HANSA VSM Special - Ships made in Germany 2021

group had to file for insolvency. Immediately, the search for
a new owner was started in order to secure the know-how.
Fortunately, the major cruise shipping companies managed
to obtain sufficient liquidity on the capital market so
that no order cancellations were necessary.
In this way, leeway time can be created by stretching out
orders, making it easier to adjust to the changed market
situation. However, this year‘s hoped-for break-even for
most cruise operators is not yet realistic. The enormous
debt of almost 60 mill. € of the industries big three alone
means that significant orders for new ships cannot be expected
in the coming years. This results in difficult prospects
for this market segment‘s, particularly complex value
chain. Public perception often focuses on shipyards.
In the VSM‘s view, it should not be overlooked that the
adverse employment effects in the downstream value chain
are many times greater: »The focus must now be on maintaining
the substance and long-term competitiveness. In
this respect, short-term adjustments are necessary in order
not to gamble away long-term success.«
The great uncertainty regarding the future prospects of
several shipyard and supplier locations in Germany is creating
depressing circumstances for many employees. Declining
numbers of applicants to the shipbuilding branches of
study prove that this uncertainty may already be having an
impact on the development of tomorrow‘s skilled labour.
Growth markets
Despite the challenges, there are also opportunities and
growth markets for German shipbuilding. The sharp rise in
orders in Asia, especially in the container segment, is stimulating
demand for important segments of the supply industry.
New orders were also secured for mega yachts and government
vessels. The capacity utilisation of the repair yards
was satisfactory in the past year.
Especially the high utilisation of Asian shipyards and the
associated enormous price increase for newbuildings give
European and German shipyards hope for additional business.
In some cases, newbuilding series from the container
and multipurpose shipping sectors are even being enquired
about and negotiated, such as at the Flensburg shipyard
FSG. With Tennor Holding as its new owner and following
the takeover of the Nobiskrug shipyard, FSG is open for new
projects. One focus is to be on military newbuildings (FSG)
and the yacht business (Nobiskrug).
The German shipbuilding industry has been known for
the latter for years. Among the world-renowned brands are
the Lürssen Group – which has spun off its naval division to
16 HANSA – International Maritime Journal