Spanish yards hope for new orders as subsidies get repaid

Spanish yards believe that more than 50 contracts have been lost since July, when the European Commission (EC) raised the prospect of EUR 2bn ($2.76bn) in illegal subsidies having to be repaid.

The uncertainty has put a freeze on Spanish shipbuilding orders this year, but that could change after 18 November when the Spanish government is expected to announce that it will have paid back the subsidies, yard spokesmen believe.

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