State aid planned for German shipyard

German yard Meyer Werft, one of the world’s leading builders of cruise ships, is set to receive an aid package worth millions of euros from the regional Government of Lower Saxony where the yard is based. Lower Saxony state economy minister Mr Bernd Althusmann said the state is in talks with Meyer Werft about methods of helping the yard, which has been hit badly after the coronavirus crisis brought cruise shipping to a virtual stop. This could include the additional costs of delivering ships along the river Ems which connects the yard to the North Sea. “It is possible to give the yard a secure future perspective,” Althusmann said.

The German shipbuilding association Verband für Schiffbau und Meerestechnik (VSM) welcomed the move. “The signal from the Government sector shows that the political level has understood the challenges in the shipbuilding industry from the corona pandemic and is taking this seriously,” said VSM chief executive Mr Reinhard Lüken. Lüken also called on the German authorities to create market incentives for private investors to order ships with environmentally friendly technology. The Government also needs to examine methods of reducing the cost overheads faced by German shipyards. World shipbuilding prices are falling and yards in Germany and elsewhere in Europe will be under pressure to cut their capacity if moves are not made to help them remain competitive, Lüken said.

Share
Print

Customer service

Do you have any questions? Please feel free to contact us.

Customer service

Do you have any questions? Please feel free to contact us.

Customer service

Do you have any questions? Please feel free to contact us.

Customer service

Do you have any questions? Please feel free to contact us.

Customer service

Do you have any questions? Please feel free to contact us.

Nach oben