The Turku shipyard, owned by the German Meyer family, is a major player in the Finnish maritime industry. With thousands of jobs and significant export income, the shipyard is a crucial employer in Finland. However, the shipyard is facing financial difficulties, with its sister company, Meyer Werft, needing €2.7 billion in funding by 2027. Negotiations for funding are ongoing with the state of Lower Saxony and the federal government in Germany.
The potential bankruptcy of Meyer Werft could have repercussions on the Turku shipyard and its subcontractors in Finland. The shipyard industry has been hit hard by the collapse of the cruise industry due to the pandemic and drastic cost inflation in shipbuilding, leading to a crisis.
Despite these challenges, there is optimism that the Turku shipyard will continue to receive new orders and remain operational. The completion of projects like the Icon of the Seas cruise ship has been successful, leading to potential future purchases. The shipyard’s current orders provide work for the next two years, and efforts are being made to secure its future amidst the industry’s challenges.
The Finnish government is closely monitoring the situation at the Turku shipyard as it is a major player in