Lloyd Werft, the builder of the second biggest superyacht delivered in 2021, 139m (456ft) SOLARIS, has filed for bankruptcy.
The bankruptcy is tied in to financial problems that have beset the cruise division of the Genting Group, which owns both Lloyd Werft and the Hong Kong German shipbuilding company MV Werften. The decision will impact more than 300 employees at the Bremerhaven-based Lloyd Werft yard along with 1900 employees at MV Werften which has its headquarters in Wismar.
The financial issues center around the €1.5 billion cruise ship project Global Dream. Financing of the ship, which can accommodate up to 10,000 passengers, is no longer guaranteed despite the project being 75% complete.
Media reports suggest that there are potential buyers for the Lloyd Werft shipyard, with Bremerhaven steel construction company Rönner being most heavily linked.
The local district court has appointed an insolvency administrator and the federal and state governments look set to discuss the future of the shipyard over the coming weeks.
Lloyd Werft has a long and illustrious history that dates back to 1857. Last year it delivered the 139m (456ft) superyacht SOLARIS, reputedly bought by Chelsea Football Club owner Roman Abramovich. It was the second largest superyacht delivered in 2021, behind Lurssen's 141.6m (465ft) superyacht NORD.
On its delivery, the eight-deck motor yacht became one of the 20 largest superyachts on the water today and boasts some impressive figures. She sports over 2,000 square meters (185 sq. ft) of glass in her floor-to-ceiling glass windows, which includes the largest panes ever used in the luxury yacht industry and has the largest ABB Azipod® system ever installed on a private yacht.
With Lloyd Werft more well known for building cruise ships, SOLARIS was only the second superyacht delivered by the yard, although its first was also sizeable, 115m (377ft) LUNA built in 2010.
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