Aker Yards and Damen Plan Joint Venture

Friday, June 02, 2006
Aker Yards and Damen Shipyards Group are planning to establish a joint venture owning the Damen Shipyards Okean yard in Mykolayiv, Ukraine. The plans will contribute to an increased steel- and shipbuilding capacity of Aker Yards. The Okean yard is able to build a variety of vessels, steel sections for all the three business areas of Aker Yards, as well as the existing Damen range of vessels. Karl Erik Kjelstad, CEO & President of Aker Yards states in a comment: "This planned cooperation meets Aker Yards strategy to increase its steel and shipbuilding capacity." Rene H. Berkvens, CEO of Damen Shipyards Group emphasizes that the product range of Aker Yards matches very well with the capacities of the Okean yard and for that reason this is a very valuable cooperation. For Aker Yards ownership share it will pay EUR 10 million cash at closing. Further payments will be dependent on financial performance of the yard. Other terms and outstanding conditions are to be settled before the transaction is closed. The transaction is subject to approval by relevant governmental authorities and settlement of other outstanding conditions.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

The Odd Trio - HMM, Maersk and MSC

In one of the more bizarre twists in the container shipping market it emerged last week that financially troubled carrier South Korean Hyundai Merchant Marine

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

Contracts

Diana Shipping Enters Contract with SwissMarine

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels,

UAE Top Court: Physical Bunkers Suppliers Have No Right to Recourse against Owners/Charterers

The OW saga - UAE Federal Supreme Court decides that physical suppliers of bunkers have no right to recourse against Owners/Charterers. In the first decision

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Port Authority Ship Repair 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: 0.0804 sec (12 req/sec)