Genting HK to invest 100m euros in its German shipyard MV Werften

Afile picture shows Genting

HONG KONG: Genting Hong Kong Ltd will invest 100 million euros in its German shipyard, MV Werften to focus on building new large ships.

In a statement today, Genting Hong Kong said the three shipyards in the German State of Mecklenburg-Vorpommern bought this April would be named MV Werften, be managed in Wismar and would focus on building large new ships.

Lloyd Werft, located in Bremerhaven and bought last September, would focus on its prior business of repairs, conversion and building of megayachts.

“To make MV Werften into one of the world’s most modern and efficient cruise shipyards, we will invest 100 million euros in a thin plate laser welding line, a cabin module factory, a new covered section block building hall, the modernization of manufacturing control systems and new executive and employee offices and facilities,” Genting Group chairman and chief executive Tan Sri Lim Kok Thay.

The group has also appointed Jarmo Laakso as the managing director of MV Werften.

Laakso has more than 35 years’ experience in building passenger ships, including the latest generation of mega cruise ship, including the Quantum of the Seas. He has a unique yard and owner perspective as he has worked for Meyer Werft from 1998 to 2004 and for Royal Caribbean International from 2005 to 2015.

Mecklenburg-Vorpommern’s Economy Minister Harry Glawe said: “We highly appreciate the commitment of Genting Hong Kong. This is a strong signal and a clear statement from Genting on the shipbuilding industry in Mecklenburg-Vorpommern - and in particular, the shipyards in Wismar, Rostock and Stralsund.”

MV Werften will deliver the first of four luxury Crystal River ships in 2017, the first of a series of 20,000 gross ton Crystal Endeavor Class polar expedition yachts in 2018 and the first of a series of 201,000 gross ton Star Cruises Global Class cruise ships by 2020.

Genting said the planned annual output of MV Werften would be stepped up in future years to eventually build two Neo-Panamax cruise ships of over 200,000 gross tons each and one Panamax cruise vessel.

MV Werften has docks, fabrication halls and painting shops which are all covered and, as a result, is able to produce cruise ships of the highest quality and workmanship, valued at more than 2.5 billion euros.

“We will build on the strength of the 1,400 employees of MV Werften,” Laakso said.

“We have hired and are still hiring more people with cruise shipbuilding experience who, with the current workforce, will make MV Werften one of the most efficient and innovative cruise shipbuilders in Europe,” he added.

Lloyd Werft in Bremerhaven will continue to be led by managing director Ruediger Pallentin, Dirk Petersjohann and Carsten Haake and focus its previous business on repair and conversion and with its recently established “Lloyd Werft Design Center”, will strengthen its ability to build megayachts.