS 171 Maartje Theadora is equipped with Skysail, a giant kite of 160m 2 that is aimed 

to reduce the use of fuel. The kite will be used on the trips to the African coast and South 

Pacific. 16 

1.5.3 Oderbank Hochseefischerei GmbH 

Oderbank Hochseefischerei GmbH is based in Sassnitz, Germany. It is a 100% subsidiary of 

Doggerbank Seefischerei. The purpose of the company is deep-sea fishing, the operation of 

fishing vessels, processing of fish on board, and the sale of fish and fish products. The 

company operates the vessel ROS 785 Helen Mary. 

In 2008, total revenues of the subsidiary were € 15.5 million. The company has a profit share 

agreement with Doggerbank. In 2008, the Helen Mary undertook 12 trips and caught of 

36,998 tonnes of fish. There were 225 fishing days in this year. The company has sailed for 

five months in the South Pacific. 17 

The sales of fish in 2008 per species were as follows: mackerel (€ 10.1 million), herring (€ 

2.6 million), blue whiting (€ 1.7 million), and horse mackerel (€ 1.0 million). 

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In 2009, Oderbank Hochseefischerei GmbH realised sales of € 14.9 million, by undertaking 9 

trips and catching 29,906 tonnes of fish: Mackerel (€ 6.2 million), herring (€ 3.2 million), jack 

mackerel (€ 3.5 million) and horse mackerel (€ 1.9 million). In 2009, the company sailed for 

six months in the South Pacific. 18 

At the end of December 2008, Oderbank Hochseefischerei GmbH owned total assets of € 

16.4 million. These assets were mainly financed by a loan outstanding with Rabobank of € 

14 million (see paragraph 1.8). 19 

1.5.4 Ostbank Hochseefischerei GmbH 

Ostbank Hochseefischerei GmbH is based in Sassnitz, Germany. It is a 100% subsidiary of 

Doggerbank Seefischerei. The purpose of the company is deep-sea fishing, the operation of 

fishing vessels, processing of fish on board, and the sale of fish and fish products. The 

company operates the vessel ROS 784 Dirk Dirk. 

In 2008, total revenues of the subsidiary were € 12.3 million, of which € 6.1 million was 

generated by sales in the Netherlands. The company has a profit share agreement with 

Doggerbank. In 2008, the Dirk Dirk undertook 14 trips and caught a total of 27,940 tonnes of 

fish. The exact amounts of catch per species are unknown. The company does report that its 

mackerel sales were € 3.3 million higher than the previous year, and that its horse mackerel 

sales were € 2.0 million higher. 20 

In 2009, the Dirk Dirk undertook 10 trips and caught a total of 17,016 tonnes of fish. The 

company realized revenues of € 7.7 million, which his significantly lower than in 2008. 

Especially the sales of herring (€-2.6 million), horse mackerel (€-0.6 million) and blue whiting 

(€-1.0 million) were much lower than in 2008. 21 

In October 2009, Ostbank Hochseefischerei GmbH sold its vessel ROS 784 Dirk Dirk. In 

2009, Parlevliet en van der Plas took over a fish processing company on the Faroe Islands 

and bought shares in a fishing company on the Faroe Islands of the Norwegian company 

Aker Biomarine (a biotechnology company specialised in Krill fishing and processing). The 

Dirk Dirk was reflagged to the Faroe Islands, renamed “KG 14 Naeraberg” and brought to the 

Faroe Islands. 22 

In December 2009 Ostbank Hochseefischerei GmbH acquired another vessel from a Dutch 

subsidiary of the Parlevliet and van der Plas group: ROS 170 Annie Hillina (see paragraph 

1.4.1). 

1.5.5 Mecklenburger Hochseefischerei GmbH 

Mecklenburger Hochseefischerei GmbH (MHF), is a 100 % subsidiary of Parlevliet en van 

der Plas since November 1998. MHF owns one trawler, ROS 786 Gerda Maria, specialized 

in catching and processing bottomfish, especially black halibut and redfish. The fishing 

grounds are in the Irminger Sea (southwest of Iceland), East- and West Greenland waters, 

but also off Canada and in the Barentz Sea. No information could be found on revenues and 

profits of this company. 23 

1.5.6 Ocean Food GmbH 

Ocean Food GmbH is based in Bremerhaven. The subsidiary owns the vessel BX 786 

Atlantic Peace, which fishes in the North Sea, Barents Sea, Bear Island, Spitzbergen, Faroer 

Islands, Iceland, Irminger Sea, Greenland East and West and Newfundland. 24 Ocean Food 

GmbH was only taken over by Parlevliet en van der Plas in January 2009. 25 Therefore, no 

revenues and profits of BX 786 Atlantic Peace are yet available. 

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1.5.7 Euro-Baltic Fischverarbeitungs 

Euro-Baltic Fischverarbeitungs GmbH is based in Sassnitz, Germany. The company is a 

100% subsidiary of Parlevliet & van der Plas Haringhandel BV. The Euro-Baltic fish 

processing centre, in which € 40 million was invested by the Parlevliet en van der Plas, is 

located in the port of Sassnitz-Mukran on the German island Rügen. The processing centre 

was set up because German fishing vessels were forced to sell their catch in Denmark and 

Holland for filleting, after which they were being transported back into Germany. The plant 

has the capacity to fillet about 50,000 tonnes of fish annually. 26 

Total revenues of Euro-Baltic Fischverarbeitungs GmbH in 2008 were € 47.9 million, which 

resulted primarily from the sale of finished goods from the group’s own production. The 

company generated revenues of € 38.6 million by selling fish caught by the group, the 

remainder of the revenues being accounted for by goods purchased from other parties. In 

2008, the company sold its fish in Germany (€ 24.2 million), other EU countries (21.3 million) 

and non-EU countries (€ 2.4 million). 27 

1.5.8 German Seafrozen Fish Handelsgesellschaft GmbH 

German Seafrozen Fish Handelsgesellschaft GmbH (GSF) is based in Bremerhaven. GSF is 

100% owned by of MHF. GSF was founded in 1999 and is responsible for the worldwide 

marketing of P&P‘s ground fish product range. The company is a commission agent for 

related companies Westbank Hochseefischerei, Nordbank Hochseefischerei and 

Warnemünder Hochseefischerei, and for external companies. In 2008, GSF generated 

revenues of € 63.7 million, resulting in a net profit of € 0.7 million. The subsidiary has 

concluded a profit-and loss transfer agreement with its parent company MHF, but because 

the profits of MHF are unknown, we attribute the profit to GSF. 

€ 25.1 million was accounted for by sales in Germany, € 23.7 million by sales in other EU 

countries and € 14.7 million by sales to non-EU countries. 28 

The GSF is trying to open up new markets for new products such as redfish and catfish 

(Vietnamese farmed fish). 29 

1.6 Other subsidiaries 

Three subsidiaries based in the United Kingdom, Norway and Lithuania also belong to 

Parlevliet en van der Plas: 

• Atlantic High Sea Fishing Company Lithuania 100% owned 

• Tronderbas AS Norway 40% owned 

• UK Fisheries Ltd UK 50% owned 

These subsidiaries all operate vessels. Each subsidiary is discussed below: 

1.6.1 Atlantic High Sea Fishing Company 

The Atlantic High Sea Fishing Company is located in Klaipeda, Lithuania. The subsidiary 

operates two vessels: The KL 749 Margiris and the KL 759 Nida. In 2008, Atlantic High Sea 

Fishing Company generated revenues of LTL 54.7 million (€ 15.7 million), resulting in a net 

profit of LTL 0.8 million (€ 0.2 million). 30 

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1.6.2 Tronderbas AS 

Tronderbas AS is based in Rørvik, Norway. It is a 40% subsidiary of Parlevliet en van der 

Plas. The other 60% is owned by the Norwegian Ulsund family. Tronderbas AS owns the 

vessel NT 500-V Tronderbas. In 2008, the company generated revenues of NOK 52.9 million 

(€ 5.3 million), resulting in a net profit of NOK 3.1 million (€ 0.3 million). 31 The NT 500-V 

Tronderbas sails in European waters. 32 

1.6.3 UK Fisheries Ltd 

UK Fisheries Ltd is based in Hull, the United Kingdom. UK Fisheries jointly owned by 

Onward Fishing Company, which is part of Icelandic sea food company Samherji hf, and 

Tory BV, a subsidiary of Parlevliet en van der Plas in the Netherlands. 33 

UK Fisheries operates three vessels through its subsidiaries Jacinta Ltd, Armana Ltd and 

Lionman Ltd: H 176 Arctic Warrior, H 771 Marbella and H 135 Farnella. In 2008, UK 

Fisheries Ltd and its subsidiaries generated total revenues of £ 16.0 million (€ 16.4 million), 

resulting in a net profit of £ 2.3 million (€ 2.4 million). The Farnella fishes in the North Sea 

and mainly catches saithe and Atlantic cod. The other two vessels are pelagic freezer 

trawlers. 34 

In December 2010, UK Fisheries acquired Spanish company Pesquera Ancora for € 20 

million. This company has three pelagic trawler vessels. The main reason for the acquisition 

is the fishing quota of Pesquera Ancora: 3,300 tonnes in the Barents Sea and Canada. 35 

1.7 Revenues and profits per subsidiary 

As discussed in paragraph 1.3, total revenues of the Parlevliet en van der Plas Group as 

specified in the annual report of PP Groep Katwijk BV were € 278 million in 2008.These 

revenues resulted in a profit of € 22.6 million. 

To understand where revenues and profits are generated and how all subsidiaries contribute 

to the total revenues of the group, it is crucial to group all subsidiaries in two groups: 

• Vessel owning subsidiaries 

• Trading and processing subsidiaries 

The vessel owning subsidiaries catch fish, which is then entirely sold to the trading and 

processing subsidiaries of the group. According to the annual reports of Parlevliet en van der 

Plas, the fish is sold based on the arm’s length principle, in which the price is equal to the 

price two unrelated parties would charge each other (the market price). These trading and 

processing subsidiaries add value to the fish they bought from the vessel owning subsidiaries 

of the group and from external suppliers, and then sell the fish to external buyers. This 

means that the consolidated revenue of the group is equal to the total of the revenues of the 

trading and processing subsidiaries. As the revenues of the vessel owning subsidiaries are 

realised by selling fish to the trading and processing subsidiaries of the group, their revenues 

are accounted as the cost of supplies for the trading and processing subsidiaries. In other 

words, when consolidating the revenues of all group subsidiaries, the revenues of the vessel 

owning subsidiaries “disappear” because they are realised by internal sales within the group. 

For consolidating profits, the calculation is different and more straightforward: the 

consolidated profit of the group equals the sum of the profits made by all subsidiaries. 

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We therefore take a look firsts at the revenues and profits of the vessel owning subsidiaries 

(see Table 7). In 2008, these subsidiaries together earned revenues of € 137.5 million by 

selling fish to the trading and processing companies mentioned in Table 8. Because they are 

realised by internal sales within the group, these revenues do not contribute to consolidated 

revenues of the group. 

The profits realised by the vessel owning subsidiaries amounted to € 5.6 million in 2008. Of 

this total profit, € 4.2 million can be attributed to the Parlevliet en der Plas Group, because 

the company only owns a minority interest in some subsidiaries. 

Table 7 Revenues and profits of vessel owning subsidiaries, 2008 data 3 

Subsidiary Vessel(s) 

Doggerbank 

Seefischerei 

UK Fisheries 

Atlantic High Sea 

Fishing Company 

Revenues 

(€ mln) 

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Profits 

(€ mln) 

Species Tonnes 

BX 791 Jan Maria 6.4 2.3** Unknown 15,114 

H 135 Farnella, H 771 

Marbella and H 176 

Arctic Warrior 

KL 749 Margiris and KL 

759 Nida 

Kilda KW 170 Annie Hillina 7.8 (0.4) 

Fladen Gronden KW 172 Dirk Diederik 10.1 0.3 

Vikingbank KW 174 Annelies Ilena 23.5 (0.9) 

Silver Pit BV 

KW 171 Maartje 

Theodora (until 2007) 

16.4 2.4 Unknown 38,881 

15.7 0.2 Unknown 37,221 

Horse mackerel, 

herring, mackerel 

Blue whiting, horse 

mackerel, herring, 

other 

Horse mackerel, 

blue whiting, 

mackerel 

18,492 

23,945 

55,714 

5.2 1.4 Unknown 12,328 

Tronderbas NT 500-V Tronderbas 5.3 0.3 Unknown 12,565 

Westbank 


Ostbank 


Oderbank 


Mecklenburger 


ROS 171 Maartje 

Theadora 

ROS 784 Dirk Dirk 12.3 0.0* 

ROS 785 Helen Mary 15.5 0.0* 

17.3 0.0* Unknown 42,581 

Mackerel, horse 

mackerel, herring, 

blue whiting 

Mackerel, herring, 

blue whiting, horse 

mackerel 

27,940 

36,998 

ROS 786 Gerda Maria 2.0 0.0 Unknown 4,741 

Total 137.5 5.6 326,520 

Share P&P (based on 50% ownership UK 

Fisheries and 40% ownership Trondenbas) 

126.1 4.2 307,079 

*Included in profit of Doggerbank Seefischerei ** includes profits of subsidiaries 

Estimates, based on average revenue per tonne of € 421.8 Estimate based on size ship 

3 The vessel Atlantic Peace is not included in this overview, because this vessel was acquired by 

Ocean Food GmbH in January 2009.

Table 8 demonstrates the total revenues per trading and processing subsidiary of the group. 

As these subsidiaries are the only ones selling to external buyers, their combined revenues 

equal the consolidated revenues of the group. Table 8 shows that their total revenues are a 

little higher (€ 298 million) than the consolidated revenues of PP Groep Katwijk BV (€ 278 

million). The difference is probably explained by a modest amounted of sales between 

trading subsidiaries. 

Table 8 Revenues and profits of processing and trading subsidiaries, 2008 data 

Subsidiary Based in Revenues (€ mln) Profits (€ mln) 

Parlevliet en van der Plas BV Netherlands 153.0 14.3 

Parlevliet en van der Plas Haringhandel BV Netherlands 11.0 1.9 

Sawad Food International BV Netherlands 22.3 0.5 

Euro-Baltic Fischverarbeitungs GmbH Germany 47.9 1.0 

German Seafrozen Fish Handelsgesellschaft 

GmbH 

Germany 63.8 0.7 

Total 298.0 18.4 

The Dutch trading subsidiaries account for around 63% of the sales of the Parlevliet en van 

der Plas group, while the German trading subsidiaries account for 37%. 

Of the total sales of € 298 million, around € 182 million (61%) is sold to customers in the EU, 

while € 116 million (39%) is sold to customers in non-EU countries. 

Table 8 shows that total profits of the trading subsidiaries in 2008 were € 18.4 million, while 

Table 7 showed that the vessel owning subsidiaries generated a profit of € 4.2 million. 

Together, the trading subsidiaries and the vessel owning subsidiaries made a profit of € 22.6 

million for the Parlevliet en van der Plas Group. This is equal to the amount indicated in the 

consolidated statements of PP Katwijk Groep BV. 

Figure 1 provides an overview of the amounts of revenues generated by the sale of fish to 

group companies of vessels under different flags. The figure shows that the vessels under 

German flag generate the highest amount of revenues for the group. 

An exact indication for profits per flag is not possible, because it is unknown which vessel 

sells to which trading centre. However, under the assumption that one tonne of fish, 

irrespective of the type of fish, generates a certain amount of profits, the indication as 

presented in Figure 1 can apply to profits as well. 

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Figure 1. Revenues from the sale of fish per flag, 2008 

Figure 1 does not take into account the partial ownership of Parlevliet en van der Plas in the 

vessels under Norwegian and UK flags. Taking this into account results in Figure 2. This 

figure shows that the share of revenues generated for Parlevliet en van der Plas by vessels 

under the UK and Norwegian flag decreases. 

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1.8 Loans 

Figure 2. Revenues from the sale of fish per flag, 2008 (share P&P) 

The following loans secured by companies in the Parlevliet en Van der Plas Group could be 

found: 

• Vikingbank BV has a loan outstanding with Rabobank (Netherlands) of € 35 million. This 

loan was secured in 2007 and has a maturity date of 2017. It has to be repaid in quarterly 

payments of € 875,000, starting June 2007. The loan is secured by a mortgage on the 

ship owned by the subsidiary: Annelies Ilena. 36 

• In December 2005, Doggerbank Seefischerei and Oderbank, two German subsidiaries of 

Parlevliet en van der Plas, secured a € 35 million loan from Rabobank (Netherlands). The 

loan to Doggerbank Seefischerei amounted to € 15 million, of which at the end of 

December 2008 € 10.5 million was outstanding. The loan to Oderbank amounted to € 20 

million, of which at the end of December 2008 € 14 million was outstanding. The maturity 

date of the loan is 2015. The loan is secured by mortgages on the ships owned by the 

subsidiaries: Jan Maria (Dogger Bank) and Helen Mary (Oderbank). 37 

• In 2009, German subsidiary Ocean Food GmbH & Co. KG entered into a € 4.1 million loan 

with ING Bank (Netherlands). 38 

• WHF, MHF, GSF and Dogger Bank have a joint liability, in the form of credit lines with 

ABN AMRO Bank (Netherlands) taken as a current account (€ 1.4 million), guarantees (€ 

0.4 million) and letters of credit (€ 0.5 million). 39 ABN AMRO was acquired in 2007 by a 

consortium led by Royal Bank of Scotland (RBS), including Fortis Group of Belgium and 

Banco Santander of Spain. It is uncertain if the liability of the Parlevliet en van der Plas 

subsidiaries is still with the present ABN Amro bank, or with RBS. 

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Chapter 2 Cornelis Vrolijk/Jaczon 


The Cornelis Vrolijk/Jaczon group was established in November 2005, when a merger took 

place between Cornelis Vrolijk and Jaczon, two important pelagic freezer companies from 

the Netherlands. Shareholders of Jaczon sold a 100% interest in Scheveningen-based 

Jaczon BV to Cornelis Vrolijk Holding from IJmuiden. Initially, relying on sources dating back 

to the time of the takeover, the companies were supposed to remain operating as separate 

companies. However, information on one of the Cornelis Vrolijk websites show further 

integration of Jaczon assets in Cornelis Vrolijk, as it lists vessels (formally) belonging to the 

Jaczon fleet as its own. 

From the first of January 2009, both companies have further integrated their activities by 

establishing a combined trade company called Cornelis Vrolijk BV. 40 

The fishing fleet of Cornelis Vrolijk/Jaczon consists of 12 freezer-trawlers, operated by 

subsidiaries based in the Netherlands, France and the United Kingdom. The group also owns 

and operates cold stores, trading offices, factories and own transport, which are based in the 

Netherlands. 41 

An overview of the corporate structure of the Cornelis Vrolijk/Jaczon group, outlining the 

relationships that exist between the different subsidiaries discussed in this chapter, is 

presented in Appendix 1. 

This chapter is organised as follows: Paragraph 2.2 will provide an overview of the fleet of 

the company. Paragraph 2.3 will give the amount of revenues generated by the group as a 

whole. Paragraph 2.4 will provide more details on the most important Dutch subsidiaries of 

the group, and paragraph 2.5 will discuss the most important foreign subsidiaries of the 

group. Paragraph 2.6 gives a summary of the revenues and profits of the most important 

subsidiaries. Paragraph 0 provides a brief overview of other subsidiaries of the group. 

Finally, paragraph 2.8 sheds light on bank loans provided to Cornelis Vrolijk/Jaczon over the 

past few years. 

2.2 Fleet 

Table 9 presents an overview of the fleet of Cornelis Vrolijk/Jaczon. The group owns 12 

vessels, of which six carry a Dutch flag, two carry a UK flag, three carry a French flag and 

one carries an Irish flag. 

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Vessel Flag Subsidiary 

Table 9 Fleet of Cornelis Vrolijk/Jaczon 

SCH 81 Carolien Dutch Cornelis Vrolijks Visserij Maatschappij Diepzee IV BV 

SCH 72 Frank Bonefaas Dutch Cornelis Vrolijks Visserij Maatschappij Diepzee II BV 

SCH 24 Afrika Dutch Jaczon Visserijmaatschappij Afrika BV 

SCH 123 Zeeland Dutch Jaczon Visserijmaatschappij Zeeland BV 

SCH 22 Wiron 5 Dutch Jaczon Visserijmaatschappij Wiron BV 

SCH 23 Wiron 6 Dutch Jaczon Visserijmaatschappij Wiron BV 

H 171 Cornelis Vrolijk Fzn UK North Atlantic Fishing Co. Ltd 

H 90 Atlantic Princess UK Valiant Trawlers Ltd 

FC 716900 Prins 

Bernhard 

French France Pelagique S.a.r.l. (90%) and other subsidiaries 

FC 716630 Scrombrus French France Pelagique S.a.r.l. 

FC 716999 Sandettie French France Pelagique S.a.r.l. (10%) and other subsidiaries 

SO 117 Johanna Maria Irish 

Jaczon Visserijmaatschappij Johanna Maria BV (with Atlantic 

Dawn) 

Although online sources, including the website of Cornelis Vrolijk, indicate that the FC- 

716999 Sandettie is owned by France Pelagique, in its annual report of 2009 this subsidiariy 

mentions that it only owns 10% of the vessel. It is unknown which subsidiary owns the 

remaining 90%. According to the website shipspotting.com with data from October 2010, the 

vessel is owned by Klipper S.a.r.l. and France Pelagique S.a.r.l. However, in its annual report 

of 2009, Klipper does not mention anything about this vessel. 42 

According to the SOMO report, H-108 Westella and the pair-trawlers Wiron 1 and 2 (PH-110 

and PH-220) also belong to the fleet of the group. However, the H-108 Westella was sold to 

Norwegian company Austevoll in 2008, and the Wiron 1 and 2 trawlers belong to Interfish 

Wirons Ltd. These companies are (to our knowledge) not owned by Cornelis Vrolijk/Jaczon. 43 

2.3 Revenues 

Consolidated accounts of the merged Cornelis Vrolijk/Jaczon group are not (yet) available. 

The most recent accounts of Cornelis Vrolijk Holding BV (before the takeover) of 2004 

indicate that the company generated revenues of € 83.9 million, resulting in a net profit of € 

1.5 million. The most recent accounts of Jaczon BV for the financial year 2004/2005 (1 June 

2004-31 May 2005) indicate that this company generated revenues of € 128.9 million, 

resulting in a net loss of € 3.4 million. The company also specifies its revenues and profits in 

the period 1 June 2005-31 December 2005; in this period, the company generated revenues 

of € 101.7 million and a profit of € 13.0 million. 44 Profits ranged substantially for the Jaczon 

group before the merger, so it is difficult to provide a reliable estimate. 

This brings the total annual revenues before the merger of the Cornelis Vrolijk/Jaczon group 

to around € 210 million. 

The next paragraphs will discuss a range of vessel owning and trading subsidiaries of 

Cornelis Vrolijk/Jaczon, and provide details of their most recent financial accounts. In this 

way, a more complete picture of the recent revenues and profits of the merged group is 

presented. 

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2.4 Dutch subsidiaries 

2.4.1 Introduction 

The Dutch subsidiaries of the Cornelis Vrolijk/Jaczon group that own vessels and sell fish to 

other subsidiaries of the group are: 

• Cornelis Vrolijks Visserij Maatschappij Diepzee II BV 

• Cornelis Vrolijks Visserij Maatschappij Diepzee IV BV 

• Jaczon Visserijmaatschappij Afrika BV 

• Jaczon Visserijmaatschappij Johanna Maria BV 

• Jaczon Visserijmaatschappij Wiron BV 

• Jaczon Visserijmaatschappij Zeeland BV 


• Cornelis Vrolijk’s Visserij Maatschappij BV 

• Jaczon Visgroothandel BV 

Until 2009, these trading subsidiaries continued to operate separately. It is likely that the 

vessel owning subsidiaries of (former) Jaczon BV supply their fish to Jaczon Visgroothandel 

BV and that the vessel owning subsidiaries of (former) Cornelis Vrolijk supply their fish to 

Cornelis Vrolijk’s Visserij Maatschappij BV. However, from the first of January 2009 Jaczon 

Visgroothandel BV and Cornelis Vrolijk’s Visserij Maatschappij BV have integrated their 

activities in a new trade company: Cornelis Vrolijk BV. The sales offices of both companies 

remain on separate locations. 

No accounts for Cornelis Vrolijk BV have been released yet, so therefore the trading 

subsidiaries are discussed separately, using 2008 data. 

An overview of the corporate structure of the Cornelis Vrolijk/Jaczon group, including the 

subsidiaries mentioned above, is presented in Appendix 1. 

The Dutch vessel owning and fish trading subsidiaries are discussed below: 

2.4.2 Cornelis Vrolijks Visserij Maatschappij Diepzee II BV 

Cornelis Vrolijks Visserij Maatschappij Diepzee II BV is based in IJmuiden and owns the 

vessel SCH 72 Frank Bonefaas. According to the annual report of 2006 of Cornelis Vrolijks 

Visserij Maatschappij Diepzee II, this vessel fishes in European waters. The subsidiary sells 

its fish to a sister company, probably Cornelis Vrolijks Visserij Maatschappij BV. In 2009, 

Cornelis Vrolijks Visserij Maatschappij Diepzee II BV realized a net profit of € 1.4 million. The 

net profit for 2008 was € 2.5 million. Revenues of the subsidiary are unknown. 45 

2.4.3 Cornelis Vrolijks Visserij Maatschappij Diepzee IV BV 

Cornelis Vrolijks Visserij Maatschappij Diepzee IV BV is based in IJmuiden and owns the 

vessel SCH 81 Carolien. According to the company’s annual report of 2006, the vessel fishes 

solely in Mauritania. The subsidiary sells its fish to a sister company, probably Cornelis 

Vrolijks Visserij Maatschappij BV. In 2009, Cornelis Vrolijks Visserij Maatschappij Diepzee IV 

BV realized a profit of € 0.7 million, after four years of losses (2005: loss of € 3.1 million, 

2006: loss of € 3.1 million, 2007: loss of € 0.2 million, 2008: loss of € 1.6 million). The 

revenues of the subsidiary are unknown. 46 

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2.4.4 Jaczon Visserijmaatschappij Afrika BV 

Jaczon Visserijmaatschappij Afrika BV is based in The Hague and owns the vessel SCH 24 

Afrika. The activity of this subsidiary is fishing in international waters, and selling the fish to 

group companies (probably Jaczon Visgroothandel BV). In 2008, this subsidiary generated 

revenues of € 9.0 million, resulting in a net loss of € 0.8 million. In 2007, the subsidiary 

generated revenues of € 10.7 million, resulting in a net profit of € 0.4 million. 47 

2.4.5 Jaczon Visserijmaatschappij Johanna Maria BV 

Jaczon Visserijmaatschappij Johanna Maria BV is based in The Hague and owns the vessel 

SO 117 Johanna Maria. The activity of this subsidiary is fishing in international waters and 

selling the fish to group companies (probably Jaczon Visgroothandel BV). The most recent 

year for which accounts could be found is 2004. In this year, the company realized revenues 

of € 8.2 million, resulting in a net loss of € 0.6 million. 48 

2.4.6 Jaczon Visserijmaatschappij Zeeland BV 

Jaczon Visserijmaatschappij Zeeland BV is based in The Hague and owns the vessel SCH 

123 Zeeland. The activity of this subsidiary is fishing in international waters and selling the 

fish to group companies (probably Jaczon Visgroothandel BV). No recent profit and loss 

statements could be found for this company. The most recent year for which accounts could 

be found is 2004. In this year, the company realized revenues of € 8.4 million, resulting in a 

net profit of € 0.9 million. 49 

2.4.7 Jaczon Visserijmaatschappij Wiron BV 

Jaczon Visserijmaatschappij Wiron BV is based in The Hague. The subsidiary owns the 

vessels SCH 22 Wiron 5 and SCH 23 Wiron 6. The activity of this subsidiary is fishing in 

international waters, and selling the fish to group companies (probably Jaczon 

Visgroothandel BV). In 2008, Jaczon Visserijmaatschappij Wiron BV generated revenues of 

€ 5.4 million, resulting in a net loss of € 1.0 million. 50 

2.4.8 Cornelis Vrolijk’s Visserij Maatschappij BV 

Cornelis Vrolijk’s Visserij Maatschappij BV is based in IJmuiden. This subsidiary engages in 

the sale of fish and fish products, supplied by group companies. In 2006, the company 

generated revenues of € 78.4 million, resulting in a net profit of € 9.9 million. In 2007 (the 

most recent year for which data are available), the company generated revenues of € 80.4 

million, resulting in a net profit of € 11.7 million. 51 In 2006, the sales of the company per 

country/region were: 52 

• Africa € 49.5 million 63.1% 

• EU excluding the Netherlands € 14.6 million 18.6% 

• Asia € 9.4 million 12.0% 

• Middle- and South America € 1.6 million 2.0% 

• Netherlands € 0.5 million 0.6% 

• Australia € 0.5 million 0.6% 

• Other Europe € 2.2 million 2.8% 

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2.4.9 Jaczon Visgroothandel BV 

Jaczon Visgroothandel BV is based in The Hague. The subsidiary engages in the processing 

and trading of fish and fish products, purchased from group companies. In 2008, the 

subsidiary realised revenues of € 101.0 million, resulting in a net profit of € 16.8 million. Of 

these revenues, € 31.7 million were generated by selling fish to related companies. In 2008, 

the revenues of the company per region were: 53 

• Non-EU countries € 85.0 million 84.2% 

• EU excluding the Netherlands € 11.5 million 11.4% 

• Netherlands € 4.4 million 4.4% 

2.5 Foreign subsidiaries 


The most important foreign subsidiaries of Cornelis Vrolijk/Jaczon, which own vessels and 

sell fish to other subsidiaries of the group are: 

• France Pelagique S.a.r.l. France 

• North Atlantic Fishing Co United Kingdom 

• Valiant Trawlers United Kingdom 

These subsidiaries are discussed below: 

2.5.2 France Pelagique S.a.r.l. 

France Pelagique S.a.r.l. owns the following vessels: 

• FC 716630 Scrombrus 100% 

• FC 716900 Prins Bernhard 90% 

• FC 716999 Sandettie 10% 

It is unknown which subsidiary owns the remaining 90% of Sandetti and the remaining 10% 

of Prins Bernhard. According to the website shipspotting.com with data from October 2010, 

the FC 716999 Sandettie is owned by Klipper S.a.r.l. and France Pelagique S.a.r.l. However, 

in its annual report of 2009, Klipper does not mention anything about this vessel. 54 

In 2009, France Pelagique generated revenues of € 20.6 million, resulting in a net loss of € 

6.0 million. In 2008, the revenues of the company were € 16.2 million, resulting in a loss of € 

4.6 million. In 2007 the net loss was € 1.6 million. 55 

The company sells its fish to group companies. In its annual report of 2008, France 

Pelagique mentions sales to Jaczon of € 6.9 million and sales to Cornelis Vrolijk of € 8.8 

million. The company mentions that in 2008, the vessel Prins Bernhard realised sales of € 

2.2 million, resulting in a net loss of € 4.6 million (share France Pelagique). This huge loss 

was mainly due to the fact that the vessel had been taken out of service in May 2007 for 

modernisation, and has only been returned to service in July 2008. The vessel Scrombus 

realised sales of € 6.9 million and a net profit of € 34,000. The Sandettie realised sales of € 

7.1 million and a net loss of € 17,000 (share France Pelagique). 56 

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In 2009, France Pelagique mentions sales to Jaczon of € 6.7 million and sales to Cornelis 

Vrolijk of € 10.8 million. Again, the Prins Bernhard vessel has been very unprofitable. The 

ship had dry-docked in June and July 2009, because the freezing system had to be replaced. 

The Prins Bernhard vessel realised sales of € 5.3 million, resulting in a net loss of € 5.6 

million (share France Pelagique). The Scrombus realised sales of € 5.8 million and a net 

profit of € 0.3 million. The Sandetti realised sales of € 7.0 million and a net loss of € 7,866 

(share France Pelagique). 57 

The subsidiary mentions in its annual report of 2008 that the vessel Prins Bernhard continues 

to be operating in Mauritanian waters. The unloading of its catch is made either at the port of 

Nouadhibou (Mauritania) or at the port of Las Palmas (Canary Islands). 58 

2.5.3 North Atlantic Fishing Co 

North Atlantic Fishing Co Ltd, based in the United Kingdom, operates the vessel H 171 

Cornelis Vrolijk Fzn. In its annual report of 2009, North Atlantic Fishing Co mentions that this 

vessel takes advantage of EU fishing agreements with West African states. In 2009, North 

Atlantic Fishing Co generated revenues of € 12.9 million, resulting in a net loss of € 0.2 

million. The company attributes this loss to high fuel costs in the beginning of 2009 and some 

poor fishing in Mauritania in May and June 2009. In 2008, the company generated revenues 

of € 10.2 million and a net profit of € 0.3 million. 59 

2.5.4 Valiant Trawlers 

Valiant Trawlers Ltd, based in the United Kingdom, operates the vessel H 90 Atlantic 

Princess. In 2009, this vessel operated 200 sea-days, which the company mentions is a 

relatively low amount, due to repairs. In 2009, the company generated revenues of € 8.1 

million, resulting in a net profit of € 0.4 million. In 2008, the company generated revenues of 

€ 8.4 million and profits of € 0.5 million. 60 


Table 10 presents an overview of the most recent revenues and profits of the most important 

trading subsidiaries of Cornelis Vrolijk/Jaczon. The table shows that the total annual 

revenues of these subsidiaries are around € 180 million, resulting in substantial profit: € 28.5 

million in the most recent years. 

As will be discussed in paragraph 2.7, it is possible that Cornelis Vrolijk/Jaczon has other 

trading subsidiaries as well. 

Table 10 Revenues and profits of processing and trading subsidiaries (most recent 

year) 

Subsidiary Based in Data for Revenues (€ mln) Profit (€ mln) 

Cornelis Vrolijk’s Visserij 

Maatschappij BV 

Netherlands 2007 80.4 11.7 

Jaczon Visgroothandel BV Netherlands 2008 101.0 16.8 

Total 181.4 28.5 

Of the revenues of the subsidiaries mentioned in Table 10, only € 31 million (17.1%) is 

generated by sales to customers in the EU. A very large share of revenues are generated in 

Africa. The exact percentage as well as more details about which African countries are 

important markets for the fish of the group are unknown. 

-22-

Table 11 provides an overview of the revenues and profits of the vessel owning subsidiaries. 

These subsidiaries together earn annual revenues of around € 90 million by selling fish to the 

companies mentioned in Table 10 (and possibly also other trading subsidiaries). 4 This 

estimate is however not perfectly reliable, because it is based for some subsidiaries on data 

from 2004. The loss which resulted from these activities was € 4.5 million, mainly caused by 

the huge loss incurred by France Pelagique S.a.r.l. 

Table 11 Revenues and profits of vessel owning subsidiaries (most recent year) 

Subsidiary Vessel(s) Flag Data 

for 

Cornelis Vrolijks Visserij 

Maatschappij Diepzee IV BV 


Maatschappij Diepzee II BV 

Jaczon Visserijmaatschappij 

Afrika BV 


Zeeland BV 


Wiron BV 

-23- 

Revenues 

(€ mln) 

Profit (loss) 

(€ mln) 

SCH-81 Carolien NL 2009 9.0 0.7 

SCH-72 Frank Bonefaas NL 2009 9.0 1.4 

SCH-24 Afrika NL 2008 9.0 (0.8) 

SCH-123 Zeeland NL 2004 6.9 0.9 

SCH-22 Wiron 5 and SCH- 

23 Wiron 6 

NL 2008 5.4 (1.0) 

North Atlantic Fishing Co Ltd H-171 Cornelis Vrolijk Fzn UK 2009 12.9 (0.2) 

Valiant Trawlers Ltd H-90 Atlantic Princess UK 2009 8.1 0.4 

France Pelagique S.a.r.l. (and 

other subsidiaries) 

France Pelagique S.a.r.l. (and 

other subsidiaries) 

FC-716900 Prins Bernhard FR 2009 5.3 (5.6) 

FC-716630 Scrombrus FR 2009 5.8 0.3 

France Pelagique S.a.r.l. FC-716999 Sandettie FR 2009 7.0 0.0 


Johanna Maria BV (with 

Atlantic Dawn) 

SO-117 Johanna Maria IR 2004 8.2 (0.6) 

Total 86.6 (4.5) 

Estimate based on the size of the ship and the profits 

Combining the profit data of the vessel owning subsidiaries and the trading subsidiaries 

leads to an estimate of € 181.4 million revenues and € 24 million profits for the most recent 

year. However, as argued above, this estimate is not perfectly reliable because it uses dates 

as old as 2004. 

Figure 3 provides an indication of the amounts of revenues generated by the sale of fish to 

group companies of vessels under different flags. The figure shows that the vessels under 

Dutch flag generate the highest amount of revenues for the group. The vessels under UK 

and French flags also account for a significant share of revenues. 

An exact indication for profits per flag is not possible. However, under the assumption that 

one tonne of fish, irrespective of the type of fish, generates a certain amount of profits, the 

indication as presented in Figure 3 can apply to profits as well. 

4 According to the annual reports of Cornelis Vrolijk/Jaczon, the fish is sold based on the arm’s length 

principle, in which the price is equal to the price two unrelated parties would charge each other (the 

market price).


Figure 3. Revenues from the sale of fish per flag 5 

Next to the subsidiaries mentioned in the previous paragraphs, the Cornelis Vrolijk/Jaczon 

group owns a range of other Dutch and foreign subsidiaries, which are not engaged in 

owning the vessels of the group and are not the most important trading subsidiaries of the 

group. However, some of these subsidiaries can still be important. 

The subsidiaries are owned through two subsidiaries of Cornelis Vrolijk/Jaczon: Jaczon BV 

and Vroko International Holding BV. 

2.7.1 Jaczon BV 

Cornelis Vrolijk/Jaczon owns a range of subsidiaries directly through Jaczon BV (see 0) and 

indirectly through subsidiaries of Jaczon BV (see Appendix 4). P/F Northwest Pacific (Faroe 

Islands), Jade Fisheries Partnership (Ireland) and Irish Pelagic Ltd (Ireland) for example, are 

indirectly owned by Jaczon BV through subsidiary Jaczon Trawler Visserij BV (Netherlands). 

It is unknown what the activities of all these subsidiaries are, and how important they are for 

Cornelis Vrolijk/Jaczon. It seems like some subsidiaries (like Jac. Den Dulk en Zonen BV) 

engage in trading activities and some subsidiaries (like Western Pacific Tuna company NV) 

engage in fishing activities other than pelagic trawling. A more detailed analysis of these 

subsidiary would require more research. 

2.7.2 Vroko International Holding 

Vroko International Holding is jointly owned by E.J. Koppers Holding BV (50%) and Cornelis 

Vrolijk Holding BV (50%). Vroko International Holding has the following subsidiaries: 61 

• Vroko Star I BV Netherlands 100% 

• Vroko Star II BV Netherlands 100% 

• Vroko Star III BV Netherlands 100% 

• Vroko Star IVBV Netherlands 100% 

• Vroko Star V BV Netherlands 100% 

5 Based on data of the most recent year for all subsidiaries 

-24-

• Vroko Star VI BV Netherlands 100% 

• Vroko Star VII BV Netherlands 100% 

• Prim7Stars BV (Primstar BV) Netherlands 100% 

• Vrokolux SARL Luxembourg 100% 

• Vroko Star BV Netherlands 100% 

• Caledonian Servicos Internacionais LDA Madeira Portugal 100% 

• Star Trade SA Luxembourg 50% 

• Atlantic Shrimpers Ltd Nigeria 50% 

• China Starfish International Limited Hong Kong 41% 

• China Starfish Co. Limited China 41% 

• Grupo Pecis S.A. de C.V. Mexico 30% 

One of these companies, Primstar BV, which is a Dutch registered (and Hendrik Ido Ambacht 

based) 100% subsidiary of Vroko International Holding BV, is the exclusive marketer and 

distributor of the products that are produced, packed, and exported by Atlantic Shrimpers Ltd 

in Nigeria. According to the Primstar website, Atlantic Shrimpers Limited is the largest fishing 

company in Nigeria, and arguably in West Africa. With over 1,250 employees, the company 

exports close to 4,000 metric tons of high value of seafood to Primstar BV per annum for 

worldwide distribution. Atlantic Shrimpers Limited catches shrimps, crab, cuttlefish, red 

mullet, lobster, and octopus using modern shrimp trawlers. Nearly 85% of the exported 

quantity consists of shrimp. 62 

In 2009, Primstar BV realised profits of € 0.5 million. 63 

A more detailed analysis of the subsidiaries mentioned above would require more research. 

2.8 Loans 

The following information could be found on bank loans provided to subsidiaries of Cornelis 

Vrolijk/Jaczon: 

• Valiant Trawlers Ltd, a subsidiary of Cornelis Vrolijk/Jaczon, mentions ABN AMRO Bank 

(Netherlands) and Royal Bank of Scotland (United Kingdom) as its principal bankers. 64 

• In 2009, France Pelagique S.a.r.l., a subsidiary of the Cornelis Vrolijk/Jaczon group, had a 

€ 3.6 million loan outstanding with ABN AMRO Bank (Netherlands). The loan has a 

maturity date of 2017. 65 

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Chapter 3 Willem van der Zwan en Zonen 


Willem van der Zwan en Zonen is a family-owned company that has been active in the 

fishing industry since 1888. The main office of Willem van der Zwan en Zonen is located in 

Scheveningen (the Hague). 

The fishing fleet of Willem van der Zwan en Zonen consists of five freezer-trawlers, operated 

by subsidiaries based in the Netherlands. The group also owns trading subsidiaries based in 

the Netherlands. Willem van der Zwan en Zonen does not seem to own cold store facilities or 

own transportation for its products. 

An overview of the corporate structure of the Willem van der Zwan en Zonen group, outlining 

the relationships that exist between the different subsidiaries discussed in this chapter, is 

presented in Appendix 1. 

This chapter is organised as follows: Paragraph 3.2 provides an overview of the fleet of the 

company. Paragraph 3.3 discusses the revenues and profits generated by the group over the 

past few years. Paragraph 3.4 provides more information on the most important subsidiaries 

of the group. Paragraph 3.5 gives a summary of the revenues and profits of the most 

important subsidiaries. Paragraph 3.6 briefly discusses other subsidiaries of the group. 

Paragraph 3.7 provides information on the bank loans that have been provided to the group 

over the past few years. 

3.2 Fleet 

Table 12 presents an overview of the fleet of Willem van der Zwan en Zonen group. The 

group owns five vessels. 

Table 12 Fleet of Willem van der Zwan en Zonen 

Vessel Flag Subsidiary 

SCH 6 Alida NL W. Van der Zwan Zonen Visserij Maatschappij B.V. 

6 A.Z. Pelagic Fisheries BV (since recently: Pelagic 

SCH 54 Franziska NL/Peru 

Fishing Group SAC) 

SCH 303 Ariadne NL W. Van der Zwan Zonen Visserij Maatschappij B.V. 

SCH 333 Oceaan VII NL A.Z. Ocean Fisheries II B.V. 

SCH 302 Willem van der Zwan NL 

A.Z. Ocean Pelagic Fisheries BV (since 2009: Afrex 

Fisheries) 

Source: Annual reports of all subsidiaries, websites Cornelis Vrolijk and Jaczon. 

The vessel SCH 302 Willem van der Zwan experienced a major fire at the start of 2007. 

While some parts of this vessel were completely destroyed, Willem van der Zwan en Zonen 

decided to completely renovate the vessel. At the end of 2009 the vessel was fully restored 

and ready to fish again. The vessel will be transferred to the subsidiary Afrex Fisheries BV. 

Total investments for rebuilding the ship were € 38.6 million in 2008 and € 22.8 million in 

2009. 66 

6 In February 2010 renamed FRANZISKA 8802997 and changed to Peruvian flag because the vessel 

went fishing in Peru (Scheepsruilbeurs Nieuwsbrief 164, 10 April 2010). See more information in 

paragraph 3.6.3. 

-26-

In February 2009 the vessel SCH Alida also suffered a fire. Although not as big as the fire in 

the SCH-302 Willem van der Zwan, it took until September 2009 until the vessel was ready 

to fish again. 67 

3.3 Revenues 

Data in financial reports of Willem van der Zwan en Zonen on the years 2006-2009 show that 

revenues of the company have varied. Profits went down considerably in the four years. This 

is probably (partly) due to the fact that fires in two vessels led to significant costs of repair 

and lower catch. 

Table 13 Revenues and profits of Willem van der Zwan en Zonen 

Year Revenues (€ mln) Profits (€ mln) 

2006 93.2 21.0 

2007 74.7 18.4 

2008 77.7 10.3 

2009 74.3 6.3 

Source: Willem van der Zwan en Zonen BV, “Financieel jaarverslag”, Willem van der 

Zwan en Zonen BV, January 2011; Brauw, C. and van der Wal, S., “The Pelagic 

Freezer Trawler Association: An assessment of activities in and outside Europe”, 

SOMO, June 2010. 

3.4 Most important subsidiaries 

The Dutch subsidiaries of the Willem van der Zwan en Zonen group that own vessels and 

sell fish to other subsidiaries of the group are: 

• AZ Ocean Fisheries II BV 

• AZ Ocean Pelagic Fisheries BV 

• AZ Pelagic Fisheries BV 

• W. Van der Zwan Zonen Visserij Maatschappij BV 

• Since end 2009: Afrex Fisheries BV 

In addition, the following company is a major processing/trading subsidiary: 

• W. van der Zwan en Zonen BV 

All subsidiaries are based in The Hague. 

Appendix 1 provides an overview of the corporate structure of the group. The subsidiaries 

are discussed below: 

3.4.1 AZ Ocean Fisheries II BV 

This subsidiary owns the vessel SCH 333 Oceaan VII. The revenues of this subsidiary are 

unknown. In 2009, the subsidiary incurred a loss of € 0.7 million. 68 

-27-

3.4.2 AZ Ocean Pelagic Fisheries BV 

AZ Ocean Pelagic Fisheries BV until 2007 owned the vessel SCH 302 Willem van der Zwan. 

This vessel suffered a major fire in January 2007 (see paragraph 3.2). Therefore, the most 

recent profit and loss account for this subsidiary is of the year 2006. In this year, the 

subsidiary reported a loss of € 1.2 million. 69 

AZ Ocean Pelagic Fisheries BV mentions in its annual report of 2007 that the SCH 302 

Willem van der Zwan vessel was completely destroyed after the fire. However, at the end of 

2009 the vessel was completely restored and ready to fish again. 70 The vessel will now 

probably continue under the operation of subsidiary Afrex Fisheries BV (see paragraph 

3.4.5). 71 

3.4.3 AZ Pelagic Fisheries BV 

This subsidiary until recently owned the vessel SCH 54 Franziska. This vessel was sold to 

Iceland by the group but bought back in 2007, when the major fire in the SCH 302 Willem 

van der Zwan took place. 72 The revenues of this subsidiary are unknown. In 2009, the 

subsidiary reported a loss of € 1.8 million. In 2008, the subsidiary reported a loss of € 6.4 

million. 73 

Recently, the SCH-54 Franziska was sold to Peruvian group company Pelagic Fishing Group 

(see paragraph 3.6.3). The vessel now fishes under the Peruvian flag. 

3.4.4 W. Van der Zwan Zonen Visserij Maatschappij BV 

This subsidiary owns the vessels SCH 6 Alida and SCH 303 Ariadne. The revenues of this 

subsidiary are unknown. In 2009, the subsidiary incurred a loss of € 1.6 million. 74 

3.4.5 Afrex Fisheries BV 

In 2009, this subsidiary owned machinery, installations and ships of € 60.8 million. These 

assets result from the complete rebuilding of the vessel SCH 302 Willem van der Zwan, 

which burned down in January 2007. In 2009, this subsidiary realised a loss of € 1.9 million. 75 

3.4.6 W. van der Zwan en Zonen BV 

In 2009, trading company W. van der Zwan en Zonen BV generated revenues of € 70.9 

million by selling fish. The net profit of the subsidiary was € 12.6 million. In 2008, the 

company generated revenues of € 74.2 million, resulting in a net profit of € 14.5 million. 76 


As mentioned in paragraph 3.3, total revenues of Willem van der Zwan en Zonen in 2009 

were € 74.3 million, and profits were € 6.3 million. 

Table 14 provides an overview of the revenues and profits of the most important trading 

subsidiary of the group. The revenues of this subsidiary in 2009 were € 3.4 million lower than 

the total revenues generated by the group. Part of the remaining revenues are generated by 

W.Z. Canaria BV (see paragraph 3.6.2). 

The profits of this subsidiary in 2009 were much higher than the total profits generated by the 

group. This is because many vessel owning subsidiaries and other subsidiaries incurred 

losses in this year. 

-28-

Table 14 Revenues and profits of processing and trading subsidiaries 

Subsidiary Based in Data for Revenues (€ mln) Profit (€ mln) 

W. van der Zwan en Zonen BV Netherlands 2009 70.9 12.6 

Total 70.9 12.6 

Table 15 provides an overview of the profits of the vessel owning subsidiaries of Willem van 

der Zwan en Zonen. 7 Revenues of these subsidiaries are unknown. Together, these 

subsidiaries generated a loss of € 5.3 million in the most recent year for which data were 

available. This partly explains why the profit of W. van der Zwan en Zonen BV is much higher 

than the group profit. 

Table 15 Profits of vessel owning subsidiaries before changes in ownership 

Subsidiary Vessel(s) Flag 

W. Van der Zwan Zonen Visserij 

Maatschappij B.V. 

SCH-6 Alida, SCH-303 

Ariadne 

-29- 

Data 

for 

Profit 

(loss) 

NL 2009 (1.6) 

A.Z. Pelagic Fisheries BV SCH-54 Franziska NL 2009 (1.8) 

A.Z. Ocean Fisheries II B.V. SCH-333 Oceaan VII NL 2009 (0.7) 

A.Z. Ocean Pelagic Fisheries BV 

SCH-302 Willem van der 

Zwan 

NL 2006 (1.2) 

Total (5.3) 



In addition to the subsidiaries mentioned in the previous paragraphs, three other 

subsidiaries, which own interests in foreign subsidiaries of the group, are: 

• W.Z. Canaria BV 

• Trachurus BV 

• Biomarine BV 

3.6.2 W.Z. Canaria BV 

This trading subsidiary is based in The Hague. The subsidiary has a 99.8% interest in the 

Nigerian company African Fish Nigeria Limited. In 2009, W.Z. Canaria BV generated net 

revenues (revenues minus costs of goods sold) of € 1.7 million, resulting in a net profit of € 

2,799. 77 

3.6.3 Trachurus BV 

Trachurus BV owns 99% of the foreign subsidiary Pelagic Fishing Group SAC in Peru. This 

foreign subsidiary was very recently acquired by the group, probably in 2009 or 2010. 78 

7 According to the annual reports of Willem van der Zwan en Zonen, the fish is sold based on the 

arm’s length principle, in which the price is equal to the price two unrelated parties would charge each 

other (the market price).

Online sources indicate that Pelagic Fishing Group recently (in 2008 or 2009) disbursed US$ 

35 million (€ 22 million) for the purchase of a boat that has a storage capacity of 4,000 MT. 79 

It is likely that concerns the Franziska vessel of the Willem van der Zwan en Zonen group 

which has been reflagged to Peru recently. Sources, including Peruvian institute Instituto 

Tecnológico Pesquero, confirm this. 80 

3.6.4 Biomarine BV 

While not certain, when looking at the company structure of the Willem van der Zwan en 

Zonen group it is likely that Biomarine BV owns 90% of the foreign subsidiary Friogha 

Limited, based in Ghana. The annual report of Biomarine BV does not contain any useful 

information or confirm this information. 

3.7 Loans 

The following information could be found on bank loans provided to subsidiaries of the 

Willem van der Zwan en Zonen group: 

• In its annual report of 2007, AZ Ocean Pelagic Fisheries mentions that it has a green loan 

(‘Groenlening’) outstanding with ABN AMRO Bank (Netherlands). The outstanding 

amount at the end of December 2007 was € 2.7 million. 81 

• In its annual report of 2009, Willem van der Zwan en Zonen Holding, the ultimate parent 

company of the group, indicates that it has loans outstanding with financial institutions of € 

36.5 million, compared to € 14.9 million in 2008. In addition, the group mentions that it has 

€ 7.7 million green loans (‘Groenleningen’) outstanding. 82 

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Chapter 4 Further research – fuel costs 

To come to an estimate of fuel costs for the pelagic freezer trawler companies, specified 

information from three subsidiaries of Parlevliet en van der Plas can be used. 

Table 16 presents an overview of the fuel costs incurred by Kilda BV, Fladen Gronden BV 

and Vikingbank BV in 2007 and 2008. 

Table 16 Fuel costs of Kilda BV, Fladen Gronden BV and Vikingbank BV 

Vessel Owner 

ROS 170 Annie 

Hillina 

KW 172 Dirk 

Diederik 

KW 174 Annelies 

Ilena 

-31- 

2007 2008 

€ % total costs € % total costs 

Kilda BV 1,315,657 22.9 1,624,847 19.7 

Fladen Gronden BV 1,861,911 19.4 2,301,512 23.4 

Vikingbank BV 4,318,692 24.0 4,744,619 22.2 

Source: Kilda BV, “Annual Report 2008”, Kilda BV, November 2009; Fladen Gronden 

BV, “Annual Report 2008”, Fladen Gronden BV, November 2009; Vikingbank BV, 

“Annual Report 2008”, Vikingbank BV, November 2009. 

An estimate of the fuel costs for the whole fleet of the different companies could use these 

percentages of total costs as an approximation. A more detailed estimate would use the data 

mentioned above complemented with information about engines, yearly routes and fishing 

days etc.

Appendix 1 Corporate structure of the companies 

Key: 

Light grey = holding subsidiary 

Medium grey = vessel owning subsidiary 

White with stripes = trading subsidiary 

Dark grey = other activities/dormant subsidiary 

-32-

Parlevliet en van 

der Plas Beheer 

B.V. 

(Netherlands) 

100% 

J. Marr (Fishing) Ltd 

(UK) 

Parlevliet en van 

der Plas Rusland 

B.V. (Netherlands) 

Rederij 

Samenwerking II B.V. 


Vikingbank B.V. 


Fladen Gronden B.V. 


Parlevliet en Van der 

Plas B.V. 


Rona B.V. 


Silver Pit B.V. 


Kilda B.V. 


Tory B.V. 


50% 

UK Fisheries Ltd 

(UK) 

100% 100% 

Boyd Line Ltd (UK) 

100% 

100% 

100% 

Lionman Ltd (UK) 

Armana Ltd (UK) 

Jacinta Ltd (UK) 

Rederij 

Samenwerking I. 


Tronderbas AS 

(Norway) 

Doggerbank 

Seefischerei GmbH 

(Germany) 

100% 

94% 

28% 

PP Groep Katwijk B.V. 


100% 

-33- 

100% 

Parlevliet en Van 

der Plas Faeröer 


Atlantic High Sea 

Fishing Company 

(Lithuania) 

Ostbank 


GmbH (Germany) 

Oderbank 


(Germany) 

Nordbank 

Hochseefischer 

(Germany) 

C. C.H. Bösch GmbH 

(Germany) 

Warnemünder 


Gmbh (Germany) 

Westbank 



Rockall Seefischerei 


Ocean Food 

Beteiligungs GmbH 

(Germany) 

Ocean Food GmbH 

& Co KG (Germany) 

P & P Kühlhaus 


Seefrostvertrieb 


100% 

Parlevliet en van der 

Plas Vastgoed B.V. 


100% 

Mecklenburger 



100% 

German Sea Frozen 

Handelsgesellschaft 


Sawad Food 

International B.V. 


Ouwehand 

Visverwerking B.V. 


Frigo 2000 IJmuiden 


Parlevliet en van der 

Plas Haringhandel 


100% 

Rostocker 



100% 

Euro Baltic 

Fishverarbeitungs 


Key 


Medium grey = vessel owning 

subsidiary 

Dark grey = other activities/dormant 

subsidiary 

White with stripes = trading subsidiary


Maatschappij Diepzee II BV 



Maatschappij Diepzee IV BV 


Cornelis Vrolijk's Visserij 

Maatschappij B.V. 


100% 

North Atlantic (Holdings) 

Limited (UK) 

100% 

Valiant Trawlers Limited (UK) 

100% 

100% 

100% 

E.J. Koppers Holding BV 


50% 

Vroko International Holding BV 


50% 

Cornelis Vrolijk Holding BV 


100% 

France Pelagique S.a.r.l. 

(France) 

North Atlantic Fishing Co (UK) 

-34- 

30-100% 

100% 

Jaczon BV (Netherlands) 

100% 

Several subsidiaries based in 

Portugal, Luxembourg, 

Nigeria, Hong Kong, China, 

Mexico 

Several subsidiaries based in 

Germany, France, Latin 

America, North America 

10-100% 

Jaczon Visgroothandel BV 


Jaczon Visserij Maatschappij 

Afrika BV (Netherlands) 

Jaczon Visserij Maatschappij 

Wiron BV (Netherlands) 


Johanna Maria BV 



Zeeland BV (Netherlands) 

Key 




subsidiary 


100% 

100% 

AZ Fisheries Holding BV 


Willem van der Zwan en 

Zonen Holding BV 


100% 

AZ International BV 


W. van der Zwan en Zonen 

BV (Netherlands) 

W. Van der Zwan Zonen 

Visserij Maatschappij B.V. 


A.Z. Ocean Fisheries II B.V 


A.Z. Ocean Pelagic Fisheries 

BV (Netherlands) 

A.Z. Pelagic Fisheries BV 


-35- 

100% 

AZ Fisheries Vastgoed 

Holding BV (Netherlands) 

99.8% 

WZ Canaria BV (Netherlands) 

African Fish Company Nigeria 

Ltd (Nigeria) 

Trachurus BV (Netherlands) 99.0% 

Pelagic Fishing Group SAC 

(Peru) 

90.0% 

Biomarine BV (Netherlands) 

Friogha Ltd (Ghana) 

Key 




subsidiary 


Appendix 2 Subsidiaries of Parlevliet en van der Plas 

-36-

Appendix 3 Direct subsidiaries of Jaczon BV 

-37-

Appendix 4 Indirect subsidiaries of Jaczon BV 

-38-

Appendix 5 Subsidiaries Willem van der Zwan en Zonen 

-39-

Appendix 6 References 

1 Parlevliet en van der Plas BV, “History”, Website Parlevliet en van der Plas BV (http://www.parlevlietvanderplas.nl/history.php), 

Visited in March 2011. 

2 Kilda BV, “Annual Report 2008”, Kilda BV, November 2009. 

3 Ostbank Hochseefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2009 bis zum 

31.12.2009”, Ostbank Hochseefischerei GmbH, May 2010. 

4 Fladen Gronden BV, “Annual Report 2008”, Fladen Gronden BV, November 2009. 

5 Vikingbank BV, “Annual Report 2008”, Vikingbank BV, November 2009. 

6 Silver Pit BV, “Annual Report 2008”, Silver Pit BV, November 2009. 

7 Parlevliet & van der Plas BV, “Annual Report 2008”, Parlevliet & van der Plas BV, November 2009. 

8 Parlevliet & van der Plas BV, “Establishments”, Website Parlevliet & van der Plas BV (http://www.parlevlietvanderplas.nl/establishment.php), 


9 Parlevliet en van der Plas Haringhandel BV, “Annual Report 2008”, Parlevliet en van der Plas Haringhandel 

BV, November 2009; Parlevliet & van der Plas BV, “Establishments”, Website Parlevliet & van der Plas BV 

(http://www.parlevliet-vanderplas.nl/establishment.php), Visited in March 2011. 

10 Sawad Food International, “Annual Report 2008” , Sawad Food International, November 2009. 



12 Doggerbank Seefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Doggerbank Seefischerei GmbH, May 2009. 



14 Westbank Hochseefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Westbank Hochseefischerei GmbH, May 2009. 

15 Westbank Hochseefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Westbank Hochseefischerei GmbH, May 2009. 

16 Brauw, C. and van der Wal, S., “The Pelagic Freezer Trawler Association: An assessment of activities in 

and outside Europe”, SOMO, June 2010. 

17 Oderbank Hochseefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Oderbank Hochseefischerei GmbH, May 2009. 











23 Mecklenburger Hochseefischerei GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Mecklenburger Hochseefischerei GmbH, May 2009. 


Visited in March 2011; Ocean Food, “About us”, Website Ocean Food 

(http://www.oceanfood.de/frames.htm), Visited in March 2011. 

25 Visserij Nieuws, “BX 786 Nieuwe aanwinst P&P”, Visserij Nieuws, 13 January 2009, available at 

http://visserijnieuws.punt.nl/?id=415376&r=1&tbl_archief=& 

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27 Euro-Baltic Fischverarbeitungs GmbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 bis zum 

31.12.2008”, Euro-Baltic Fischverarbeitungs GmbH, May 2009. 

28 German Seafrozen Fish Handelsgesellschaft mbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 

bis zum 31.12.2008”, German Seafrozen Fish Handelsgesellschaft mbH, May 2009. Parlevliet & van der 

Plas BV, “Establishments”, Website Parlevliet & van der Plas BV (http://www.parlevlietvanderplas.nl/establishment.php), 


29 German Seafrozen Fish Handelsgesellschaft mbH, “Jahresabschluss zum Geschäftsjahr vom 01.01.2008 

bis zum 31.12.2008”, German Seafrozen Fish Handelsgesellschaft mbH, May 2009. Parlevliet & van der 

Plas BV, “Establishments”, Website Parlevliet & van der Plas BV (http://www.parlevlietvanderplas.nl/establishment.php), 


30 Atlantic High Sea Fishing Company UAB, “Profit And Loss Account 2008”, Atlantic High Sea Fishing 

Company UAB, June 2009. 

31 Trønderbas AS “Årsregnskapet For Regnskapsåret 2009 - Generell Informasjon (Annual Report 2009)”, 

Trønderbas AS, June 2010. 

32 Ivan Ulsund AS, “Catching areas”, Website Ivan Ulsund (www.ivanulsund.no/), Visited in March 2011. 

33 UK Fisheries Ltd, “Annual Return”, UK Fisheries Ltd, September 2009. 

34 Enever, R., “Northern North Sea Saithe (and Cod) “A self-sampling project”, Fisheries Science Partnership, 

2008/2009. 

35 Visserijnieuws.nl, “P&P koopt Spaanse rederij”, Visserijnieuws.nl, 25 December 2010. 

36 Vikingbank BV, “Annual Report 2008”, Vikingbank BV, November 2009. 



38 Ocean Food GmbH & Co. KG, “Jahresabschluss zum Geschäftsjahr vom 01.01.2009 bis zum 31.12.2009”, 

Ocean Food GmbH & Co. KG, May 2010. 





41 Cornelis Vrolijk, “Fleet”, Website Cornelis Vrolijk (www.cornelisvrolijk.eu/index.php?id=3&parent=3), Visited 

in March 2011. 

42 Shipspotting.com, “FC-716999 Sandettie - IMO 8012085”, Website Shipspotting.com 

(www.shipspotting.com/gallery/photo.php?lid=1201032), Visited in March 2011; Klipper S.a.r.l., “Annual 

Report 2009”, Klipper S.a.r.l., August 2010. 

43 Interfish Limited, “Annual Return”, Interfish Limited, March 2009; Visserijnieuws.nl, “H 108 ‘Westella’ 

verkocht naar Peru”, Visserijnieuws.nl, 20 October 2008. 

44 Jaczon BV, “Annual Report 2005”, Jaczon BV, March 2007. 

45 Diepzee Visserij Mij. Cornelis Vrolijk II BV, “Vennootschappelijke jaarrekening over 2008”, Diepzee Visserij 

Mij. Cornelis Vrolijk II BV, 2009; Diepzee Visserij Mij. Cornelis Vrolijk II BV, “Vennootschappelijke 

jaarrekening over 2009”, Diepzee Visserij Mij. Cornelis Vrolijk II BV, 2010. 

46 Diepzee Visserij Mij.Cornelis Vrolijk IV BV, “Meest recente vennootschappelijke jaarrekeningen”, Diepzee 

Visserij Mij.Cornelis Vrolijk IV BV, 2010; Diepzee Visserij Mij.Cornelis Vrolijk IV BV, “Publicatiestukken 

2006”, Diepzee Visserij Mij.Cornelis Vrolijk IV BV, January 2008. 

47 Jaczon Visserij Maatschappij Afrika BV, “Publicatiestukken 2008”, Jaczon Visserij Maatschappij Afrika BV, 

February 2010. 

48 Jaczon Visserij Maatschappij Johanna Maria BV, “Vennootschappelijke jaarrekening over 2004”, Jaczon 

Visserij Maatschappij Johanna Maria BV, 2005. 

49 Jaczon Visserij Maatschappij Zeeland BV, “Vennootschappelijke jaarrekening over 2004”, Jaczon Visserij 

Maatschappij Zeeland BV, 2005; Jaczon Visserij Maatschappij Zeeland BV, “Publicatiestukken 2009”, 

Jaczon Visserij Maatschappij Zeeland BV, February 2011. 

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50 Jaczon Visserij Maatschappij Wiron BV, “Publicatiestukken 2008”, Jaczon Visserij Maatschappij Wiron BV, 

February 2010. 

51 Cornelis Vrolijk’s Visserij Maatschappij BV, “Jaarstukken 2006”, Cornelis Vrolijk’s Visserij Maatschappij BV, 

May 2008. 

52 Cornelis Vrolijk’s Visserij Maatschappij BV, “Vennootschappelijke voorlopige jaarrekening over 2007”, 

Cornelis Vrolijk’s Visserij Maatschappij BV, 2008. 

53 Jaczon Visgroothandel BV, “Publicatiestukken 2009”, Jaczon Visgroothandel BV, February 2011. 

54 Shipspotting.com, “FC-716999 Sandettie - IMO 8012085”, Website Shipspotting.com 

(www.shipspotting.com/gallery/photo.php?lid=1201032), Visited in March 2011; Klipper S.a.r.l., “Annual 

Report 2009”, Klipper S.a.r.l., August 2010. 

55 France Pelagique, “Annual Report 2009”, France Pelagique, June 2010. 

56 France Pelagique, “Annual Report 2008”, France Pelagique, May 2009. 

57 France Pelagique, “Annual Report 2009”, France Pelagique, June 2010. 

58 France Pelagique, “Annual Report 2008”, France Pelagique, May 2009. 

59 North Atlantic Fishing Co, “Annual Report 2009”, North Atlantic Fishing Co, July 2010. 

60 Valiant Trawlers, “Annual Report 2009”, Valiant Trawlers, July 2010. 

61 Vroko International Holding BV, “Annual Report 2009”, Vroko International Holding BV, February 2011. 



63 Primstar BV, “Annual Report 2009”, Primstar BV, February 2011. 

64 Valiant Trawlers, “Annual Report 2009”, Valiant Trawlers, July 2010. 

65 France Pelagique, “Annual Report 2008”, France Pelagique, May 2009; France Pelagique, “Annual Report 

2009”, France Pelagique, June 2010. 

66 Afrex Fisheries BV, “Deponeringsstukken 2009”, Afrex Fisheries BV, January 2011. 

67 Blankwaard, P., “Gerenoveerde SCH 6 Alida opgeleverd”, Koopvaardij, 19 September 2009, available at 

http://koopvaardij.web-log.nl/koopvaardij/2009/09/gerenoveerde-sc.html; Visserijnieuws.nl, “Grote brand 

SCH 6 bij scheepswerf Reimerswaal”, Visserijnieuws.nl, 14 February 2009. 

68 A.Z. Ocean Fisheries II BV, “Deponeringsstukken 2009”, A.Z. Ocean Fisheries II BV, January 2011. 

69 A.Z. Ocean Pelagic Fisheries BV, “Deponeringsstukken 2007”, A.Z. Ocean Pelagic Fisheries BV, October 

2008. 

70 Visserijnieuws.nl, “Herbouwde SCH 302 sterker teruggekomen”, Visserijnieuws.nl, 7 November 2009. 

71 Kingdom of the Netherlands, “SECTION VIII. Fishery products, Freezing Vessel”, Kingdom of the 

Netherlands, available at http://www3.vwa.nl/EULijst%20SECTION%20VIII-Fishery%20products- 

Freezing%20vessel.pdf 

72 Visserijnieuws.nl, “Herbouwde SCH 302 sterker teruggekomen”, Visserijnieuws.nl, 7 November 2009. 

73 AZ Pelagic Fisheries BV, “Deponeringsstukken 2009”, AZ Pelagic Fisheries BV, January 2011. 

74 Visserij Mij W. van der Zwan & Zonen BV, “Deponeringsstukken 2009”, Visserij Mij W. van der Zwan & 

Zonen BV, January 2011. 

75 Afrex Fisheries BV, “Deponeringsstukken 2009”, Afrex Fisheries BV, January 2011. 

76 W. van der Zwan en Zonen BV, “Financieel jaarverslag 2009”, W. van der Zwan en Zonen BV, January 

2011. 

77 W.Z. Canaria BV, “Deponeringsstukken 2009”, W.Z. Canaria BV, January 2011. 

78 Trachurus BV, “Deponeringsstukken 2009”, Trachurus BV, January 2011. 

79 El Comercio, “Peru - Pelagic Fishing Group replantea expansión”, El Comercio, 23 March 2009; Aqua, 

“Pelagic Fishing Group invertirá US$ 35 millones en Perú”, Aqua, 8 July 2008, available at 

http://www.aqua.cl/noticias/imprimir_noticia.php?doc=25114 

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80 Instituto Tecnológico Pesquero, “Permiso De Pesca De Embarcaciones”, Website Instituto Tecnológico 

Pesquero (http://www.itp.gob.pe/autorizaciones-licencias/2010/permisos-a.php), Visited in March 2011. 

81 A.Z. Ocean Pelagic Fisheries BV, “Deponeringsstukken 2007”, A.Z. Ocean Pelagic Fisheries BV, October 

2008. 

82 Willem van der Zwan en Zonen Holding BV, “Financieel jaarverslag 2009”, Willem van der Zwan en Zonen 

Holding BV, January 2011. 

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