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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA stops chartering container vessels

IKEA will no longer lease space on board container ships to have its products brought to shelves across the world, the global furniture group confirms. But the company is trying to avoid congested ports.

Related articles

Latest news

See all jobs