Commission Initiates Investigation of Proposed Italian State Aid

Friday, December 21, 2001
The Commission has decided to initiate the formal investigation procedure(1) of a draft Italian aid scheme granting an incentive to shipowners for the elimination of single hull tankers over 20 years of age. The Commission welcomes the objective of the proposed aid, which aims at implementing Community maritime safety legislation and achieving higher safety standards in maritime shipping. However, further clarification of the notified scheme's guarantees in terms of protection of the environment and re-investment conditions is needed.

Italy has notified a draft aid scheme granting an incentive to ship owners for the elimination of single hull tankers over 20 years of age. Under the proposed scheme, shipowners who demolish old tankers equipped to transport crude oil or oil and chemical products would benefit from a maximum aid of just under 4 million € (7 500 million ITL). The proposed aid measure may benefit from a derogation under the Treaty and may be authorized if the positive impact on the environment does not unduly distort competition. Clarifications are however sought concerning the scheme's compatibility with Community guidelines or with established practices on environmental protection and safety. While recognizing the objectives of the proposed scheme, which indeed goes further than Community legislation requires, by encompassing a broader category of ships(2), the Commission is concerned that in its present form the lack of clear restrictions on reinvestments, for example on certain categories of single hull tankers, might lead to negative environmental side-effects or unduly distort competition.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Aker Philadelphia Shipyard ASA : Purchase of own shares

Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.

Suicide Attack Escalates Libya Violence, Oil Output Slips

Crude output slips for first time since port deal; fresh clashes in Tripoli and Benghazi. Brega oil port seen open in few days. A twin suicide bombing at a Libyan

Pier Damaged at Port Canaveral

Undergoing Repairs While Coast Guard Investigates   The U.S. Coast Guard is investigating a weekend incident that caused pier damage and scattered concrete debris in the harbor on Sunday.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
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: 0.2251 sec (4 req/sec)