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Norwegian Fosen Yard has to file for insolvency

The Norwegian shipyard Fosen Yard AS in Rissa has filed for insolvency. It is the second bankruptcy after Emden. The Stralsund site is not affected.

132 employees work at the site in Norway. “However, we have been working on solutions for some time,” Managing Director Anders Straumsheim told the Norwegian news magazine E 24 [ds_preview].

Two projects in particular have led to a cost explosion. These were an engine replacement and the electrification of a ferry, i.e. the installation of a battery system. The effort and costs were underestimated.

Fosen overloads itself with projects

Anders Straumsheim, Fosen, CEO
Anders Straumsheim, CEO Fosen Yard

Last year, new dual-fuel engines from Wärtsilä, which can use both LNG and marine gas oil (MGO) as fuel, were also installed on the two RoPax ferries “Stavangerfjord” and “Bergensfjord” built by Fosen for Fjord Line, which operate between Denmark and Norway.

The shipyard has been located in the Norwegian municipality of Indre Fosen on the Trondheimfjord for 40 years. The shipyard’s name is derived from the peninsula on which the company’s headquarters are located.

Fosen in Stralsund not affected

In the fall of 2018, Fosen took over the majority of the Emden-based Nordseewerke and founded Fosen Yard Emden GmbH. Oversized components for a deep-sea salmon farm were manufactured there. A hoped-for order for six mini bulkers did not materialize. The company had to file for insolvency in June 2022.

Carsten Stellamanns, Fosen
Carsten Stellamanns

Fosen in Stralsund then became the leaseholder of the former MV shipyard site. The German company with around 50 employees is not a subsidiary and operates financially independently of Norway. It is therefore not affected by the insolvency, Managing Director Carsten Stellamanns told HANSA . “On the contrary: we are very busy at the moment.”

The company was recently awarded the contract to refurbish the “Gorch Fock I”, and work is also currently underway on the traditional ship “Greif”. The FRS ship “Skane Jet” will soon be docked, and steel parts for a ferry dock in Puttgarden will also be produced from the end of February.

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