ZAGREB, July 24, 2019 – The president of the Supervisory Board of the Rijeka-based 3. Maj shipyard, Juraj Šoljić, on Wednesday sent a letter to Prime Minister Andrej Plenković, asking him that, based on everything that has been done in the dock in the past two months, he present his stance and make a decision on the fate of that shipyard.
“Our aim is to finish the ships we have started and to avoid bankruptcy because 3. Maj and Croatia will benefit the most if production continues. Hence, we ask that you urgently make a decision so that extra costs are not incurred,” Šoljić wrote.
He underscored that with the efforts invested by the dock’s director, Edi Kučan, with the help of the Economy Ministry and judiciary as well as the Jadranbrod – Hrvatska Brodogradnja company, a lot has been done to bail out the shipyard.
He noted that dock’s liabilities were reduced from 156 million kuna to 76 million kuna. Detailed calculations have been made that would be required for ships to be completed and talks have been conducted with potential buyers.
He added that over the past two months the dock had contracted and completed other jobs too which ensured some liquidity and made it possible for wages to be partially paid.
We are prepared to immediately start with production
Šoljić underscored that a new bankruptcy hearing was scheduled for August 1. “Based on everything we have achieved in the shipyard over the past two months, please inform us of your stance. If you decide for the continuation of production, we are prepared to immediately start with production, particularly with regard to the construction of a ship for the transport of trucks and vehicles for which material exists but, considering that not one contract is valid, we cannot launch construction,” he underlined.
Šoljić warned that as more time goes by, the more costs are incurred and that could result in certain creditors once again demanding distress orders which could then jeopardise deadlines and, in that case, prices offered to buyers would be completely different.
More news about Croatian shipbuilding can be found in the Business section.
