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Lisnave's Activity 2018

Lisnave successfully concluded during 2018 repairs in 85 vessels, 83 of which required docking. The past year confirmed the tendency of increase of number of vessels repaired with an increase of 10% when compared with 2017. Consequence of the continuing reduction of freight values in the tanker market, the main market for Lisnave representing over 50% of the total number of vessels repaired, the average volume of work per vessel in the routine dockings suffered a small reduction.

During 2018 Lisnave continued to be actively involved with the retrofitting of Ballast Water Management Systems, with the completion of the fifteenth installation of systems from several manufacturers in vessels from Norwegian, Japanese, Cypriot and Belgian Owners.
Following the tendency from last years, the Tanker and Bulker markets were the most significant market segments for Lisnave representing 60% of its activity. Notwithstanding this, the continuing efforts to diversify its activity resulted in a relevant share of Container carriers repaired, representing 18% of the total activity of Lisnave. More specialised vessels like dredgers, DP crane vessel and FFPV units have also called Lisnave for docking and repairs during 2018, in addition to the increasing number of passenger vessels.
Considering the globalization of the ship maintenance and repair market, the vessels repaired during 2018 originated from 58 different clients located in 22 countries. The geographical distribution was led by Greece with 13 vessels, Norway with 9 vessels and Germany also with 9 vessels.

Confirming the results of previous years, the high number of repeat customers during 2018 reveals the recognition of the quality of the service level provided to Owners by Lisnave in Mitrena ship repair yard located in Setúbal.

Although the pressure on ship repair prices continues to increase resulting from the continued increase of capacity and activity in ship maintenance and repair centres in countries with manpower cost significantly lower than Portugal, it is expected that the need to reduce idle time of vessels will lead to an increase of activity for repair shipyards in Europe during 2019.
This article in Portuguese