Wadan Yards Okean posts 2009's net loss at $16.5m

Net loss of Wadan Yards Okean for 2009 slightly increased as compared with 2008, to UAH132.27 million ($16,500,000). According to WYO’s 2009 operational results the Company has increased its net income as much as 2.78 times, to UAH 803.877 million vs 2008’s numbers.

Wadan Yards Okean OJSC (former Damen Shipyards Okean) specializes in manufacturing and repairing container ships, tankers, tugs, barges with a displacement of up to 350.000 tons. Okean BV (Netherlands) is a major stockholder with a 98.74% stake. Wadan Yards Okean ended up the 2008 financial year with UAH131.343m net loss having a year-over-year 42.25% drop in net income, at 289.172 million hryvnia.