The European Commission has cleared rescue aid for Croatia’s shipbuilder Uljanik in the northern Adriatic city of Pula.
The EC has found Croatian plans to grant Uljanik shipyard a State guarantee for a US$96 million loan are in line with EU State aid rules. The measure will allow the company to meet urgent liquidity needs while preparing a restructuring plan, whilst competition distortions are limited.
Commissioner Margrethe Vestager, in charge of competition policy, said, “The Croatian State guarantee will help the Uljanik shipyard to continue operating and maintain 1 800 jobs, while they work out a sound restructuring strategy to ensure its future. We approved it today. The restructuring plan must return the company to long-term viability without continued public support, to preserve jobs in Istria on a sustainable basis.”
It has been in financial difficulties for several years due to the adverse effects of the financial crisis on the shipbuilding sector in general, and on the resulting low orders for new vessels in particular.
Full Content: Handy Shipping Guide
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Dr. Matthew Backus Joins Compass Lexecon as an Affiliate
Mar 20, 2025 by
CPI
UK to Boost Broadband Competition While Capping Openreach Charges, Says Ofcom
Mar 20, 2025 by
CPI
Singapore Competition Watchdog Yet to Receive Formal Notification on Grab-GoTo Merger
Mar 20, 2025 by
CPI
Crypto Exchange Kraken Buys NinjaTrader for $1.5 Billion
Mar 20, 2025 by
CPI
Airbnb Caught in Contradiction Over EU’s Digital Markets Act
Mar 20, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Self-Preferencing
Feb 26, 2025 by
CPI
Platform Self-Preferencing: Focusing the Policy Debate
Feb 26, 2025 by
Michael Katz
Weaponized Opacity: Self-Preferencing in Digital Audience Measurement
Feb 26, 2025 by
Thomas Hoppner & Philipp Westerhoff
Self-Preferencing: An Economic Literature-Based Assessment Advocating a Case-By-Case Approach and Compliance Requirements
Feb 26, 2025 by
Patrice Bougette & Frederic Marty
Self-Preferencing in Adjacent Markets
Feb 26, 2025 by
Muxin Li