Rijeka 3 Maj Shipyard Gets Project Enquiries, Market Awakening?

Lauren Simmonds

Updated on:

As Novac/Jozo Vrdoljak writes, at a recent session of the Croatian Government, a proposal for a conclusion on the manner of completion of the construction of the ship Novogradnja (Newbuild) 514, which is being built at the Rijeka 3 Maj shipyard, was adopted.

The government has instructed the Ministry of the Economy and Sustainable Development, in cooperation with Jadranbrod, to contract the completion of Novogradnja 514 at the Rijeka 3 Maj shipyard. This move initiated the procedure of completing the construction of the ship for an as yet unknown buyer.

At the Government session, a loan from the Croatian Bank for Reconstruction and Development was approved in order to finance the completion of the construction of the ship. It is a car transport ship and that vessel is part of a recovery plan and the start production at the Rijeka 3 Maj shipyard. The ship was previously owned by the bankrupt Uljanik shipyard in Pula, which contracted the work with the client, and the Rijeka Maj 3 shipyard was contracted as the builder of the ship.

“This is a ship that is part of a package of three ships that the Croatian Government decided to complete back in August last year. Novogradnja 514 is the last ship in that package. Apart from meeting the conditions of that decision, this job means something to us because our capacities are additionally employed and in this way the costs on other ships can be reduced. Our obligation is to complete the construction of this ship and we should do it in about a year, and the Croatian Government should then be able to find a buyer for it.

In addition to the ships from this package, one of which has been completed, the other is nearing completion. Along with Novogradnja 514, which is in the Rijeka 3 Maj shipyard, there is another ship on the first slipway. That ship was otherwise claimed as part of the bankruptcy property of Uljanik.

In addition to all ove this, we’ve had several inquiries for interesting projects that I’ve been processing. Such inquiries are very important to us because they show that the market has begun to wake up a bit, but also that the market recognises that the Rijeka May 3 shipyard is one that has started up again and remains alive. For that reason, we’re receiving those inquiries,” said Sinisa Ostojic of the shipyard.

To briefly recall, the client behind Novogradnja 514 terminated its construction contract back in 2018 at a time when about 70 percent of the construction of the ship had already been completed. In October last year, the government took ownership of Novogradnja 514, after that, a new model was awaited according to which construction would be completed.

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