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

Shipbuilding

Ultra-deepwater Drillship 'Maersk Valiant' Delivered

Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea.

Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard

In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson

Tsuneishi to build shipyard in Indonesia -

Philippine shipbuilder Tsuneishi Heavy Industries Inc plans to expand into Indonesia this year, said CEO Hitoshi Kono, adding that the firm plans to build a shipyard here.

Environmental

Miami Tugboat Oil Spill: Coast Guard Respond

The US Coast Guard says that its crewmembers are responding to a fuel spill in the vicinity of Government Cut in Miami, following a leak discovered aboard the 95-foot tugboat 'Neptune'.

California Port Seeks Public Feedback on Expansion Plans

The Port of San Diego apprises it is to host separate open house events for the public to provide feedback on its long-range vision and 'Integrated Port Master Plan Update' process.

Canada Opts Out of Arctic Council Meeting

Canadian Environment Minister Leona Aglukkaq stated that a principled stand had been taken by Ottawa against Moscow's intervention in events in Ukraine, reports

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1067 sec (9 req/sec)