Deputy Minister of Infrastructure Arkadiusz Marchewka and President of the Fund for Company Development (FRS) Aleksandra Skibniewska signed on Wednesday an agreement to recapitalize the shipbuilding industry in Szczecin with PLN 240 million; of which PLN 170 million will go toward completing the dock that the Wulkan Shipyard is building for Gryfia Repair Shipyard.

The “investment” agreement was signed Wednesday morning at the headquarters of the Wulkan Shipyard’s management. Exactly one year after the company’s new management board took office, Marchewka emphasized that the company had closed 2023 with a loss of nearly PLN 136 million. In contrast, 2024 ended with a net profit of around PLN 17 million.

“When we took responsibility for the shipyards, I said that the era of party nominees was over, and that the time had come for professionals in the maritime economy. Today we can see the results (...) We want Wulkan Shipyard to be modern and ready to face the challenges of the future in the maritime industry. That is why our government has decided to recapitalize the shipyards in Szczecin with PLN 240 million,” said Marchewka.

He explained that these funds will be allocated to the construction of the dock for MSR Gryfia and to “increasing production capacity.” The Deputy Minister added that the shipyard plans to build new production halls and purchase, among other things, sheet-bending machines.

Aleksandra Skibniewska, President of FRS, explained that around PLN 170 million will be used to complete the over 230-meter floating dock that Wulkan is building for Gryfia, and more than PLN 50 million will go toward shipyard modernization and “automation of production processes.” The remaining funds from FRS will go to other Szczecin-based shipbuilding companies in which the state holds shares, such as Gryfia.

“Today we are taking another step in developing the West Pomeranian shipbuilding sector,” emphasized Skibniewska.

Speaking about the “launch of a new executive contract for the construction of the floating dock,” she explained that the previous agreement had been terminated by mutual consent. The new contract is to be completed within 24 months and is worth approximately PLN 380 million. The FRS funds could reach Wulkan’s accounts by the end of May.

Deputy Minister Marchewka argued that the 2020 contract for the construction of a large new dock for MSR Gryfia could have led to the bankruptcy of both Szczecin shipyards. He stated that the new contract was signed “under a new formula.”

“One that is profitable, based on economic calculation, and has passed private investor tests (...) The wrongdoings that took place here are now under investigation by authorities following notifications to the prosecutor’s office regarding irregularities,” Marchewka added.

Grzegorz Huszcz, Production Organization Advisor to Wulkan’s management, explained that the new dock construction agreement had been reviewed by the Office of Competition and Consumer Protection and the General Counsel to the Republic of Poland. He described the 2020 contract as irrational and unprepared, noting that the dock design had been changed after two years. The project was delayed and extremely costly.

“After four years, about 35% of the structural elements and about 3% of the outfitting had been completed,” Huszcz said, stressing that “the entire contract amount had already been consumed.”

President Skibniewska pointed out that “of the funds provided to the shipyard under the previous contract, about PLN 100 million was spent on other projects unrelated to the dock’s construction.” Huszcz explained that more than PLN 16 million was spent on structural components that were not used in the build.

In an interview with PAP, Huszcz recalled that the value of work completed by 2024 had been estimated at PLN 256 million. To finish the massive structure, the project had to be “rationalized and slimmed down.”

“The end result is that the dock will remain a fully functional tool for lifting and repairing ships at Gryfia. It will meet all the formal requirements of the classification society. So it is a fully valuable structure, just rationally modified,” Huszcz said.

He noted that the dock (235 meters long, 47 meters wide) is being built in three modules. One has already been launched, the second is nearing completion, and sections of the third module are under construction. “By the end of this year, the two modules currently under construction should be launched,” he told PAP.

According to earlier plans, the structure was to be towed to the Tricity for assembly. Huszcz stressed that this costly (about PLN 20 million) operation has been abandoned. The entire construction, assembly, and outfitting of the dock will be carried out in Szczecin. Wulkan Shipyard is cooperating with private companies on this project.

Wulkan Shipyard’s President, Radosław Kowalczyk, explained that around 2,000 people work on the grounds of Szczecin Shipyard (“Wulkan” itself employs about 200). He emphasized that the development of the shipbuilding industry in Szczecin depends on cooperation between large state-owned shipyards and private companies.

“After a year of work by the management board and the entire shipyard team, we have achieved stability for the company,” Kowalczyk said. He added that the shipyard is executing profitable contracts, cooperating with the private sector, and securing new orders.

He stressed that the recovery plan is scheduled for 18 months and explained that the restructured shipyard has identified three main areas of operational activity: offshore production (including components for offshore wind farms), ship block production (elements of two giant cruise ships being built in German and Finnish shipyards are produced in Szczecin), and cooperation with the private sector using shipyard assets (such as a steel processing plant and paint shop).

Kowalczyk added that “the company is growing in competence.” Nearly 70 companies operate on Wulkan’s premises, employing around 2,000 workers daily — a number that is increasing. “At present, the shipyard is utilizing all of its production assets,” he emphasized.

He announced that in a few months he will provide updates on talks regarding contracts for a series of specialized vessels. He pointed out that the offshore sector, including the construction and servicing of wind farms in the Baltic, offers enormous prospects.