Construction of the first Global Class ship is already well advanced (Source: MV Werften)

International consortium to finance Genting cruise ships

Two Global Class cruise ships currently under construction for the Genting Group at MV Werften are to be financed through a EUR 2.6 billion package structured by KfW IPEX Bank and an international consortium of lenders. The funding follows EUR 750 million guarantees during the ships’ construction issued by the German Federal Government and the Federal State of Mecklenburg-Western Pomerania.
Genting Group has invested about EUR 840 million in the acquisition of the MV Werften shipyards, including EUR 300 million in modernisation and upgrading. It has also doubled the workforce to about 3,000 over the last three years, creating another 1,600 additional jobs and taking on more than 300 new trainees.
Harry Glawe, Economics minister of Mecklenburg-Western Pomerania, said: “With the Global ships and other ship newbuilding projects of Genting Group, employment at MV Werften is safeguarded well into the next decade. New jobs can be created, and existing jobs secured locally, with value added at the yard locations being further increased.”

Shipbuilding
Article Editorial staff Ship&Offshore
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Article Editorial staff Ship&Offshore