This website uses cookies. By using the website you agree to the use. Privacy Policy

Stay up to date


MV WERFTEN receives loan commitment from the Economic Stabilisation Fund (ESF)

MV WERFTEN receives loan commitment from the Economic Stabilisation Fund (ESF)

Expedition cruise ship Crystal Endeavor on the verge of its handover in June, production of Global Dream to be continued

Wismar, 03. June 2021 | During the past few months, MV WERFTEN, together with representatives of the federal and regional government as well as its partner, have been engaging in discussions concerning the possibilities for obtaining interim aid from the Economic Stabilisation Fund (ESF) of the federal government and negotiating the general conditions. This Thursday a positive decision was taken by the ESF. Carsten J. Haake (Managing Director MV WERFTEN, CFO): “We are pleased with the outcome and would like to express our sincere gratitude to the ministries of the federal and regional governments, the KfW investment and development bank and the other banks for their commitment, and also for the hard, but fair negotiations during the course of the past few months. This gratitude is likewise extended to our partner, who trusts and supports us.”

Proceeding from the ultimate decision by Hermes concerning federal guarantees for the post-delivery financing of the Endeavor as well as the granting of ESF funds, the restructuring measures will then be implemented on the basis of the negotiated transfer collective agreement.

Peter Fetten states in this respect: “So far, we have succeeded in dealing with the Corona crisis to the best of our ability, my heart-felt thanks go to our colleagues – each and every one of them. With our partner by our side, we will now, as a shipyard group, successfully manage our orders – initially with a smaller team – and further develop new, innovative ships at the same time.” Carsten J. Haake adds: “The Management and our partner are simultaneously endeavouring to obtain funding for further shipbuilding products in order to secure subsequent employment.”

In the wake of a challenging 14-month period of the pandemic and the Corona-related standstill in cruise shipping and in shipbuilding, there are indications that things are returning to normal and that it will thus be possible to return to the customary level of efficiency in production. The progress currently being made in terms of vaccinations in Europe and in Germany is enabling supply chains to revert to the just-in-time mode, in addition, the travel industry is showing good signs of recovery. The number of bookings received by cruise ship companies is on the rise and these reservations already demonstrate a demand for safe cruises. Peter Fetten remarks in this regard: “We are looking ahead to the future with a mix of optimism and confidence. We shall continue to build innovative and, above all, safe ships.”