STX Finland 1

STX Finland

STX Finland Oy

Industry Shipbuilding

Founded 1989

Headquarters Turku, Finland.

Products cruise ships, ferries, arctic vessels

Parent STX GroupSTX Europe

Website www.stxeurope.com [1]

MS Freedom of the Seas under construction atAker Yards in Turku in 2006.

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

History

STX Finland Oy is a descendant of different shipyard companies.Wärtsilä operated the shipyards of Helsinki and Turku since the 1930s.Wärtsilä's shipbuilding division went bankrupt in 1989 after mergingwith Valmet shipyards. Masa-Yards was established by Martin Saarikangas with financing from the shippingcompanies to finish the ships under construction, eventually taking over the operations of Wärtsilä's formershipyards. In the mid-90s Kvaerner purchased Masa-Yards and Kvaerner Masa-Yards was born. In 1991 theshipbuilding 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 andAker Finnyards merged to form the "new" Aker Finnyards Oy. The name of the company was changed to AkerYards Oy on 7 June 2006, and to STX Finland Cruise Oy on 23 November 2008. Since september 2009 the companyhas been named STX Finland Oy.

STX Finland and its predecessors have built many luxurious cruise ships, including the very first modernpurpose-built cruise ship, the Song of Norway. Recent cruise ships built by the company include the two Oasis-classvessels, Oasis of the Seas (2009) and Allure of the Seas (2010) which currently hold the record for largest cruiseships in the world. STX Europe is also responsible for the largest cruiseferry in the world, Color Line's ColorFantasy, 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 a50% share in Arctech Helsinki Shipyard, a joint venture with United Shipbuilding Corporation.[3]

STX Finland 2

2012 funding crisisIn December 2012, STX Finland lost an order for a third Oasis-class cruise ship, worth nearly 1 billion euro, to STXFrance. For several months prior to this, the shipbuilding company, the Cabinet Committee on Economic Policy andthe Minister of Economic Affairs of Finland had been in talks for financing the newbuilding, and the governmentofficials were expected to present Royal Caribbean with an attractive financing package to stimulate economicgrowth and ensure employment as the order would have provided work for the Finnish Maritime Cluster for 12,000man-years.[4][5] However, on 23 November it was reported that the Cabinet Committee had refused to finance theloan for the order.[6] Through December, STX Finland and the potential order for the third Oasis-class vessel was inthe Finnish news almost daily while the Government debated whether or not grant a 50 million euro loan to theshipyard. One of the reasons why the loan was not readily given was the poor financial situation of the parentcompany, STX Corporation. On 21 December, the Government of Finland again refused to loan money to theshipyard, 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 thegovernment-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 inproduction, was tied to the funding of the third Oasis-class cruise ship. Since the order was awarded to the Frenchshipyard, STX Finland had to apply for a separate financing from the government-owned export credit companyFinnvera. However, on 12 January 2013 it was reported that it would not be granted due to the poor financialsituation of the STX Corporation. If funding is not obtained, there is a danger that the shipyard, which has no otherships in its orderbook, will be closed.[9][10]

Delivered CraftThis transport-related list is incomplete; you can help by .

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 3

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). CruiseBusiness Review, 3 October 2012. Retrieved on 2012-10-05.

[6] Saarikangas laivatilauksesta: Vireillä 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 tyrmäsi 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 on2012-12-21.

[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 on2012-12-28.

[9] HS: Turun telakka pahoissa vaikeuksissa - voi menettää kaksi risteilijätilausta (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 on2013-01-12.

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

Article Sources and Contributors 4

Article Sources and ContributorsSTX 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 ContributorsImage: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:PhiLiPFile: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 CommonsAttribution-Sharealike 3.0  Contributors: MattiPaavola

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