Meyer Launches Dedicated Offshore Business Separate from Shipyard

Germany’s Meyer Group, best known as the builder of cruise ships, is moving to strengthen its position in the offshore converter business as it sees growing opportunities in energy transition. The company had taken steps through its Neptun Shipyard in Rostock and will now consolidate its efforts into a separate company.

Neptun Offshore will be launched as a wholly-owned subsidiary of Meyer Group. It will also hold the 50 percent stake in the previously launched joint venture Neptun Smulders Offshore Renewables. It will continue to be based in Rostock and will draw on the resources of the shipyard while providing dedicated management and focus for the offshore business.

The group highlights that converter construction involves different technical and regulatory requirements than shipbuilding. These differences relate, for example, to the required materials, lead times, testing systems, and IT systems, as well as the financing structure.

“By founding a separate company, we will achieve clear structures and lines of responsibility and avoid inefficient processes and higher costs. This will also allow Neptun Werft to continue focusing fully on its core business—the construction of river cruise ships and floating mechanical engineering modules—in the future,” said André Walter, CEO of Meyer Werft.

This story was originally published by The Maritime Executive. Read the full story at The Maritime Executive →