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


Eastern Launches Tug for Suderman & Young

Eastern Shipbuilding Group, Inc. announced it has launched escort tug Triton for Suderman & Young Towing Company on September 11, 2015.   The launch ceremony

Incat Crowther Designs Ferry for Malaysia

Incat Crowther has been commissioned to design a passenger transport ferry to be operated by Cataferry Sdn Bhd, in Malaysia.   The main deck features a full width cabin accommodating 151 passengers.

Pitbull Named Godfather of Norwegian’s New Cruise Ship

Norwegian Cruise Line announced today that musician Pitbull will serve as godfather for its newest ship, Norwegian Escape, slated to be christened next month in Miami.

Tanker Trends

GTT Inks Framework Partnership Deal with CERN

GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has signed a Framework Partnership Agreement

d'Amico Launches Two Tankers in Vietnam

d'Amico International Shipping S.A. has launched two eco-ships at the shipyards of Hyundai Vinashin Shipyard Co. Ltd – Vietnam, bringing the fleet to more than 50 units.

New Head for Odfjell Tankers

Odfjell announced it has appointed Senior Vice President Harald Fotland to new Head of Odfjell Tankers. Fotland comes from the position as SVP/Chief of Staff

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Salvage 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: 0.1760 sec (6 req/sec)