Despite a flurry of media reports and speculation today, there’s still no confirmation that Blohm + Voss Shipyards is being sold to an investor.
According to a story on Lloyd’s List’s Web site, ThyssenKrupp Marine Systems, which owns the yard, has confirmed it is engaged in negotiations over the future of its shipbuilding operations, but it would not discuss the details of the talks. Reuters reports that ThyssenKrupp has declined to comment on media reports such as these, adding that the company says it is holding talks on the best way to address the current shipbuilding crisis. My own request for confirmation from Blohm + Voss has thus far gone unanswered.
But Lloyd’s List and a German newspaper additionally reference a joint statement issued by the works council of the three Blohm + Voss companies, which are Blohm + Voss Repair, Blohm + Voss Shipyards, and Blohm + Voss Industries. (In Germany, a works council represents employees’ interests and has rights in dismissals and recruitment.) The statement reportedly says that the ThyssenKrupp management board informed the works council that it is in talks to sell Blohm + Voss. Lloyd’s List quotes Herbert Oetting, the chairman of the works council, as saying, “For some months now, there have been several indications that the group might consider disposing of its merchant shipbuilding activities,” and that the naval activities would be excluded from a sale.
ThyssenKrupp restructured its various divisions in early 2008, in response to a slowdown in the worldwide shipbuilding business. With global economies faltering even more since then, the company, like others, has seen orders canceled and has reduced the number of employees. Lloyd’s List additionally cites the cancellation of a contract for six megayachts at HDW, which is another holding of ThyssenKrupp, and reports that the parent company hasn’t received any new orders for yachts or containerships. (As you may know, the Hamburg, Germany facility of Blohm + Voss is finishing work on the 550-plus-foot Eclipse, widely rumored to be owned by Russian billionaire Roman Abramovich.)
As facts emerge, I’ll update accordingly.
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