Genting Hong Kong said
it has acquired three German shipyards from Nordic Yards for
231 million euros (about $250 million).
The yards are
located in Wismar, Warnemunde and Straslund. Genting said that together with
the purchase of the Lloyd Werft yard last year, the acquisition will enable
it to realize its shipbuilding strategy for the coming years.
“The rapid growth
of the world cruise industry, especially in China, has led to cruise ship order
books reaching an all-time high,” said Tan Sri Lim Kok Thay, chairman and CEO, Genting Hong Kong. “In order to ensure that the company can
build the required number of cruise ships in the next decade for our global
fleet expansion, it is strategic that we acquire shipyards that can build our
cruise ships in a timely basis and in a more cost-effective manner.”
He said ownership of the shipyards will free Genting from both the delivery timing and pricing uncertainties associated with
the cruise ship order book cycle, and allow management to focus on strategic
planning and operations.
Genting’s brands include Crystal Cruises, Star Cruises and Dream Cruises, which
is in development.