Croatian struggling 3. Maj Shipyard announced the completion of the construction of a bulk carrier for Algoma, Canadian shipping company, which the latter cancelled last year after 3. Maj failed to meet its contractual obligations.
Croatian shipbuilder Uljanik saw another cancelled newbuilding order, involving the construction of a livestock carrier by an owner in Kuwait. This happens as the shipyard has been in financial trouble for months and workers are on a strike, as they have not received their wages for months.
Croatian police authorities have arrested 12 people as part of investigations into a corruption scandal of financially distressed shipbuilder Uljanik, due to allegations of ‘abuse of trust in financial transactions’ and fraud. The country’s Ministry of the Interior said the police started investigations into Uljanik in September 2018.
Croatia’s shipbuilder Uljanik, who is currently experiencing difficulties, has chosen the domestic shipyard Brodosplit as its partner. As Uljanik informed, the contract will give emphasis on the acceptable and viable restructuring program of Uljanik shipyard. Uljanik is Croatia’s largest shipbuilder, as it has two shipyards in Pula and Rijeka. It has experienced financial troubles and for months it has been searching for a partner to invest in it.
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