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Shipyard uncovers accountancy mess worth millions

Norwegian shipbuilder Havyard Group, which is currently making several ships for Danish wind equipment carrier Esvagt, has uncovered serious discrepancies in its 2018 books. The company is now in dialog with both creditors and customers as its share price plunges Friday.

Esvagt's wind service vessel Faraday was built by Havyard Ships Technology in 2015. Havyard is currently constructing three ships for the Danish wind equipment carrier. | Photo: Esvagt

Norwegian shipbuilder Havyard Group, which is current making several ships for Danish wind equipment carrier Esvagt, has uncovered serious accountancy mistakes in its annual report.

Roughly one month after Havyard published its financial statement, management uncovered irregularities in the books – which have grave implications for the firm's finances.

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