FRANKFURT, Jan 10 — German-based cruise ship builder MV Werften said it will file for bankruptcy today, as the coronavirus pandemic scuttled the subsidiary of Asian tourism and casino giant Genting.The struggling shipbuilder was taking the step after failing to secure funding for the completion of the “Global One” mega-liner, already 80 per cent of the way through construction, according to the company.
Around €600 million is necessary to finance the completion of the vessel, for which the shipbuilder has been seeking support from the government. The Global One ship sits in Wismar, one of MV Werften’s three shipyards along the Baltic coast of former eastern state Mecklenburg-Western Pomerania, where it employs around 2,000 people.
In all, the government has offered financial support of around €300 million to MV Werften since the beginning of the pandemic.The completion of the Global One and the delayed payment of wages for December were priorities for the union, which criticised the “exhaustion of trust” between negotiators.
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