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Orders worth 700 mln euros for shipbuilding industry, this year

Big demand for ships worldwide led to an increase in the volume of contracts concluded with the domestic shipyards, in excess of two billion euros overall.

'For 2008, I estimate that the naval industry in Romania will deliver orders in the value of almost 700 million euros, 5 percent more than last year', announced Gelu Stan, director general of Damen Galati (east) and leader of the Romanian Shipbuilders Association, Anconav. He said that, at last year-end, Daewoo Manglia (south-east) concluded a contract in the value of 850 million dollars (some 577 million euros) and Constanta Shipyard (south-east) is involved in the construction of a series of 18 ships, Oil-Chemical Tanker type, with a total value of more than 700 million dollars (some 476 million euros), whose beneficiaries are companies in Italy, Germany, Malta and Cyprus. 'We cannot fully enjoy the multiplication of ship building orders because immediately we remember the problem of labor force we are confronted with. You must have the needed staff to be able to honor those contracts and, unfortunately, all shipyards in Romania are affected from this point of view', underlined Damen director. The two shipyards in Romania controlled by Norwegian Aker Yards Group, Aker Braila (east) and Aker Tulcea (east), have ongoing building contracts in the value of some 100 million euros each. 'Because these contracts are long-term ones, we need to protect ourselves against disadvantageous exchange rate variations and, to this end, we concluded hedging contracts in the value of 50 million euros', said Aker Tulcea director general Dumitru Ivanov. Orsova shipyard has to honor this year orders in the value of 30 million euros and, in 2009, the delivered orders portfolio is expected to rise to approximately 35 million euros. 'There is a very big demand in the field of naval constructions, set to continue up to 2012', pointed out Orsova company's director general Constantin Badoiu. Sursa: http://www.rompress.ro

Tags: euros million orders contracts value

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