Ship Subsidy Agreement Hammered Out In Brussels

Monday, June 26, 2000
The European Commission and South Korea have signed an agreement aimed at allaying European concerns that South Korean shipyards charge unfairly low prices, the European Union's executive body said. But the Commission said in a statement it has already asked for consultations with South Korea, as allowed for under the new agreement, "in order quickly to clarify several issues of concern and receive answers to key questions." These talks will take place in Seoul on July 18 and 19. The Commission gave no details of what it wanted to discuss. "The Commission considers that the full implementation of Korea's commitments will constitute the effective means to avoid a potential dispute between the EU and Korea in shipbuilding and (to) work together towards a fair and competitive world shipbuilding market," it said. The 15-nation EU and the South Korean government began talks last December on shipbuilding after the Commission accused South Korea of using International Monetary Fund aid received after the 1997 Asian financial crisis and other subsidies to undercut European shipbuilders. South Korea denied the charge. The agreement, agreed in April, aimed to stabilize the world shipbuilding market, which the EU says suffers from over-capacity and steadily falling prices. The pact contains a pledge not to subsidize shipbuilding, and commitments to transparency and commercial pricing. It provides a consultation mechanism allowing either side to request talks if they feel the agreement is not being respected.

Shipbuilding

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Five Minutes with Paul Switzer

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0978 sec (10 req/sec)