Portugal: Searching for Lost Maritime Glory
Although a small nation on the Atlantic shores, Portugal in the 16th century was credited with discovering most of the “New World” previously unknown to Europe. In the process it became the richest nation in the West. The names of Bartolomeu Dias (Africa), Vasco da Gama (India) and Fernão de Magalhães – Magellan, who led the first circumnavigation of the globe but was killed in the attempt – echo down the centuries. Over the years the country underwent a transformation and saw the hard won glory fade. In fact until 1974, strong public protection dominated the national shipping sector, especially regarding merchant shipping to Portugal’s overseas territories.
Portugal to Start Shipyard Sale Soon: Government
The Portuguese government may start a tender to sell state-controlled shipyard Estaleiros Navais de Viana do Castelo SA within 45 days, an official at the Defense Ministry said today. A final decision may take place two months after the offers are received, said the official, who declined to be named, in line with his ministry’s policy. The government has received three written expressions of interest and three requests for information about the shipbuilder, the official said, adding that the Finance Ministry will decide on the final terms of the sale. Portugal is selling assets to comply with the terms of a $103 billion bailout from the European Union and the International Monetary Fund.
