Genting Hong Kong finalises purchase of Nordic Yards’ shipyards

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Genting Hong Kong announce it had completed the acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Straslund Germany. The acquisition will mean the company can start to build ships for its three cruise brands – Crystal Cruises, Dream Cruises and Star Cruises.

“We are pleased with the completion of the transaction as ownership of the yards provides certainty that we can build a fleet of high quality cruise ships at a pace dictated by our growth rather than constrained by supply as cruise ship order book continues to reach all-time highs, with orders placed as far out as 2026, ten years from now,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer, Genting Hong Kong. “We will begin by building four Crystal river ships scheduled for delivery in 2017 and Crystal Endeavor, the first purpose-built polar class expedition megayacht, for delivery in 2018. Our goal is to grow the yard output to two Mega cruise ships and one mid-size cruise ship or megayacht a year within a decade, not only for our own fleet but also for other cruise lines and yacht owners.”

The newly acquired yards, together with the previously purchased Lloyd Werft shipyard in Bremerhaven, will be managed as the Lloyd Werft Group, optimizing the strengths of each yard for design, fabrication, outfitting and final assembly using the two huge covered drydocks in Wismar and Warnemunde and one ship launching lift in Stralsund.

“Tan Sri Lim, Chairman of Genting Hong Kong will be signing a significant new multi-ship order with the Lloyd Werft Group on 10th May and these orders will help support the German and European shipbuilding industrial sector and employment during the current shipbuilding downturn,” said Rüdiger Pallentin, Managing Director of Lloyd Werft. “To support the new shipbuilding program, Mr. Hui Lim, Executive Director – Chairman’s Office and Chief Information Officer of Genting Hong Kong will open the new “Lloyd Werft Design Center” in Bremerhaven on May 9, which will house more than 250 designers, and Edie Rodriguez, President and CEO of Crystal Cruises, will officiate at the steel cutting ceremony for the Crystal river ships also on May 9.”