Home HRCompany Profiles Lisnave reports positive performance from 2016

Lisnave reports positive performance from 2016

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Los Angeles Spirit, bought by Teekay Tankers in 2016, at Lisnave.

Europe’s biggest shiprepair yard, Lisnave, achieved positive results in 2016 although it was another difficult year for providers of such activity on a global scale.

The yard’s directors noted that the sector was strongly affected by the crisis in the maritime transport sector, which suffered a sharp reduction in freight rates as the world fleet continued to expand alongside continuing instability in the global economy.

Navion Europa, a Teekay-operated shuttle tanker.

Despite tougher international competition, the Portuguese facility managed a respectable performance, repairing a total of 67 vessels. Although a lower number than expected at the beginning of the year and a slight decrease in the number compared with recent years, the company said that there had been, on average, a significant increase in the workload per vessel.

The vessels repaired were booked by 39 clients from 17 countries. Analysing clients by nationality, Lisnave said that Greece docked the most vessels, at 12. Greece was closely followed by Singapore with 11, while Norway contracted eight repairs and Germany six.

Lisnave boasts a 1.5m sq m facility on the island of Mitrena in the River Sado, the nearest cities being Setubal and Lisbon. It is geographically well placed to deal with ships that trade in the Atlantic and Mediterranean, and has generally favourable weather conditions.

Danish-flag Dan Cisne at Lisnave.

Lisnave said that based on the extensive know-how the group has accumulated over decades, it continues to repair a variety of ships. It is still the traditional market for oil tankers, where Lisnave kept the European leadership in repairs with the docking of 51 vessels, followed by container vessels of which six units were attended.

Confirming the experience of recent years, the number of repairs ordered by loyal customers was high during 2016, “the result of the recognition by shipowners of the quality of the work performed,” said the Portuguese enterprise. “This maintains the brand image of Lisnave.”

Through the year, Teekay based in Singapore and Norway docked eight vessels and Tsakos Columbia Shipmanagement of Greece docked six vessels. Singapore-based AET Tankers and the Venezuelan PDV Marina put in four vessels each.

Of the major works carried out, the highlights were the Tokyo Spirit and Nordic Spirit operated by Teekay, the Zeus and Proteo from PDV Marina, the Fortaleza Knutsen and the Recife Knutsen from KNOT and dredgers Gerardus Mercator and Kaishuu from Jan de Nul.

Financial results are due to be released to Lisnave shareholders on March 23 2017.

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