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.