Fayard: Fierce price war among shipyards

The workload for the offshore industry has been exaggerated, says Fayards’s CEO Thomas Andersen. “There is a price war going on,” he says.

Photo: Foto: Carsten Andreasen

Shipyards in the Baltic Sea region and Northern Europe are locked in a fierce battle for orders within offshore and ship repairs, says CEO and owner of Fayard on the former Lindø yard, Thomas Andersen. He calls it a real price war brought on by an abundance in shipyard capacity.

“The market is under a lot of pressure, but, as far as our own company is concerned, we have seen a sound development up until October. And even though we are approaching a couple of weak months and we emerge from 2013 with a smaller turnover, we can present a significantly better result than in 2012,” Thomas Andersen tells ShippingWatch.

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

HHLA advances despite chaotic market

Port company Hamburger Hafen und Logistik has seen much progress this past half year despite ”major operational challenges” on a volatile market.

Borr Drilling seeks capital in the US

Tor Olav Trøim’s Borr Drilling searches for capital in the US and plans to issue shares on the New York Stock Exchange, a company statement reveals.

Further reading

Related articles

Latest news

See all jobs