EU Approves State Aid to Modernize German Shipyard

Thursday, December 07, 2006
The European Commission said it has approved a $5.5m regional investment aid package for the German shipyard Volkswerft Stralsund. The commission said the investment will enable the yard to build larger ships at competitive costs, thereby increasing the productivity of the yard without creating a result in a disproportionate capacity increase. The total investment will be $24.8m, with $5.5m paid as state aid, corresponding to 22.5 pct -- the maximum aid intensity allowed under the Framework on State aid to Shipbuilding. Germany said it would provide aid to Volkswerft Stralsund, situated on the Baltic coast in Mecklenburg-Vorpommern, in August 2005. The region has a standard of living is below the EU average and serious unemployment. Competition Commissioner Neelie Kroes said: 'This is in line with the objective of the State Aid Action Plan of less and better targeted state aid. I am satisfied that the aid is only used to modernise the yard and not to create additional capacity.' Source: AFX

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

SCHOTTEL Debuts EcoPeller with High-torque Gears

Propulsion and steering systems manufacturer SCHOTTEL has unveiled its new EcoPeller (SRE), which it said offers improved efficiency and robustness. Playing a

Fincantieri Delivers Carnival Vista

Carnival Vista, the new flagship of the fleet of Carnival Cruise Line, brand of the Carnival Group, was delivered today at Fincantieri’s shipyard in Monfalcone.

Tanker Trends

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

Floating Products Storage in Focus

For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report.

Russia Diesel Exports from Primorsk to Rise in May

Russia is set to export 1.256 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk in May, slightly up from 1.209 million tonnes in April, trading sources said on Friday.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0694 sec (14 req/sec)