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Norwegian yards feeling the pressure from Asia

With an order reserve of approximately NOK 40 billion (USD 7.165 billion) Norwegian shipyards have made a very good living of especially custom-built and advanced vessels for the offshore industry. However, shipyards in China and elsewhere in Asia are breathing down their necks as the general number of newbuildings drop.

The Norwegian shipyard industry has entered a number of spectacular agreements over Christmas and New Years with Fiscantieri taking over all the Norwegian yards in STX OSV and their daughter companies – offshore vessel constructors – as the largest single agreement giving the Italian yard group an access point to the offshore industry in Norway and elsewhere. And a few days ago, the Norwegian shipyard group Westcon Group announced the takeover of the STX Norway Florø yard and the affiliated design company STX Norway Design Florø

Furthermore, Dutch-based Damen is expected to become the next foreign shipyard group to enter Norway when Bergen Group is expected to publish the name of the European company which will take over Bergen’s shipyard activities shortly.

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