Croatian shipyard wins tanker order

Loss-making Croatian shipyard 3.Maj has signed a contract for two 51,800 dwt product tankers for $106 million. The state-owned builder will deliver the ships to owner Uljanik Plovidba, also of Croatia, in 2010 and 2011. This makes use of a government scheme whereby the Croatian government subsidises 10% of the cost as part of its existing government grants until the yards are privatised.

In 2006, Uljanik ordered two similar vessels from the yard.