Genting Rebrands German Yards, Keeps Focus on Cruise Ships

Image Courtesy: MV Werften

Holding company Genting Hong Kong Ltd has renamed the three shipyards in the German State of Mecklenburg-Vorpommern, which were bought in April, to MV Werften, which will focus on building large new cruise ships.

Lloyd Werft, located in Bremerhaven and bought last September, will focus on its prior business of repairs, conversion and building of megayachts.

“To make MV Werften one of the world’s most modern and efficient cruise shipyards, we will invest EUR 100 million (USD 110.8 million) in a thin plate laser welding line, a cabin module factory, a new covered section block building hall, the modernization of manufacturing control systems and new executive and employee offices and facilities,” Tan Sri KT Lim, the Chairman and Chief Executive of the Genting Group, said.

MV Werften is scheduled to deliver the first four luxury Crystal River ships in 2017, the first of a series of 20,000 gross tonnage Crystal Endeavor Class polar expedition yachts in 2018 and the first of a series of 201,000 gross tonnage Star Cruises Global Class cruise ships by 2020.

The planned annual output of MV Werften will be increased in future years to build two Neo-Panamax cruise ships of over 200,000 gross tonnage each and one Panamax cruise vessel a year.

In September 2015, the company entered into an agreement to invest EUR 17.5 million for a 70% stake in German shipbuilder Lloyd Werft and a 50% ownership in the shipyard’s land in Bremerhaven. At the beginning of 2016, Genting bought the remaining 30% in Lloyd Werft.

The company concluded the EUR 230.6 million acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany, in April, in an effort to build a cruise fleet for its three brands – Crystal Cruises, Dream Cruises and Star Cruises.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >