Delay may benefit UK shipyards

British shipyards could apply for subsidies in 1998 if the US Government continues to delay signing an international agreement to scrap subsidies for shipbuilders. The US has yet to ratify the Organisation of Economic Cooperation and Development (OECD) shipbuilding agreement. `European Union subsidies will remain in force this year and unless a compromise is reached […]

British shipyards could apply for subsidies in 1998 if the US Government continues to delay signing an international agreement to scrap subsidies for shipbuilders.

The US has yet to ratify the Organisation of Economic Cooperation and Development (OECD) shipbuilding agreement.

`European Union subsidies will remain in force this year and unless a compromise is reached with the US they might last through 1998 as well,’ said one European Commissioner.