Blogs

Hard Times for Uljanik, Jan De Nul Wants Money Back

first_imgJan De Nul Group is demanding the repayment of all installments paid to Croatia’s troubled Uljanik Shipyard, plus interest, after they cancelled an order for Newbuilding 500 – a cutter suction dredger.The Shipbuilding Contract for Hull 500 was signed two years ago between Uljanik d.d. and Dredging and Maritime Management SA (DMM) Luxembourg, the company in ownership of Jan de Nul Group.On April 19, the client said that it would seek the repayment of its advance payments for the vessel that was to have been built by the shipyard, Uljanik said in a statement via the Zagreb Stock Exchange.“Upon the negotiations which lasted few months among the Buyer, institutions of Republic of Croatia and Uljanik d.d. which aimed that instead repayment of advance payments the vessel be completed in Uljanik Shipyard or alternatively in foreign shipyard, the Buyer made final decision by which he requests repayment of advance payments increased for the interest,” the statement said.According to the subject, Shipbuilding Contract Uljanik d.d. is obliged in period of seven days from receipt of the request in headquarters of the company to effect repayment of advance payments increased for interest whereby the part of advance payments has been secured by state guarantees.The interested parties will continue to work on finding a solution to reduce the harm the latest developments are expected to cause to the state and the shipyard.last_img read more

Power Dominates IndyCar GP

first_imgScott Dixon (2nd) congratulates Will Power (1st).Speedway, Ind. — Will Power kept the momentum from yesterday’s pole-winning qualifying time going all day long to win today’s IndyCar Grand Prix at the Indianapolis Motor Speedway.The fourth annual event saw zero caution laps and only four lead changes, all between Will Power and Helio Castroneves. The fastest lap of the race was turned by Joseph Newgarden on lap 68 at 126.539 mph. That didn’t help the young American perform as well as his teammates, though. He drove the only Team Penske entry failing to crack the top ten.2017 IndyCar Grand Prix Winner, Will Power.Following Power across the finish line were Scott Dixon, and Ryan Hunter-Reay, bringing three different teams to the podium.  The pair broke up a Penske Party at the front of the pack, with Simon Pagenaud and Helio rounding out the top 5.Having won the GP pole, and the race itself, Power has now won two of the four biggest prizes in the Month of May at Indianapolis. He now sets his sights on the famed two-and-half mile oval and the 101st running of The Indianapolis 500.Ryan Hunter-Reay, 3rd.Scott Dixon, 2nd.Look for more photos from the 2017 IndyCar Grand Prix on the WRBI Facebook page.last_img read more