Dutch give up Orsova

Dutch firm Rensen Beheer, specialising in building and selling fluvial vessels, sold its entire 16.8% stake in Orsova Shipyard (SNO) in Romania according to Constantin Badoiu, general manager of the SNO. Badoiu did not specify who the buyer was.

The Dutch collected over 2.5 million euros for the stake they held. SIF Transilvania, which owns just a little less than 50% in the ship builder, was not involved in the transactions, according to SIF’s deputy general manager, Florian Firu.

Orsova Shipyard’s whole production capacity is being used this year, but it has been affected by the appreciation of the local currency, RON, given that the entire production is exported. “The whole production for this year, which is valued at some 30 million euros, has been contracted mainly because the demand for ships on the European market and elsewhere is growing,” stated Badoiu. Company representatives also added that the company had delivered 18 ships instead of 16, as scheduled last year, with the additional production accounting for about 5 million euros. “Like any exporter, we were affected by the unfavourable exchange rate, and by the rising prices of the main raw materials, but the impact was not significant, as these factors were accounted for in the renegotiation of the current contracts,” specified the manager of the SNO.