http://www.bloomberg.comThe combined investment is valued at around €200 million ($222 million). Additionally, both the German government and Lower Saxony will provide guarantees for 80% of a debt capital credit line worth €2.6 billion (over $2.8 billion), with the remaining 20% of the risk assumed by banks.
Meyer Werft, known for its long-standing partnership with Disney Cruise Line, has faced financial difficulties since the COVID-19 pandemic, which caused delays in shipbuilding payments typically made upon delivery. The rescue package comes at a time when Germany's manufacturing sector is experiencing a prolonged downturn.
Economy Minister Robert Habeck emphasized the government's commitment to ensuring Meyer Werft receives the necessary support to continue its shipbuilding operations, stating, "It’s the firm determination of the government — of me personally and of my ministry, which is doing the work here — that Meyer Werft gets the support it requires to continue to build ships."
Meyer Werft is involved not only in shipbuilding but also in Germany's renewable energy transition, contributing to the construction of large converter platforms near Rostock. These platforms are critical for integrating electricity from offshore wind farms into the national grid.
This financial intervention comes shortly after Disney Cruise Line announced at D23: The Ultimate Disney Fan Event that it would expand its fleet with four new ships between 2027 and 2031, all of which will be built by Meyer Werft. The shipbuilder has already signed a contract for these four vessels, in addition to the four ships already in its order book.
Source: Bloomberg