Kvaerner Faces New EU Subsidy Probe

Wednesday, February 02, 2000
The European Commission has launched a probe into whether a German subsidiary of Anglo-Norwegian engineering and shipbuilding group Kvaerner Plc received excessive subsidies from Germany. The Commission suspects that the company may have received excessive state aid of around $59.2 million to cover possible losses during the restructuring of its Kvaerner Warnow (KWW) shipyard in eastern Germany. The Commission said it discovered last summer that KWW had given a $199 million loan to its parent company, Kvaerner. The EU executive then started investigating the origin of the money to ensure it did not contain any of the restructuring aid paid out earlier.
Maritime Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

CMA CGM Opens Two Offices

CMA CGM Opens a new branch in Constantine, (Algeria) and an agency in Sihanoukville, (Combodia) Following are the addresses in the respective countries: CMA CGM Algérie,

MMEA Recover Hijacked Tanker

A hijacked Malaysian coastal tanker has been recovered by the prompt actions of the Malaysian Maritime Enforcement Agency (MMEA) off the coast of Malaysia. The

Scorpio Takes Delivery of STI Veneto

Scorpio Tankers Inc. has taken delivery of STI Veneto, an LR2 product tanker from Hyundai Samho Heavy Industries Co., Ltd. This vessel will begin a voyage for 60 days at approximately $32,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1043 sec (10 req/sec)