Bucharest-listed Orsova Shipyard signed two contracts worth a total of 8.58 million euro with Netherlands-based Rensen-Driessen Shipbuilding for the construction and delivery of two river vessels, according to a report of the Romanian company filed with the local bourse on Tuesday (Nov 5).
Under the contracts, Rensen-Driessen Shipbuilding must make an advance payment, with the remainder of the price to be paid after the ships’ delivery in the port city of Rotterdam by April 1 and August 1, 2026, respectively.
Orsova Shipyard has several other ongoing contracts to build and deliver river vessels for Rensen-Driessen Shipbuilding. It also has intense collaboration with partners in other EU countries including Germany, Austria and Belgium.
This year, the Orsova-based company concluded four more contracts for the delivery of four ships, worth around 14 million euros.
Orsova Shipyard was founded in 1890 as a small workshop for the repair of ships participating in the construction of the Iron Gates – SIP Yugoslavia navigable canal and has had a constant development over time, experiencing a spectacular evolution after 1991 when it changed its organizational form and name, establishing the joint-stock company Santierul Naval Orsova SA.
Currently, it is a 100% private joint-stock company, the shareholders being: Sea Container Services SRL – 49,9998 %, SIF Muntenia – 44,1262%, Other shareholders – 5,874%.
Orsova Shipyard achieved in the first semester of 2024 a turnover of 54.8 million lei, an increase of 24.13% compared to the same period of the previous year and a net profit of 5 million lei, compared to 0.5 million lei in the corresponding period of 2023.
The company will publish its Q2 2024 results on Nov. 11. Orsova Shipyard’s stock market valuation stands at approximately 87 million lei.
Orsova Shipyard at a Glance
Founded: 1890 Headquarters: Orsova, Romania Employees: 337 (as of 31.12.2023) Share capital: 28.557.297,5 RON
