Rus News Journal

Crisis not the hindrance

Wadan Yards has brought industrial results of 2008

the Economic crisis which has painfully struck on ship builders strongly depending on credits, could not while to reach to Wadan Yards. Despite complexities in the last quarter, the company has shown quite good industrial indicators following the results of 2008, and the serious portfolio of orders and trust of the authorities allow it to look confidently and per 2009. However as a whole experts are adjusted not so optimistically, predicting a stop in the end of the year of those enterprises in branch which do not possess hi-tech manufacture.

ship-building group Wadan Yards is generated in July, 2008. 70 % of shares of company belong to group of the Russian businessmen, 30 % - to the Korean concern STX. The basic actives Wadan Yards are two shipyards in Germany (Wismar and Varnemjunde) and one in Ukraine (factory Ocean ) . The chairman of board of directors - Andrey Burlakov.

according to Wadan Yards, on the basic shipyards of the company in Germany in 2008 14 courts (3 container trucks of ice type and 11 standard container trucks) have been put in operation. The total tonnage of the constructed courts has made more than 284 thousand GT, deadweight - almost 366 thousand t, capacity - more than 24 thousand TEU. In the company mark small decrease in digital indicators in comparison with 2007, explaining it to that in accounting year vessels with higher level of equipment demanding, accordingly, bolshego quantity of working hours were under construction.

thus in Wadan Yards with optimism speak about 2009, marking a solid portfolio of already available orders: only 13 courts (eight container trucks, two universal cargoships, one container truck of the Arctic class, two ferries of type Ropax). By the way, these ferries - the greatest in the world, deadweight of 11,5 thousand t. Last vessel from this portfolio should be floated only in the third quarter 2010. Making comments on results of year, chairman of board of directors Wadan Yards Andrey Burlakov has noted: For us 2008 was epoch-making: we have got the best ship-building active in Europe. And at all have not regretted: despite crisis, our shipyards practically do not reduce turns, we have not dismissed any person .

Traditionally the shipbuilding is the branch considerably depending on cost of money. It is no wonder that experts predict to it a difficult year. So, Evgenie Shago from Ingosstrah - Investments believes that the part of shipyards in general can rise by the end of the year from - for absence of possibility to involve extra means. as a rule, all shipyard costs less, than one vessel under construction on it - the expert notices. However the president of the Union of the Russian ship-owners Michael Romanovsky specifies that building and vessel payment, as a rule, share on five stages, and each following stage begins only after payment of the previous. Konstantin Romanov from IK finam adds that especially hard it is necessary to the Russian ship builders, it is no secret, that heavy buyers prefer to place orders for vessels for foreign shipyards.

in Wadan Yards are assured that will not face serious problems of liquidity. So, in December, 2008 the company already could involve the credit of the government of the Earth Mecklenburg - Forward Pomorze in which territory there are shipyards, at a rate of 60 million euro. the unique enterprise in Germany, received a financial umbrella from the German government during this improbably heavy time - Wadan Yards, the company which belongs to Russian - accents g - n Barge hauliers.