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Noryards BMV bankrupt

Another Norwegian yard has declared itself bankrupt. 96 employees have lost jobs following the news Bergen-based Noryards BMV has folded, having failed to reach a debt settlement with creditors.

Noryards BMV, whose heritage dates back to the 1870s, is part of the Noryards group of shipyards, which is owned by the Ukrainian oligarch Konstantyn Zhevago through a Luxembourg registered company, Calexco. Noryards BMV focused mainly on OSVs.

Another shipbuilder belonging to Zhevago, Noryards Fosen, was decalred bankrupt last October.

 

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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