Denmark: AP Møller Maersk has announced that the Odense Steel Shipyard will discontinue shipbuilding activities after its last newbuilding order is delivered in February 12.
"Regardless of the major efforts to improve the competitiveness at Odense Steel Shipyard with investments in new technology and streamlining of the production, the shipyard has run up very considerable annual deficits and must realise that it is impossible to attract orders," said a statement.
The first redundancies of approximately 175 employees are expected to take place from the end of August this year.
"With the discontinuation of the shipbuilding activities at Odense Steel Shipyard, there is no longer a need for ownership of the Lithuanian shipyard, Baltija Shipyard. The company is therefore put up for sale," said the statement.