Ù - schiffundhafen.de · programmes for four other ailing croatian shipyards. ... finnish engine...
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INSIDE REPORT The Croatian government said it has received just one bid from a Croatian company to buy the
leading shipyard 3. Maj it is trying to sell to satisfy a key condition for completing the country’s European Union membership talks by July this year. | Bidder was Croatian company Jadranska Ulaganja. After a failed tender due to a withdrawal of Austrian-based investor A-Tec, the 3. Maj yard, located in the northern Adriatic port of Rijeka, was again offered for sale at a token price. Jadranska Ulaganja offered a symbolic 1.0 kuna (0.13 euro cents) for the yard. The buyer is required to submit a restructuring plan for the shipyard and cover 40 percent of the cost for its implementation. Restructuring of Croatian yards, which are heavily subsidised contrary to the EU competition rules, is needed if Croatia to complete its EU entry talks. The head of the Croatian state privatisation fund, Vedran Duvnjak, said the bidder for 3. Maj had also expressed interest in acquiring some other yards. “Our expert teams will now assess the quality of the offer,” Duvnjak said. The plan must also be approved by the European Commission which is now reviewing the viability of the privatisation programmes for four other ailing Croatian shipyards. The decision from Brussels is expected in February. Should it be positive, Croatia will make a major step towards completing the talks in one of the most demanding policy areas of the EU common law -- the competition policy. If not, a conclusion of the entry talks by July becomes increasingly unlikely. The shipbuilding restructuring is a sensitive issue as the yards employ some 11,000 people and many small businesses are also involved as contractors. The government wants to keep the industry afl oat and avoid major job losses. The yards have been making losses for years and the government, struggling with fragile public fi nances, may have to take over up to 12 billion kuna (US$2.24 billion) of loans to the yards which it guaranteed in the past. If it completes the talks by mid-2011, Croatia is likely to become an EU member in 2013.
Spanish naval shipbuilder Navantia SA, is holding talks with renewable-energy companies on potential contracts and cooperation in offshore wind-energy projects. | Navantia Chairman Mr Aurelio Martinez said: “Our idea is that during this year we reach agreements with a number of companies.” Navantia has talked to Iberdrola SA, Actividades de Construccion y Servicios SA and Acciona SA, as well as foreign investors. The company is aiming to diversify and wants a new business that would provide 20 years of work, Martinez said. Possible contracts include building platforms to hold the windmills, ships for installation and maintenance and power line handling.
Finnish engine maker Wartsila has raised its long-term fi nancial goals thanks to cost reductions and a recovery in the shipbuilding market, especially in Asia. | Wartsila, which provides machinery and services to the shipping industry and power plants, said it has raised its long-term operating profi t margin target from 6-7 percent to 10-14 percent. Last year, the company announced a restructuring that has so far cut personnel numbers by around 1,000, and moved most ship engine and propeller production to China to be nearer customers. “These savings are sustainable,” Chief Executive Mr Ole Johansson said. Reporting a 27 percent drop in fourth-quarter operating profi t, Wartsila said it expected sales to grow 3-5 percent. Johansson said orders at Wartsila Ship Power in the quarter were running at more than double the levels seen in 2009. He said the recovery came earlier than expected and this year’s increase would be moderate. Wartsila said it was seeing a strong shipbuilding recovery in Asia, especially China, where it is moving a large part of its production from Europe. “In 2010, China secured the majority of global new building orders, followed by Korea,” Wartsila said. Wartsila said it had started to look for a new chief executive after Johansson, who will turn 60 years of age this year, decided to retire.
PROSPECTS AND ORDERS EUROPE FRANCE French offshore contractor Technip, in a consortium with South Korean yard Daewoo
Shipbuilding & Marine Engineering, has been awarded a front-end engineering and design contract for a fl oating liquefi ed natural gas (FLNG) vessel. | The contract comes from Malaysian
NO 67 FEBRUARY
2011
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4 2011 1
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GEANew location in China
The world's largest heavy lift ship in service
Baltic Island"Baltic Island" in service
Rolls-RoyceFirst order for wave-piercing offshore vessel
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BWT, separator and tank cleaning machines
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