Buyers found for one of Genting Hong Kong’s German shipyards

March 9, 2022 Hong Kong Industry Updates

The administrator overseeing Genting Hong Kong’s German assets has reportedly reached an agreement with two local firms to acquire the Lloyd Werft shipyard in Bremerhaven.

According to a report by The Maritime Executive, shipbuilding specialist Heinrich Rönner Group and construction and real estate firm Zech Group will pay between €20 and €30 million for the yard and its real estate, pending regulatory approval, having outbid yacht company Al Seer Marine from the United Arab Emirates. Al Seer had been negotiating to acquire the shipyard last year before Genting Hong Kong was placed under provisional liquidation.

Lloyd Werft is said to be one of the oldest shipyards in operation, having launched in 1857 and been at its current location since 1871. Its recent focus, the report says, has been overhauls and refits with a particular focus on cruise ships.