Kvaerner Warnow News

Damen Verolme Rotterdam (DVR) won a contract by Stena Drilling for a refit of its drilling rig Stena Don. The vessel is scheduled to arrive at the yard in October 2018 and is expected to remain there for around three months. The most significant aspect of the works will be the installation of an eight-point mooring system prior to the rig being deployed off the UK’s Shetland Islands.In advance of the vessel's arrival, preparations are already underway at the yardto ensure that the installation of the mooring system can begin as soon as the Stena Don arrives at the yard.

A European Union investigation over the possible repayment of subsidies by German shipyard Aker Warnow Werft – formerly Kvaerner Warnow Werft – looks set to drag on. A spokesman for European Competition Commissioner Mario Monti dismissed a news report to the contrary, adding that there was no schedule for a decision yet. The case has been pending for several years.

Anglo-Norwegian engineering group Kvaerner ASA said on Friday that its German shipyard Warnow had won a contract worth 640 million crowns ($70.1 million) to build two container ships for Oskar Wehr. Kvaerner said in a statement that Oskar Wehr, based in Hamburg, had also ordered two similar ships from the yard in August. The two extra vessels, of the Warnov CV 2500 design, would be delivered in the first and second quarters of 2002.

Wismar, Germany. rev/min. of 1020 kW at the same speed. in Finland. 2003 and February 2004. Kvaerner Yards. 2004. of 29.8 m. They have stowage for 2478 TEU with 200 reefer sockets. The ships' service speed is 22.3 knots on a design draught of 10.1 m. generating sets. having been delivered in 2001.

Aker MTW Werft (AMTW) in Wismar has secured contracts to build an additional six container vessels of its MTW 2500 vessel design for Islamic Republic of Iran Shipping Lines (IRISL), the Teheran based shipowner. The total contract value is about $205 million. in Rostock-Warnemünde. to the success of the two German yards on this bid. while KWW will deliver two vessels in the second quarter of 2004. able to complete this series of six container vessels by mid-2004. the yards would not be able to meet such a tight schedule separately. under a joint interim management team since the end of September. Rostock-Warnemünde. business, while Aker Kvaerner will own the remaining 40 percent. the two yard sites and to adjust and optimize the working processes. The MTW 2500 vessels are 680.4 ft.

Anglo-Norwegian engineering group Kvaerner said on Wednesday it had won a contract valued at 627 million crowns ($67.7 million) from Hamburg-based Oskar Wehr GmbH to build two containerships. Kvaerner said in a statement its German subsidiary Kvaerner Warnow in Rostock would build the two ships for delivery in the third and fourth quarter 2002. Kvaerner said the contract comes on top of an existing contract to deliver four similar ships to Oskar Wehr. The containerships, which will measure 682 ft. (208 m) with a dwt of approximately 33,600 tons, each have a capacity of more than 2,500 containers, the statement said.

The European Commission has launched a probe into whether a German subsidiary of Anglo-Norwegian engineering and shipbuilding group Kvaerner Plc received excessive subsidies from Germany. The Commission suspects that the company may have received excessive state aid of around $59.2 million to cover possible losses during the restructuring of its Kvaerner Warnow (KWW) shipyard in eastern Germany. The Commission said it discovered last summer that KWW had given a $199 million loan to its parent company, Kvaerner. The EU executive then started investigating the origin of the money to ensure it did not contain any of the restructuring aid paid out earlier.

The European Commission is expected to start a probe into state aid to a German subsidiary of Anglo-Norwegian engineering and shipbuilding group Kvaerner Plc. The Commission suspects that the company may have received excessive subsidies of around $60.06 million to cover future losses during the restructuring of its Kvaerner Warnow (KWW) shipyard in eastern Germany. Last July, the Commission said KWW must repay $40.7 million in restructuring aid because it broke a production ceiling set as a condition of approving restructuring aid linked to the yard's privatization in 1992.

The European Commission asked Germany to recover $6.31 million in subsidies from Kvaerner ASA because a production ceiling at a German shipbuilding subsidiary had been breached in 1997. This is the second time in less than a year that the company has been asked to repay German aid granted to its Kvaerner Warnow Werft (KWW) shipyard in eastern Germany. In Tuesday's decision, the Commission said KWW had exceeded an annual capacity limitation of 85,000 cgt by over 10 percent in 1997. The company, which employs around 1,200 people in the region of Mecklenburg-Vorpommern, was privatized in 1992 through its sale to Kvaerner with total German restructuring aid of almost $800 million.

Kvaerner’s German yard unit Kvaerner Warnow Werft won a contract to build two containerships for $61 million. The ships are scheduled for delivery in the first and second quarter of 2001. Kvaerner, which is planning to pull out of shipbuilding, said the deal would keep the yard busy while it was looking for a buyer for the unit. The containerships were of the type Warnow CV 2500, developed by Kvaerner.

The Court of First Instance, has today ruled in the case concerning alleged breach of capacity restrictions at Kvaerner's German shipyard, Kvaerner Warnow Werft. The group has been informed that the Court has ruled in favor of Kvaerner. The Court has set aside the EU commission's decision that Kvaerner should repay DEM 117 million. Kvaerner paid and accounted for this amount in 2000. The Court's decision can be appealed within two months. Although Kvaerner has not yet seen the details of the Court's decision, Kvaerner's preliminary understanding is that the amount will be repaid. In addition to this case, the EU commission has not yet…

Aker MTW Werft (AMTW) in Wismar, Germany has acquired three orders to build container vessels, a joint development with Kvaerner Warnow Werft in Rostock-Warnemünde (Germany). The contract, worth $115M, is for three vessels that were ordered by Reederei Hartmann in Leer (Lower Saxony). The vessels which will be built in Wismar and Rostock-Warnemünde are due for delivery in the third and fourth quarters 2004. The contracts are subject to the settlement of financial issues by mid July 2003. The vessels of the type BALTIC CS 2500 are 207.4 m long and 29.8 m wide, with a deadweight of 33,900 t. They have a total container stowage capacity of 2,478 TEU with 400 reefer sockets for FEU. With a main engine output of about 21,500 KW the vessels have a service speed of 22 kn.

Oslo-based Aker Kvaerner Yards is irony in action. It serves an ancient industry dominated by older generation, yet is led by a fresh faced young executive. It prospers in a capital and equipment intensive market, yet is helping to re-define some of these relationships via the Internet. The organization is the largest shipbuilding consortium in Europe, yet good prospects for growth lie in smaller, compact yards. Once the cover of the book is read, though, it is increasingly easy to see why Karl Erik Kjelstad, 36, was tapped to lead one of the top shipbuilding consortiums in the world. Aker Kvaerner Yards is a collection of 16 yards and approximately 16,500 employees that generates an annual turnover of nearly $3 billion.

Aker Kvaerner and Aker RGI have entered into an agreement to establish a joint ownership for their wholly owned shipyards in Germany, respectively Kvaerner Warnow Werft and Aker MTW. Among other conditions, the agreement is dependent on approval from Aker Kvaerner's and Aker RGI's lenders. The aim is to implement the new ownership by the end of 2002. Aker Kvaerner will own 40 percent of the two yards. shipbuilding. shipyards in Europe, USA and Brazil. the largest shipyard groupings in the world. combine their shipbuilding activities when the time is right. in which immediate synergies have been identified. management at each yard have studied alternative forms of cooperation. joint leadership team was established earlier this year. competitiveness.