Romania's largest shipyard, busiest commercial shipbuilder in Europe

Daewoo Mangalia Heavy Industries (DMHI), Romania’s largest shipyard, currently has USD 1.34 billion ongoing contracts, which makes it the third largest shipyard in Europe by activity volume and the largest one on the commercial shipbuilding segment, according to Romania’s Economy Ministry. The shipyard is 51 percent controlled by South Korean group Daewoo, with the remaining 49 percent of its shares controlled by the Romanian state. “Even if we are minority shareholders, we must help the company become the strongest shipbuilder in the Black Sea region and in Europe,” said Romanian economy minister Constantin Nita, who visited the shipyard on Thursday, July 10. In 2013, the company had a turnover of EUR 271 million and losses of EUR 24 million. It employs 2,600 people directly, but supports a total of 6,800 workplaces directly and indirectly. The shipyard is working on large scale ships. It recently delivered the largest auto carrier ever built in the Black Sea and Mediterranean basin. Andrei Chirileasa, andrei@romania-insider.com