Fincantieri and Damen eye Uljanik

Europe’s largest shipbuilding groups are taking a look at investing in Croatia’s struggling Uljanik shipyard. Both Fincantieri of Italy and Dutch group Damen have been linked with taking part in the recapitlisation of the Pula-based yard, as have Naples-based Palumbo Group and local businessman Danko Končar.

Last month the Croatian government granted a state guarantee on a €96m loan to the yard. The company, like many shipyards around the world, has seen its orderbook dwindle in recent years. It has 12 ships to build on its books through to the end of next year.

The loan will enable Uljanik to pay wages, suppliers and other urgent liabilities over the next months and prevent it from going out of business, while preparing a restructuring plan.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button