Shipyard Payments Delayed

Just when things were looking up for Polish shipyards, as the European Commission accepted the rescue plan of the Gdańsk shipyards on Wednesday, trouble is now brewing in the Gdynia and Szczecin yards.

Unlike the Gdańsk shipyards, the Gdynia and Szczecin ones were not approved for EU aid, and were sold to a private buyer – QInvest. The firm, which is Qatar’s largest investment bank, now wants to delay payment for the shipyards, which was due on Wednesday.

The bank is citing reports of illegal activities at the two Baltic shipyards as the basis for the delay. Former employees at the Szczecin shipyard had sent a letter claiming that illegal activities had taken place there. However, Polish authorities are claiming that the letter is a means of sabotage by disgruntled employees.

The missing sum amounts to around 380 million złoty (280 million for Gdynia and 100 million for Szczecin). The Polish government has agreed to a delay in payment until 17 August, and the plan has been sent to the European Commission for approval.

See also: No Mercy for Shipyards