EC Extends Shipbuilding Subsidies to LNG Carriers

Thursday, June 26, 2003
The European Commission (EC) has decided to extend the granting of temporary and limited state aids in the shipbuilding sector to liquefied natural gas (LNG) carriers. The action is being taken to offset perceived subsidies by South Korea to its shipyards. EU Trade Commissioner Pascal Lamy said: "Today's decision offers a temporary relief to European LNG shipyards which are facing serious difficulties, while Korea continues to price ships below cost. I trust the WTO will soon condemn these unfair practices and that Korea will put an end to them." This decision takes place after an in-depth investigation in the framework of the Trade Barriers Regulation has confirmed that Korean unfair practices have injured EU shipyards in this sector. Direct aid in support of contracts for the building of LNG carriers will now be authorized in accordance with the provisions of Council regulation (EC) No 1177/2002 of 27 June 2002 concerning a temporary defensive mechanism to shipbuilding. Such aid is already, since October 2002, authorized for containerships and product and chemical tankers." The principal provisions of the temporary defensive mechanism are the following: Maximum aid intensity of 6% of contract value; Scope now covering container ships; product and chemical tankers and Liquefied Natural Gas (LNG) tankers; Expiry of the Regulation: March 31, 2004 to take account of the time necessary for a WTO panel to reach its conclusions.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Shipping Industry Faces Major Dilemma on BWM

The Round Table (RT) of International Shipping Organisations (comprising BIMCO, the International Chamber of Shipping, Intercargo and INTERTANKO) is deeply concerned

New Ships Meet 2020 Design Standard

A new CE Delft study has revealed that many recently constructed ships already meet the International Maritime Organization’s (IMO) design efficiency standard for 2020, says Pan European Networks.

Austal Delivers Sixth Cape Class Patrol Boat

Austal Limited announced it has delivered Cape Leveque, the sixth of eight Cape Class Patrol Boats being supplied to the Australian Customs and Border Protection Service under a $330 million design,

Education/Training

Martek Launches On-board ECDIS Training

U.K.-based ECDIS manufacturer Martek Marine Ltd. has partnered with German ECDIS training supplier Safebridge GmbH and the ECDIS Training Consortium to deliver

IMCA Publishes Guidance on Simulator Usage

Simulators are used for many purposes in the offshore industry such as for work planning/mission planning purposes including engineering development, procedure development,

Carnival Orders Transas Simulators for CSMART

Carnival Corporation will utilize Transas simulators at the company's training facility in the Netherlands, where 6,500 deck and engineering of0ficers go through

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1073 sec (9 req/sec)