Russian Shipbuilding Consolidates

Tuesday, August 23, 2005
According to a report on RIA Novosti, Russian shipbuilding is undergoing a round of consolidation, and the aim apparently could be a shipbuilding giant, this following the sale of a significant share packet, a popular business daily, Biznes, reported.

Biznes wrote that the IST Group's sale of 88.2% of the Baltiisky Zavod shipyard to the United Industrial Corporation meant a merger between Baltiisky Zavod and rival Severnaya Verf could happen in the long term.

One source in reported that the deal was political, to complete a military order for two destroyers for China.

The Federal Industry Agency called the deal an important stage in creating a single integrated organization in military shipbuilding. It appears the consolidation is much like that in the U.S., with two enterprises bringing together different but compatible capabilities: Baltiisky Zavod reportedly has machine-building capacities, and is designed to build big ships, while Severnaya Verf is designed to build medium-sized and small ships.

Maritime Today


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

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

Shipbuilding

Damen Delivers Floating Pump Station to Hamburg

Hamburg Port Authority (HPA) has taken delivery of the Sauger III, a custom floating pump station by Damen Shipyards Group for supporting dredging operations. Situated

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Strategic Marine Building Luxury Crewboat

Strategic Marine announced the kick-off of its first collaboration with PT. Pelayaran Tanjung Kumawa, expecting to deliver an exclusive luxury crewboat in November this year.

Salvage

Freighter Runs Aground in Lake Superior

The U.S. Coast Guard informs it is continuing to monitor and respond to the 833-foot U.S. cargo vessel Roger Blough, which ran aground Friday afternoon on Gros

Wedding Cruise Ship Runs Aground in Boston

The Boston Harbor Cruises' Majesty ran aground in Boston Harbor on Saturday. All 137 passengers were unharmed and transferred to the Asteria, another Boston Harbor Cruises vessel, according to the U.

Details El Faro's Sinking Emerge from US Probe

U.S. investigators on Friday concluded two weeks of hearings into the sinking of cargo ship El Faro in a hurricane last fall that included reports the vessel had

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1154 sec (9 req/sec)