Shipyard

The government is trying hard to revive two companies which are important for the local economy and the country's armed forces, Hellenic Vehicle Industry and Elefsis Shipyards.

The Economy Ministry taking over the majority package of Mangalia Shipyard represents an important success of the Romanian state, PM Viorica Dancila said on Tuesday.

A shipyard located in Turkey's Marmara region has built its 47th ship for the Norwegian company Havyard Group, the head of the shipyard said on June 12.

Two yachts and a boat have been burned in a fire at a luxury yacht shipyard in the Mediterranean resort province of Antalya, Doğan News Agency reported on April 4.

Turkey’s Anadolu Shipyard on March 13 signed an agreement to build two training warships for Qatar’s navy.

An Athens court has approved an appeal by the Greek state and Piraeus Bank to prepare the Skaramangas shipyards for liquidation.

As long as there are no objections from the key shareholder Privinvest, which is far from certain, the government will be able to start auctioning the shipyard's assets via an international competition.

Greek-owned shipping companies last year invested US$4.7 billion in the acquisition of used oceangoing vessels and another $4.7 billion in new builds. As a result, Greek shipping ranked top in transactions and among the biggest investors in new ships, with total investment exceeding $9.3 billion for almost 400 vessels, according to Clarksons shipbrokers.

French President Emmanuel Macron has made his first major intervention in the corporate world by nationalising a shipyard to stop it falling into Italian hands.

In a move that shows the limits of the new government’s economic liberalism, the finance ministry on Thursday said the state was exercising its pre-emption right to buy out all the shareholders in STX France.

The challenges for Greek coastal shipping are growing, as besides the recession in the domestic passenger market and the rise in fuel prices, the new environmental regulations to apply from 2020 require new ship orders.

Few people have seen or even know about the luxury yachts have been choosing the zones of Perama, Elefsina or Halkida for repairs, maintenance or even construction in recent years. These are mega yachts that rank high on the list of the world's biggest and most luxurious recreational vessels.