As it gradually became necessary to change from building ships of wood to ships of steel, and therefore to engage in costly investments, the shipyard in 1898 became a joint-stock company, namely "A/S Framnæs mek. Værksted". Christen Christensen remained its dominating shareholder, as his descendants have been since then. From 1899 to his death in 1923 he was chairman of the company. Director of the shipyard for 47 years was the engineer Ole Wegger (1859 - 1936). Christensen was also the founder, main shareholder and chairman of the world's largest seal-hunting company, "A/S Oceana", established in Sandefjord in 1887 and registered in Sandefjord in 1891. Christen Christensen's biggest contribution was in the whaling business, as he started whaling in the Antarctic.