Hard Times for Uljanik, Jan De Nul Wants Money Back

Launching ceremony of Newbuilding 500, August 2017, Image source: Uljanik

Jan De Nul Group is demanding the repayment of all installments paid to Croatia’s troubled Uljanik Shipyard, plus interest, after they cancelled an order for Newbuilding 500 – a cutter suction dredger.

The Shipbuilding Contract for Hull 500 was signed two years ago between Uljanik d.d. and Dredging and Maritime Management SA (DMM) Luxembourg, the company in ownership of Jan de Nul Group.

On April 19, the client said that it would seek the repayment of its advance payments for the vessel that was to have been built by the shipyard, Uljanik said in a statement via the Zagreb Stock Exchange.

“Upon the negotiations which lasted few months among the Buyer, institutions of Republic of Croatia and Uljanik d.d. which aimed that instead repayment of advance payments the vessel be completed in Uljanik Shipyard or alternatively in foreign shipyard, the Buyer made final decision by which he requests repayment of advance payments increased for the interest,” the statement said.

According to the subject, Shipbuilding Contract Uljanik d.d. is obliged in period of seven days from receipt of the request in headquarters of the company to effect repayment of advance payments increased for interest whereby the part of advance payments has been secured by state guarantees.

The interested parties will continue to work on finding a solution to reduce the harm the latest developments are expected to cause to the state and the shipyard.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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