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Wednesday, 26 September 2018

Trouble continues for Croatian shipyard

#expeditioncruising .

The Croatian shipyard, Uljanik, currently building the Scenic Eclipse luxury 'discovery yacht' and with a contract to build the Australian company's second vessel in 2020, continues to struggle.

Scenic Eclipse after float-out in January [intellinews]

According to Standard & Poor's Global Ratings "... the resolution of the troubled Uljanik shipyard, which is currently in search of a strategic investor and could otherwise face bankruptcy, could cost the government up to 1% of GDP. The precise cost however depends on the final scenario, and the possible finalization of ships under construction."

Of the launch delay, Scenic founder Glen Moroney said in a July statement, “Despite the best efforts of our build supervision team to make up construction time, we are not prepared to compromise the quality of the vessel and potentially impact guest experiences to meet the original launch date.”

The situation is certainly critical, but not impossible. S&P have upped the country's credit rating to BB+/B and issued a positive outlook for Croatia's GDP. [source]

In the meantime, Scenic remains optimistic of a January 2019 delivery date for Eclipse and continues to promote departures, beginning with 'Ultimate Antarctica' on 28 January 2019.