Nordic Yards eyes new site in Russia

Germany’s Nordic Yards is aiming to establish a new shipyard in Russia, according to Vitaly Yusov, the company’s president and owner.

“We’ll undoubtedly consider building our own [facility] because the trend towards increasing local output… is gaining momentum,” Yusov told local news agency ITAR-TASS. He added that possible locations for the designed shipyard include “the Far East or the Baltic region”, and Nordic Yards is carrying out an analysis of the potential locations.

The Russian-owned, Germany-based shipbuilder is considering cooperating with other Russian shipyards, according to Yusov. Another option would be to establish a joint venture with another local shipyard, purchasing a stake in its partner, the firm’s owner said.

The amount of the planned investment was not disclosed by Nordic Yards. However, Yusov said the company has a “substantial” portfolio of orders.

The shipbuilder’s latest contracts include a deal with Russia’s Federal Agency for Sea and River Transport for the supply of two emergency and rescue ice-class vessels.

Nordic Yards operates two facilities in Rostock-Warnemünde and Wismar, previously operated as Wadan Yards. To date, the company has secured close to 1,000 shipbuilding projects in 74 product clas-ses, according to data released by Nordic Yards. These include ice-breakers, ferries, bulk carriers and tankers.