STX Finland to build TUI newbuildings as planned
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 26 February 2013 26 February 2013
The two cruise liners TUI Cruises, the German premium market cruise shipping group, has on order at STX Finland at its Turku yard, will be built there as planned, Finland’s Ministry of Employment and the Economy said in a statement.
The government will inject €15 million in new innovation aid to ensure the construction of the two ships, in addition to a €16 million package of which there was an earlier agreement.
Uncertainty over construction time financing of the two ships had threatened their completion at the Finnish yard and the future of the shipyard itself.
The government also buys the site of the Turku shipyard for €23.5 million, while the shipbuilder’s owner agreed to “inject tens of millions in new capital to the yard,” the ministry said. STX Finland is part of STX Europe, an Oslo based subsidiary of STX Business Group of South Korea.
In addition, TUI Cruises itself agreed to unspecified measures to bring in more flexibility in the financing of the construction of the two ships. The first unit, of 97,000 gross tons, is due to enter service next year and the second ship, of 99,300 gross tons, in 2015.
Fincantieri 2012 profit “in excess of €15 million”
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 26 February 2013 26 February 2013
Fincantieri, the Italian state owned shipbuilder, it increased its profit to more than €15 million last year from €9 million in 2011. Operating profit (EBITDA) remained stable at €137 million or 5.7% of revenues that also remained little changed at €2.83 billion, it said in a statement.
"Commercially, Fincantieri succeeded in making the best of the available opportunities, finalizing agreements for new orders, including options, worth a total of €6.5 billion which also include all the cruise industry’s orders for new prototype ships. This figure includes €1.4 billion in finalized contracts, while the remaining agreements are all subject to finalization of the related financial packages."
In particular, in the merchant vessels business unit, contracts were signed for the construction of two cruise ships for Viking Ocean Cruises and an order was secured from Société des traversiers du Québec in Canada for the construction of a dual-fuel latest generation ferry featuring an innovative propulsion system.
With reference to the reorganization plan, contained in the national agreement signed at the end of 2011 with the Ministry of Labour and the majority of trade unions, the Group has aimed, on the one hand, to rebalance its workforce for the weaker order backlog (333 staff have left the parent company while an average of 1,463 employees have been temporarily laid off), and, on the other, to meet its business diversification objectives.
Fincantieri chairman Antonini has resigned
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 26 February 2013 26 February 2013
Corrado Antonini, chairman of the Italian state owned shipbuilding group Fincantieri, has resigned, the company said in a statement.
“The Board of Directors also took note of the resignation of the Chairman Corrado Antonini with effect from 31 December 2012. The new Chairman will be appointed at a later date,” Fincantieri said in the statement.
It gave no further details.
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