Second auction for bankrupt Romanian shipyard Mangalia fails

30 July 2026 The second auction for the sale of Romania’s bankrupt Mangalia shipyard attracted no bidders on July 29, with the EUR 184 million starting price maintained for a third auction scheduled for August 28, G4media.ro reported. A week ago, Irineu Darău, the minister of economy, declared at the presentation of the half-year activity report that this year the German group Rheinmetall, which won a EUR 920 million contract under SAFE for four military ships, will begin the revitalisation of Mangalia shipyard by starting this shipbuilding project. The first auction for the shipyard, held on June 29, also failed to attract bidders. Despite the lack of interest, creditors decided to retain the same starting price, excluding VAT, under a plan providing for at least six auctions at the marke