Kiel naval shipyard the rescue?
TKMS flirting with insolvent MV shipyards
3/22/2022, 3:36 p.m
Thyssenkrupp Marine Systems is working at full capacity for years to come. The Kiel submarine shipyard is therefore considering expanding its capacity. The insolvent MV Werften gives hope.
The Kiel submarine shipyard Thyssenkrupp Marine Systems (TKMS) has kept an eye on the insolvent MV Werften. TKMS currently has a good order situation, said a shipyard spokesman. “In the course of this, there are also considerations about capacity expansions in Germany in order to be able to process the production of current orders in the best possible way and, above all, in a timely manner.” The company is currently “still in the idea phase, the situation is still very general”.
The spokesman for the insolvency administrator of MV Werften, Christoph Morgen, did not want to confirm or deny the offer. Confidentiality was agreed with all interested parties. It was also said that indicative offers should be submitted by the beginning of April. These initially contain no precise information from interested parties about their plans and financing.
TKMS is busy for years to come. The shipyard is building two submarines for the German Navy and four more for the Norwegian Navy. The order volume is around 5.5 billion euros. According to earlier information, the delivery of the first submarine for Norway is expected in 2029, the delivery of the two boats for the German Navy is planned for 2032 and 2034. In addition, it became known at the end of January that Israel is buying three more submarines in Kiel.
Insolvency proceedings for MV Werften began on March 1st. The reason for the insolvency was the corona-related slump in the global cruise market, which caused the previous shipyard owner Genting Hong Kong to lose its solvency. It is unclear whether the giant cruise liner “Global Dream” commissioned by Genting can still be completed. Insolvency administrator Christoph Morgen is looking for a new buyer, as well as interested parties for the Wismar and Rostock-Warnemünde shipyard locations. The citizens of Stralsund have already decided to buy the shipyard there.