EC Opens Aid Investigation

Thursday, February 23, 2006
The European Commission has launched a formal investigation under EC Treaty state aid rules into proposed regional investment aid of around $6.9 million to two German shipyards, Rolandwerft and Volkswerft Stralsund. The Commission needs to verify that the aid is limited to the modernization and upgrading of existing installations, as required by the rules governing state aid to shipbuilding, and that there will not be capacity increases in a sector cyclically suffering from over-capacity. The opening of a formal investigation will give interested parties an occasion to comment on the measures. It does not prejudge the outcome of the procedure. The proposed aid would be for investment to enable Volkswerft Stralsund to build larger ships. Investment costs amount to $22.3 million. Germany intends to support the project with $5 million, which corresponds to an aid intensity of 22.5%. For Rolandwerft , the proposed aid would be for the modernization and rationalization of certain parts of the yard and the construction of a quay. Project costs amount to $15.5 million, out of which Germany intends to finance $1.863 million, equal to an aid intensity of 12%.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


TMS Cardiff Gas Orders First LPG Carriers

TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two.

Japan’s First ME-GI Engine Passes Factory Tests

The factory acceptance test (FAT) of the first ME-GI engine in Japan recently took place at the Tamano Works of Mitsui Engineering & Shipbuilding Co., Ltd. (MES),

Damen's Third Ferry for South Korea

All good things come in threes as Damen delivers the third vessel of the year, from the Damen Fast Ferry (DFFe) series to South Korean operators. Having already


Debris Appears to Belong to Cargo Ship Missing in Bahamas

Search and rescue teams on Sunday located debris which appeared to belong to the cargo ship El Faro that went missing in the eye of Hurricane Joaquin with 33 mostly American crew members aboard,

New Chair for Townsville Port

The Palaszczuk Government has appointed one of Queensland’s most respected businesswomen, Renita Garard as the new Chair of the Port of Townsville. In a statement released earlier today,

Hempel at 'Danish Maritime Days' in Copenhagen

Hempel will take part in the Danish Maritime Days (DMD) event next week and make presentations at the DMD Technical Conference, which is being held in cooperation with Danish Maritime,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1310 sec (8 req/sec)