rss icon Subscribe
desktop mobile

Damen Buys shares in Daewoo Mangalia Heavy Industries

(Photo courtesy Damen)

Press Release

Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding & Marine Engineering (DSME) for the acquisition of its majority share in Daewoo Mangalia Heavy Industries (DMHI).
The Daewoo shipyard in Mangalia, Romania was established in 1997 as a joint venture between Daewoo and 2 Mai Mangalia Shipyard with Daewoo as majority shareholder.
With the acquisition of the majority share in the shipyard in Mangalia, Damen takes the next step in strengthening its international shipbuilding and ship repair activities. The Mangalia shipyard is located on the Black Sea coast. The yard is spread over an area of 980,000m2, has three drydocks with a total length of 982 metres and 1.6 kilometres of berthing space. The docks, with a width of between 48 and 60 metres, will provide Damen with capacity to cater for the largest maritime vessels and structures. As such, this move represents a strategic complement to Damen's current shipyard portfolio.
Damen already owns a shipyard in Romania, in Galati on the banks of the River Danube, currently the group's largest shipyard. Since joining Damen in 1999, this yard has developed into a highly efficient production yard with a significant output of many hundreds of vessels and structures. The yard's shipbuilding expertise and closely-managed supply chain have been behind some of Damen's most important deliveries to date, fully representing the group's diverse product portfolio. With the Mangalia shipyard, Damen will have its two largest shipyards in close proximity to one another.
The Romanian competition authorities have already approved the envisaged transaction. Furthermore, constructive meetings are being held with the Romanian Government in relation to future cooperation in Mangalia and the further development of the Romanian shipbuilding industry.

Nov 10, 2017

 

Contracts

GE Transportation to Supply Freight Locomotives to Ukraine in USD 1bln Deal

Photo: GE Transportation

GE Transportation signed a $1 billion framework agreement in Ukraine, marking a major milestone

Nordic American Tankers Signs TC with Major Oil Firms

Photo: Nordic American Tankers

In the autumn of 2017, Nordic American Tankers (NAT) advised you of our time charter

Djibouti Ends Dubai's DP World Contract to Run Container Terminal

Photo: DP World

Djibouti has ended a contract with Dubai's DP World, one of the world's biggest port operators

People & Company News

Dry Bulk Market Looks Up: J. Lauritzen

Lauritzen Bulkers. Photo:  J. Lauritzen

Both the dry bulk market and the market for small gas carriers are anticipated to benefit from

U.S. Sues to Stop Wilhelmsen From Buying Rival Drew Marine

The U.S. Federal Trade Commission said on Friday it would challenge in court the Norwegian company Wilhelmsen Maritime Services' plan to buy smaller U.S. rival Drew Marine Group.

Yang Ming Marine Offers Korea-Vietnam-Thailand Service

Image: Yang Ming Marine

Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will

Maritime Apps