Pricing talks continue

Talks between the EU and Korean representatives over the issue of newbuilding prices ended without agreement. However, negotiations are continuing by telephone and there is some hope of an agreement in the near future.

Any agreement is likely to be in the basis of pricing principals rather than a yard?s profit or loss. Meanwhile the EU?s threat of action at the WTO remains, although the biggest loss-making contract (for 13 cable layers at Hyundai Mipo) remains on hold.