Brodosplit shipyard in Croatia is said to be close to securing a financing package to restart its shipbuilding operation, according to Croatian news media.

The company’s accounts were unblocked and bankruptcy proceedings have been cancelled, according to the article. The yard had suspended work on newbuilding projects in 2022.

President and Owner Tomislav Debeljak was quoted as saying he had offers from multiple banks for a financing deal, including Credit Suisse, Deutsch Bank and VTB.

The yard is proceeding with the VTB deal.

“It is important to note the money does not go to Russia, but will end up in the German regulator, the counterpart of our HANFA,” Debeljak was quoted as saying.

Once the deal is done, the yard expects to finish the ships under construction including the Janssonius expedition cruise ship for Oceanwide.

Debeljak also pointed to the Storylines residential ship deal, where the yard had signed a newbuilding contract with a 2025 delivery date.