Fate Of H&W To Come Next Week

Tuesday, August 29, 2000
Harland and Wolff will await the outcome of arbitration next week with a major customer before deciding the fate of the Belfast shipyard. Harland and Wolff's owners, Norwegian offshore group Fred Olsen Energy, said last week the yard was at risk because of a dispute over a final 23 million pound ($33.78 million) payment for a deepwater drill ship. Talks with U.S. rig owner Global Marine, which ordered the drillship, are scheduled to take place in London for three days beginning September 5. On Tuesday, Harland and Wolff said it would do all it could to secure the shipyard's future. "They (management and board) have decided however that no decision can be taken regarding the yard's future prior to the arbitration hearings," the company said in a statement. The arbitration procedure marks another twist in the yard's fortunes. In May, the company's future looked secure after it won a provisional order worth more than $350 million to build two luxury cruise liners. That followed orders for four passenger ferries worth a total $450 million. But it is struggling to keep the yard working at capacity before those orders come on stream. In June it said it was laying off 280 workers.

Maritime Today


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

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

Shipbuilding

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed

Keel Laying for Russia's Second Nuclear Icebreaker

Today the Baltic Shipyard in St Petersburg (part of United Shipbuilding Corporation) laid the keel of Ural, Project 22220’s second series-produced nuclear icebreaker.

 
 
Maritime Contracts Maritime Standards Pipelines Port Authority Salvage Ship Electronics Ship Simulators 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: 0.0734 sec (14 req/sec)