Riga Shipyard in Latvia has launched its third vessel this year.
The fishing trawler "Helena Matte" was commissioned by a Danish company, which will fit out the vessel with electric, communications and control equipment, after it has been towed to its destination in Denmark.
Project director at the Riga Shipyard Andrejs Roslovs explained that so far the shipyard has managed to avoid the impacts of the economic crisis and continues working normally. However, Mr Roslovs forecasts that the company will have to face some problems in the last quarter of the year if it does not manage to sign more ship building or repair contracts.
In 2008, Riga Shipyard repaired 100 ships, up by 19 from the previous year. This year the shipyard plans to continue investing in new technologies, changing its out-dated machinery and in reconstruction works, which will improve efficiency.
