T
he vessels are intended to operate they’ve added in-house muscle to produce subject to US sanctions. Due to that state
both in the Arctic and Antarctic waters those ships. ownership, Helsinki shipyard had to live
as well as in the tropical waters during the
under a dark cloud for years – but now the
spring and autumn seasons. The first vessel NEXT CHAPTER sky is clear again, Rotkirch believes, since
is planned to be delivered in August 2021 Helsinki Shipyard CEO Carl-Gustaf Rotkirch Algador Holdings is a privately owned
and the second vessel in January 2022. says that shipyard is very proud and happy company that is not sanctioned in any way.
Helsinki Shipyard and Russia’s largest
for the first order of the shipyard.
“The slate has been wiped clean and
“This proves to everyone that we we can move on,” he says, adding that
a contract for these Luxury Expedition Ves- have started a new chapter in the oper- ‘business as usual’ is now very much the
sels last summer. Interestingly enough, the ation of the shipyard. We will strengthen mentality at the yard.
deal links directly with the recent own- especially our design department in the ership change at the shipyard: Algador near future and in connection with the OVERCOMING ADVERSITY
Holdings Ltd. purchased the shipyard from start of production, also our production Rotkirch credits the former CEO Esko Mus-
Arctech Helsinki Shipyard in May 2019, department,” he says. tamäki for having an extended dialogue
river cruise company Vodohod Ltd signed
and Vodohod is under the same owner-
ship.
As operations at the shipyard con- with the American authorities and find-
tinue, a collective sigh of relief can be ing out just what will it take to escape the
Basically, this means that the Russian heard from industry insiders. Helsinki came shadow of the sanctions. The US Office
owners of Algador – businessmen Rishat pretty close to losing its trademark ship- of Foreign Assets Control (OFAC) stated
Baugatdinov ja Vladimir Kasjanenko – have yard, since the previous operator, Arctech that at least half of the ownership must
a need for shipmakers due to their cruise Helsinki Shipyard, was owned by the Rus- be in the hands of some entity that is not
business and other marine interests. Now sian state company USC – and, as such, subject to sanctions. As Algador Holdings
26
seatec 2020