Meyer Werft receives record order for four cruise ships from Disney Cruise Lines

Meyer Werft, a shipbuilding company that has faced severe financial challenges earlier this year, has received an order for four cruise ships from Disney Cruise Lines, a subsidiary of The Walt Disney Company established in 1995. According to Meyer Werft, this order marks the largest in the company’s history, with the four vessels scheduled for delivery between 2027 and 2031. Disney’s latest orders total eight cruise ships from Meyer.

With these new contracts, Meyer Werft’s order book now exceeds €11 billion. As reported by North German broadcasting company NDR, Meyer Werft will require approximately €2.7 billion in funding by 2027 to continue operations. The company is also expecting support from the German federal government, as the recent order enhances the prospects of securing state assistance, according to NDR.

In early July, Meyer Group announced plans to consolidate Meyer Werft with their shipyard in Rostock under a parent company, Meyer-Neptun, to strengthen the financial situation of both yards.

Meanwhile, Meyer Turku is anticipating a new order, expecting to sign a contract for building a new ship by the end of summer, according to their financial report released earlier this year. However, details about the upcoming order have not been made public yet. In early June, Meyer Turku delivered the seventh ship, Mein Schiff, to TUI Cruises, with TUI’s CEO Sebastian Ebel stating the company plans to continue purchasing ships from Turku.

Currently, Meyer Turku’s order book stretches until 2026. A new order would be crucial as both the Mein Schiff 7 and the world’s largest cruise ship, Icon of the Seas, delivered last November, were built at a loss. Meyer Turku projects that 2024 will be profitable and expects future ships to generate profits.