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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1476 sec (7 req/sec)