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

Austal Awarded Two More Independence-variant LCS

(U.S. Navy photo courtesy of Austal USA)

The U.S. Navy awarded a contract modification to shipbuilder Austal USA to build two additional

Gulftainer Signs 50-year Lease for Port of Wilmington

Peter Richards, Group CEO of Gulftainer; Delaware Gov. John Carney; H.E. Yousef Al Otaiba, Ambassador of the United Arab Emirates to the United States; and Badr Jafar, Chairman of Gulftainer’s Executive Board, at the ceremony marking the Port of Wilmington concession agreement signing. Photo by Gulftainer

Gulftainer, the world’s largest privately-owned independent port operator and logistics company

Hyundai Mipo Dockyard Licensed by GTT

GTT has signed a Technical Assistance and License Agreement (TALA) with South Korean shipbuilder Hyundai Mipo Dockyard (HMD) targeting the outfitting of gas carriers

People & Company News

Maersk to Merge Damco, Ocean Product Units

(Photo: Eric Haun)

A.P. Moller-Maersk will merge Damco Supply Chain Services and Maersk Line's Ocean Product

Coles joins Wallem as CEO

Frank Coles joins Wallem Group as CEO at the end of October 2018.

Following the purchase of Transas by Wärtsilä, Transas' ubiquitous CEO Frank Coles will depart the

Gulftainer Signs 50-year Lease for Port of Wilmington

Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the United Arab Emirates, finalized a 50-year concession agreement with

Maritime Apps