Regardless of a robust order e-book for brand spanking new cruise ships into the following decade, the way forward for the Meyer Werft shipyard in Papenburg, Germany, stays unsure. Nevertheless, it’s trying extra doubtless {that a} state bailout will occur.
Authorities Might Provide a Bailout
In latest months, there was speak of potential loans from the state of Decrease Saxony or the federal German authorities. Based on a report by information outlet Redaktionsnetzwerk Deutschland, they may each staff as much as safe the shipyard’s short-term monetary future. The shipyard was based in 1795 and has been led by seven generations of the Meyer household.
| The shipyard’s present monetary plight is taken into account essential. It wants a money injection by mid-September simply to pay staff’ wages. The report suggests the state and federal governments may mix to take a 90% share of the shipyard till 2027 or 2028. |
They might share the whole value of €400m. The governments may then give the shipyard mortgage ensures of about €2.8 billion to finish its cruise ship orders. Sources advised native media that the state of Decrease Saxony would doubtless take the lead on this.
A few of Meyer Werft’s ship tasks have been inked earlier than the pandemic and haven’t been adjusted for the a lot increased power and supplies prices since. The shipyard employs about 3,300 staff.
The shipyard has commitments for ten cruise ships, together with a brand new order for 4 ships from Disney Cruise Line introduced per week in the past.
The Disney Treasure, a part of an earlier Disney Cruise Line order, not too long ago left the Papenburg shipyard forward of a December 2024 launch.
The Disney Future can also be below building and is anticipated to be accomplished subsequent yr. Different ongoing cruise ship tasks embrace two Carnival Cruise Line Excel class ships.
This shipyard has additionally constructed ships for Royal Caribbean, Norwegian Cruise Line, Celeb Cruises, and different firms.
