Credit crunch jeopardises sale of Polish shipyards

Thousands of Polish shipyard workers will lose their jobs when the country?s state-owned yards are sold off. Under the government scheme, workers will be offered between $6,000 and $18,000, depending of the length of service.

The deadline for the sale of the Szczecin and Gdynia yards has been set for 31 May and there is no guarantee how the sites will be used once they are sold. There will be bidding on property and equipment including dry docks, cranes and fabrication shops. It had been hoped that, with no hassle to deal with unions, employee liability or obligation to modernise the yards? ageing equipment, the assets would have been attractive and valuable. However, the economic down turn has changed the situation and the world shipyards are full of newbuildings that nobody wants or can afford and hundreds of vessels are laid up or soon to be idled.