MV WERFTEN receives loan commitment from the Economic Stabilisation Fund
During the past few months, MV WERFTEN, together with representatives of the federal and regional government as well as its partner, have been engaging in discussions concerning the possibilities for obtaining interim aid from the Economic Stabilisation Fund (ESF) of the federal government and negotiating the general conditions, according to the company's release. This Thursday a positive decision was taken by the ESF.
Proceeding from the ultimate decision by Hermes concerning federal guarantees for the post-delivery financing of the Endeavor as well as the granting of ESF funds, the restructuring measures will then be implemented on the basis of the negotiated transfer collective agreement.
In the wake of a challenging 14-month period of the pandemic and the Corona-related standstill in cruise shipping and in shipbuilding, there are indications that things are returning to normal and that it will thus be possible to return to the customary level of efficiency in production. The progress currently being made in terms of vaccinations in Europe and in Germany is enabling supply chains to revert to the just-in-time mode, in addition, the travel industry is showing good signs of recovery. The number of bookings received by cruise ship companies is on the rise and these reservations already demonstrate a demand for safe cruises.
