Kvaerner Sells Singapore Yard

Friday, June 09, 2000
Kvaerner officials announced the company will sell its Kvaerner Fjellstrand shipyard in Singapore to Dutch firm Damen Shipyards Group. The sale will mean a slight accounting loss for Kvaerner, but it will be within the scope of the provisions made in 1999, officials said. No price was given for the sale.

Kvaerner charged $459.7 million in provisions for 1999 linked to the restructuring and an extra 750 million in January 2000.

Kvaerner decided last year to sell all its 13 shipyards and sold the sister yard, Kvaerner Fjellstrand in Norway, in February 2000. It still has to sell major yards in Philadelphia and Warnow, Germany.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

Kleven Wins New Yacht Contract

Norwegian ship builder Kleven has secured a new contract for a high specification, 116-metre long Expedition Support Vessel. The order is placed by Mr Graeme Hart,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Winch
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: 0.1302 sec (8 req/sec)