Kleven Files for Bankruptcy

Kleven Vertf

Kleven Verft in Norway has filed for bankruptcy protection today, according to Norwegian press reports.

The shipyard, which also ran into financial difficulties two years ago, was then taken over by Hurtigruten, which in turn transferred ownership the Croatian DIV Group this past January.

Kleven recently completed the Roald Amundsen and Fridtjof Nansen expedition vessels for Hurtigruten.

Its previous difficulties were linked the downturn in the offshore industry.

According to Norwegian media, the yard’s lenders cancelled credit agreements in June and froze the company’s bank accounts. The CEO and vice president of finance reportedly resigned in June.

The Div Group also owns the Brodosplit shipyard and has previously expressed hopes that the two yards together would offer economies of scale and lower the cost of production and financing.

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