Italian strong interest into Croatian shipyard aside a compatriot’s one
Expanding Palumbo Group of Naples has officially eyed Uljanik of Pula, engaged in a deep restructuring plan, whose controlled 3 Maj of Rijeka just delivered a bulker to Algoma
There are two bidders contending for the take-over of Croatia’s main shipbuilding group.
In fact Uljanik has previously received (in mid December) a letter of intent from compatriot group Kermas Energija - part of Kermas Limited international investment corporation, with major investments in mining, renewable energy, real estate, marina development, agriculture and shipbuilding, holding Brodotrogir shipyard of Trogit, South Croatia - and then the Pula-based shipyard announced at the Zagreb Stock Exchange that Italian company Palumbo Group is also interested in taking part in their deep ongoing process of restructuring and diversification. “A letter of intent from the second potential strategic partner Palumbo Group S.p.A. of Naples has been received” the Pula-based shipyard stated, although it did not provide any further details in the filing given to the national Bourse.
The business long standing Palumbo Shipyards, which has been in the shipbuilding industry since 1967, is lately engaged in a continuous spending spree, having acquired and/or rented as many as six more shipyards – two in Malta and one respectively in the Canarias Isles of Spain, in Marseilles, France, in Ancona and lately also in Savona, the last two both in Italy) so to expand dramatically its business from the initial base of activity in Naples, then extended to Messina in Sicily in the ‘90s, with a commercial branch opened in Monaco too.
Meanwhile the Uljanik-controlled shipyard 3 Maj of Rijeka, close to Pula, delivered to the shipowner on December 14th 2017 the former yard no.732, a self-unloading bulk carrier, now named as Algoma Innovator. The 198 meters long, 23 meters wide and designed for service on Great Lakes and River St. Lawrence bulker is the first one from the series of 5 ships built by Uljanik Group for Algoma Central Corporation from Canada and was constructed under surveillance of the Llloyd`s Register classification society.