In 2002, Karstensens Skibsvaerft A/S acquired 50 % of the shares of a newly established company (shipyard), the Nuuk Vaerft A/S. The shareholder of the remaining 50 % was the Greenland Home Rule Government. The new company was based on the remainder of Amutsiviit, Nuuk, which had been owned by the Greenland Home Rule Government. In 2004, Karstensens Skibsvaerft A/S acquired the remaining 50 % of the shares, which means that Nuuk Vaerft is now a wholly owned subsidiary of Karstensens Skibsvaerft A/S.
Nuuk Vaerft A/S is a repair shipyard built around a 1,860 t slipway with side pulling to three smaller stands of 250 t. Today the total number of employees is 25, divided between the following departments: engineering, shipbuilding, boat building, slipway and warehouse. All types of ship repairs and services are carried out.