Cruise ships may be sailing again, but the fall-out from the global pandemic is still being felt, spearheaded by the bombshell news that leading German ship builders MV Werften and Lloyd Werft Bremerhaven have filed for bankruptcy.
The fate of thousands of workers is now in the balance after the yards’ parent company, Genting Hong Kong, failed to negotiate a rescue plan with Germany’s federal government.
Genting Hong Kong also owns Crystal Cruises, Asia-based Dream Cruises and Star Cruises, and nerves will be jangling after trading of Genting Hong Kong’s shares were suspended on Friday, at the company’s request.
It is understood that a number of prospective buyers for the German yards have already made their interest known.