Fearnleys Venture Sights on Eastern Europe Yards

Oslo-based broking shop Fearnleys has started a joint venture with two shipbroking brothers to target the newbuilding market in Russia and the Ukraine, reports TradeWinds. 

MIL Shipping is a 50/50 venture between Fearnleys and Harald F Askvig and Erick C Askvig. 

According to TradeWinds, Erik Askvig is particularly enthusiastic about the future prospects for the Ukrainian yards that have been privatized. A yard like Kherson has got contracts to build 10 offshore hulls, according to him. The Zaliv yard has also started getting hull orders. 

The Ukrainian shipyards have not built complete ships in more than 10 years but Askvig suggests the construction of hull is only the first step toward a return to complete shipbuilding.