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Sunday 21 January 2018

Latvian cabinet subsiding the merchant fleet according to the Dutch magazine Schip en Werf dated 22 March 1935

An item reported that the Latvian cabinet ordered the Government Mortgage Bank to postpone payment and interest from ship owners for another year; earlier was already for 2 years postponed. The cabinet was discussing a plan that the navy yard was to repair merchant ships just asking the repair costs without making profit. In this manner the cabinet hoped that from then  Latvian ships were repaired in Latvia and not abroad as was common in the past.