German shipyard MV Werften secures €193 million financing

Crystal Endeavor (Photo: Crystal Cruises)

MV Werften has received a €193 million (US$228 million) loan from the German federal government and the state government of Mecklenburg-Vorpommern to complete the Crystal Cruises’ ship Crystal Endeavor for delivery and to finance the shipyard’s operations.

The financial support was provided as part of a state and federal government relief programme intended to assist German industries that have been impacted by the Covid-19 pandemic.

MV Werften said the funds from the loans will be used to sustain its shipyard operations through March 2021.

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