Uljanik Shipyard Bank Account Blocked (Again)

Total Croatia News

ZAGREB, October 2, 2018 – Uljanik on Tuesday reported that its bank account had been blocked and that negotiations were underway to have it unblocked.

“We inform the investment community that the account of the company Uljanik d.d. has been blocked. Negotiations with the companies of the enforcement creditors are under way with the aim of unblocking the account,” Uljanik said in a statement posted at the Zagreb Stock Exchange.

The Pula-based Uljanik shipyard yesterday informed that the Canadian Algoma Central Corporation had terminated a contract for the construction of a freight ship that was to have been built in the dock. Earlier in September buyers cancelled contracts for four ships.

Uljanik’s bank account was blocked August 29 to 30 and again from 3 to 13 September. The account was unblocked in order to pay workers their wages.

In August, workers at the Uljanik and 3. Maj shipyards went on strike because they had not been paid their wages for July and August.

On August 31, the government announced that it had provided state guarantees to the Croatian Postal Bank (HPB) to change insurance instruments for HPB’s loans to Uljanik from 2015 and 2016, which made it possible to pay wages to Uljanik workers.

After striking Uljanik shipyard workers were paid their wages for July, the striking committee decided to end the strike.


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