The Meyer Werft, known for its cruise ships, is in a serious crisis. Will the state of Lower Saxony and the federal government help? What the Chancellor says.
Federal Chancellor Olaf Scholz is promising federal support for the struggling Meyer Werft shipyard. The SPD politician said at the traditional summer press conference in Berlin: “We are dealing with the issue.” He is in intensive talks with the Prime Minister of Lower Saxony, Stephan Weil.
At the moment, nothing is “ready for a decision or a decision,” said Scholz. “But this is an issue that is a top priority for me and for good reason, because this is a great shipyard with great colleagues who do great work.” He is convinced that what is produced there will continue to be bought and used in the future and will be fully competitive. “So a good starting point to do something to ensure that the shipyard can continue.”
The shipyard, known for its cruise ships, is in the worst crisis of its more than 200-year history. The shipyard currently has orders up to 2028. However, some of the contracts for the cruise ships were concluded before the corona pandemic. Due to the temporary collapse of the tourism market, the orders were extended in consultation with the shipping companies. However, they do not provide for any adjustment to the drastic increase in energy and raw material prices as a result of the Russian attack on Ukraine. The company must raise more than 2.7 billion euros to finance new ship construction by the end of 2027.
Lower Saxony’s Prime Minister Stephan Weil sees a future perspective for the Meyer Werft. “The Meyer Werft is sustainable. And we are working very hard to ensure that it also has a future,” said the SPD politician to the “Nordwest-Zeitung”. According to Weil, a restructuring report that has now been submitted was an important step, “but we have to come to agreements with the banks, between the federal and state governments, the clients and also with the owners.” There is a real chance.
Source: Stern
