Two of Germany's largest shipbuilders declare bankruptcy | DW News
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- Опубліковано 12 вер 2024
- It's been a dire few months for the cruise industry -- latest victims are Genting Hong Kong’s ship-building units MV Werften and Lloyd-Werft, both of which are insolvent after aid from the German government stalled.
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Always the hard working man who does the most suffering whenever there is a downturn. I wish those men well
Most of the "hard working men" support the authoritarian and unscientific government shutdowns of the economy.
@@freetrade8830 They use Fear and debt to enslave the working man.
A mortgage, other debts and children keep them silent.
@@obelic71 Who is "they" and how do they "enslave" the working man?
Economy goes up - billionaires get richer, working class gets nothing.
Economy goes down - billionaires still get richer, working class loses their jobs.
Rinse and repeat.
@@freetrade8830 You wrote who "they" is yourself, and then Richard Smeets wrote the how part. Are you smoking something?
And this is why you can not close down an economy for a virus of this rather small impact.
I don't think cruise industry is down just because of governments 'closing down the economy'. What is the chance now that you will spend your week sick going on a cruise ?
Small impact until you know some one who died of covid. Or family.
@@TsLeng tradeoffs and cost / benefit analysis say it is better to keep open. I took 2 shots and had myocard and I am healthy. All decisions involve an opportunity cost.
@@dmitripogosian5084 Put the info from ALL sides out there and let people make choices. Yes, many industries would have been slower, but to just shut them down is tyranny.
@@TsLeng you do understand that after 23 months 97% of the globe never got Covid. ‘Until a member of your family dies’ - you mean like any year of a million different diseases. Have you been prepared to make those same sacrifices for people dying every year (the same affected by Covid in fact) of the flu or pneumonia or is that acceptable for you? In fact do you actually cure a virus by creating poverty and unemployment?
After the vultures swoop in and buy up the companies for pennies on the dollar, the cruise industry may magically rebound.
There will be much swooping.
Good, then some people can get their jobs back and that ship won't go to waste.
This mostly effects the Chinese venture they work for, and frankly these kinds of high profile collapses are frequent over there due to extreme leverage.
As long as it's not Chinese money
FROM TOMORROW SHUT ALL FUNCTIONS AND MAKE SEMI LOCKDOWN IS HELP FULL TO PREVENT INCREASING OF COVID CASES. WHAT IS THE USE OF LOCKDOWN AFTER INCREASING MORE COVID CASES...
Of course, especially after trade unions are destroyed. That’s what Thatcher did in Northern UK. It turns working folk in favor of authoritarianism or its darker versions. Next step Gerixt.
Europe, especially Germany is export dependent on China. Since the Chinese economy is slowing down don’t expect China to buy any large German ticket items.
Just ask Biden for help. The American are great helper.
Let the communist station troops in germany theyll buy them ships
What slowdown? BMW had record sales in China in 2021 and expects growth in 2022. Audi, Porsche and Mercedes-Benz have not yet reported on the second semester but saw increased demand and record sales in China during the first half of 2021.
Sad for the *checks notes* lack of demand for mega yachts.
Mega billionaires have not been affected by Covid pandemic. Luxury Yatch builders are located in Italy and the US. No problem at that side.
Class warfare is so lame, Mason Headdick.
no, it's a sad day for all those people who lose their jobs
@@AustinCKinghorn I praise our oligarch overlords just as the Chinese praise the CCP. Don't accuse me of not being a patriot! I will happily march to the Mcjob for the wagie pay or fight in the McWar against the enemies of freeeeedumb!
Banksy needs to tag one of these "Sani Flush Commode Colossus"
I do feel bad for the employees, they are left without a job and they have family to support, even if they close down so many workers are left hanging 🥺
There is Germany.If Theybwanna they can migrate Turkey.Turkey have boom in this industry
@@69socialmedia97 but the pay is cheap in Turkey.
& the Turkish Lira has been weakening over recent years let alone almost collapsing in December 2021!
Cruiseships are now more being scraped then build.
High upkeep and ownership costs of such a ship with no earnings is killing cruiselines and ships.
Those shipyards specialized themself into these type of ships and sadly draw the short straw now.
Positive is that practical high skilled labour is in high demand.
Negative is that that region of Germany has less other metal industry then shipbuilding.
By moving to other parts of Germany for your job you also have to change your social and family life.
Moving is not so commen in Europe like in the US due to the strong family bonds.
@@Robin.Burke-Optical_Collusion That is why Turkish industries growing and German industries lost power.
Non European owned companies should receive no aid from the government
No company should receive any aid from the government.
@@arunavaghatak6281 wich ends in many ppl ending up unemployed. Less work on the labourmarket more applicants is not healthy
The West has fallen.
Exactly. The true "dark day" had already arrived the moment these two important companies were peddled off to the Chinese -- just like a large proportion of Germany's other heavy industries. On the other hand, any German company investing in China is - by Chinese law! - barred from owning more than 49% of company shares. Can you see the imbalance in China's favor? And it's been like that for decades and decades. Time to finally put a stop to that sell-out to China.
@@thaitom6410 It wouldn't matter German car manufactures in China are dying slowly because they cannot compete in EV (slow in design and implementation) another 5 years you will see foreign cars slowly disappear in China.
Very unfortunate for the workers, nobody needs those ships anymore and hopefully never will. Waste of resources and just a giant polluter.
lol. so is the entire entertainment industry. from sports to television to movies. so i guess get rid of it all.
You're right. The communist gulags never had a vacation and the pinnacle of their dreams was a slice of bread.
@@beeman1246 nice!!
Now if we can just get rid of the jets.
@@antpoo now youre talking!
The top 10 billionaires had their wealth double in a year while millions of people were sent into poverty.
They should at least have the decency to order another megayacht each.
Well stop printing money
Billionaires buy super-yachts. They also buy tofu, koi and bug repellent. What's your point? That they didn't buy these ships or that the impoverished didn't make a billion each?
@@Le_Comte_de_Monte_Felin If you are referring to my comment, that was meant as a sarcastic joke. Maybe I should have added a smiley, but then I don't feel like smiling. That part of Germany is struggeling anyway.
To be fair, it is the 3rd time the Lloyd-Werft has declared bancrupcy, lol.
Meanwhile, Chantiers de L'Atlantique in St-Nazaire are full of orders.
For different reasons the Clyde shipbuilding failed. From building ocean liners,excursion ships and warships the Clyde only has one yard building naval ships and the other failing miserably to build ferries!
Just went onto that same cruise model in Hong Kong under the same company last month. It wasn't bad but the quarantee in Hong Kong meant the cruise couldn't travel abroad because even Hong Kong citizens returning from other countries would need to get tested 1st before being forced to stay in designated hotels for 21 days!! (or forced to stay in hospitals if you are tested positive)
The fees for hotels cost more than than the cruise trip, so that s why the cruise set sail to south china sea for a few days before going back to HK. Latest development in HK meant even cruises to nowhere are temporarily banned.
Got to mention that ventilation is a big problem as the corridors and even the rooms are quite stuffy. The air felt pretty stagnant and covid clusters could be easily formed.
How did your post get top to the top of this list while it needs so much effort to read?
@@davebauman4991 lol
The cruise ship industry is the pinnacle of human waste of resources. There is plenty of room for shipyard growth but it wil take a few years of suffering for the employees before they turn the ship.
Stellar work and beautiful ships these workers made. They should keep their head up high and be proud of the miracles they have produced!
Высоко поднятой головой и гордостью семью не накормить! Нужна работа, нужна кооперация, нужны связи между странами! Этот мир можно изменить только если перестать строить заборы и "дружить впротив кого-то".
Well that should pay the bills hey.
I wonder how much state subsidies it took to keep those shipyards alive because Germany isnt cost effective at such manufacturing. Nor is France.
Sad part is, that recovery may not happen soon enough to save those companies and the jobs that people depend on.
* that recovery may not happen * ever . . . !
@@EllieMaes-Grandad oh it will,thing about us humans is that we like to forget. when 9/11 happened my aunt said that she would never take a plane again,6 months later she was on her honeymoon in the seychelles
There are far more cruse ships than the world requires right now. Decent ships are being scrapped. Recovery will take a number of years.
2022 may have a lot of news like this... as the extent of globalisation is revealed, and impact of the retreat of it begins to be felt around the world. It's a global debt/liquidity thing.
No recovery is needed.
There's no obligation of vaccination. More and more people get sick. And many healthy people still think corona is a lie or new variation does no harm. Politician deny to make decision or take the responsibility.
Whole country is suffering half lockdown since 2020. There is no end.
I feel for the workers but cruise ships are a nightmare and shouldn’t be a thing
Why are they a nightmare ?
ure a nightmare too
Your mom had a nightmare
This is a good thing by ANY measure. We don't need big time polluters like cruise ships and private yachts. Less is better.
People will lose their jobs and upon an economic rebound, those ships will get built somewhere else
@@WhiteChocolate74 China :(
@@IDontWantAHandle101 yup 😔
@@WhiteChocolate74 That argument is silly because if we were to follow that line of argumentation, we should not lock away thieves, drug dealers etc., because someone else will steal, sell drugs etc.
@@weisserth ship building is a legitimate profession that has some negative environmental impact. It's not comparable to crime and other anti-social activities. It's not worth destroying economy over environmental concerns when India and China are the biggest polluters on the planet and show no signs of stopping.
This signals larger problems in economy.
Also the U.S. Has been quiet. Almost concealing the present virus situation.
How so?
8 miles south of Boston - When the shipyard here closed the nearby community suffered for about 12 years.
Well, 12 yrs ago it was post financial crisis times. In 2022 theres an increasing shortage of qualified workers in Europe, probably in the states too. I dont the think the situation of the workers is that gloomy. The majority will find employement elsewhere.
@@yellfire Weird = Sudden labor shortage. Where did the labor go?
😔, sad, f pandemic, I hope the workers can find a way to carry on, and, I also feel sad for the companies which are also struggling, it's hard to build something big, and probably harder to close it...😢
quite frankly - Europe is in dire need of having about 20 "supercarriers" for power projection.
that would be adequate number per populace to match the US.
@@Paerigos I hate guns, money just spent..., but yeah, I guess we need them now...😒, world(europe mainly) still doesn't trust Germany to rearm, and to arm us(EU), but they make the best stuff...
🤣🤣🤣🤣🤣🤣 CHINA RIGHT NOW
This year will be a depression year, with lot's of bankrupcies, lot's of poverty, like the 1930's in the EU, and then possible WW III???
@@willyholdsman3956 no
Covid19: im not done yet.
I work for MV Werften.....i can tell you that the German govt comes across as more interested in wanting to build offshore wind platforms rather than cruise vessels. A strategic attempt to achieve its 100% renewable energy target
Sounds great until in 100 years everyone panics because they will be an environmental effect from wind farms plonked into the seas on the surrounds. 60 towers will have an effect.
I am not a fan of these large ships, but i rather see them on the ocean than the windmills.
There is no renewable future in windmills, those projects are only for short term money generation.
Those monsters are not renewable themselves, they use rare materials, leak a gas called Sulphur hexafluoride.
which is causing a major greenhouse effect. the list is so long....
@@andyrob3259 Oh sure, cite "environmental effect from wind farms," as if continued burning of fossil fuels for energy has no "environmental effect" itself? Kindly enlighten us why wind farms are worse than coal-fired powerplants over 100 years.
What?… no one wants to be trapped on a death trap on the sea… with no way to escape…
If this means no more absurd atrocities like city-sized "cruise ships," then the prognosis for the survival of the species has improved ... however slightly.
If this happened in UK it would get blamed on Brexit, as everything does.
Kinda because Brexit was the shittest political decision a people made in the last decades
@@seidenstickerj Yet every country in the whole world is in trouble it seems.
@@SonsofThunder1234 I guess many are having issues because of COVID, but some problems GB has are pretty specific to their split from the EU (their shortage of specific goods and problems to find workers in some fields).
@@seidenstickerj “some”
@@seidenstickerj I didn't actually vote in the EU referendum. I don't vote full stop as not one politician can be trusted. Nigel Farage dumped the British people in the same week as Brexit happened and Boris Johnson is really a remainer who wants to please the EU before British people. I do however accept the democratic decision of the British people. I wish every success and all the best to the EU. Take care.
Germany need tech companies and software company
What we need the most is China being forced out.
@@akteno2796 germany should develop it own tech company like google ,apple, Microsoft etc
@@mohamedbinrahidkhankhaledb4066 that's not how it works
I feel bad for the employees but why do the governments allow the Chinese to buy out their local companies?
ez money
Not Chinese. Malaysian, but based in Hong Kong.
That's an amazing shed
How does a company function with such sloppy finances that they can't even pay their workers their last pay checks?
I bet the bosses still got thieir Bonus in the milions
shipbuilding require lots of man hours and rework way beyond whats anticipated on the work order... also a union...
Becuase the executives made sure they have theirs.
The shipyards are owned by a financial company based in Hong Kong.
Maybe the executive board met at a tropical retreat to discuss just that. When the retreat was over... all the money was gone. Ooops. Sorry!
Welcome to neoliberalism Germany. You had it good since the rest of us had to export our jobs, and under the EU even you are being disembowelled
Bonjour de Russie. Merci beaucoup pour cette vidéo. Mon respect pour mes collegues en Allemand. Bon courage ✊
Germany should just build some warships, to defend against russia in there.
Shipyard for cruise ships are no longer needed. Just for leisure.
As the world looks ever eastward this is likely to be the story of all European industry. Why the EU is looking for “trade deals” with countries like China is a mystery - the trade is only going to be in one direction.
i suggest you actually do some research
@@epigoniisnow787 yes. Research how your comment will be received by complete buffoons.
Then throw a laugh in at them before they even read it.
Lol
1.5 billion euro cruise ship? how much does a ticket cost, minus operating budget?
Wismar! I know that place quite well. A shame about the shipyard, hopefully they recover.
They should have switched immediately in February 2020 to building smaller family yachts. Due to the pandemic, those are in high demand. Shipbuilders in the Netherlands can barely keep up with demand.
@David well they aren't going from boats to planes, or from small boats to big boats... Sure it would have hurt, but it would have been possible to switch from large to medium or small yachts...
Let's be clear, the pandemic didn't cause this. The response to the pandemic caused this. We've always balanced economics and loss of life. The only decision that has ever been made is where to draw the line.
We locked up healthy people never at risk and pushed people into poverty for an mainly elderly virus so a 90 year old can live another year. Meanwhile many of these 40 & 50 year olds will be lucky to find work for the rest of their 30-40 years of life. Weird way to fight a virus.
The other non-building workers along the German rivers will be happy.
How about building some military ships there? How is Germany supposed to lead Europe's defense when it refuses to have an army ?
ships are a navy, but Personally I would be very cautious about having a foreign country build my warships.
Why should the tax payers pay for failed busines
We can only socialize losses not profits.
Anyway, first time I have seen DW write "bankrupcy" without a 't'.
Actualy they do pay taxes when their profitable but now when they have no income they will declare bankrupcy
socialized profit = corporation tax or income tax
But nobody forces a company to have a profit, they could just spend any profit before the budgetary year ends ....
You mean bankruptcy?
Can no longer afford all the letters. 'T' was let go due to lack of funding for consonants.
Genting Hong Kong is owned by a Malaysian conglomerate. If it was a Chinese company, Indian and Western media would have a field day.
Maybe the government will finally stop pumping vast amounts of public funds into the likes of TUI
Bet the top CEOs aren't worried about their December wages.
It is because China captured a large chunk of Shipbuilding industry recently.
Well China and South Korea, but yes you are correct.
Can Merge with Chinese companies
@@madselmvig1457 South Korea is an industry leader since long time, I think.
I think a couple of years agp 40% & 20% of the commercial ships by tonnage were built by China & South Korea respectively. Probably more now.
The world would be a better place if no more of these monstrosities were built.
Don't blame Covid.
Blame government restrictions worldwide.
100% correct John factually, but incorrect politically. They followed up on their panic dumb lockdown move with a double-down, in pretty much every country, solely for political reasons.
When you produce ONLY 1 type , and you customer is your sister company that operates the Cruise Voyage... its like domino's.. falling.
I feel sorry for the workers and the change they face. But it's so good, that this trainwreck of an idiotic industry shrinks. Hope the workers and engineers find jobs, that make sense. Renewable energy sector probably needs a lot of qualified workers soon. Hoperfully.
EU have a lot of shipbuilding industry, including germany. After bankrupcy, the assets including the workforce, will be sell to another companies. Its that in any industry.
Now the banks will measure what they can sell, to recover as much as they can. complete teams with experience are are good asset to sell to another companies.
Nobody felt sorry for Ford workers losing their jobs when the EU used the British money paid in then gave Ford Europe, based in Coulogne,a grant to move the van plant to Turkey or the Dutch asset stripping ICI and the list is very long.
Exactly. Personally, I'd like to see a global ban on all boats of any kind. Followed by planes, cars, trucks, and trains. Better for the planet that way.
@Justin Lukas who wants to work for buttons?
@Justin Lukas Their chance of having to work at McDonald's is significantly lower than someone who's named Justin Lukas. Neither your name nor you mocking 2000 people potentially losing their job make you seem very bright.
One company dies and another is born. Nothing to worry about here
While DW was waiting for bankrupting of China but there own country firm got bankrupt 😂😂😂😂😂😂
These are China owned companies which went bankrupt. Re-watch the video.
Potentially I think there are Italian or French ship builders companies which could buy the shipyards, but there's no point today to keep capacity when there's not enough demand.
For employees it may be better to move to the Tesla factory, that's what people want now.
@@cw7886 lol where did it say they are Chinese owned
@@subsplease-gk7yo "Genting Hong Kong's MV Werften shipyard filed for insolvency on Monday". Hong Kong = China now.
@@cw7886 I just browsed it and it says it's a Hong Kong German company lol . that doesn't mean it's owned by China
@@cw7886 besides if it was am sure DW news would point that out
worked in rostock kavrner for a couple months , great guys , excellent work
Oh no! What will I do without more megayachts?
The funniest part was the intro... My Wi-Fi glitched when he said shitbuilders.... 🤣
A greener day for the Earth
You know this won't effect people's vacation habits, right?
@Random Gamerbro not Germany's specialty, but capitalism's and consumerism's specialty.
Just cause of this post I am going to be rolling coal all the way home in my 2500 HD DISEL
@@aysinkov get well soon
@@seidenstickerj thank you! Let the St Trump blessings be upon you and your family as well🇺🇸
Bankruptcy, ahem. Please correct it.
Couldn't they just build containerships now? As currently everyone is scrabbling for shipping?
@@piotrtrebisz6602 Maybe use Hydrogen steel from that new plant they are building
Two totally different kinds of boats. And these take years to build and a lot of money committed.
@@samsonsoturian6013 That's what the government is for.
@sooje nite Nice to see China and South Koreans having partnerships when it comes to hydrogen.
@@walli6388 Germany ain't bailing out a Chinese enterprise
This is a natural correction resulting from overbuilding.
It's hard to not be ambivalent about this. One has to sympathize with the workers. On the other hand, it's difficult to see how the world is worse off with fewer cruise ships and luxury yachts. Even before the pandemic cruise ships were floating, traveling virus incubators, crewed by people who were treated like animals.
You can always adresse and solve those issues. Dissapearence of an industry, along with all the other smaller companies that supply and, most importantly, the disappeared know how, is a much worse predicament.
Plenty of fruit picking jobs.
I dont thinking they wood ever adress issué I think it gett worse lyke masters untt Slavés
Nobody needs cruise ships. The whole industry needs to be nuked and become a relict of a bygone era
Meanwhile in Monaco the creame the la creame doesn't know hiw to burn the cash.
🤔
That's why Chinese don't make ships so durable
Evergrande, German style..... Who is next U.S. Airlines ???
The US, the German now see the cunning side of the CCP but at the same time madly in love with China. So how to solve the problem???
This figures really. Too much investment in only one kind of product. The world is overloaded with these sorts of ships anyways. I hope people think more locally.
I was thinking exactly the same. Too many eggs in the same basket.
It is not the product that is important it is the good paying manufacturing jobs that is needed. What are the able-bodied men going do without these types of jobs?
Also if Germany continues to antagonize China, China could ban the importation of German cars and the whole German auto industry would collapse throwing millions of people out of jobs.
@@rcbrascan Germany could respond by banning the import of Chinese plastics. Millions of Chinese would lose their jobs.
IT WAS horrific for the climate, air and ocean anyways, the heavy diesel propulsion and diesel electric generators for those gigantic ships.
The shipbuilding industry went down the toilet many years ago in the UK. Those areas have never really recovered.
German known for their great engineering with very high quality product. This is very sad
Would it matter if the people working there are all non-germans in a german company in germany?
@@phillip76 I heard germans no longer want this type of job. I used to work at a warehouse. over 90% are non-germans
@@phillip76 it's the German working culture, not the race that matters
Bs dinosaurs! Refused to innovate using better technology.
China and Korea are taking so much of the market now with much lower labor costs. Germany needs somebody better than the Green to fix realistic problems
if the shipbuilding company is Asian owned big deal its not a German company
Time to switch and start with spaceships 🤑
The ship is literally the global dream and it’s on life support
I feel bad for the employees, but I am glad that cruise-ship tourism has been marginalized, during the pandemic. They invested too many shares in a single market, and rightly so have gotten themselves in a financially unprofitable position. Like Norway, they should've expanded to other sectors of ship construction.
This. I really wish the best for all the people who do hard and good work there but this is one of the best news for the planet.
Sad they couldn't build more efficient container ships instead
"The Asian owners"
I get the lower demand for cruising ships but China is in a difficult financial crisis at this moment and this is one more fact about how bad this is. Started with their Mega-Real Estate companies sending a mega-wave of unpaid debt and lots of lay-offs in the private sector. We don't hear anything because the Chinese Government keeps everything quiet. But this is a good example of what it is happening all over the world with Chinese owned business.
what does china have to do with it bro? holding company is malay.
@@jupanu21 the holding company is in Malay for Tax purposes bro... The Owners are Chinese Raising capital in China to back the operation which happens to be neck deep in the middle of a massive financial crisis....not sure how you cant join the dots on that one ...bro
@@johntowers1213 The company owners are Malaysians.
Malaysia have Chinese people too.
@@johntowers1213 Nice macroeconomics lesson my friend.
this is EXCELLENT for the environment, though I do feel bad for the workers it may have left without a job.
I feel bad for these laborers but at the same time I'm happy the cruise liners downsize their operations. They contribute hugely to global and maritime polutions
"Hugely"
"Shipping (1.7%): emissions from the burning of petrol or diesel on boats. This includes both passenger and freight maritime trips."
@@IbangedYaMama not just fuel emissions but they also dump their waste into the water
Immigrate to Australia there is hundreds of ship building jobs available in South Australia building Naval ships and subs and growing to a possible 3000 jobs .
DW gives sometimes good news after all!
It would be much better if they would say how EU forced Polish shipyards to give back subsidies from government because EU considered this type of help illegal and in the same time French and German shipyards was geting similar subsidies but France and Germany forced UE to close an eye on that. Polish prime minister did nothing so Polish shipyards ended up bankrupt and he(Donald Tusk) with help of Germany ended up as President of UE...
@@Bialy_1 Dzieki za ten komentarz. Sam chcialem dodac podobny komentarz.
That long-forecast crash, economic depression, that never seemed to materialise . . ? . . it's beginning . . .
Aaahh..yeahhhh.. Finally.
They can no longer ignore it now.
It's no surprise to many, but to those who've ignored it, they're going to have to bite the dust very deeply.
I feel sad for the people of Wismar .. I spent quite a bit of time in that shipyard and Wismar back in 2017/18... Not only will it effect the people who worked at the shipyard but it will have knock on effects for the entire town. Sucks
Had the guys on top been very smart, they would have used empty berths and looked into how they could start churning out containers.
With the lack of these and being stuck in the US, that is a market that will keep going up...
The drawback of that though is that they will increase congestion, but should last them until they can tool back to ships again.
Thank the media for making a big deal out of a bad cold.
That's a bummer, especially for workers owed wages, but I have to admit, putting a damper on cruise ship is just plain good.
Maybe we can do that in couples having children as well - if you’re that worried about the environment. Or is that not ok because it’s a sacrifice you have to make?
Build some warships, the German Navy is in bad condition
The so-called "pandemic" didn't cause this. The ongoing government panic and overreaction to what essentially was a highly survivable virus did cause this.
unemployment of the seas 😂😂😂😂
I'm stealing that!
Squeezed it like a lonely lemon.
Looting: TheEconomic Underworld of Bankruptcyfor Profit
GEORGE A. AKERLOF University of California, Berkeley
PAUL M. ROMER
University of California, Berkeley
I am sure the EU will find money to support Germain workers.
... In Germany. The rest of the EU is pretty much bankrupt aswell.
Use the shipyard to rebuild the Bismark.
For what purpose?
So they can bankrupt harder? At least building U-boats make some sense.
Battleships are obsolete.
@@piotrtrebisz6602 That's one thing German arms industry is doing surprisingly well in the modern world.
@@minhducnguyen9276 yeah. The German navy should revert to the kriegsmarine's style of warfare.
Shame for the workers but good riddance that cruise ships and mega yacht manufacturers go down. Nobody needs these in the time of the global crisis.
Surprised no one is blaming the pandemic outright.
because pandemic is invented to mask world financial problems
@@vladislavgorshkov737 nah it's more a scapegoat.
Finally DW is not blaming BREXIT.
Instead of blaming the ''pandemic'' for these shipbuilder's bankruptcies, you could have reported on what lead to such bankruptcies.
What the ''pandemic'' did was exaserbate the failure of leadership that would have happened anyway.
@Macavity You plan by having reserves in company coffers to survive a rainy day and business connections with banks and associate partners. I didn't realize that was such a difficult concept to understand.
@@kawasakizrx1164 The first question I would ask is why is it 1.5BEU? That doesn't smack of corruption at every level.
@@kawasakizrx1164 More hiding of assets and collusion from tax laws. How long was that supposed to last..
@@hc3657 What are your qualifications to criticize my viewpoint? Let's hear it big boy.
So cruise ships are a good thing, right?
I am a Malaysian Chinese and Genting is a Malaysian company.
The long term story is intact…..build ships in Germany and use it for the Chinese market.
Billions of Chinese would love to cruise and gamble.
Unfortunately, Covid had killed the shipbuilder.
Not to worry…..once Covid wanes…..both the government and another company ( maybe NOT Genting ) will sort out the details and continue the business.
It is a classic win win if business continues.
RIP Bismarck 2.0
Continue the covid restrictions and watch how many other companies go under….these big companies could get assistance from the Government, but what about all of the restaurants?
@N Fels i am not from Europe, but i am super glad to hear that these smaller restaurants are taken care of, if they are in fact taken care of. No restrictions and no mandates will stop this virus. We just need to wait for more studies to come out, but like the Flu, nothing can stop an invisible virus that mutates.
How will the world cope with fewer cruise ships and mega yachts? This is a crisis !
Being a employee can understand pain of Employees working in this shipyard company .... Hopefully COVID-19🦠😷 will end soon... Hotel and tourism sector will thrive again.. Until then Gov should take care of them..
Hope isn't a viable economic strategy. Governments the world over destroyed their businesses and their part of the global supply chain. This is only the beginning of the results of the corruption, malfeasance, ineptitude and incompetence of ruling elites around the world.
It's going to get much worse, and it could last decades.
In the end, China will emerge as the global economic hegemon, enabling it to be come the sole remaining superpower. Learn Mandarin it's going to be necessary skill for those who remain in the aftermath of the coming economic collapse.
@@zoomzoom3950 🤣🤣congratulations Your social credit point has credited with 2 points ..back in China.
@@neoflying Just wait, reality has a few surprises for you. Enjoy your future.
If you're in Germany, Mecca is that way ↘ dhimmi.
@@zoomzoom3950 I am in your neighborhood.
@@neoflying in your dreams, dhimmi
Sturgeon wants to leave the UK ???? Scotland’s shipyards won’t get same amount of contracts from the EU as they do from the UK and this will be devastating for their skilled workers