Germany Will Seek $6.3M From Kvaerner

Tuesday, February 15, 2000
The European Commission asked Germany to recover $6.31 million in subsidies from Kvaerner ASA because a production ceiling at a German shipbuilding subsidiary had been breached in 1997. This is the second time in less than a year that the company has been asked to repay German aid granted to its Kvaerner Warnow Werft (KWW) shipyard in eastern Germany. In Tuesday's decision, the Commission said KWW had exceeded an annual capacity limitation of 85,000 cgt by over 10 percent in 1997. The company, which employs around 1,200 people in the region of Mecklenburg-Vorpommern, was privatized in 1992 through its sale to Kvaerner with total German restructuring aid of almost $800 million. The subsidies had been approved by the European Union's competition watchdog on the condition of the strict application of annual production ceilings to limit distortions of competition.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG: Body Found in Search for Ship Sunk in Hurricane

The U.S. Coast Guard on Monday said its crews had found a body and an empty, heavily damaged lifeboat in their search for the cargo ship El Faro, believed to have

Kalmar to Upgrade MSC Terminal VLC (Valencia) Cranes

Kalmar, part of Cargotec, has announced a large contract to heighten and extend the handling capabilities of eight ship-to-shore (STS) cranes at MSC Terminal VLC in Valencia, Spain.

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,


Incat Ferry Order from Denmark

Incat Tasmania Pty Ltd, Australian shipbuilder, has secured a contract for the construction, delivery and long term charter of a large fast vehicle ferry for Danish company Mols-Linien A/S.

Korean Shipbuilders in Red

South Korean shipbuilders are struggling with huge losses stemming from the delivery of low-priced ships and a delay in the construction of offshore facilities such as drill ships.

S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3

South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports

Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators 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: 0.1405 sec (7 req/sec)