92/569/EEC: Commission Decision of 31 July 1992 concerning proposed aid by Germany to the Chinese shipping company Cosco for the construction of container vessels (Only the German text is authentic)

• Articles: 4

Article 1

The Commission has established that no development aid is involved in the Cosco contract for the construction of a 2 700 teu container ship by Howaldtswerke-Deutsche Werft AG, Kiel, and that the export credit terms applied are compatible with the common market.

Article 2

The proposed aid for the contract to build three further container vessels for the State-owned Chinese shipping company Cosco, at the Bremer Vulkan yard, Bremen, and the Mathias Thesen yard, Wismar, cannot be regarded as genuine development aid within the meaning of Article 4 (7) of Council Directive 90/684/EEC on aid to shipbuilding and is therefore incompatible with the common market.

Article 3

The German Government shall inform the Commission within two months of the date of notification of this Decision of the measures taken to comply herewith.

Article 4

This Decision is addressed to the Federal Republic of Germany. Done at Brussels, 31 July 1992. For the Commission

Leon BRITTAN

Vice-President

(1) OJ No L 380, 31. 12. 1990, p. 27. (2) OJ No C 22, 29. 1. 1992, p. 4. (3) ECR 2671 [1980].