Kvaerner Sells Norwegian Shipyard

Monday, October 11, 1999
Kvaerner sold its Leirvik AS shipyard in Norway to a unit of Saevik Holding AS. Kvaerner, which plans to quit shipbuilding by the end of 1999 as part of a thorough restructuring, said the yard had 300 employees and annual turnover of about 500 million Norwegian crowns ($65.06 million). It did not give terms of the deal. "The economic result of the sale will be clear when the sale is completed, probably during November," officials said. The sale comprises Kvaerner's yard in Leirvik, west Norway, along with existing construction contracts for three combined icebreakers and supply vessels. Kvaerner, aiming to return to profit after huge losses, has sold two other shipbuilding yards so far -- Govan in Scotland and Kleven in Norway. It has about eight ship-building units left to sell, including ones in the U.S. and Finland.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Cruise Ship Trends

China Homeport for Latest Giant RCI Cruise Ship

Royal Caribbean International says that its latest cruise ship, 'Quantum of the Seas', will make its home port in Shanghai (Baoshan), China The ship will reposition to China in May 2015,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Cruise Industry Disappointed by Findings of Critical LMU Report

New research by the UK's Leeds Metropolitan University (LMU) claims the cruise industry is ignoring its responsibility to the environments and societies it visits.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0732 sec (14 req/sec)