Lloyd Werft - Germany files for Bankrupcy - Does this Impact DCL?

[GenieDana]

Lloyd Werft Files Bankruptcy and How it Affects Pride of America
Feb 9 - Lloyd Werft, one of Germany's premier builders of cruise ships, filed for bankruptcy protection in Germany this morning creating yet another cloud of doubt about when (not if) NCL's Pride of America will be delivered.

Some reports say the action was precipitated because NCL's January progress payment was not made for Pride of America. CND talked with NCL today about the payment, updates on the status of Pride of America and Norway which is also at the Lloyd Werft yard, and the status of continued hiring for the NCL America ships.

Source: http://www.cruisenewsdaily.com/


This refers to the unfinished ship that sank at the yard (and has not been raised yet). NCL has two more orders with this yard that might also be impacted. That said, this narrows the potential builders of a third DCL ship if things continue to sour - one less shipyard


Oops - Lloyd not Meyer... Maybe a silver lining in this dark cloud - They will need orders in their restructuring - could discounts entice DCL?

 

[Werner Weiss]

Originally posted by GenieDana
That said, this narrows the potential builders of a third DCL ship if things continue to sour - one less shipyard

Your heading says, "Meyer Werft - Germany files for Bankrupcy - Does this Impact DCL?" As the article indicates, it was Lloyd Werft, not Meyer Werft, that filed for bankruptcy protection.

Bankruptcy does not necessarily mean "one less shipyard." It means the shipyard is having cash flow problems, needs protection from creditors, and intends to restructure financially. My guess is it's unlikely that the German government would allow the shipyard close entirely.

 

[LibertyBelle]

Considering NCL had nothing to due with the Pride of America incident I would think that the ship yard would be fully liable for repairing the damages (until the ship is turned over to the cruise line it is the responsiblity of the ship yard) having seen the photos of the damages the Pride of America sustained it does not surprise me one bit that the ship yard would file for bankrupcy protection. I can imagine that their insurance probably will not cover the entire cost of the damages and that they would be paying a pretty penny for repairs.

We shall see what Disney does, this is not a shipyard that they have used in the past... They used Fincantieri in Italy.