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

BP Shipping Turns 100

BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group.   Formed on April 30, 1915 as the British Tanker Company,

Canada to Scale Back Plan for Navy Ships, Go Over Budget

Canadian officials said on Friday a C$26.2 billion ($21.5 billion) program to build 15 naval ships could end up below target and over budget, the latest challenge

US Navy is Buying the Wrong Ship, Costing Taxpayers Billions

The United States will spend $585 billion on its armed forces in 2015 — the biggest military budget in the world by far. That’s just the Defense Department budget

Education/Training

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

BSEE Dir. Salerno to Address Offshore Technology Conference

Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno will be traveling to Houston for the 2015 Offshore Technology Center May4-7 at NRG Park.

WISTA India's Workshop on Managing Customers

WISTA India proved that they are committed to enhancing skiil of all women in the Maritime Industry . On 17th April they organised a workshop on "Manage your

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1138 sec (9 req/sec)