In line with the contract, Severnav is due to build a river barge hull due to be delivered is 2024.
In September 2023, Severnav also announced a contract worth EUR2.8 million for the construction of a hull and the buyer was Rensen Driessen Shipbuilding BV, a Dutch-held shipbuilder which had also concluded contracts with shipbuilder Santierul Naval Orsova (SNO.RO).
In the first half of 2023, Severnav cut its loss from RON11.3 million to RON3.6 million, its turnover plunged 13.9% to RON42.9 million and its operating expenses dropped 6.8% to RON46.4 million.
The company, with a market capitalization of RON31.4 million, is 41.84%-owned by Beo Trade Com, 29.95% by Constantin Georgescu and 16.3% by freight carrier CFR Marfa.
SEVE shares have lost 8.4% so far in 2024, amid deals worth RON34,200, as per stock market data.