Aker Yards, Damen Finalize Agreement

Friday, August 04, 2006
Aker Yards and Damen Shipyards Group have finalized the process of establishing joint ownership of the Damen Shipyards Okean. The plans involve increasing the output capacity of the yard to 60,000 tons per year. The Okean yard will be able to build a variety of large merchant vessels, as well as steel sections for all the three business areas of Aker Yards. The construction of the Damen portfolio including the series of cargo vessels for the Ukrainian owners will be continued. Aker Yards will manage the yard, and will in addition to the existing projects, primarily focus the group's production of merchant vessels. The operations will be consolidated into Aker Yards accounts as from the date of closing. Aker Yards has paid $12.8m in cash. Additional payments will depend on the future performance of the yard. Aker Yards will also assume or procure repayment of $14m of debt. The joint venture will initially have an order book of 11 vessels, to a value of $38.6m. The yard consists of two production lines, the largest one having a dry dock 354x60x14 m deep. The yard in Okean has approximately 3,000 employees.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2052 sec (5 req/sec)