Lisnave diversification

In spite of a tough market Lisnave managed to attract 132 vessels to its yards for repair in 1999; a 12% increase on 1998. Total deadweight tonnage increased by 5% to over 9 million dwt.

The year was marked by successful diversification into markets other than its traditional tanker and bulk carrier business. Repair contracts on tankers and OBOs declined by 28%, but contracts for bulk carriers, container vessels, passenger ships and others all increased significantly. Enquiry levels were up by 5% despite a reduction of 16% and 9% in enquiries for tanker and bulker work respectively.

Significant contracts included major modification work on three self discharging bulk carriers, and repairs to five tankers from Bona Shipping/Teekay, three Delmas and three Blue Star container vessels and four tankers for Unicorn.

Yard management expect an upward trend in the industry during 2000. Activity during January and February was described as ?acceptable?, with contracts including a seven-ship block booking from A P Moller.