Croatia's Uljanik Plovidba eyes privatisatisation of local shipbuilders.

By bne IntelliNews June 27, 2012
Croatian ship management firm Uljanik Plovidba said it is actively participating in the project for the privatisation of domestic shipbuilding firms 3.Maj and Uljanik together with Economic Cooperation Funds and other interested partners. Since Uljanik Plovidba is a potential client of the two firms, this participation is in line with its 2015 fleet renewable strategy, it said in a Zagreb bourse filing. Uljanik Plovidba pointed out that the final decision on its participation in the ownership structure of the shipyards will be taken after a detailed analysis of the project profitability. It added that in the next few years it would like to build more vessels in local shipyards, namely MR type oil and chemical tankers and Supramax type bulk carriers. Uljanik Plovidba said that it will also intensify the negotiations on the involvement of strategic partners in its development activities. The company's financial and building model will be based on a joint venture with shipyards, as well as on investment credits from Croatian development bank HBOR.

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