Kvaerner Says

Wednesday, July 07, 1999
Although international engineering and industrial giant Kvaerner is anxious to divest itself of its shipbuilding operations, the company is refusing to sell shipyards simply for the sake of selling them, recently rejecting a bid for its Govan shipyard in Scotland. Kvaerner said a $1.57 million bid by General Electric Co. Plc's defense and shipbuilding unit Marconi Electronic Systems was disappointing and had to be rejected. Kvaerner, Europe's biggest shipbuilder, announced in April its planned withdrawal from shipbuilding and the loss of 25,000 jobs after posting its first losses in more than 30 years. Kvaerner has 13 shipyards spread through the U.S., Singapore, Russia, Norway, Finland and Germany

Shipbuilding

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

Croatia’s Jadrolinija to Buy New Passenger Ship

Croatia’s  largest national passenger shipping company Jadrolinija plans to expand its fleet with a new passenger ship, with the total cost of about 50 million euros, reports Poslovni.

Cruise Ship Trends

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

Vard Bags Hapag-Lloyd Cruises contract for 2 Vessels

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that it has secured contracts

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.

 
 
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