Genting Hong Kong has signed an agreement to buy three shipyards in Germany, which were built after being acquired by the Lloyd Werft Group at the end of 2015.
The purchase of Nordic Yards' three shipyards in Wismar, Warnemünde and Stralsund will be carried out indirectly by Genting Hong Kong's subsidiaries, including Star Cruises Singapore Investment Holding (SCSI).
The Wismar shipyard has a 340-meter-long dry dock, and the Warnemünde shipyard has a 320-meter-long dry dock, allowing them to build large vessels. In contrast, the Stralsund shipyard can build ships and large yachts of approximately 270 meters in length.
Genting announced that with the rapid growth of the global cruise market, especially in China, cruise demand has reached its highest level in recent years.
