Two of Germany's largest shipbuilders declare bankrupcy | DW News

[beijingwalker]

Two of Germany's largest shipbuilders declare bankrupcy | DW News

 

[Polestar 2]

Those companies are owned by Genting Hong Kong, asian companies. But of course, the worst affected will be local employee of German who will be lay off.

 

[jupiter2007]

Two of Germany's largest shipbuilders declare bankrupcy | DW News

China should buy them.

 

[Bilal9]

Well labor cost (which is high in Germany of course) is only a small component of building ships in any yard anywhere in the world (~20%).

But sourcing cheap ship plate steel is another factor too - where China excels, and maybe Germany doesn't. I am sure German steel is high quality, but it probably is not as cheap as it is in China.

Other than these two factors, I don't know what other factor led to shipbuilding being non-viable in Germany.

 

[Shotgunner51]

Those companies are owned by Genting Hong Kong, asian companies. But of course, the worst affected will be local employee of German who will be lay off.

Yes the leisure empire (casino, hotel, cruise) is headquartered in Hong Kong, boss is famous Malaysian tycoon Lim Kok Thay.

Malaysian Billionaire Lim Kok Thay’s Genting HK Tumbles After Cruise Ship Builder Unit’s Bankuptcy Filing

Shares of Genting Hong Kong—controlled by Malaysian billionaire Lim Kok Thay—tumbled on Thursday as the bankruptcy filing of the cruise ship operator’s shipyard subsidiary in Germany cast doubts on whether the group can meet its financial obligations.

www.forbes.com

 

[tower9]

China should buy them.

To pay for too much overhead and slow turnaround times?

There is a reason why these went bankrupt and east Asia takes over 95% of orders.

 

[Shotgunner51]

China should buy them.

China wont'. Just like German carmakers are good at pushing luxurious brands, German shipyards are good at building luxurious passenger cruise ships, not high-tech cargo carriers say ULCS or LNGC. The market for luxurious passenger cruise ships is small (about 2% of all ships built) and shrinking anyway (due to pandemic), in the shipbuilding business volume is entirely about cargo ships and profits are with the tech-intensive ship types.

If the demand for luxurious passenger cruise ships pickup again in the post-pandemic future, I believe Chinese shipyards will get into this business, if they are not already getting prepared.

 

[beijingwalker]

If the demand for luxurious passenger cruise ships pickup again in the post-pandemic future, I believe Chinese shipyards will get into this business, if they are not already getting prepared.

Already in

Carnival's made in China cruiseliner

its project name, Hull H1508 at the Waigaoqiao Shipyard in Shanghai. The first of two 133,500 gross tons cruise ships are based on the plans for the Vista-class ships sailing for Carnival Cruise Line, which will be launched by 2023 and will have space for 4,200 passengers.

There are plans for a total of four additional Carnival China ships to be built at a later stage. It does seem that at least the first vessel will feature AIDA Cruises branding. This is also the first Carnival Corp cruise ship being constructed in China.

China’s cruise economy, which first opened in 2006, has seen no less than 45 percent annual growth in the past decade. Before the pandemic started, estimates said 4.5 million Chinese people would go on cruises by 2020.

 

[Polestar 2]

Already in

Carnival's made in China cruiseliner

its project name, Hull H1508 at the Waigaoqiao Shipyard in Shanghai. The first of two 133,500 gross tons cruise ships are based on the plans for the Vista-class ships sailing for Carnival Cruise Line, which will be launched by 2023 and will have space for 4,200 passengers.

There are plans for a total of four additional Carnival China ships to be built at a later stage. It does seem that at least the first vessel will feature AIDA Cruises branding. This is also the first Carnival Corp cruise ship being constructed in China.

China’s cruise economy, which first opened in 2006, has seen no less than 45 percent annual growth in the past decade. Before the pandemic started, estimates said 4.5 million Chinese people would go on cruises by 2020.

Its a bad timing to build cruise ship now.

 

[beijingwalker]

Its a bad timing to build cruise ship now.

Carnival cruise pays for it, why should we worry. How should they use the ship is not our business.

 

[Hamartia Antidote]

Carnival cruise pays for it, why should we worry. How should they use the ship is not our business.

actually it is this company

Adora Cruises - Wikipedia

en.wikipedia.org

CSSC Carnival is headquartered in Hong Kong and is majority owned by the Chinese shareholders, which collectively own 60% of the company, with Carnival holding the remainder

Also they are not sending the larger cruise ships to China anymore

Royal Caribbean redeploys Wonder of the Seas to Fort Lauderdale instead of China

Royal Caribbean has changed its mind where it will send the soon-to-be largest cruise ship in the world.

www.royalcaribbeanblog.com

Royal Caribbean redeploys Wonder of the Seas to Fort Lauderdale instead of China

Royal Caribbean has changed its mind where it will send the soon-to-be largest cruise ship in the world.

All 5 of the 225,000+ gross tonnage Oasis Class cruise ships will be homeported in the US.

 

[Apollon]

Those companies are owned by Genting Hong Kong, asian companies. But of course, the worst affected will be local employee of German who will be lay off.

Being unemployed in Germany means nothing. They have gigantic welfare over there

 

[beijingwalker]

World's biggest cruise ship is set to be sold for scrap before first voyage as owners go bankrupt: $1.6BILLION vessel was built with 20-decks and a WATER PARK​

• Global Dream II was constructed by German-Hong Kong shipbuilding firm MV Werften
• It went bankrupt at the start of the year just before construction finished and has not been able to find a buyer
• The mammoth 1,122ft liner featuring a water park and cinema is now set to be sold for scrap to raise funds

There still remains a glimmer of hope that a buyer can be found, with Stena potentially hoping to buy it for the Chinese cruise market

By JACK NEWMAN FOR MAILONLINE
PUBLISHED: 08:12 BST, 1 September 2022 | UPDATED: 14:58 BST, 1 September 2022

The world's biggest ever cruise ship which could carry 9,000 passengers and has cost £1.2billion to build is set to be scrapped before it has ever set sail.

Global Dream II was constructed by German-Hong Kong shipbuilding film MV Werften and was nearly finished when the company went bankrupt at the start of the year.

Since then, no buyer has been found and the enormous 20-deck vessel is now set to be sold for scrap.

The 1,122ft Global Dream II includes a cinema and an outdoor waterpark, and would have the largest passenger capacity of any cruise ship in the world

Despite the huge outlay on construction, the ship is still £200million short of its budget.

Global Dream and Global Dream II are being stored at a German shipyard in Wismar.

No buyer has been found and the enormous 20-deck vessel is now set to be sold for scrap

A towing unit navigates the huge central ship of the cruise liner in Wismar in 2019

The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards that build cruise ships

The yard has been sold to Thyssenkrupp's naval unit to build military vessels, meaning the two mammoth cruise ships have to be removed by the end of 2023.

While Global Dream II is structurally sound, equipment and passenger facilities need finishing.

There still remains a glimmer of hope that a buyer can be found, with Stena potentially hoping to buy it for the Chinese cruise market.

Industry experts TradeWinds said: 'The Global Dream would have no problems finding a buyer in a strong cruise market.

CEO of shipbuilder MV Werften Carsten Haake stands in front of the almost finished cruise ship earlier this year

There still remains a glimmer of hope that a buyer can be found, with Stena potentially hoping to buy it for the Chinese cruise market

'Faced with the tight deadline to get the Global Dream out of its building dock by the end of 2023, recycling the ship in Turkey is a last resort that Morgen hopes to avoid.'

Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016.

The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards that build cruise ships.

MV Werften currently has around 2,000 workers in Germany's northern state of Mecklenburg-Vorpommern.

World's biggest cruise ship to be sold for scrap before setting sail

Global Dream II was constructed by German-Hong Kong shipbuilding film MV Werften and was nearly finished when the company went bankrupt at the start of the year.

www.dailymail.co.uk

 

[tower9]

With rising energy costs, the remnants of Europe’s shipbuilding industry will be finished.

China now controls 60% of global shipbuilding and East Asia controls 95%.

 

[aziqbal]

this is what happened when you give free submarines to Israel

serves them right