Croatian-Cypriot LNG JV Disbands

Croatian shipping company Alpha Adriatic and Cypriot partner ETCA Caspian have opted to disband their joint venture Uljanik Plovidba LNG, set up to transport and store LNG, after failing to develop the business, Alpha said on December 9.

Alpha, formerly known as Uljanik Plovidba, is under financial strain, with creditors seizing one of its tankers in late September because of outstanding debts.

Uljanik Plovidba LNG, established in April 2017, has been deleted from the Pazin commercial court register and has ceased to exist, Alpha said in a statement.