‘Dark day’ for German shipbuilding as two firms file for insolvency

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DPA

German cruiseliner manufacturer MV Werften and another shipbuilder, Lloyd-Werft, both filed for insolvency on Monday, in what unions have called a “dark day” for German shipyards. The cruise industry has suffered a severe loss of business due to the coronavirus pandemic, and MV Werften – with some 1,900 workers – and Lloyd-Werft – with a staff of 300 – finally succumbed to the financial pressure on Monday. Interim administrators in Hamburg have already been appointed for Lloyd-Werft, which specialises in passenger ferries and large yachts. The news about MV Werften was confirmed by a court in …

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