Genting HK owned shipyard goes bust
Genting Hong Kong owned German shipbuilder MV Werften has become insolvent with nearly 2,000 jobs at risk.
Germany blamed Genting as it turned down an aid package offered by Germany’s federal government, Economy Minister Robert Habeck said.
The MV Werften shipyard is based in the state of Mecklenburg-Western Pomerania.
Trading of Genting Hong Kong’s shares were suspended on Friday at the company’s request.
Genting Hong Kong is the parent of luxury line Crystal Cruises, as well as Asia based Dream Cruises and Star Cruises.
The shipyard was constructing a new mega cruise liner for Dream Cruises, which has been delayed by pandemic curbs and financial constraints.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.