What Tersan Havyard does

Tersan Havyard (legal entity Havyard Leirvik AS) is a Norwegian combination shipyard founded in 1918 and based in Leirvik i Sogn, operating an integrated yard of approximately 98,000 m² that includes a built-in drydock (130m x 20m), 220m of quay, and heavy-lift crane capacity up to 100 tonnes. The yard delivers four core service lines: newbuild construction, vessel conversion (including hybrid-electric retrofits), dry-dock repair and maintenance, and rapid-response onboard service. Following its 2024 acquisition by Tersan Shipyard (Turkey), the operating model splits hull production in Turkey from outfitting, systems integration, and commissioning at Leirvik, enabling parallel execution of 3–6 projects with a workforce that scales from ~160 permanent staff to nearly 400 including subcontractors.

The company's technical differentiation centers on diesel-electric hybrid propulsion and large-scale battery integration, including ferries with up to ~8000 kWh battery capacity (the largest among Norwegian ferries), integrated ROV control systems, and offshore-grade deck equipment such as 200 tonne-meter knuckle boom cranes and heavy-duty anchor handling gear. Core customers are Norwegian public-transport ferry operators (Norled, Fjord1) and aquaculture service operators (Nordlaks), with delivery track records spanning 150+ newbuilds historically and 13 electric ferries since 2017. Major contracts include a NOK 1+ billion agreement with Norled for 3+1 hybrid battery ferries (deliveries from 2027) and a contract with Fjord1 for the hybrid-electric conversion of three ferries.

Revenue is generated through project-based, quote-priced contracts with multi-year execution cycles, sold through a direct enterprise sales motion (Sales Manager, Bid Manager, VP Sales) supplemented by participation in maritime trade shows (Nor-Shipping, ONS). The company is ISO 9001:2015 and ISO 14001:2015 certified. Pricing is not publicly disclosed; the orderbook is anchored by a small number of large, multi-year public-transport ferry contracts, with secondary revenue from aquaculture newbuilds, repair/maintenance dry-dock work, and onboard service agreements.

Name

Tersan Havyard

Legal name

Havyard Leirvik AS

Website

https://tersanhavyard.no

Company type

Private

Founded year

1918

Operating status

Operating

Headcount range

51–100 employees

Short description

Tersan Havyard is a Norwegian combination shipyard in Leirvik i Sogn delivering newbuild, conversion, repair, and onboard service for ferries, offshore, and aquaculture vessels. It serves Norwegian ferry operators (Norled, Fjord1) and aquaculture companies (Nordlaks) with diesel-electric hybrid and battery-electric vessels, leveraging integrated hull construction in Turkey and outfitting in Norway.

Ownership category

akta.pro rank

Headquarters

HQ city

Leirvik I Sogn

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Newbuild (Nybygg): Design, construction and delivery of new vessels across multiple segments: electric and hybrid ferries, offshore support vessels, aquaculture service vessels, transport and fishing vessels. Projects span from initial hull construction (in Turkey) to full outfitting and commissioning in Leirvik.
2. Conversion and Upgrade (Ombygging): Conversion of existing vessels including electrification upgrades, battery installations, delousing system installations, and gangway installations. Projects range from small modifications to large-scale electrical conversion of diesel ferries to hybrid-electric operation.
3. Repair and Maintenance (Reparasjon og vedlikehold): Drydocking of all vessel types for maintenance, class surveys, repairs, and inspections. Services include quick turnaround and flexible delivery at agreed costs.
4. Onboard Service (Ombordservice): Rapid response service with highly qualified professionals dispatched to resolve issues on-site. Includes procurement support for equipment and materials for vessels in operation under service agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Tersan Havyard designs, builds, converts, and repairs vessels — primarily electric and hybrid ferries, offshore support vessels, aquaculture service vessels, transport and fishing vessels. The integrated yard combines hull production at Tersan Shipyard (Turkey) with outfitting, commissioning, drydocking, and onboard service at the 98,000 m2 Leirvik facility in Norway. Over 150 newbuilds have been delivered historically, including 13 electric ferries since 2017.

Product overview

Tersan Havyard is a full-service shipyard offering an integrated portfolio of vessel construction, conversion, repair, maintenance, and onboard service solutions. The company operates as a combination yard handling newbuilding, retrofit, and service projects with facilities in Leirvik, Norway, and through collaboration with Tersan Shipyard in Turkey. Core offerings include newbuild vessel construction across offshore, aquaculture, and transport segments; conversion services including hybrid-electric and battery installations; dry-dock repair and maintenance; and rapid onboard service support. With an indoor dry dock, 220m of quay, and capacity for 400-600 workers across 3-6 simultaneous projects, the yard has delivered over 150 newbuilds historically and 13 electric ferries since 2017.

Differentiator

Problem solved

Functional benefit

Products and services

• Nybygg (Newbuild) End-to-end construction of new vessels across offshore, well boats (aquaculture service vessels), transport, and fishing segments. Tersan Havyard delivers complete newbuilds from hull production (at Tersan Shipyard in Turkey) to final outfitting and commissioning at the Leirvik yard in Norway, targeting ferry operators, aquaculture companies, and offshore vessel owners.
• Ombygging (Conversion) Vessel conversion services including electrification upgrades, battery installations, hybrid-electric propulsion retrofits, delousing system installations, and gangway installations. Delivered as a full-service package covering project management, procurement, engineering, and installation for ferry operators and offshore vessel owners seeking emissions reductions or capability upgrades.
• Reparasjon og vedlikehald (Repair and Maintenance)

Quantifiable outcome

• 13 electric ferries delivered since 2017; over 150 newbuilds delivered total across offshore, aquaculture, transport and fishing segments
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• Fjord1coreStrategic or Co-development Partner · 5 March 2025Fjord1 is a long-standing customer with a multi-decade relationship spanning 13 newbuilds and numerous service and conversion projects. Signed contract (March 2025) for conversion of three ferries (MF Losna, MF Hornelen, MF Nordfjord) to hybrid-electric operation for Vestland County routes. Conversion scope includes installation of hybrid-electric systems to meet environmental requirements.
• Tersan Shipyard (Turkey)flagshipStrategic or Co-development Partner · 24 November 2024Tersan Shipyard in Turkey is the parent/affiliated shipyard producing hulls for Tersan Havyard's newbuild projects. Both yards share the same owners and operate with aligned cultures and processes. Hull production takes place in Turkey, followed by outfitting and commissioning at Tersan Havyard in Leirvik, Norway. The first hull (B153) arrived in Leirvik November 2024; the second (B154) arrived January 2025. The collaboration enables competitive pricing while maintaining Norwegian quality standards.
• LMG Marin (Bergen)coreTechnology or Integration · 1 May 2024LMG Marin provides basic design for the Norled ferry projects (84.5m hybrid battery ferries). Delivered high-quality drawings on time, enabling approvals from NMA and DNV without delays. Tersan Shipyard handles detail design and hull construction; Tersan Havyard handles outfitting in Norway.
• NES (Norwegian Electric Systems)coreTechnology or Integration · 1 May 2024NES is a main supplier for the Norled ferry projects, providing switchboards, battery systems, and navigation and automation systems. Dialogue since contract signing in May 2024 has been strong, with testing and deliveries proceeding on plan.
• NorledcoreStrategic or Co-development Partner · 22 December 2023Norled is a long-standing ferry operator customer with 13 prior newbuilds from Havyard, plus multiple service and conversion projects. Signed intention agreement (December 2023) for 3 hybrid battery ferries (84.5m, 15m beam, 60 cars, 250 passengers, ~8000 kWh battery each) for Stokkevågen-Lovund/Træna routes from 2027, with option for one additional vessel. Hulls built at Tersan Shipyard Turkey, outfitting at Tersan Havyard Leirvik.
• NordlakscoreStrategic or Co-development Partner · 20 November 2023Nordlaks is an aquaculture company for whom Tersan Havyard built and delivered a new hybrid service vessel (B152/B153 series). The vessel features advanced diesel-electric hybrid propulsion (~1100 kWh battery), integrated ROV system, dual 200 tonne-meter cranes, and offshore-grade anchor handling equipment. Design by NSK Ship Design. Tersan Havyard handles hull production and complete outfitting at Leirvik.
• NSK Ship Design (Harstad)coreTechnology or Integration · 20 November 2023NSK Ship Design from Harstad provides vessel designs for Tersan Havyard newbuilds, including the hybrid service vessel for Nordlaks. Tersan Havyard handles complete project from hull production to final outfitting.
• MIL ShippingminorChannel Partner/ Reseller/ Distributor · 20 November 2023MIL Shipping acted as broker and facilitator in securing the Nordlaks newbuild contract. Enabled the deal between Havyard Leirvik and Nordlaks.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Westcon Yards: Norwegian shipyard group with yards in Florø, Stord, and Langsten providing newbuild, repair, and conversion services to offshore and fishing segments. Comparable in size and customer profile to Tersan Havyard.
• Kleven Maritime: Norwegian shipyard historically owned by the same group that once owned Havyard Leirvik. Builds offshore vessels, ferries, and aquaculture vessels in Norway, with comparable yard capacity and customer base among Norwegian operators.
• Brødrene Aa: Norwegian carbon-fiber ferry builder known for fast ferries and the Future of the Fjords series. Competes for hybrid and high-speed ferry tenders from Norwegian operators, including Norled.
• Båtservice Verft: Norwegian shipyard in Aalesund region providing repair, maintenance, and conversion services for offshore and fishing vessels. Comparable in service offerings (repair, conversion, onboard service) to Tersan Havyard's non-newbuild revenue streams.
• Ulstein Verft: Norwegian shipyard specializing in offshore support vessels, ferries, and expedition cruise ships. Comparable yard facilities in Norway and overlapping customer base among Norwegian shipowners in offshore and ferry segments.
• Fjellstrand: Norwegian aluminum ferry and fast-craft builder historically associated with Kværner. Direct competitor for Norwegian ferry electrification tenders and operator contracts including those served by Norled and Fjord1.

Emerging players

• Havyard Group: Related Norwegian maritime technology and design company historically connected to Havyard Leirvik through shared founder Per Sævik. Provides ship design and hybrid system technology that overlaps with Tersan Havyard's hybrid-electric ferry expertise.

Others

• Norwegian Electric Systems (NES): Strategic supplier partner of Tersan Havyard on the Norled ferries, providing switchboards, battery systems, and automation. Adjacent technology ecosystem participant in Norwegian maritime electrification rather than a direct competitor.

Broad incumbents

• Vard (Fincantieri): Global offshore and specialized vessel builder with yards in Norway, Romania, and Brazil. Larger incumbent serving the same offshore vessel and ferry markets with broader portfolio including cruise, naval, and offshore wind vessels.
• Aker Yards (now Vard-related): Historical Norwegian shipbuilding conglomerate that owned Tersan Havyard's predecessor (Havyard Leirvik under Kværner). Large incumbent with full-spectrum vessel capabilities competing for both Norwegian and international contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/tersanhavyard
• Facebookfacebook.com/havyardleirvik.no

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tersan Havyard