Uljanik Shipyard Reportedly in Financial Difficulties

By ,   January 18, 2018 ,   Cruise Industry

The Uljanik yard (Pula, Croatia) which is currently building the 228-passenger expedition ship Scenic Eclipse for Scenic Cruises, is reportedly in financial difficulties and its employees have not been paid for months.

The government of Croatia has offered to guarantee an EUR 96 million loan in order to allow the yard to restructure, which is subject to European Commission approval. 

The Uljanik yard has already received restructuring aid as part of the accession of the country to the EU, but the shipyard seems to have used most of the money to lower the prices of its vessels, which led to full orderbook, but not much improvement: the yard is reportedly old and antiquated, despite the fine quality of the ships.

Observers are currently speculating about a delay to Scenic Eclipse, which is due for delivery in 6-months time, and the future of the ordered 2nd ship for 2020 delivery from sister yard 3 Maj, Rijeka.