July 26 (SeeNews) - Croatia's shipyard Uljanik [ZSE:ULJN], which is going through bankruptcy proccedings, said on Friday it has delivered a newly-built polar-class luxury cruise ship to its client, Malta-based PEC Limited.
The ocean going ship can carry 237 passengers, Uljanik said in a statement.
It is a luxury Polar Discovery Vessel of Polar Class 6 COLD DI of 168 metres in length and 21.5 metres in width.
In May, a Croatian court launched bankruptcy proceedings against Uljanik over the shipyard's overdue debts. Subsequently, the court also launched bankruptcy proceedings against the umbrella company Uljanik Group. The group has been in financial trouble for some time due to the adverse effects of the global financial crisis on the shipbuilding sector in general which has led to a drop in the number of orders for new vessels.