Turmoil at ThyssenKrupp’s Kiel yard

German newspaper Handlelsblatt is reporting that ThyssenKrupp’s shipyard in Kiel is in turmoil with significant losses prompting a management shuffle.

The yard is reportedly letting go of its chief financial officer Evelyn Müller amid massive delays on delivering ships on time that has created large losses this year.

ThyssenKrupp has been looking to sell the yard but has failed to garner any interest.

Worse still, the yard has become embroiled in a high level corruption scandal unfolding in Israel over a EUR2bn contract.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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