KARSTENSENS SKIBSVÆRFT A/S

What KARSTENSENS SKIBSVÆRFT A/S does

Karstensens Skibsværft A/S is a privately held, third-generation family-owned Danish shipyard founded in 1917 and headquartered in Skagen, Denmark, operating as part of the Karstensen Gruppen corporate structure. The shipyard designs, builds and repairs fishing vessels (primarily pelagic trawlers and snurpers of 70-90m, plus whitefish trawlers of 20-40m), naval vessels, small to medium ferries and luxury yachts, with in-house design capabilities and a maximum vessel capacity of approximately 135m in length and 7,500 tons. Core customers are Nordic fleet operators across Denmark, Norway, Sweden, Iceland, the Faroe Islands, Greenland and the United Kingdom, with the Danish Defence Ministry as a newly added major customer through the Orlogsskibe Danmark consortium.

The business operates a vertically integrated production model. Steel hulls are fabricated at the wholly-owned Karstensen Shipyard Poland subsidiary (facilities in Gdynia and Gdansk acquired in 2018 and 2022 from Vistal Offshore) and towed to Skagen for outfitting, while KS Elektro A/S (established 2016) provides in-house maritime electrical and electronics installation. The group also includes Nuuk Yard in Greenland and the Danish Yacht subsidiary. Annual throughput consists of 5-7 newbuilding deliveries and 100-150 repair or conversion projects.

Revenue is generated primarily through bespoke newbuilding contracts, with individual large pelagic trawlers priced in the DKK 200-300 million range, and through professional services for repair and conversion work. Karstensen Gruppen reported record-high revenue of DKK 2 billion in FY2025 alongside an order backlog of 19 new vessels worth DKK 5.6 billion securing employment through 2028. The group employs approximately 700 staff across all subsidiaries, including roughly 375 at the main Skagen yard, and operates a direct sales-led go-to-market model with no intermediaries. Distribution is concentrated in Scandinavia, the broader Nordic region, the Baltic and the North Atlantic.

Name

KARSTENSENS SKIBSVÆRFT A/S

Legal name

Karstensens Skibsværft A/S

Website

https://karstensens.dk

Company type

Private

Founded year

1917

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Karstensens Skibsværft is a third-generation Danish family-owned shipyard founded in 1917 that designs, builds and repairs fishing vessels, naval ships, ferries and yachts up to 135m for Nordic fleet operators and the Danish Defence Ministry.

Ownership category

akta.pro rank

Product category

Commercial Shipbuilding and Ship Repair

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Dry Docking & Hull Steelwork Repair (IMAJAFAA)

akta.pro secondary industries

Commercial Ship Repair & Drydocking (TLAKAKAA), Naval & Government Vessel Maintenance & Modernization (TLAKAKAB), Mechanical Systems Repair (Engines, Propulsion, Pumps) (TLAKAKAF), Underwater Hull Inspection, Cleaning & Propeller Services (TLAKAKAJ), Luxury Yacht Refit, Rebuild & Lifecycle Upgrades (MRO) (IMAJAMAJ)

Keywords

• Fishing vessel construction
• Ship repair services
• Naval shipbuilding
• Pelagic trawler building
• Ferry construction

Headquarters

HQ city

Skagen

HQ country

Denmark

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Newbuilding: Construction of new vessels including fishing vessels (pelagic trawlers, whitefish trawlers), naval vessels, ferries, and yachts. Vessels up to approximately 135m in length. Hull production partially conducted at Polish subsidiary.
2. Ship Repair and Conversion: Ship repair services and conversion/lengthening projects. The yard performs 100-150 repairs and conversions annually on various vessel types.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Karstensens Skibsværft A/S designs, builds, and repairs fishing vessels (pelagic trawlers, whitefish trawlers, purse seiners), naval vessels, ferries, and yachts up to approximately 135m in length from its main shipyard in Skagen, Denmark. The company delivers 5–7 newbuildings per year and performs 100–150 ship repair and conversion projects annually. Operations span the entire vessel lifecycle from in-house design through steel hull production in Poland to outfitting and delivery in Skagen, supported by wholly-owned subsidiaries for hull production, electrical systems, Greenland operations, and yacht construction.

Product overview

Karstensens Skibsværft A/S is a traditional Danish shipyard founded in 1917, specializing in new building and repair of vessels up to approximately 135m in length. The company operates as part of Karstensen Gruppen, which includes subsidiaries: Karstensen Shipyard Poland (hull production in Gdynia), KS Elektro (electrical/electronics systems), Nuuk Yard (Greenland operations), and Danish Yacht (yacht building). The shipyard's primary products include Pelagic Trawlers (their main focus with 70-90m vessels featuring RSW systems), Whitefish Trawlers (20-40m bottom fishing vessels), Naval Vessels (through consortium Orlogsskibe Danmark), Ferries, and Yachts. The company also offers comprehensive ship repair and conversion services. With approximately 375-550 employees and annual production of 5-7 newbuildings and 100-150 repairs, Karstensens is recognized as a leading builder of larger pelagic fishing vessels in Scandinavia.

Differentiator

Problem solved

Functional benefit

Products and services

• Pelagic Trawler Newbuildings Large custom-built fishing vessels (typically 70–90m) designed in-house for catching pelagic species such as herring, mackerel, and blue whiting using purse seine and trawl nets. Equipped with RSW cooling systems and advanced fish handling equipment. Sold to commercial fishing operators in Scandinavia, Iceland, Faroe Islands, UK, and other North Atlantic regions.
• Whitefish Trawler Newbuildings Fishing vessels typically 20–40m specialised for bottom-dwelling species such as cod, haddock, and plaice. Custom-designed for commercial fishing operators.
• Naval Vessel Newbuildings (Orlogsskibe Danmark) Military-grade vessels for the Danish Navy including patrol, environmental, and minesweeping ships, constructed in partnership with OSK Design and Hvide Sande Shipyard under the Orlogsskibe Danmark consortium. Sold to government/defence clients.
• Ferry Newbuildings Small to medium-sized passenger and vehicle ferries designed and built for ferry operators, focused on passenger safety, capacity, and operational efficiency.
• Yacht Newbuildings

Quantifiable outcome

• 5-7 newbuildings delivered annually
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Orlogsskibe Danmark Consortium (OSK Design, Karstensens Skibsværft, Hvide Sande Shipyard)coreStrategic or Co-development Partner · 1 July 2026Danish consortium formed for Danish Navy vessel contract worth 1.9 billion DKK. OSK Design provides vessel design while Karstensens Skibsværft and Hvide Sande Shipyard handle construction. The consortium represents approximately 75% of total newbuilding tonnage on Danish shipyards.
• KS Elektro A/ScoreStrategic or Co-development PartnerSubsidiary company established 2016 providing maritime electrical and electronics solutions. Primary supplier for electrical installation on Karstensens newbuildings. Offers services including energy optimization, LED retrofit, switchboard production, and electronics installation.
• Karstensen Shipyard PolandcoreStrategic or Co-development PartnerSubsidiary established 2018 for hull production. Took over Vistal Offshore facilities in Gdynia. Hulls built in Poland are then towed to Skagen for outfitting. First hull was #450 LUNAR BOW.
• Nuuk VærftminorStrategic or Co-development PartnerSubsidiary shipyard operation in Greenland, part of Karstensen Gruppen.
• Danish YachtminorStrategic or Co-development PartnerSubsidiary within Karstensen Gruppen focused on yacht construction.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Hvide Sande Shipyard: Danish shipyard also building fishing vessels and the other construction partner in the Orlogsskibe Danmark consortium alongside Karstensens. Most directly comparable peer in terms of vessel size, customer base, and geography.
• Simek: Norwegian shipyard with a long track record building fishing vessels and offshore service vessels for Nordic and international owners. Comparable in vessel type mix and customer base to Karstensens.
• Tersan Shipyard: Turkish shipyard with significant fishing vessel and vessel conversion programmes. Competes with Karstensens on mid-size vessel newbuilds and repair/conversion work, especially for European owners.
• Fiskerstrand Verft: Norwegian shipyard that builds fishing vessels, ferries, and specialised vessels for Nordic owners. Closely comparable in vessel size envelope and customer segment to Karstensens' Skagen operations.
• Astilleros Armón: Spanish shipbuilder with strong fishing vessel (trawler, purse seiner) and offshore vessel programmes serving European owners. Direct competitor in the European mid-size fishing vessel market.

Broad incumbents

• Damen Shipyards: Large Dutch shipbuilding group with a broad workboat, fishing, ferry and naval portfolio. Overlaps with Karstensens on ferry building, naval auxiliaries and ship repair, albeit at much larger scale and broader geography.
• VARD: Major Norwegian shipbuilder (formerly STX Europe, now part of Fincantieri) with a broad offshore and fishing vessel portfolio. Comparable in build capacity and pelagic/offshore vessel offerings but operates at much larger scale across more segments.

Regional players

• Westcon Yards: Norwegian group with yards building offshore service vessels and fishing vessels for North Sea and Nordic operators. Comparable in vessel types and customer geography to Karstensens.
• Kleven Maritime (now Vard): Norwegian yard historically focused on offshore support and fishing vessels; now integrated into Vard. Comparable building programmes for pelagic and offshore fishing tonnage serving Nordic owners.

Emerging players

• Coey Boatworks / Ulstein Verft: Norwegian yard building specialised vessels including offshore and fishing-related newbuilds, competing for similar Nordic owner relationships as Karstensens.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pages/Karstensens-Skibsv%C3%A6rft-AS/795243347262942

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 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 KARSTENSENS SKIBSVÆRFT A/S