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

Shipbuilding

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

RIMPAC Exercise Puts LCS Through Paces

It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that,

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

Education/Training

EU Warship Provides Seychelles CG Training

EU Naval Force Warship 'FGS Berlin' has conducted local maritime capacity building in the Seychelles informs EUCAP Nestor. Three Local Maritime Capacity Building

Videotel Updates 'Fire Fighting at Sea' Training

Maritime e-Learning provider Videotel, part of KVH Industries, says that it has launched an updated five-part series 'Fire Fighting At Sea', with the support and

VIKING Steps Up Pace of Innovation at SMM

This year’s SMM in Hamburg will see VIKING release more innovations than at any other point in its 50-year history, including new developments in PPE clothing,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1742 sec (6 req/sec)