German Shipyards Face Uncertain Future as Insolvency Proceedings Advance

Economic Minister Habeck expresses cautious optimism for Flensburg and Rendsburg shipyards amid ongoing search for investors.

Insolvency proceedings for the FSG (Flensburg) and Nobiskrug (Rendsburg) shipyards, part of Lars Windhorst's Tennor Group, were initiated on December 12 due to longstanding financial difficulties.
Preliminary insolvency administrators report interest from domestic and international parties in acquiring the shipyards, though no agreements have been finalized yet.
Economic Minister Robert Habeck visited the Flensburg shipyard, voicing his belief in its potential for redevelopment and pledging government support for its preservation.
Habeck highlighted the shipyards' strategic importance, including their potential role in manufacturing offshore energy converters and fulfilling defense contracts for the German Navy.
Employee wages and operational costs are secured through January via insolvency funds and a state-backed loan, but solutions must be found by February to ensure long-term viability.