Login
7431247 - 05_10_2007 - Århus Værft - LIND OLE.jpg
Photo: Ole Lind

Shipbuilder FSG launches large-scale cost reduction initiative

Suppliers:

German shipyard Flensburger Schiffbau-Gesellschaft (FSG) plans to save millions of euros through a large-scale cost savings plan which will include wage reductions and firings. The plan ensures full financing for the orderbook, which includes two RoRo vessels for DFDS.


BY NIKLAS KRIGSLUND
Published 07.11.16 at 15:56

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Suppliers

Lightship Chartering bets on London with new office

mortenhave2.jpg Suppliers:

Shipbroker Lightship Chartering will open a new office in London and plans to have 20 employees in the UK capital within the next three years. The first quarter this year was broker's best since 2009, Chairman Morten Have tells ShippingWatch.

Media: Deloitte to receive penalty for role in South Korean yard scandal

Suppliers:

South Korea's Financial Services Commission will bar accounting firm Deloitte for a year following the scandal related to accounting fraud at Daewoo Shipbuilding & Marine Engineering.

HSH Nordbank hit by new loan loss provisions for billions

Suppliers:

Ailing German shipping bank HSH Nordbank made loan loss provisions for EUR 2 billion in 2016 on non-performing shipping loans. Several equity funds are showing interest in buying the bank.

Italian shipbuilder Fincantieri back in black for 2016

Suppliers:

Strong developments in the cruise business sends Italian shipbuilder Fincantieri into the black for 2016, though the crisis in offshore continues to weigh down the group. Fincantieri "has left behind the longest sector crisis on record," says CEO.

Daewoo chairman asks workers to take pay cut

Suppliers:

Everyone must share the burden if crisis-stricken Daewoo Shipbuilding & Marine Engineering (DSME) is to survive, says the shipbuilder's chairman, asking his employees to take a pay cut as part of the coming lifeline granted by the state.

DSME bags first order of the year

Suppliers:

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has won its first order this year, reports Korea Herald. The order for two vessels hits a dry spot for the yard which is in the midst of dire financial woes.

Current front page

CEO Habben Jansen will now pay back Hapag-Lloyd's owners

rolfhabbenjansen1.jpg Container:

Hapag-Lloyd CEO Rolf Habben Jansen heralds a pause in growth for the German carrier in order to digest the mergers with CSAV and UASC and cater to the owners who have lost vast sums in recent years. He does not share the optimism for the market expressed by other carriers.

Sunken Maersk Supply Service vessels contain tons of oil

Carriers:

The two Maersk Supply Service vessels which sank off the coast of France last year contained a total of 192,000 liters of oil and oil residues, according to an inventory of hazardous substances in the vessel's tanks. The carrier has confirmed the figures, while an environment expert says the ships must be emptied or salvaged.

HSH Nordbank hit by new loan loss provisions for billions

Suppliers:

Ailing German shipping bank HSH Nordbank made loan loss provisions for EUR 2 billion in 2016 on non-performing shipping loans. Several equity funds are showing interest in buying the bank.

Dry bulk rates surpass last year's peak

Bulk:

Last week the dry bulk rates inched above last year's peak level registered in November after many months on rock bottom, shows the most recent data from the Baltic Dry Index.

Weco Roro cancels historic Atlantic service

Container:

The closure of the service that linked the Mediterranean to the US East Coast and parts of Latin America marks the end of a 60-year presence for the carrier on this trade. According to Alphaliner, the service is shut down due to persistent losses.

Norden makes big savings on fuel

Carriers:

Monitoring of fuel consumption on Norden's fleet has secured savings of nearly USD 25 million at the carrier, while the oil price decline has contributed to a strong reduction in costs, according to Norden News.

ADVERTISEMENT

Vacancies

ADVERTISEMENT