Back to News Menu         Cruise News for the Corporate Travel Professional             October 2015

Following on the order of five Crystal ships from Lloyd Werft and reports in August, it has now been confirmed that Genting Hong Kong is taking a majority interest in the Lloyd Werft shipyard in Bremerhaven.

The Cruise Reporter recently reported that following its five-ship Crystal Cruises order with Lloyd Werft, Genting Hong Kong was in discussion with the Bremerhaven-based shipyard regarding acquiring a significant ownership stake.

That interest, said last month to be worth at least 25%, has now been announced as €17.5 million for a 70% interest in Lloyd Werft and half ownership of the land on which the shipyard is situated.    Click to enlarge image

Lloyd Werft has been selected for the construction of three new 100,000-ton 1,000-berth polar class vessels for Crystal Cruises and two new river vessels for Crystal River Cruises.

Today’s shipyard survives from the once-powerful Bremer Vulkan, which went out of business in 1997. 

By acquiring a majority stake in Lloyd Werft, Genting Hong Kong has acquired in house expertise for building new ships for both its upmarket Crystal brand and the newly expanding Star Cruises brand, which fifteen years ago ceded most of its newbuilding program to the nascent Norwegian Cruise Line for its then-new Freestyle Cruising program.

Genting Hong Kong also has on order two 3,364-berth cruise ships at Meyer Werft in Papenburg for delivery to its Star Cruises operation in Asia in October 2016 and October 2017.

It also has an equity stake in Norwegian Cruise Line Holdings, whose fleet now numbers 21 ships operating for Norwegian Cruise Line, Oceania Cruises and Regent seven seas Cruises.

Genting Hong Kong’s latest subsidiary had its beginnings in 1857 and initially focused on the ship repair business. It did not move into the conversion and newbuilding business until the 1970s.     Extract from article by Kevin Griffith

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