- Positive signals from the Ministry of Economic Affairs for Meyer Werft
The Federal Ministry of Economics also offers support to the ailing Meyer-Werft in Papenburg. "We have an interest in having relevant and good shipyards in Germany, so we are examining financial assistance," said State Secretary Franziska Brantner to the "New Osnabrücker Zeitung". "The Meyer-Werft is seen as very valuable and important in the Ministry of Economics, both economically and in terms of security policy," emphasized the Green politician. If there is a "promising restructuring plan, companies, the state, and the federal government should come together and look at what kind of financing would be best to help," said Brantner.
Previously, the SPD in the Bundestag and the Green budget and economic policy spokesman Felix Banaszak had already spoken out in favor of state aid. The shipyard, known for its cruise ships, is in the worst crisis of its over 200-year history. The shipyard currently has orders until 2028. However, the contracts for the cruise ships were concluded before the Corona pandemic.
Due to the subsequent slump in the tourism market, the orders were extended in agreement with the shipping companies. However, they do not foresee an adjustment to the dramatically increased energy and raw material prices as a result of the Russian attack on Ukraine. The company must raise more than 2.7 billion euros by the end of 2027 to finance the construction of new ships. Guarantees from the federal government and the state of Lower Saxony are considered possible.
Brantner suggested that if Meyer-Werft presents a promising restructuring plan, companies, the state, and the federal government should collectively explore the best financing options to aid the shipyard. Despite the current crisis, Meyer-Werft continues to have orders until 2028, but the company faces challenges in adjusting to the surge in energy and raw material prices due to the Russia-Ukraine conflict, potentially requiring additional support.
