STX Europe

Last updated
STX Europe
Type Private
Industry Shipbuilding
Predecessor Aker Yards
Founded2004
(as Aker Yards)
2008
(as STX Europe)
Headquarters Oslo, Norway
Key people
  • In-Sung Lee (chairman of the board)
  • Su-jou Kim (president & CEO)
Revenue NOK 31,496 million (2008) [1]
Decrease2.svg (NOK 561million) (2008) [1]
Increase2.svg NOK 40 million (2008) [1]
Owner STX Offshore & Shipbuilding
Number of employees
15,500(2008) [1]

STX Europe AS, formerly Aker Yards ASA, was until 2012 a subsidiary of the South Korean STX Offshore & Shipbuilding.

Contents

With headquarters in Oslo, Norway, STX Europe operated 15 shipyards in Brazil, Finland, France, Norway, Romania and Vietnam. The company had three business areas: Cruise & Ferries, Offshore & Specialized Vessels and Other Operations.

In 2012, with rising outstanding debts, STX retained the Finnish cruise shipbuilding yard and sold the remainder as STX OSV Holdings, (Offshore & Specialist Vessels), including all the yards, to Fincantieri, which renamed the group Vard.

In September 2014 STX Finland was sold, 70% to Meyer Werft and 30% to the Finnish government. The operations were continued under name Meyer Turku thereafter. Meyer Werft acquired the Finnish government's 30% in April 2015.

In 2017 STX France, after the bankruptcy of STX Corporation, the company was acquired by the French government and reverted to its original name of Chantiers de l'Atlantique.

History

Background: before 2006

The evolution of STX Europe originated with the founding of two prominent shipbuilding groups in Europe. One was the Norway-based Aker Yards, created in 2004 by combining the shipbuilding activities of Aker and Kværner with the France-based Alstom shipbuilding group, which has shipyards (formerly those of Chantiers de l'Atlantique in Saint-Nazaire) and in Lorient.

Transition to STX Europe, and expansion: 2006–2012

On 4 January 2006, Aker Yards and Alstom announced their intention to join forces in shipbuilding and create together one of the world leaders in this industry, focused on high-value-added ships, including world-class cruise ships. [2] [3] The merger gave Aker Yards a majority shareholding over Alstom's shipbuilding activities; which included Chantiers de l'Atlantique shipyard – the builder of the liner RMS Queen Mary 2.

Aker ASA, the majority shareholder of Aker Yards; reduced its ownership share from 50.4% to 40.1% in January 2007. Aker divested its total shareholding in March 2007, and in October 2007, STX Business Group secured a 39.2% stake of Aker yards. Later, STX took a controlling stake, and renamed the group to STX Europe on 3 November 2008 to reflect the new ownership structure. [4] [5]

In January 2009, STX business group acquired the remaining shares in STX Europe and became the company's sole shareholder. In February 2009, it was decided to delist STX Europe from Oslo Stock Exchange where it was previously listed under the ticker STXEUR.

Operations

Photo from Wadan Yards in Wismar, Germany, previously partly owned by STX Europe MTW Wismar.jpg
Photo from Wadan Yards in Wismar, Germany, previously partly owned by STX Europe

Cruise & Ferries

The Cruise & Ferries division constructs vessels mainly at shipyards in Finland and France. The business area had revenues of NOK 19,709 million in 2008.

List of shipyards

Cruise + Ferry

Other Operations

OSV (OffShore & Specialized Vessels)

STX Europe has two shipyards in Romania: Braila and Tulcea. The steel hulls for most of STX Europe's new building projects (Offshore & Specialized Vessels) are being built by Braila and Tulcea in Romania. STX Europe's yard in Braila is situated 170 km up the River Danube. Portfolios consist of hull production, delivery of complete merchant vessels together with repair and conversion work. The yard has a 1300m long outfitting quay, facilities for simultaneous mounting or repairing of 12 vessels and equipped with multiple 50 tonne portal cranes. The mounting platform and launching berth have capacity for vessels up to 135 x 23 m and a maximum launching and lifting weight of 2500 tonne and 2200 tonne respectively.

STX Europe's yard in Tulcea is located at nautical mile 39.5 on the right bank of the Danube, upstream of Tulcea, and it is one of the youngest Romanian firms in the field. In Tulcea STX Europe offers services in shipbuilding, conversions and repairs. It has a large covered hall where four ships can be built simultaneously. Over 6000 people working here, it is the greater capacity of offshore and specialised division.

  • Flag of Brazil.svg STX OSV Niteroi SA
  • Flag of Vietnam.svg STX OSV Vietnam Ltd.

Production

Ships

STX Europe :

Related Research Articles

<span class="mw-page-title-main">Carnival Corporation & plc</span> British–American global cruise operating company

Carnival Corporation & plc is a British-American cruise operator with a combined fleet of over ninety vessels across nine cruise line brands and one joint venture with China State Shipbuilding Corporation (CSSC). A dual-listed company, Carnival is composed of two companies – Panama-incorporated, US-headquartered Carnival Corporation, and UK-based Carnival plc – which function as one entity. Carnival Corporation is listed on the New York Stock Exchange, whereas Carnival plc is listed on the London Stock Exchange with an ADR listing on the NYSE. Carnival is listed in both the S&P 500 and FTSE 250 indices.

<span class="mw-page-title-main">Royal Caribbean Group</span> Cruise holding company

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise holding company incorporated in Liberia and based in Miami, Florida. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of January 2021, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. They hold a 50% stake in TUI Cruises and Hapag-Lloyd Cruises, also the now-defunct Pullmantur Cruises and CDF Croisières de France.

<span class="mw-page-title-main">Port of San Juan</span> Seaport facility in Puerto Rico

The Port of San Juan is a seaport facility located in the metropolitan area of San Juan, Puerto Rico.

<span class="mw-page-title-main">Tallink</span> Estonian shipping company

<span class="mw-page-title-main">Fincantieri</span> Italian shipbuilding company

Fincantieri S.p.A. is an Italian shipbuilding company based in Trieste, Italy. Already the largest shipbuilder in Europe, after the acquisition of Vard in 2013, Fincantieri group doubled in size to become the fourth largest in the world (2014). The company builds both commercial and military vessels.

<span class="mw-page-title-main">Chantiers de l'Atlantique</span> French shipyard

Chantiers de l'Atlantique is a shipyard in Saint-Nazaire, France. It is one of the world's largest shipyards, constructing a wide range of commercial, naval, and passenger ships. It is located near Nantes, at the mouth of the Loire river and the deep waters of the Atlantic, which make the sailing of large ships in and out of the shipyards easy.

<i>Oasis</i>-class cruise ship Class of Royal Caribbean International cruise ships

The Oasis class is a class of 5 Royal Caribbean International cruise ships. The first two ships in the class, Oasis of the Seas and Allure of the Seas, were delivered respectively in 2009 and 2010 by STX Europe Turku Shipyard, Finland. A third Oasis-class vessel, Harmony of the Seas, was delivered in 2016 built by STX France. A fourth vessel, Symphony of the Seas, was completed in March 2018. As of March 2022, the fifth Oasis-class ship, Wonder of the Seas, is currently in service. A sixth ship, to be named Utopia of the Seas has been ordered by the company.

<i>Azamara Onward</i> Cruise ship

MS Azamara Onward, formerly R Three and Pacific Princess, is a cruise ship owned and operated by Azamara Cruises since 2022. She was built in 1999 by the Chantiers de l'Atlantique shipyard in Saint-Nazaire, France for Renaissance Cruises. In 2002, following the failure of Renaissance Cruises, the ship was sold to Princess Cruises and renamed Pacific Princess. On 21 January 2021, Carnival announced the ship had been sold to an unnamed buyer, later revealed to be Azamara Cruises.

MS <i>Galaxy</i> 2005 ferry

MS Galaxy 1 is a cruise ferry built in 2006 by Aker Finnyards, Rauma, Finland and was at the time the largest ship delivered to ferry operator Tallink. Between 2006–2008 she held the distinction of being the largest ship ever to be registered in Estonia; a title later held by her replacement the sister ship MS Baltic Princess.

<i>Norwegian Epic</i> Cruise ship

Norwegian Epic is a cruise ship of the Norwegian Cruise Line built under NCL's F3 Project by the STX Europe Chantiers de l'Atlantique shipyard in Saint-Nazaire, France. When built she was the third largest cruise ship in the world.

MS <i>Baltic Princess</i> 2008 ferry

MS Baltic Princess is a cruiseliner owned by the Estonia-based ferry operator Tallink and operated under their Silja Line brand. She was built by Aker Finnyards Helsinki New Shipyard in Helsinki, Finland in 2008. The ship began service on the cruise route between Helsinki, Finland to Tallinn, Estonia on 17 August 2008. From 1 February 2013 the ship began service on the Turku–Mariehamn–Stockholm route.

MS <i>Baltic Queen</i> 2008 ferry

MS Baltic Queen is a cruiseferry owned by the Estonia-based ferry operator Tallink. The ship was built by the STX Europe shipyard in Rauma, Finland.

Cruise Lines International Association (CLIA) is a cruise line trade association. It merged with International Council of Cruise Lines (ICCL) in 2006, forming an expanded organization incorporating the existing functions of both organizations. The merged organization, which uses the CLIA name, is located in Washington, D.C.

<span class="mw-page-title-main">STX Finland</span> Finnish shipbuilding company

STX Finland Oy, formerly Aker Yards Oy, was a Finnish shipbuilding company operating three shipyards in Finland, in Turku, Helsinki and Rauma, employing some 2,500 people. It was part of STX Europe, a group of international shipbuilding companies owned by the South Korean STX Corporation.

<span class="mw-page-title-main">Perno shipyard</span> Shipyard in Turku, Finland

Perno shipyard is a shipyard in Turku, southwest Finland, that specialises in building cruise ships, passenger ferries, special vessels and offshore projects. The yard area is 144 hectares. The yard is operated by Meyer Turku Oy. The dry dock is 365 metres (1,198 ft) long, 80 metres (260 ft) wide and 10 metres (33 ft) deep, and equipped with two bridge cranes with capacities of 600 tonnes and 1,200 tonnes. The newer bridge crane with a capacity of 1,200 tonnes is the largest in the Nordic region.

Meyer Turku Oy is a Finnish shipbuilding company located in Turku, Finland Proper. The company is fully owned by German shipbuilder Meyer Werft GmbH. The main products are cruise ships and cruiseferries.

<span class="mw-page-title-main">Azamara</span> Cruise company

Azamara is a cruise line based in Miami, Florida, that operates four cruise ships on worldwide itineraries.

References

  1. 1 2 3 4 "Annual Report 2008". STX Europe. Retrieved 2009-03-13.
  2. "Aker Yards and Alstom Marine Complete Transaction" . Retrieved 26 July 2012.
  3. "Aker Yards and Alstom Marine plan to join forces" . Retrieved 26 July 2012.
  4. STX Europe (2008-11-05). "Aker Yards Changes Name to STX Europe" . Retrieved 2008-11-05.
  5. "Aker Yards to be renamed STX Europe". Reuters. 3 September 2008. Retrieved 26 July 2012.