Severnav blighted by Danube

The Romanian shipbuilder Severnav Drobeta Turnu Severin made 840,000 Euro profit in the first nine months of the year, against about 73,000 Euro in the corresponding period of last year.

However, the company’s turnover suffered a 66% drop to 4.32 million euros compared to the 12.5 million euros for the same period last year. The lower turnover is due to completed vessels that could not be delivered to owners because of the low water level of the Danube which made it impossible to sail the new ships to the Black Sea.