The German Government has recently completed the acquisition of the former MV Werften cruise shipbuilding yard at Rostock.
The site will now be developed as a naval shipyard.
Rostock was the largest of the three yards within the bankrupt MV Werften group and will now be used by the German navy. However, part of the yard could be leased for commercial work.
According to German media, at least $40 bill out of $100 bill will be earmarked specifically for the modernisation of the German navy.
Baltic Sea-based Rostock will be in addition to a facility at Wilhelmshaven in western Germany on the North Sea used for naval work. The German Department of Defence said the new location would increase its operational flexibility and strength in the region.
Confirming to German media that the contracts had been signed on 7th July, Defence Minister, Christine Lambrecht said: “Today is a historic day. With the purchase of the shipyard, the federal government is entering new territory. We are aware of the challenges that this undertaking entails. But I also see great potential, both for the Bundeswehr and for the state of Mecklenburg-Western Pomerania.”
She added that the addition of the new Rostock facility would address the lack of capacity and long idle times that had been prevalent in the German navy.
Genting Hong Kong acquired the yard in April, 2016, making significant investments at the site, including $80 mill for a new building hall and an advanced laser-hybrid welding line. It was earmarked for cruise ship construction.
Christoph Morgen, the insolvency administrator for MV Werften told reporters that there are more than 17,000 tonnes of steel at the site, probably from the second ‘Global Dream’ cruise ship.
Work had started on the ship in late 2019, but Morgen recently said the steel and component parts, such as engines that were already at the yard, would be sold with the few blocks that had been completed for the cruise ship offered for scrap.
The building dock is over 1,000 ft long, of which 260 ft is covered, enabling ships of up to 200,000 dwt to be handled.