Genting Hong Kong’s new shipyard in Warnemunde
GENTING Hong Kong has acquired Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany for 230.6 million euros (US$260.6 million) and is now better equipped to fulfil ship orders for its growing global cruise fleet.
The newly acquired yards, together with the previously purchased Lloyd Werft shipyard in Bremerhaven, will be managed as part of the Lloyd Werft Group.
“Ownership of the yards provides certainty that we can build a fleet of high quality cruise ships at a pace dictated by our growth rather than constrained by supply,” said Lim Kok Thay, chairman and CEO, Genting Hong Kong.
Explaining the supply-side constraints, he said the “cruise ship order book continues to reach all-time highs with orders placed as far out as 2026, 10 years from now”.
Built originally at over one billion euros, the three shipyards have covered drydocks and building halls, allowing for high labour productivity and completion quality as cruise ships can be constructed regardless of weather conditions.
Wismar and Warnemunde shipyards are capable of building cruise ships of 200,000 gross tons each, the prevailing size of the new generation of cruise ships currently being ordered, while Stralsund facility has a ship lift to launch completed cruise ships and megayachts.
Genting Hong Kong will further invest about 100 million euros in thin steel fabrication facilities, cabin module factory and other improvements.
The upgraded yards will be able to support the building of two mega cruise ships and a mid-sized cruise ship or megayacht a year by the next decade.
Genting Hong Kong will also be signing a significant new multi-ship order with the Lloyd Werft Group on May 10, shared Rüdiger Pallentin, managing director of Lloyd Werft, adding that these orders will help support the German and European shipbuilding industrial sector and employment during the current shipping downturn.
As well, the company will open the new Lloyd Werft Design Center in Bremerhaven on May 9, which will house more than 250 designers.
