Ship Subsidy Agreement Hammered Out In Brussels

Monday, June 26, 2000
The European Commission and South Korea have signed an agreement aimed at allaying European concerns that South Korean shipyards charge unfairly low prices, the European Union's executive body said. But the Commission said in a statement it has already asked for consultations with South Korea, as allowed for under the new agreement, "in order quickly to clarify several issues of concern and receive answers to key questions." These talks will take place in Seoul on July 18 and 19. The Commission gave no details of what it wanted to discuss. "The Commission considers that the full implementation of Korea's commitments will constitute the effective means to avoid a potential dispute between the EU and Korea in shipbuilding and (to) work together towards a fair and competitive world shipbuilding market," it said. The 15-nation EU and the South Korean government began talks last December on shipbuilding after the Commission accused South Korea of using International Monetary Fund aid received after the 1997 Asian financial crisis and other subsidies to undercut European shipbuilders. South Korea denied the charge. The agreement, agreed in April, aimed to stabilize the world shipbuilding market, which the EU says suffers from over-capacity and steadily falling prices. The pact contains a pledge not to subsidize shipbuilding, and commitments to transparency and commercial pricing. It provides a consultation mechanism allowing either side to request talks if they feel the agreement is not being respected.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

SSI Webinar: ShipConstructor MarineDrafting

As part of its Technical Webinar Series, SSI will host a ShipConstructor MarineDrafting Product webinar on Wednesday, September 24, 2014 from 8-9 a.m. (PDT).  The

Seaspovill Orders Second Damen Fast Ferry

South Korean operator Seaspovill signed its second contract for a Fast Ferry with the Netherlands-based shipbuilder Damen Shipyards Group. The Fast Ferry 4212 -

MacGregor Wins RoRo Cargo Access Equipment Order

MacGregor has won an order from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea for the design and delivery of MacGregor RoRo cargo access equipment.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1637 sec (6 req/sec)