Genting buys Lloyd Werft shipyard

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Genting Hong Kong announced it has entered an agreement to by the famous German shipyard, Lloyd Werft.

The EU17.5 million investment will see Genting oversee 70 per cent of the new shipbuilding business and 50 per cent ownership of the shipyard land.

“Lloyd Werft has already built and lengthened six ships owned by an affiliate of Genting Hong Kong and has the expertise to build a series of world class cruise ships for the company, which will include the “Exclusive Class” vessels for Crystal Cruises, the most awarded luxury cruise line in the world,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer, Genting Hong Kong. “Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard’s technical expertise as well as their well-established and long track record in the shipbuilding industry.”

Crystal Cruises is also planning to order new luxury river ships from Lloyd Werft which will feature larger suites than currently available in the market.

The itineraries include cruises in the Danube, Rhine, Seine and other European rivers.

Ships from Norwegian Cruise Line including Pride of America, Norwegian Sky and Norwegian Sun were built at Lloyd Werft.