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STX Finland Oy is a Finnish shipbuilding company with shipyards in Turku and Rauma. It has built many cruise ships, including Royal Caribbean's record-breaking Oasis-class vessels. In 2012, STX Finland lost a lucrative order for a third Oasis-class ship to a French shipyard after the Finnish government refused funding. This put jobs and future orders from STX Finland in jeopardy due to lack of funding from its parent company.

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352 views4 pages

STX Finland PDF

STX Finland Oy is a Finnish shipbuilding company with shipyards in Turku and Rauma. It has built many cruise ships, including Royal Caribbean's record-breaking Oasis-class vessels. In 2012, STX Finland lost a lucrative order for a third Oasis-class ship to a French shipyard after the Finnish government refused funding. This put jobs and future orders from STX Finland in jeopardy due to lack of funding from its parent company.

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martinimartiini
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STX Finland

STX Finland
STX Finland Oy
Industry Founded Shipbuilding 1989

Headquarters Turku, Finland. Products Parent cruise ships, ferries, arctic vessels STX Group STX Europe www.stxeurope.com [1]

Website

STX Finland Oy, formerly Aker Yards Oy, is a Finnish shipbuilding company operating two shipyards in Finland, in Turku and Rauma, employing some 2,500 people. It is part of STX Europe, a group of international shipbuilding companies owned by the South Korean STX Corporation.

History
STX Finland Oy is a descendant of different shipyard companies. MS Freedom of the Seas under construction at Aker Yards in Turku in 2006. Wrtsil operated the shipyards of Helsinki and Turku since the 1930s. Wrtsil's shipbuilding division went bankrupt in 1989 after merging with Valmet shipyards. Masa-Yards was established by Martin Saarikangas with financing from the shipping companies to finish the ships under construction, eventually taking over the operations of Wrtsil's former shipyards. In the mid-90s Kvaerner purchased Masa-Yards and Kvaerner Masa-Yards was born. In 1991 the shipbuilding businesses of Hollming Oy of Rauma and Rauma-Repola of Rauma were merged to form Finnyards.[2] This company was purchased by Kvaerner and became Aker Finnyards. In January 2005 Kvaerner Masa-Yards and Aker Finnyards merged to form the "new" Aker Finnyards Oy. The name of the company was changed to Aker Yards Oy on 7 June 2006, and to STX Finland Cruise Oy on 23 November 2008. Since september 2009 the company has been named STX Finland Oy. STX Finland and its predecessors have built many luxurious cruise ships, including the very first modern purpose-built cruise ship, the Song of Norway. Recent cruise ships built by the company include the two Oasis-class vessels, Oasis of the Seas (2009) and Allure of the Seas (2010) which currently hold the record for largest cruise ships in the world. STX Europe is also responsible for the largest cruiseferry in the world, Color Line's Color Fantasy, and her sister ship Color Magic that entered service in late 2007. The company is also the principal yard for the Finnish Navy and the world's leading builder of icebreakers. It has a 50% share in Arctech Helsinki Shipyard, a joint venture with United Shipbuilding Corporation.[3]

STX Finland

2012 funding crisis


In December 2012, STX Finland lost an order for a third Oasis-class cruise ship, worth nearly 1 billion euro, to STX France. For several months prior to this, the shipbuilding company, the Cabinet Committee on Economic Policy and the Minister of Economic Affairs of Finland had been in talks for financing the newbuilding, and the government officials were expected to present Royal Caribbean with an attractive financing package to stimulate economic growth and ensure employment as the order would have provided work for the Finnish Maritime Cluster for 12,000 man-years.[4][5] However, on 23 November it was reported that the Cabinet Committee had refused to finance the loan for the order.[6] Through December, STX Finland and the potential order for the third Oasis-class vessel was in the Finnish news almost daily while the Government debated whether or not grant a 50 million euro loan to the shipyard. One of the reasons why the loan was not readily given was the poor financial situation of the parent company, STX Corporation. On 21 December, the Government of Finland again refused to loan money to the shipyard, but offered a 28.3 million euro "innovation fund" if the ship, dubbed Sanctuary in the news, is ordered.[7] This was not enough, and on 27 December Royal Caribbean ordered the third Oasis-class cruise ship from the government-backed French shipbuilding company.[8] In addition, the financing package for the two cruise ships ordered by TUI Cruises, of which the first is already in production, was tied to the funding of the third Oasis-class cruise ship. Since the order was awarded to the French shipyard, STX Finland had to apply for a separate financing from the government-owned export credit company Finnvera. However, on 12 January 2013 it was reported that it would not be granted due to the poor financial situation of the STX Corporation. If funding is not obtained, there is a danger that the shipyard, which has no other ships in its orderbook, will be closed.[9][10]

Delivered Craft
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Turku
Oasis of the Seas and Allure of the Seas for Royal Caribbean International Viking Grace for Viking Line Meri for Gaiamare

MS Allure of the Seas (left) and MS Oasis of the Seas (right) under construction at the Perno shipyard in Turku

STX Finland

Rauma
Spirit of Britain and Spirit of France for P&O Ferries S. A. Agulhas II for South African Department of Environmental Affairs Mirabilis for Ministry of Fisheries and Marine Resources of Namibia

On order
Turku
Mein Schiff 3 and Mein Schiff 4 for TUI Cruises; see funding issues above

Rauma
Offshore patrol vessel for the Finnish Border Guard

References
[1] http:/ / www. stxeurope. com [2] (Finnish) Rauman seudun teollistuminen (http:/ / www. rauma. fi/ Raumanseutu/ Paikallishistorian_opetusmateriaali/ Rauman_seudun_teollistuminen. htm) [3] "Arctech Helsinki Shipyard To Build Sovcomflot Icebreaker Supply Vessels" (http:/ / www. shipbuilding-industry. eu/ shipbuilding_v2/ ?p=2981). . Retrieved 2010-12-18. [4] Finnish Authorities Discussing Financing Third Oasis-Class Vessel? (http:/ / www. cruiseindustrynews. com/ cruise-news/ 7967-finnish-authorities-discussing-financing-third-oasis-class-vessel. html) Cruise Industry News, 3 October 2012. Retrieved on 2012-10-05. [5] RCCL said to be close to order third Oasis class ship from STX Finland (http:/ / www. cruisebusiness. com/ index. php/ news-section/ top-headlines-category/ top-headlines-archive-category/ 2826-rccl-said-to-be-close-to-order-third-oasis-class-ship-from-stx-finland). Cruise Business Review, 3 October 2012. Retrieved on 2012-10-05. [6] Saarikangas laivatilauksesta: Vireill on jotakin, tilanne ei ole toivoton (http:/ / yle. fi/ uutiset/ saarikangas_laivatilauksesta_vireilla_on_jotakin_tilanne_ei_ole_toivoton/ 6391719). YLE, 26 November 2012. Retrieved on 2012-11-28. [7] Valtio tyrmsi Turun telakan hakeman lainan (http:/ / www. taloussanomat. fi/ kotimaa/ 2012/ 12/ 21/ valtio-tyrmasi-turun-telakan-hakeman-lainan/ 201244253/ 12?& n=3#commentsHere). Taloussanomat, 21 December 2012. Retrieved on 2012-12-21. [8] Royal Caribbean Orders Third Oasis-Class Ship from STX France (http:/ / www. cruiseindustrynews. com/ cruise-news/ 8471-royal-caribbean-orders-third-oasis-class-ship-from-stx-france. html). Cruise Industry News, 27 December 2012. Retrieved on 2012-12-28. [9] HS: Turun telakka pahoissa vaikeuksissa - voi menett kaksi risteilijtilausta (http:/ / www. iltasanomat. fi/ kotimaa/ art-1288531474086. html). Ilta-Sanomat, 12 January 2013. Retrieved on 2013-01-12. [10] STX:n Anttila: TUI:n laivasta 10 prosenttia valmiina, rahoitus alkaa 30 prosentissa (http:/ / www. ts. fi/ uutiset/ kotimaa/ 436899/ STXn+ Anttila+ TUIn+ laivasta+ 10+ prosenttia+ valmiina+ rahoitus+ alkaa+ 30+ prosentissa). Turun Sanomat, 12 January 2013. Retrieved on 2013-01-12.

External links
STX Finland (http://www.stxeurope.com/?page=109) Website of STX Finland

Article Sources and Contributors

Article Sources and Contributors


STX Finland Source: http://en.wikipedia.org/w/index.php?oldid=532722074 Contributors: Anthon.Eff, Aulis Eskola, Auntof6, Bobrayner, Brad101, Comar4, Dandv, Finavon, Fratrep, Gwafton, Hydrox, JamesAM, Karso, Kreegah, Magioladitis, Makele-90, Milkmooney, Ng.j, Njbob, Openbrain, Petri Krohn, Piisamson, PjotrMahh1, Rjwilmsi, STX Assistentti, Sladen, SwisterTwister, Tankiona, Tosalmi, Tupsumato, Woohookitty, Ziggymaster, 17 anonymous edits

Image Sources, Licenses and Contributors


Image:Freedom of the seas construction.jpg Source: http://en.wikipedia.org/w/index.php?title=File:Freedom_of_the_seas_construction.jpg License: Public Domain Contributors: User:PhiLiP File:Oasis and Allure at Turku dock Oct2009.JPG Source: http://en.wikipedia.org/w/index.php?title=File:Oasis_and_Allure_at_Turku_dock_Oct2009.JPG License: Creative Commons Attribution-Sharealike 3.0 Contributors: MattiPaavola

License
Creative Commons Attribution-Share Alike 3.0 Unported //creativecommons.org/licenses/by-sa/3.0/

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