ShippingWatch

Danish shipyards not concerned by German state subsidies

Negotiations between the state government of the German Land, Mecklenburg, and the European Commission on state subsidies to the Baltic Sea shipyards in the group, P+S, are not likely to affect Danish shipyards. At least, that is what Danish Maritime expects and neither Fayard nor Karstensens Skibsværft fear distortional practices for now.

Danish shipyards should not have any fears as German politicians and the European Commission negotiate on the opportunity of state subsidies for the suffering Baltic Sea shipyards in Stralsund and Wolgast which are part of the shipyard group P+S later this week. The two shipyards which have existed for 63 years are in great financial trouble and in response to this, the politicians in the German Land, Mecklenburg, have contacted the European Commission in order to find out if it possible to obtain state subsidy to the shipyards.

“The German politicians contacted the European Commission meaning that they intend to use the existing rules of either support for closing the shipyards or the stricter ones on rescue support in the case that the shipyards’ crises are only caused by the bad market”, Deputy Director of Danish Maritime, Michael Prehn (photograph) says.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Latest news

See all jobs