Crystal Cruises’ parent buying German shipyard

Wednesday, 18 Sep, 2015 0

Crystal Cruises’ parent company Genting Hong Kong is set to buy Lloyd Werft shipyard in Germany.

Genting HK, which acquired Crystal earlier this year, has entered into an agreement to buy the Bremerhaven shipyard, which includes 50% ownership of the shipyard’s land.

"Lloyd Werft has built and lengthened six of the ships owned by an affiliate of the company and has the expertise to build a series of world class cruise ships, which will include the ‘Exclusive Class’ vessels for Crystal Cruises," said Genting HK CEO Tan Sri Lim Kok Thay.

"Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard’s technical expertise and their well-established and long track record in the shipbuilding industry."

It follows the recent news of a major expansion planned for Crystal Cruises which will more than double its current fleet, and announced the launch of Crystal Yacht Cruises later this year.

Crystal also plans to move into river cruising in 2017.

"With such great anticipation for Crystal River Cruises and Crystal Exclusive Class ocean vessels, we are incredibly excited about Genting’s groundbreaking investment in the Lloyd Werft shipyard that will contribute mightily to Crystal Cruises’ expansion," said Edie Rodriguez, Crystal’s president and CEO.

Genting has a major shareholding in Norwegian Cruise Line and also owns Asia based cruise line Star Cruises.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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