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

Legal

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Attestation / Endorsement services for seaman in UAE

The Maritime Administration of the United Arab Emirates has introduced services for the attestation of seaman contract and issuance of oil/chemical/gas tanker endorsement.

Concordia Captain Tried to Blame Wreck on Electrical Blackout

The captain of the Costa Concordia tried to persuade the crisis coordinator of the cruise line to pretend an electrical blackout had caused the shipwreck, a court was told on Monday.

 
 
Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1046 sec (10 req/sec)