Shipyards in crisis

The insolvency of the MV Werften Group poses considerable challenges not only for the structurally weak region in north-east Germany. Experts see a threat to the entire German shipbuilding industry.

10 January 2022 will go down as a black day in the recent history of German shipbuilding. On this day, the management of the MV Werften Group, which belongs to the Malaysian Genting Group and has sites in Wismar, Rostock and Stralsund, filed for insolvency. Lloyd Werft in Bremerhaven, which also belongs to Genting, was also affected. The shock was particularly great in Mecklenburg-Western Pomerania, although it was not entirely unexpected. The shock was particularly great because the shipyards form the industrial core of this federal state. However, it was not just the shipyards that were affected, but also the many suppliers that had established themselves in their neighbourhood.