Adriatic News

14 May 2019

OPT Wave Power System Reaches Milestone

File Image: Ocean Power Technologies

US-owned renewable energy company Ocean Power Technologies (OPT) announced that the Company's PB3 PowerBuoy deployed in the Adriatic Sea has produced more than one MegaWatt-hour (MWh) cumulative energy to date. The cost-effective ocean energy solutions provider said that the PowerBuoy has been deployed for six months, operating continuously and error-free while being controlled remotely from OPT’s NJ facility.George H. Kirby, OPT’s President and Chief Executive Officer said, “We are excited to announce this major power generation milestone for our PB3 PowerBuoy deployed in the Adriatic Sea.

13 May 2019

Troubled Pula Shipyard Placed into Bankruptcy

File Image: CREDIT AdobeStock / © Renaschild

Croatia's ailing shipyard in the northern Adriatic city of Pula was placed into bankruptcy by a commercial court on Monday after an almost year-long effort to keep it afloat.The shipyard belongs to Uljanik, Croatia's largest shipbuilding group, which also owns another troubled dock in the northern Adriatic city of Rijeka. A decision on the shipyard in Rijeka is scheduled for June 5.The Pula shipyard has an outstanding debt of 164.8 million kuna ($25 million). Local media reported that it has 1…

29 Apr 2019

Chinese Shipbuilder Mulls Croatia Yard Investment

A delegation from a leading Chinese shipbuilding company has arrived in Croatia for talks about a possible investment in the country's largest shipbuilder Uljanik, which is struggling to avoid bankruptcy.Officials from the China Shipbuilding Industry Corporation (CSIC) met Croatia's Prime Minister Andrej Plenkovic and his economic team on Monday and will visit Uljanik's docks in the northern Adriatic later this week."After the visit to the docks we will give full and serious consideration to this matter," CSIC's Chief Executive Hu Wenming told reporters. He said the delegation included lawyers and investment bankers to advise on any investment.Uljanik…

24 Apr 2019

Court Postpones Bankruptcy Ruling for Croatia Yard

A court in Croatia on Wednesday postponed a bankruptcy ruling for the country's biggest shipbuilding group Uljanik until May 13, as the government tried to delay activation of state guarantees to a customer for late delivery of a vessel.The commercial court in the northwestern town of Pazin had already delayed its ruling from March and the decision in May should be final. Bankruptcy would threaten the jobs of around 3,000 workers.Uljanik, which owns two shipyards in the northern Adriatic cities of Pula and Rijeka and is 25 percent owned by the state, has been working to stave off bankruptcy due to liquidity problems that began in 2017.The…

28 Mar 2019

Croatia Won't Back Shipyard as Bankruptcy Looms

File Image: AdobeStock / © Burnel11

The Croatian government said on Thursday it would not back a restructuring plan for the country's biggest shipbuilding group Uljanik due to the financial burden on the state and doubts the proposal could turn the company's fortunes around.If no other restructuring plan emerges soon, a local commercial court will deliver a ruling on bankruptcy within weeks, threatening the jobs of almost 3000 workers.Prime Minister Andrej Plenkovic told a cabinet session that the proposed restructuring…

26 Mar 2019

Croatia Arrests 12 in Shipyard Probe

© Jakub Wojtowicz / Adobe Stock

Twelve people were arrested in Croatia on Tuesday on suspicion of causing over one billion kuna ($152.16 million) in financial damage to the country's biggest shipbuilding group Uljanik and the state budget, the interior minister said.Uljanik, which is 25 percent state-owned and operates two shipyards in the northern Adriatic cities of Pula and Rijeka, has been battling to stave off bankruptcy due to liquidity problems that began in 2017. Workers are currently on strike, seeking unpaid wages."This morning the police began action during which 12 people were arrested…

13 Mar 2019

Across the Big Pond: Metal Shark Expands Again

Managing Director Teuta Duletic (left) and Technical Manager Drazen Debelic at Metal Shark Croatia.

Metal Shark Expands Internationally with New Croatia Engineering Facility.Shipbuilder Metal Shark has established a foothold across the Atlantic with the opening of a dedicated European engineering office.Metal Shark’s first location outside of the United States, “Metal Shark Croatia” is a new engineering facility recently opened in the city of Rijeka on Croatia’s northern Adriatic coast.The facility currently employs nearly 20 naval architects, machinery systems engineers, and…

12 Feb 2019

Piraeus Port Signs MoU with Italian Ports

Image: Piraeus Port Authority S.A.

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management…

07 Feb 2019

Troubled Uljanik Shipyard Stays Afloat by Restructuring

File Image: CREDIT Uljanik Shipyard

Croatia's troubled shipbuilder Uljanik said on Thursday it had chosen local rival Brodosplit as a strategic partner to restructure its operations.Uljanik, 25 percent owned by the state and with 3,500 employees, has been working to stave off bankruptcy due to liquidity problems that began in 2017. Workers staged strikes twice last year over unpaid wages."Uljanik has chosen Brodosplit as its strategic partner which will have an obligation to devise, in cooperation with Uljanik, a feasible restructuring plan…

17 Jan 2019

Troubled Shipbuilder Uljanik Draws Investor Interest

© lexlero / Adobe Stock

Croatia's largest shipbuilder Uljanik, which is trying to attract investors to stay afloat, extended a due diligence process until late next week after drawing the interest of potential strategic partners.Croatia's Economy Minister Darko Horvat said four potential investors were looking at Uljanik's business data and another company was also interested, but did not elaborate."I expect at least two serious offers for Uljanik at the end of this process which would then prevent its bankruptcy…

22 Dec 2018

Shipbuilding: New 110m Catamaran Named Saint John Paul II

Virtu Ferries ship launched at Incat. Photo: Incat

Shipbuilder Incat has launched the 110m vehicle / passenger ferry from the shipyard at Derwent Park in Hobart Tasmania. The ship will commence sea trials in mid January prior to delivery to her new owner Virtu Ferries for service between Malta and Sicily.Bearing the livery Saint John Paul II the vessel has been named in honor of the Pope who served from 1978 to 2005, so revered the Pope has often posthumously, but unofficially, been referred to by Catholics as "St. John Paul the Great".

19 Dec 2018

ESPO Congratulates Maja Markovčić Kostelac, New Executive Director of EMSA

Maja Markovcic Kostelac, new Executive Director of EMSA. Photo: ESPO

Ms. Maja Markovčić Kostelac is taking over as new executive director of the European Maritime Safety Authority's (EMSA).The European Sea Ports Organisation (ESPO) has issued a statement congratulating Kostelac, for taking over.Ms Markovčić Kostelac, who has served as the Croatian State Secretary for the Ministry of the Sea, Transport and Infrastructure, will take up her five-year term at the beginning of 2019.She has been an Administrative Board member of EMSA since January 2017. In 2008, she obtained her LL.M.

17 Dec 2018

Carnival to Launch Four Ships in 2019

Carnival Panorama (Photo: Carnival)

Carnival Corporation announced it will launch four new cruise ships in 2019 across three of its leading global brands – Carnival Cruise Line, America's Cruise Line; Costa Cruises, the largest European cruise operator; and Princess Cruises,  international premium cruise line. The world will get a preview of one of these spectacular new vessels when Carnival Cruise Line debuts a floral replica of its new Carnival Panorama sailing down Colorado Boulevard in the Rose Parade on New Year’s Day…

30 Nov 2018

Shipyard Bijela: Concession to Consortium of Damen and Adriatic Marinas

Bijela shipyard in Boka Bay, Montenegro. Photo: Damen Shipyards

Damen Shipyards Group, Adriatic Marinas and the Montenegrin Government have signed a contract for redevelopment of Bijela shipyard. The consortium will transform site into superyacht repair and refit facility.According to a press release from the Dutch shipyard group, the consortium of superyacht marina development and operating group Adriatic Marinas and the global ship and superyacht builder Damen, have been working with the Government of Montenegro.Since 2012 the parties have been developing plans to bring about the redevelopment of the former Bijela shipyard in Boka Bay…

27 Nov 2018

First Steel Cut for Karish and Tanin FPSO

(Image: Energean)

Energean Oil and Gas announced that first steel was cut on the Karish and Tanin floating production storage and offloading (FPSO) vessel at the COSCO yard in Zhoushan, China, on Monday. The FPSO is scheduled to be delivered to the Karish field offshore Israel in late 2020, ahead of first production in the first quarter of 2021.The FPSO, which will be installed 90 kilometers offshore, will be the first FPSO to operate in the Eastern Mediterranean. It will have a gas treatment capacity of 800 MMscf/day (8 BCM/per annum) and liquids storage capacity of 800…

19 Nov 2018

MSC Annouces Container Train between Trieste and Giengen

Pic: MSC Mediterranean Shipping Company S.A.

Global container shipping lines MSC Mediterranean Shipping Company (MSC) has announced the launch of a new dedicated train set-up between Giengen (a.d. Brenz) and Trieste, starting mid of November 2018.This stand-alone solution finally offers an A-B connection between metropolitan area of Ulm and the Adriatic, as the fastest gateway to/from Asia and the Mediterranean.The terminal in Giengen is operated by the leading European home appliance manufacturer BSH Hausgeräte GmbH. BSH…

12 Nov 2018

Contship Expands Intermodal Service

Contship gateway terminal in La Spezia. Photo: Contship

Contship Italia Group has been pulling all the stops to increase its intermodal offering during the past months.Italy’s leading service provider for integrated global supply chains said that its Rail Hub Milano (RHM) and its gateway ports La Spezia and Ravenna serve as backbone of the Group’s growing intermodal network.La Spezia is geographically located within a range of 320 km from the key economic regions in Italy, accounting for over 47% of the total Italian GDP. RHM is located in Melzo, just outside the city of Milan at the heart of consumer and industrial regions.

07 Nov 2018

Eamonn O'Reilly Re-elected as Chairman of ESPO

 Annaleena Mäkilä, ESPO Vice-Chair; Eamonn O'Reilly, ESPO Chairman, Zeno d'Agostino, ESPO Vice-Chair; Isabelle Ryckbost, ESPO Secretary General. Photo: ESPO

Eamonn O’Reilly was unanimously re-elected as Chairman following a vote of European Sea Ports Organisation (ESPO)'s General Assembly in Brussels. E. O’Reilly has been chairing the organisation during the last two years.The General Assembly also re-elected Annaleena Mäkilä and elected Zeno d’Agostino as Vice-Chairs. Ms Mäkilä is currently Managing Director of the Finnish ports Association and has been Vice Chair since 2014.d’Agostino is President of Assoporti, the Italian Association of Ports and President of the Port Network Authority of the Eastern Adriatic Sea.

06 Nov 2018

Damen’s RSD Tug 2513 Nominated for KNVTS Award

Photo credit @Willem Koper

Damen’s radical new ‘always bow first’ RSD Tug 2513 has reached the final stage of this year’s prestigious Maritime Award KNVTS Ship of the Year prize. As one of the last three entrants in contention for the award, the Damen RSD Tug 2513 will be judged on a range of criteria including its design, safety, economy, durability and construction process, and the winner will be announced at the Gala Dinner taking place on November 12th.The 25-meter RSD Tug 2513 is the result of years of research and development by Damen in cooperation with its towage customers and research institute partners.

22 Oct 2018

Croatian Shipbuilders Strike Again Over Late Salary

© burnel11 / Adobe Stock

Workers at Croatia's largest shipbuilding group Uljanik on Monday held their second strike in less than two months, this time over unpaid salary for September.In late August, the workers downed tools because of uncertainty over payments for July and August. Those two months' salaries were secured after the government reached a deal with a local bank.Uljanik owns two docks, with some 4,000 workers, located in the northern Adriatic cities of Pula and Rijeka. Some 1,500 started a…

18 Oct 2018

Croatia May Pay $651.6 Mln to Uljanik Shipyard

(File photo: Uljanik)

Croatia may have to pay 4.2 billion kuna ($651.57 million) for the costs of state guarantees extended to an ailing Adriatic shipyard that has been struggling to survive in recent months, Finance Minister Zdravko Maric said on Thursday.The figure is close to 1.2 percent of Croatia's gross domestic product."This year we will have to pay 2.5 billion kuna on the basis of state guarantees for Uljanik," Maric told an economic conference in the northern Adriatic town of Rovinj.Several…

30 Sep 2018

Tim Kelly is the New CEO of Adriatic LNG

Tim Kelly. Photo: Adriatic LNG

Tim Kelly has replaced Suresh Jagadesan as the Managing Director of Adriatic LNG, which operates the regasification terminal located offshore from the Veneto coast.Before joining Adriatic LNG, Tim worked as the Marine Operations Manager at ExxonMobil’s gas liquefaction plant in Papua New Guinea.Tim has almost 40 years’ experience in the marine and Oil&gas sectors, starting his career in the Merchant navy. After joining ExxonMobil, he held positions of increasing responsibility…

20 Sep 2018

Prof. Kurt Bodewig is European Coordinator for Motorways of the Sea

Photo: European Sea Ports Organisation

The European Sea Ports Organisation congratulates Prof. Kurt Bodewig on his nomination as European Coordinator for Motorways of the Sea and is looking forward to a fruitful cooperation to further enhance the European maritime transport dimension and the role of European ports within the future Connecting Europe Facility and the TEN-T network.The European Commission appointed three new TEN-T Corridor Coordinators, while the mandate of eight Coordinators has been extended.European…

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