Bergen terminates Russian contracts

08 Oct 2009

The two Russian-owned shipping companies Aqueda Shipping Limited and Mariora Shipping Limited have not achieved funding for the construction of two advanced trawlers within the time that was agreed in the contract with Bergen Group's subsidiary Bergen Group BMV. Deliveries of the two trawlers were estimated at the end of 2011.

When the contract was signed on 1 June 2009 it had an estimated value of NOK 2.7 billion. Although Bergen Group now choose to remove the expired contract from the group's order backlog, the group maintains a good dialogue with the two shipping companies about possibilities to resume cooperation in the project at a later stage.

Bergen Group Fosen and BOA Group have extended the validity of the contracts for the construction of four multi-functional PSVs and a standard PSV until the beginning of January 2010. The contracts signed in April 2009, are still subjects to financing and board approval. The estimated contract value of NOK 2.74 billion has not been included in the Bergen Group's order backlog.

Links to related companies and recent articles ...