China Shipbuilding Industry Corporation Eyes Uljanik Takeover

Uljanik Shipyard

Officials from China Shipbuilding Industry Corporation (CSIC) have arrived in Croatia for meetings with Prime Minister Andrej Plenkovic and executives at Uljanik shipyard to discuss the future of the yard.

Hu Wenming, chairman of CSIC, said that the Croatian prime minister had delivered a very detailed presentation of the situation, and that CSIC will “seriously consider” the yards, according to local press reports. 

Potential suitors for Uljanik have ranged from Brodosplit and Fincantieri to Scenic, which is building the Scenic Eclipse and has now led to potential Chinese investors. 

The Croatian government has not yet backed any restructuring plan for Uljanik due to financial burdens, as the yard has faced turmoil for the past year.

The Croatian financial agency, FINA, has demanded courts open bankruptcy proceedings against the yard, with a decision expected shortly. .

The Scenic Eclipse, which is under construction at Uljanik, is set for an August 2019 debut. 

 

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