Croatia’s 3.May to buy ship under construction for token price

ZAGREB (Croatia), September 14 (SeeNews) – Croatian shipyard 3. May [ZSE:3MAJ] said it is buying a bulk cargo ship under construction, Uljanik 527, for a token price of one kuna.

The overall length of the ship is 225.55 metres, its moulded depth is 13.58 metres and its widest part is 23.77 metres, the shipyard said in a filing to the Zageb bourse on Monday.

The ship is registered with the registry for vessels under construction.

According to earlier media reports, the ship was part of the assets of bankrupt shipyard Uljanik.

Shares of 3. Maj last traded on the Zagreb bourse on August 27, ending flat at 37 kuna ($5.9/4.9 euro).

Shipyard 3. Maj avoided the launch of bankruptcy proceedings in September 2019 after the government decided to issue guarantees for a 150 million kuna loan from state-owned development bank HBOR in favour of the shipyard.

(1 euro=7.475 Croatian kuna)

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