Press Release: State aid: Commission agrees delivery date extension for two tankers at Portuguese yard

The European Commission on 8 September 2005 decided to allow an extension of the delivery date for two product/chemical tankers built at Estaleiros Navais de Viana do Castelo, Portugal in derogation from the EC Treaty state aid rules on shipbuilding. As a general rule, shipbuilding contracts signed before the abolition of operating aid in 2000 had to be executed at the latest by the end of 2003 in order to benefit from such aid, which could amount to up to 9% of the contract value, but derogations can be allowed under strict conditions. Due to the technical complexity of the construction of these two ships, the Commission decided that the strict conditions were met and approved an extension of the delivery dates.