Skaramangas receivership is proceeding

The receivership of the Skaramangas Shipyards (ENAE), owned by international shipbuilding group Privinvest, is proceeding at a rather fast pace given the complexity of the case.

Less than two months since the decision by an Athens court to that effect, the recording of the company’s assets by the special receiver has already started. ENAE is also returning to the state the plot of land hosting the huge permanent 500,000-ton tank V. China’s Cosco has already expressed an interest in acquiring the land and the tank through Piraeus Port Authority, which it controls.

Of all ENAE’s commercial assets, the sale by tender of the land and the tank is seen as the most likely to come first, as new topographical plans are already being drafted and the property and its usage permits are maturing.

Skaramangas Shipyards’ receivership was an objective that the state and creditor bank Piraeus achieved under pressure exerted on Greece by the European Commission, which pushed hard for the return of past state subsidies.