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Thursday, January 18, 2018

Kvaerner Masa News

Kvaerner Masa-Yards Releases First Quarter Results

The Kvaerner Group has published its first quarter 2002 results. Kvaerner Masa-Yards' business operations contributed to the Group results with an operating profit of $16 million. Kvaerner Masa-Yards' operating revenues for the period were $2,431 million. At the end of March, the unrecognized sales value of the orderbook was 1.3 billion. The operating profit of Kvaerner Masa-Yards Inc. according to Finnish Accounting Standards (FAS) was slightly higher than the figure reported by the Kvaerner Group for Kvaerner Masa-Yards. "The results of Kvaerner Masa-Yards for the beginning of this year shows that our productivity improvement program proceeds successfully.

Aker Yards to Lengthen RCL’s Enchantment of the Seas

Royal Caribbean International Ltd. and Kvaerner Masa-Yards Inc. have agreed on a revitalization project, including a midbody lengthening, for the luxury cruise ship M/S Enchantment of the Seas. The project has been developed by Kvaerner Masa-Yards Inc.'s Customer Service Division. The midbody will be built at Kvaerner Masa-Yards in Turku and the lengthening will take place between mid-May and early July 2005 while the cruise ship is being drydocked at the Keppel Verolme Shipyard in Rotterdam. The contract value for Kvaerner Masa-Yards is some €40-45 million.

New Board at Kvaerner Masa-Yards

A new Board of Directors has been elected for Kvaerner Masa-Yards Inc.. Chairman: Leif-Arne Langøy (President and CEO, Aker Kvaerner Yards AS) Members: Jorma Eloranta (President and CEO, Kvaerner Masa-Yards Inc.), Karl Erik Kjelstad (Executive Vice President, Aker Kvaerner Yards AS), Oddvar Slettevold (Executive Vice President, Aker Kvaerner Yards AS) and Trond Ø. Westlie (Chief Financial Officer, Kvaerner ASA). Aarne Ukkola and Jorma Malinen continue as representatives of the personnel.

Rautaruukki Gets Order For Kvaerner Masa-Yards Project

Rautaruukki Oyj will to deliver 25,000 tonnes of shipbuilding plate to Kvaerner Masa-Yards Oy. Rautaruukki will begin delivering the steel in April to Masa-Yards' shipyards in Helsinki and Turku, Finland. Kvaerner Masa-Yards agreed in December to build a ferry that can carry 2,800 passengers for Norwegian cruise operator Color Line A/S. The ferry, with a gross tonnage of 74,600 tonnes is expected to be delivered in December 2004. The ferry will be built at the Masa-Yards shipyard in Turku.

New Board at Kvaerner Masa-Yards

A new board of directors has been elected at Kvaerner Masa-Yards, Inc. Hans Petter Finne, executive vice president of Kvaerner ASA, has been appointed as the chairman of the board. The members of the board include: Jorma Eloranta, president and CEO of Kvaerner Masa-Yards; Finn Berg-Jacobsen, CFO of Kvaerner ASA; and Richard Petrie, executive vice president of Kvaerner Investments. Aarne Ukkola and Jorma Malinen continue as representatives of the personnel.

New Board Member Appointed for Kvaerner Masa-Yards

Kvaerner Masa-Yards Inc.. Niemi, a Finnish citizen, has broad Finnish and international industry experience. During the years 1989-1997 he was Managing Director and Member of the Board of the Finnish Guarantee Board. Countries. services in Investment and Development Finance. "We at Kvaerner Masa-Yards are very pleased to have Mr. board," said Jorma Eloranta, President and CEO of Kvaerner Masa-Yards. Trond Ø.

Piikkio Works Established Under Kavaerner-Masa Yards

A separate company, Piikkio Works Oy, has been established under Kvaerner Masa-Yards Inc. as a result of transfer of assets. The new company continues as of January 1, 2002, the operations of Kvaerner Masa-Yards Piikkio Works, which previously was a separate business unit within Kvaerner Masa-Yards Inc. The reason for incorporating the company is the independent and different nature of Piikkio Works business activities as a builder of prefabricated cabin and bathroom modules. Kari Ruusunen, previously manager of the business unit, has been appointed president of Piikkio Works Oy. Jorma Wloranta, president and CEO of Kvaerner Masa-Yards Inc., is named as chairman of the board of the new company.

Kvaerner Group Ceases Sale Of Kvaerner Masa-Yards

The Kvaerner Group has decided to stop the progress of the present sale of Kvaerner Masa-Yards. While Kvaerner's long-term business strategy is to leave the shipbuilding industry, Kvaerner will focus on upgrading the performance of the yard to increase profits. Organizational changes will include the appointments of a new CEO and CFO, and the current chief executive of Masa-Yards, Martin Sarrikangas is slated to retire.

Kvaerner Masa-Yards Releases Financial Results

January-September 2003. and a net sales of EUR 625 million (4.930 MNOK). increased by 10,7%. period of 2002. Eloranta, President and CEO of Kvaerner Masa-Yards. "In September 2003 Kvaerner Masa-Yards and Royal Caribbean Cruises Ltd. 2006, the Ultra Voyager. have seen in 2002 and 2003," continued Jorma Eloranta.

Kvaerner Masa-Yards Signs Letter of Intent

The Norwegian shipowner Color Line AS and Kvaerner Masa-Yards in Finland have signed a Letter of Intent according to which the parties agree that Color Line will purchase and Kavaerner Masa-Yards will design, build and deliver a cruise passenger ferry. The Letter of Intent is subject to financing and of a mutually satisfactory shipbuilding contract. The value of the vessel is about $297 million. The parties will work in an exclusive basis towards finalizing the shipbuilding contract by October 15, 2002.

Color Line To Take Delivery of New Cruise Ferry

The Norwegian ship owner Color Line AS and Kvaerner Masa-Yards have agreed to extend the validity of their letter of intent signed in July 2002. The signing of the final contract has been delayed because the financing of the vessel is pending the outcome of the Norwegian budget proposal of October 3, 2002. already in effect in other Nordic and European countries. According to the letter of intent Color Line shall purchase and Kvaerner Masa-Yards shall design, build and deliver one cruise passenger ferry of about 74 500 gross tonnes. similar to the system in Sweden or Denmark. The vessel could start operation under Norwegian flag for the Christmas season 2004. The parties have agreed on the general arrangements and specifications of the vessel.

Navigator of the Seas To Be Delivered Early

Kvaerner Masa-Yards and Royal Caribbean Cruises have agreed on an earlier delivery date for the cruise ship Navigator of the Seas. The delivery of the cruise ship Navigator of the Seas, now under construction at Kvaerner Masa-Yards' Turku shipyard, will take place six week early, on November 18, 2002. "The earlier delivery date of Navigator of the Seas suites us perfectly, says Jorma Eloranta, president and CEO of Kvaerner Masa-Yards Inc. We are pleased to be able to meet our client's wish for an earlier delivery of the ship and with the positive development of the cruise market."

Wärtsilä Engines for Russian Icebreaker

Wärtsilä won an order for four engines for installation on the first Sakhalin ice breaker to be built by the Kvaerner Masa-Yards shipyard in Finland. The vessel will be equipped with three 8-cylinder Wärtsilä 38 main engines in diesel electric drive and an additional 6-cylinder Wärtsilä 20 engine to power a harbor/emergency generating set. Kvaerner Masa-Yards has been commissioned to design and build the icebreaker by the Russian Far-Eastern Shipping Company PLC (FESCO). Headquartered in Vladivostok, FESCO is the largest shipping company in Eastern Russia. Its strategy is to be the leading operator of icebreakers and ice class vessels in East Asia. Scheduled for delivery to FESCO in 2005, the 4,000 dwt vessel will be 100 m long and have a shaft output of 13 MW.

Aker Yards Extends Option for Second Ultra Voyager

Kvaerner Masa-Yards, part of Aker Yards, announces that it has agreed with Royal Caribbean Cruises Ltd. to extended an option to purchase a second Ultra Voyager ship, scheduled for delivery in 2007. Royal Caribbean and Kvaerner Masa-Yards Inc., have agreed to extend the option to September 30, 2004. The option was to have expired on August 31, 2004.

Kvaerner Masa-Yards Receives Contract

awarded a contract to provide ice breaking consulting services and model testing for the USCG Great Lakes Icebreaker currently being designed by Marinette Marine Corporation (MMC) a division of Manitowoc Marine Group. The new icebreaker will be named Mackinaw in honor of the heavy icebreaker that it is replacing. multi-mission vessel, approximately 73 m long, 18.3 m beam, and displacing 3,500 tonnes. The ship will break ice to keep the Great Lakes shipping lanes open in the winter and service aids to navigation in summer. control, security and law enforcement. conjunction with ABB Industry Oy. The icebreaking consulting services to be provided to MMC will include a hull form feasibility study, and ice performance, powering, stability, seakeeping and maneuvering performance evaluations.

Kvaerner Masa-Yards Piikkiö Works Agrees With Flender Werft

Kvaerner Masa-Yards Piikkiö Works and German shipyard Flender Werft have signed a contract on the delivery of approximately 550 prefabricated modular cabins for two fast passenger/car ferries Superfast XI and Superfast XII -- owned by Attica Enterprises. The cabins, which will be supplied during the years 2001 and 2002, will be manufactured at Piikkio Works' new assembly factory in Paimio. The order comprises 211 high class passenger cabins and 62 well equipped crew cabins per ship.

Buyers Eyeing Kvaerner's Masa-Yards

The head of Kvaerner's Masa-Yards Martin Saarikangas reportedly announced that a group of buyers were in talks to make an offer for the Finnish shipyards.

Buyers Eyeing Kvaerner's Masa-Yards

The head of Kvaerner's Masa-Yards Martin Saarikangas reportedly announced that a group of buyers were in talks to make an offer for the Finnish shipyards.

Kvaerner Masa-Yards Elects New Executives

Kvaerner Masa-Yards has announced the following management changes: Jouko Virta, CFO; Martin Landtman, senior vice president, Marketing and Sales; Thomas Foss, chief legal counsel; and Arto Hein, manager of Human Resources and Development - Turku New Shipyard.

Kvaerner Masa-Yards Signs $300 million Cruise Ferry Deal

Kvaerner Masa-Yards, the Finnish shipbuilder, has signed a contract with Color Line AS, the largest ferry operator in Norway, for the construction of a 74,600-gt cruise ferry. The 2,800-passenger cruise ferry, the largest in the world, is valued at approximately $329 million. The vessel will be built at Kvaerner Masa-Yards Turku shipyard for delivery in December 2004. The contract immediately affects the workload at the yard's design departments and, from late spring 2003, also the production departments. Intended to start sailing between Kiel and Oslo for the Christmas season 2004, this new ship will set new standards in ferry design, confirming Color Line's position as one of the leading European cruise ferry operators.

Kvaerner Masa-Yards Piikkio Works Signs Contract with Meyer Werft

Kvaerner Masa-Yards Piikkio Works has signed a contract with the German shipyard, Meyer Werft, for the delivery of nearly 2000 cabin and bathroom modules for two cruise ships on order in Papenburg for Royal Caribbean International. The order is worth more than $30 million ($200 million FIM). The cabin and bathroom modules will be delivered to the shipyard before the beginning of 2004. The cabins to be delivered are of the same standard regarding design and construction technology as the cabins delivered to Kvaerner Masa-Yards’ own shipyard building the Voyager-class ships to the same owner.

Kvaerner Masa-Yards Breaks the Ice in Russia

Subsequent to evaluation by ExxonMobil, operator of the Sakhalin-1 project in Russia, Kvaerner Masa-Yards Inc., Finland, and Far-Eastern Shipping Company PLC (FESCO), Russia, have signed contracts for the design and construction of two icebreaking stand-by and supply vessels for the Sakhalin-1 project. The contracts are still subject to approval by the Central Bank of Russia and to issues related to post-delivery financing. With the contract for the second ship to be confirmed by early November 2003…

USCG Icebreakers to Sport Finnish Technology

The new icebreakers for the U.S. Coast Guard being built at Marinette Marine Corp. will feature some of the world's most advanced icebreaking features, complements of Finland. Marinette Marine, a division of Manitowac Marine Group, has contracted with a pair of Kvaerner Masa-Yards Group Companies — Kvaerner Masa Marine (KMM) and Masa-Yards Arctic Technology Center (MARC) — to provide ice breaking consulting services and model testing for the new USCG Great Lakes Icebreaker Mackinaw. Named in honor of the heavy icebreaker that it is replacing, Mackinaw will be a multi-mission vessel, measuring 240 x 60 ft. (73 x 18.3 m), and it will displace 3,500 tons. The ship will break ice to keep the Great Lakes shipping lanes open in the winter and service aids to navigation in summer.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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