Join our crew and become one of the 106,433 members that receive our newsletter.

German Governments Makes Offer for MV Werften’s Rostock Shipyard

A view of MV Werften's shipyard in Rostock, Germany. Picture taken in 2018. Credit: Silvia Friedrich/Shutterstock

German Governments Makes Offer for MV Werften’s Rostock Shipyard

Total Views: 2462
June 24, 2022

BERLIN, June 24 (Reuters) – The German government made an offer to buy the insolvent MV Werften’s Rostock shipyard for its navy, a defence ministry spokesperson said on Friday, in a move to top up capacities for repairing and servicing war ships.

Germany, in response to Russia’s invasion of Ukraine, has been scrambling to bring its military back in shape after decades of attrition following the Cold War.

In a major policy shift, Chancellor Olaf Scholz pledged in February to sharply increase defence spending, including an initial 100 billion euro ($106 billion) fund to fill gaps in weapons and other military equipment.

The defence ministry spokesperson did not disclose what sum the government is offering to pay for the shipyard.

The German navy aims to use the shipyard in Rostock – a town on the Baltic Sea coast in the northeastern state of Mecklenburg-West Pomerania where the naval command is located, too – as a branch of its main arsenal in Wilhelmshaven on the North Sea coast in western Germany.

The navy has also been paying the industry to service its ships, but capacity has been so scarce that warships were out of operation for months while waiting for a slot to be repaired or serviced.

MV Werften, which filed for insolvency in January, had a payroll of around 2,000, including about 1,100 workers at Wismar.

It is unclear whether the navy will succeed in buying the Rostock shipyard as it needs to win a bidding competition and beat potential rivals for the property.

(Reporting by Sabine Siebold, editing by David Evans, Rachel More, and Josie Kao)

(c) Copyright Thomson Reuters 2022.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up


Maritime and offshore news trusted by our 106,433 members delivered daily straight to your inbox.

Join Our Crew

Join the 106,433 members that receive our newsletter.