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MV Werften: Insolvency administrator praises “constructive discussion” with Genting | NDR.de – News

 MV Werften: Insolvency administrator praises

Status: 01/14/2022 1:04 p.m. After the insolvency administrator Christoph Morgen introduced himself to the three shipyard locations on Thursday, an initial “constructive” conversation followed today with the parent company Genting. Meanwhile, experts are skeptical about the chance of selling the “Global 1”. “We had an initial discussion in a good, constructive atmosphere and will look for financing solutions,” said the provisional insolvency administrator of MV-Werften, Christoph Morgen, on Friday after his meeting with representatives of MV-Wertfen’s parent company, Genting Hong Kong . Morgen didn’t want to say anything about content. He will do this “when we have achieved a result.”

Tomorrow: insolvency proceedings from March 1st

Morgen paid his inaugural visit to the three shipyard locations on Thursday. The insolvency proceedings will be opened from March 1st, until then the wages of the approximately 1,900 employees will be secured, he informed the employees. At the same time, Morgen gave hope that the cruise ship “Global 1”, which was around 75 percent complete, could be completed. Morgen also announced the construction of “Global 2”. However, it is unclear with what money this is to be done and whether the parent company Genting Hong Kong will actually accept the finished ship as planned. How great is Genting’s interest in it and the financial possibilities of the group should also be a topic of today’s conversation, as it was said in advance. AUDIO: Expert: “Hardly believe that the MV shipyards have a chance” (9 min)

Shipbuilding expert is pessimistic: “Floating gambling casino”

The question is where Genting should get the money to pay for the ordered ship. The group, which earns its money from gambling and cruises, has slipped massively into the red as a result of the pandemic. The share price has collapsed and, according to observers, Genting must expect banks to call in loans, which could exacerbate the crisis. The shipbuilding expert Jochen Tholen from the University of Bremen is rather pessimistic – especially when it comes to the “Global 1”. The ship is tailored to Genting and its business model, Tholen told NDR Info: “The ‘Global 1’ is nothing more than a floating gambling casino. In this respect, I don’t see where there should be buyers,” says Tholen. The expert sees a total of black when it comes to the construction of new cruise ships. The market will probably only get going in three or four years – that’s too late for the MV shipyards.

Federal Finance Minister Lindner promises help

So it seems to be a real mammoth task to finish building the “Global One” and then to be able to sell it. The situation is also difficult at the locations. Insolvency loss money is still available until the end of February, but what happens then is unclear. The state government is considering a transfer company. The federal government has also signaled that it will help. The federal government will do everything to support the employees at the locations in Wismar, Stralsund and Rostock, the newspapers of the “Redaktonsnetzwerk Deutschland” quote a letter from Federal Finance Minister Christian Lindner (FDP) to the general works council. Lindner assigned responsibility for the situation to the parent company Genting Hong Kong. The shipyard owner refused to pay the necessary personal contribution as a prerequisite for state aid. Further information In a special session, the AfD opposition accused the state government of having relied on the MV shipyards and their parent company for far too long. more

Schwesig: “Federal support is important”

In an emergency session of the state parliament on Thursday, Prime Minister Manuela Schwesig (SPD) defended the course of the state government. Now we have to look ahead. But the support of the federal government is important for this. It is unclear whether the federal government is now involved in the form of a guarantee. At least the previous federal aid was recently linked to conditions for the parent company Genting Hong Kong.

“Unfortunately, the uncertainty remains”

“It is the firm will of everyone involved – politicians, customers, my will – that we finish building ‘Global 1’ and that we do not rule out building ‘Global 2’ either,” said Morgen on Thursday. However, there are prerequisites for this: “We need the money and we need someone who not only wants to take over the ships, but can also take them off.” He currently has no answer to these open questions, so Morgen. “That will have to be clarified in the next few weeks to see if there are any options.” There is serious support from the political side, but “in the end it also depends on external factors, so unfortunately the uncertainty remains.”

Rostock Mayor Madsen: “Turn tradition into innovation”

Rostock Mayor Madsen sees the future of the Rostock location as an energy port. Rostock Mayor Claus Ruhe Madsen (independent) was also cautiously optimistic on Thursday: “I think it’s good that everyone is committed to the shipyard and that nobody says: ‘Now we have to distance ourselves’,” said Madsen after his visit the shipyard to the NDR. The insolvency administrator makes a “positive impression” and the owners are still interested in completing the ships. “But we also have to look ahead and turn tradition into innovation: energy transition – Germany’s energy port can do more,” said Madsen.

“A Little Hope”

Hopeful voices also came from the workforce after the visit. “In the short term, that’s reassuring for you,” said designer Alexander Harms. One senses that it is important to politicians that salaries are paid and that it is important to continue the projects. “It gives you a bit of hope. After two years of trepidation, I owe it to my family to come home with good news.”

Challenge: keeping skilled workers

Overall, the future of the three shipyard locations in Wismar, Warnemünde and Stralsund remains uncertain – according to Morgen, there will be a gap between the completion of “Global One” and a possible conversion of the shipyard site for other maritime services or renewable energies. The challenge is to keep the skilled workers until then. The MV shipyards filed for bankruptcy on Monday; the step was preceded by weeks of negotiations between the company, the federal government and the state of Mecklenburg-Western Pomerania. Further information First of all, the restructuring expert will have to take care of the outstanding wages and salaries of the employees. more After MV Werften filed for insolvency, the search for solutions for the Wismar, Stralsund and Rostock locations is in full swing. more Does the state of Mecklenburg-Western Pomerania have to pay a loan of 78 million euros to the Genting group in Hong Kong? Both sides argued about this at the Schwerin district court. more This topic in the program:

NDR 1 Radio MV | 01/14/2022 | 12:00 o’clock

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