The current shipyard consolidation craze has spread to Germany with broadcaster NDR reporting the government is supportive of ThyssenKrupp Marine Systems, German Naval Yards Kiel and Lürssen merging into one group. Negotiations between the three parties have been ongoing since the start of the year, NDR revealed.
“Only a strong German player will be able to remain globally competitive and strengthen the German technology sector,” German Naval Yards Kiel CEO Jörg Herwig was quoted as saying in a recent statement.
Across the world big shipyard mergers are changing the market fundamentals of what used to be a very splintered industry.
China’s two main state-backed yard groups remerged late last year after operating separately since the start of the millennium. In South Korea, two of the nation’s largest yards, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, are in the process of merging while the two largest yards in neighbouring Japan have joined forces with Tokyo understood to be taking a look at taking the process a step further, integrating 15 shipbuilders into one group.