Croatian shipowner Alpha Adriatic is winding up its LNG and LPG shipmanagement venture after failing to make a breakthrough in the sector.
The former Uljanik Plovidba said its subsidiary Uljanik Plovidba LNG will be deleted from the country's court register and will cease to exist.
The venture, owned on a 50/50 basis with Cyprus-based ETCA Caspian Limited, failed to fulfil its plan to invest in gas projects, Alpha said in a filing.
