Hard times for the Norwegian shipbuilding industry

Photo: Norskindustri.no

The Norwegian shipbuilding industry is facing a difficult future, with few new orders on the books and the looming threat of mass lay-offs. Representatives for the industry meet to discuss the situation, reports the Norway Post.

“The situation is worse than it has been for a long time,” says Egil Holland, chief at Federation of Norwegian Industries (Norsk Industri).

In the top year of 2006 the industry had contracts for 85 new ships. This year they have entered into contracts for only 6-7 new vessels.

The new Industry Minister, Trond Giske has ordered the Guarantee Institute and other financing institutions to present within three weeks concrete plans for how the crisis in the shipbuilding industry may be softened.

Giske is due to meet with representatives for the industry on Nov. 3 to discuss the crisis.

Read more on Norskindustri.no

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