The German government has stepped in to provide a potential lifeline for Meyer Werft, the shipbuilder behind many Disney Cruise Line vessels. In a new deal, detailed in a recent article by Bloomberg, both the German federal government and the state of Lower Saxony will acquire a 40% stake in the privately-owned company. This agreement also includes an €2.6 billion debt capital credit line, 80% of which will be guaranteed by the government, with banks taking on the remaining 20%. The total federal contribution amounts to around €200 million ($222 million).
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This support comes at a crucial time for Meyer Werft, which has been facing challenges amid a broader slowdown in Germany’s manufacturing sector. The shipbuilder is not only essential to Germany’s economy but is also involved in key renewable energy projects, helping to build converter platforms to support offshore wind farms. Chancellor Olaf Scholz, optimistic about finding solutions for Meyer Werft, noted that further approvals are needed from Germany’s parliament and the European Commission.
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For Disney Cruise Line fans, the timing of this deal is notable. Disney recently announced at D23 that four new ships will join its fleet between 2027 and 2031, continuing the company’s long-standing partnership with Meyer Werft. This agreement ensures that Meyer Werft remains a key player in delivering these highly anticipated vessels, and that the ships can be completed within the timeline already announced by Disney.
