Croatia yard in US$75m deal

PUBLISHED : Friday, 18 April, 1997, 12:00am
UPDATED : Friday, 18 April, 1997, 12:00am

Croatia's leading shipyard, Treci Maj of Rijeka, has reportedly struck a US$75 million deal to build two tankers for the Monte Carlo company Scorpio Shipping Management.

About 80 per cent of the price would be paid before the ships were completed, thanks to banking guarantees from Merrill Lynch, Croatian television reported.

The Treci Maj shipyard has built two ships for Scorpio Shipping Management in the past.