Crystal Cruises parent Genting buys Lloyd Werft shipyard

Genting Hong Kong, the parent of ultra-luxury line Crystal Cruises, has acquired a majority stake in shipyard Lloyd Werft. 

The company is to pay €17.5 million for 70 per cent of the shipbuilding business and a 50 per cent ownership of the shipyard’s land in Bremerhaven, Germany.

“Lloyd Werft has already built and lengthened six ships owned by an affiliate of Genting Hong Kong and has the expertise to build a series of world class cruise ships for the company, which will include the Exclusive Class vessels for Crystal Cruises,” Genting Hong Kong chairman and CEO Tan Sri Lim Kok Thay said. “Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard’s technical expertise as well as their well-established and long track record in the shipbuilding industry.”

The news comes after Genting acquired Crystal from its former owner Nippon Yusen Kabushiki Kaisha back in March. It subsequently announced huge expansion plans.

Crystal, which currently has two ships – Crystal Symphony and Crystal Serenity – will add three ocean ships, launch a river division, the Crystal Espirit yacht and its own Dreamliner airplane over the next three years.

Crystal Espirit, a 62-guest luxury yacht will launch in December 2015, complete with a two-person submarine, four 10-passenger zodiacs and its own 32-foot yacht capable of holding 12-passengers. Crystal River Cruises will launch in spring 2017, the same year as Crystal Luxury Air – the company’s own all business-class aircraft.

In 2018 the company will launch the first of three Crystal Exclusive Class vessels. The vessels will all be polar ice class with a capacity of 1,000 passengers. There will also be 48 Crystal Residences on each new ship – offering permanent accommodation.