Press Release: Commission reports on state of world shipbuilding market

On 3.5.00, the European Commission adopted the second in a series of reports to the Council of Ministers on the state of the world shipbuilding market. The report reveals a continuing decline in the market share of the EU shipbuilding industry. It expresses particular concern about commercially unsustainable prices being offered by South Korean yards. The report also outlines the strenuous efforts made by the Commission to convince the South Korean Government to play its part in creating fair and competitive world market conditions. The report is due to be considered by the Council of Industry Ministers at its meeting on 18.5.00.