German shipyard Nordseewerke has filed for bankruptcy. Based in the northern German city of Emden, the ailing yard has been close to shutting its doors for many years. Its most recent work has been providing segments for cruiseships being built by Meyer-Werft. This is actually the third time the yard has filed for bankruptcy this decade with the local Lower Saxony government forking out millions of euros to try and keep it solvent.
The yard was founded in 1903 and belonged to Thyssenkrupp until 2010, when it was taken over by Schaaf Industrie. After the first bankruptcy in 2012, DSD Steel took it over until its second bankruptcy in 2015. Today it has just 80 employees. The local government has decided to stop funding the site and it will now close.
Emden, once a thriving shipbuilding centre on the world stage, last delivered an actual ship nine years ago.