Bremer Vulkan

Vulkan subsidies approved

The European Commission has approved the payment of nearly one billion deutschemarks (about HK$4.19 billion) in subsidies by the German authorities to rescue the former subsidiaries of bankrupt shipyard Bremer Vulkan.

Monday, 4 August, 1997, 12:00am

Bonn details yard aid plan

Germany has told officials at the European Commission that it intends to support two shipyards formerly owned by Bremer Vulkan Verbund with 880 million deutschemarks (about HK$2.89 billion) in subsidies, newspaper reports say.

23 Oct 1996 - 12:00am

Conti keeps faith in Vulkan

Bremer Vulkan Verbund will have enough money to continue work on two container ships, administrators overseeing the company's bankruptcy proceedings say.

15 Jul 1996 - 12:00am

Ex-Vulkan boss defends role

The former chief executive officer of Bremer Vulkan Verbund, Friedrich Hennemann, has criticised federal watchdog agency BvS for changing its stance as Germany's largest shipbuilder fell into liquidation.

10 Jul 1996 - 12:00am

Bankruptcy blame on banks

Bremer Vulkan Verbund banks also carry responsibility for the shipmaker's bankruptcy, the business daily newspaper Handelsblatt says.

3 Jul 1996 - 12:00am

Vulkan bankruptcy toll

The bankruptcy of what was Germany's largest shipbuilder Bremer Vulkan will cost taxpayers as much as 400 million deutschemarks (about HK$2.02 billion).

The weekly magazine Focus said the planned construction of two luxury liners for an Italian cruise company was alone expected to add an extra 180 million marks to the shipbuilder's debts.

8 May 1996 - 12:00am

Bremer managers in probe

Bremer Vulkan Verbund managers in eastern Germany are being investigated for a possible role in diversion of more than 800 million deutschemarks (about HK$4.08 billion) in subsidies, the magazine Focus says.

24 Apr 1996 - 12:00am

BVV projects financed

Bremer Vulkan Verbund, the German shipbuilder under court-managed reorganisation, said it had secured financing to continue work on two key ship projects for Italian cruise ship operator Costa Crociere.

18 Mar 1996 - 12:00am

Bank set for Bremer loan

BAYERISCHE Vereinsbank is to provide an emergency loan in the 'triple-digit millions' to Bremer Vulkan Verbund, the shipbuilder under bankruptcy protection, Welt am Sonntag says.

Bank officials said they were reviewing the loan application. German bankruptcy law would assign it a higher status than loans by current creditors to the distressed shipbuilder, the newspaper said.

6 Mar 1996 - 12:00am

Vulkan bids for China foothold

BREMER Vulkan has become the second major German shipyard inside a year to seek a foothold in the Chinese shipbuilding market.

The board of the Bremen-based group, one of Europe's biggest shipbuilders, has approved a bid to take a majority (51 per cent) stake in Shanghai Edward Shipbuilding (SESC).

26 Jul 1995 - 12:00am

Merger of German lines is completed

THE long-awaited merger of Bremer Vulkan Verbund's shipping unit with the main shipping company of the former East Germany has been completed and, retroactive to January 1 this year.

The merged line will have revenues of about 1.6 billion marks (about HK$7.68 billion) this year, Bremer Vulkan said.

19 Aug 1994 - 12:00am

Germans design 6,000 TEU vessel

BREMER Vulkan, Germany's largest shipbuilding group, has completed the design of a 6,000 TEU (20 ft equivalent unit) container ship, and a 5,300 TEU vessel.

According to Bremer Vulkan, no firm orders have been received for the types.

''But we are not undertaking such development work out of the blue,'' said a Vulkan manager.

30 Aug 1993 - 12:00am