August 31st, 20180The workers of financially troubled Croatian shipyard Uljanik will end their strike today as the government stepped in to solve payment issues. The shipyard announced yesterday that its bank account was unblocked while on the same day, Croatia’s prime minister said the government has found a model to pay the workers of Uljanik and...
August 29th, 20180The president of financially troubled Croatian shipyard Uljanik, Gianni Rossanda, has resigned as the ongoing worker strike at the shipyard over unpaid wages continues. According to Uljanik, Rossanda has quit from all the roles at the company and its subsidiaries. "I did not want to block the functioning of this complex system from...
August 23rd, 20180Around 4,500 workers at Croatia's largest shipbuilding group Uljanik went on strike on Wednesday demanding top management step down in protest over late payment. Uljanik, which has faced considerable financial difficulties in recent years, controls two yards in the northern Adriatic, in the cities of Pula and Rijeka. The company...
May 3rd, 20180The European Commission has approved a restructuring plan for Croatian bulker operator Jadroplov Shipping. The commission believes Jadroplov Shipping’s restructuring plan is in line with the EU state aid rules and has cleared HRK105.6m ($17m) in financial aid for the company. According to an EU statement, the company has been...
February 27th, 20180Croatian shipping company Uljanik Plovidba has sold 2006-built supramax bulk carrier to an undisclosed buyer. Uljanik Plovidba said the 53,700 dwt vessel is the oldest in its fleet and the disposal is in accordance with the company’s 2030 development strategy. According to VesselsValue, the vessel sold for a price of...
February 15th, 20180Contrary to what local unions in Croatia have been saying this week, Italy’s Fincantieri will not invest in Uljanik Shipyard. The Croatian shipyard needs an urgent capital injection of €450m ($555m). Naples-based Palumbo Group and local businessman Danko Koncar remain at the moment the only two players to have voiced publically an...
February 14th, 20180Europe’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...
January 23rd, 20180The European Commission has ruled Croatian plans to grant Uljanik shipyard a state guarantee for a €96m loan do not contravene EU state aid rules. The measure will allow the company to meet urgent liquidity needs while preparing a restructuring plan, whilst competition distortions are deemed limited. Commissioner Margrethe Vestager,...
January 4th, 20180Croatian shipyard Uljanik has received a letter of intent from Italian shipyard group Palumbo Group to participate in the process of restructuring and diversification of the company. Palumbo is the second potential strategic partner to show interest in Uljanik’s restructuring following Croatian multi-sector investment group Kermas...
September 19th, 20170Croatian state-owned company LNG Hrvatska is looking for counterparts for the development of a new LNG import terminal on the island of Krk. The Zagreb-based firm has just launched an invitation to interested parties to submit a request to participate in the procurement of works for the LNG terminal based on a floating storage and...
