Construction, Employment, Estonia, Transport

The management board of the shipyard commented in the annual financial report on the year 2009 that the growth in profits was caused by the completed orders on solid bulk carrier vessels and military vessels, contracts on which were concluded in the year 2008.

At the same time, the company’s leadership noted that in March 2009, orders for two solid bulk carriers from the parent company fell through and hence the subcontracting work from AS Loksa Laevatehas was also cancelled. This in turn led to a dramatic decline in the labour force volumes in May and in March and hence the company had its employees take a forced vacation of six weeks.

Loksa Shipyard also sent back 70 migrant workers in April.

In 2009, the turnover generated by the enterprise fell by nearly a half – form 629 million kroons to 377 million, mostly because the turnover no longer reflects the outcome of sales of metals.

The average number of employees on Loksa Shipyard’s payroll in 2009 was 588.