After an unsuccessful first call for bids a few months ago, Croatia will try again next month to privatise its shipyards. Today, the Croatian government decided to reopen the bidding competition on January 6th.

Six of the seven shipyards will be sold for one Euro, but the future proprietors must take on the enormous debts and the risks of a sector considered unprofitable due to competition.

The only shipyard being offered at market price is the one in Pula, which has resisted changes to the market and generated profits in recent years.

Once the country's flagship export industry and second-largest hard-currency earner, after tourism, the Croatian shipbuilding has now for years depended on subventions in order to keep the yards operating.

The sale of shipyards is one of the prerequisites for Croatia’s entry in the EU.