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

Shipbuilding

Great Lakes Shipyard to Build Guatemalan Harbor Tug

U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for

BAE Systems Welcomes Record Number of Paid Interns

More than 140 university students from across the country are being given a unique insight into working life at BAE Systems, as part of the company’s 12-week summer internship program.

Drydocks World World’s Largest Turret

Drydocks World marked a milestone in completing the world’s largest turret mooring system. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters,

Environmental

Shipyards Rising Competitive Stirrings

A mini order boom fueled by gas, “green-tech”, tankers and new rules is underway in shipbuilding. It won’t fill all yards, but changes like the July 2015 cap on

MES Delivers Bulk Carrier STH Athens

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. STH Athens (MES Hull No. 1898) at its Chiba Works on August 27,

Damen Delivers Ice Class Tug to Lithuania

The Damen Shipyards Group has delivered an ASD Tug 2810 ICE to Klasco Towage Assistance, an affiliate of Klaipeda Stevedoring Company (KLASCO). The largest tugboat

 
 
Maritime Security Maritime Standards Navigation Port Authority 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: 0.4061 sec (2 req/sec)