Kvaerner CEO believes in a growing market again

The worst is over for Kvaerner despite the offshore industry's struggles. Upgrading and decommissioning of existing offshore facilities as well as focus on total enterprise have been put forward as the solution, says Kvaerner CEO, Jan Arne Haugan to ShippingWatch.

Wednesday, the Norwegian shipyard group Kvaerner published its quarterly report for the third quarter of 2016. The report shows that despite a USD 109 million (890 NOK) decline in revenue relative to the same period 2015, the company is believed to have reversed the negative trend sparked by the offshore crisis.

"It's a little too early to say whether the market is on the return, but the decline in the market and the reduction of the number of projects means that we can offer customers an A-team and complete focus when they show up, as we're not overbooked as a yard," says Jan Arve Haugan, Kvaerner CEO, adding:

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