EC To Investigate Spanish Payments

Wednesday, July 12, 2000
The European Commission will open a formal investigation into plans by Spanish state holding company SEPI to pay $57 million (10 billion pesetas) to buy a number of shipyards as part of a restructuring plan. "On the basis of the information at its disposal the Commission doubts whether this was a genuine market transaction, but rather a capital injection that could constitute state aid," the Commission said in a statement.

The Commission noted it had already cleared an aid package for the Juliana and Cadiz shipyards in 1997 on condition they received no further state handouts.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Groups Seek US SEC Probe of Shell Arctic Drilling Risk Disclosures

An environmental group and a law clinic petitioned the U.S. Securities and Exchange Commission to investigate whether Royal Dutch Shell has adequately disclosed

De Beers Confirms Kleven Newbuild Contract

Norwegian shipbuilder Kleven announced its contract with De Beers Marine Namibia, part of De Beers Group, for the building of a specialized vessel for deep water mineral exploration,

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

Finance

Committee to Consider Coast Guard Authorization Bill

The U.S. Committee on Transportation and Infrastructure, chaired by U.S. Rep. Bill Shuster (R-Pa.), will mark up legislation this week that authorizes United States

Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes

Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May.   There

Canada Invests In Port Lambton Rescue Station

Inshore Rescue Boat Station upgraded as part of federal infrastructure commitment   On behalf of the Honorable Gail Shea, Minister of Fisheries and Oceans, Pat Davidson,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar
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: 0.1259 sec (8 req/sec)