Uljanik News

The Croatian government said on Thursday it would guarantee loans of up to 150 million kuna ($23 million) to keep one of the country's biggest shipyards afloat and give it time to find a strategic long-term partner.The 3.Maj shipyard in the northern Adriatic port of Rijeka is owned by Croatia's biggest shipbuilding group Uljanik whose other shipyard in the port of Pula has already been placed into bankruptcy procedure.Under EU state aid rules, the government cannot provide financial…

The Croatian government said on Thursday it would help a troubled shipyard owned by Uljanik , the country's largest shipbuilder, resume production.The government, which owns a 25% stake in Uljanik, said in March that it would not back a proposed restructuring plan for the group due to the financial burden it would place on the state.However, Prime Minister Andrej Plenkovic said on Thursday that the government was willing to support 3.Maj, which is located in the northern Adriatic port of Rijeka and is one of the group's two shipyards, because it did not have as big a debt burden."Unlike Uljanik, the 3.Maj is not an overly indebted company and there is an interest in the construction of new ships…

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…

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…

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…

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…

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…

The launch of Scenic Eclipse, which is touted as world's most luxurious cruise ship and  the world’s first “discovery yacht”,  has been pushed back to 15 August 2019.Scenic Luxury Cruises & Tours announced last July a five-month delay until January 2019, although that date was later amended to 13 April.The 228-guest Scenic Eclipse will now be a year late as the company announced it would take delivery of the new luxury vessel in August 2019.It is reported the shipyard has faced financial troubles, resulting in workers not having been paid in full since last August, triggering strikes and labour shortages.Scenic said the net result was “months” of lost production.

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…

Algoma Central Corporation (TSX: ALC), a provider of marine transportation services, announced that it has received full refund of all instalment payments made in connection with the now-cancelled shipbuilding contracts with Uljanik d.d. and 3Maj Shipyard of Croatia.Algoma entered into five shipbuilding contracts with 3Maj Shipyard, an operating unit of Uljanik d.d of Croatia. According to a press release from Algoma, after considerable delay, the first of the five vessels was delivered in 2018; however, Algoma cancelled the remaining four contracts as the shipyard’s financial difficulties led to a much-publicized attempt to refinance the company and shipyard management was unable to put forward a credible plan that would lead to completion of the remaining hulls.

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…

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…

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…

Canadian shipping company Algoma Central Corporation has decided to cancel all four newbuild construction contracts with Croatian shipbuilder Uljanik.The provider of marine transportation services announced in a press release that that it has taken steps to cancel its remaining four new build construction contracts with a Croatian shipyard.The cancellation notices have been sent to the shipyard as a result of the Yard’s failure to secure refinancing and Algoma has no assurance that the shipyard will be able to complete the four vessels.The Company will now initiate the process to be reimbursed for contract instalments paid to date, including…

Workers at Croatia's largest shipbuilding group Uljanik, who have been on strike for more than a week, began receiving their delayed July salaries on Friday and are set to return to work on Monday.Union leaders and Prime Minister Andrej Plenkovic, whose government struck a deal with a local bank, confirmed the payments for some 4,500 workers at the docks, located in the northern Adriatic cities of Pula and Rijeka.Last Monday the workers protested in Zagreb demanding the government's help.Despite the funds secured for July and August salaries…

Some 4,500 workers at Croatia's largest shipbuilding group Uljanik went on strike on Wednesday and called for management to step down in protest over late payment."The management has lost credibility in our eyes, the workers and suppliers have lost confidence," one union leader, Marina Cvitic, said.Uljanik controls two docks in the northern Adriatic, in the cities of Pula and Rijeka.The workers control less than 50 percent of the company, with the state also a minority shareholder.

Croatian shipbuilder Uljanik Shipyard said it has floated out a new polar discovery passenger ship for the Scenic group, on January 31, 2018.   The new 168-meter, 237-passenger luxury vessel, Scenic Eclipse, features Polar Class 6 COLD DI notation. It is the first vessel launched this year at Uljanik.   Scenic Eclipse is expected to launch in summer 2018.

Algoma Central Corporation, a leading provider of marine transportation services, today announced that it has taken ownership of the Algoma Innovator from the Uljanik d.d. shipyard in Croatia. The vessel is part of the Company’s Equinox 650’ class of self-unloading dry-bulk lake freighters and is the first new forward mounted boom ship to be built in 45 years. The vessel has been engineered to be a leader in the river class business; it’s forward mounted boom will permit cargo to be delivered into niche spaces allowing greater access and flexibility to customers. The winter season in the North Atlantic does not provide safe conditions for a transit voyage by a lake freighter; consequently, the vessel is scheduled to depart Croatia mid February, 2018 to be ready for the opening of the St.

A newly built self-propelled cutter suction dredger, Willem van Rubroeck, was released into the sea at the Uljanik Shipyard in Croatia on August 28. The vessel is expected to be delivered to owner Jan De Nul Group in 2018. The vessel is 151.3 m long, 36 m wide and can reach speeds up to 12 knots. Willem van Rubroeck’s installed power is 40,975 kW, making it the world’s most powerful cutter dredger, according to Jan De Nul Group. It features two retractable thrusters with a total power of 6…

Nexans said construction has started on its new cable-laying vessel for submarine HV cable systems installation. The vessel is being built by Croatia-based shipyard ULJANIK Group and is expected to be delivered and start operations by Q3 2020. The high capacity vessel is designed for worldwide installation of large volumes of HVDC and HVAC cable systems, covering the complete Nexans submarine product range, and has a 10 000-ton capacity turntable. Designed by consulting agency Skipsteknisk AS…

Wärtsilä said it has been awarded a contract to supply controllable pitch propellers and power take off / power take home (PTO/PTH) shaft generator systems for two new RoRo vessels being built at the Uljanik shipyard in Croatia. The ships have been ordered by the Luxembourg based operator, CLdN Ro-Ro SA. There is an option for an additional two vessels. Wärtsilä, which booked its orders in December 2016 and February 2017, will supply the vessels with its latest design, WCP G-hub, optimized for high power density.

Leveraging its experience in the distinct polar and cruise vessel segments, ABB and its Azipod are at the forefront of the booming polar passenger vessel market. As world travelers continually seek access to more exotic and exciting destinations, evolving cruise shipping trends have triggered an order boom for passenger vessels capable of plying some of the most treacherous Arctic and Antarctic routes. Required for this class of ships is a range of equipment and technologies that enable safe and comfortable sailing through polar waters.

Kongsberg Maritime technology has been chosen for installation aboard Australian cruise line Scenic Cruises’ new ice class cruise ship. The 228-passenger, 168 meter long Scenic Eclipse features an ice strengthened hull, but with sleek lines, state-of-the art technology and luxury fittings, it takes its design cues from the exclusive world of billionaire’s megayachts. Scenic Eclipse is currently under construction at Uljanik Shipyard in Croatia, with delivery expected during 2018.