Genting Hong Kong to Acquire Lloyd Werft Shipyards

Crystal Cruises’ parent company Genting Hong Kong, a leading global cruise and resort company, has entered into an agreement to acquire Lloyd Werft, a shipyard in Bremerhaven, Germany, in a deal that will see the company invest 17.5 million (EURO) for 70% of the new shipbuilding business and a 50% ownership of the shipyard’s land. Under the terms of the agreement, Genting Hong Kong will complete the acquisition of Lloyd Werft subject to the fulfilment of certain final purchase conditions.

 “Lloyd Werft has built and lengthened six of the ships owned by an affiliate of the company 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, the world’s most awarded luxury cruise line,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer, Genting Hong Kong. “Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard’s technical expertise and their well-established and long track record in the shipbuilding industry.”

On July 19, Crystal Cruises announced plans for the most significant brand expansion in the history of luxury travel and hospitality with the introduction of Crystal Yacht Cruises (December 2015), Crystal River Cruises (2017), Crystal Exclusive Class cruise ships (late 2018) and Crystal Luxury Air (2017).

“With such great anticipation for Crystal River Cruises and Crystal Exclusive Class ocean vessels, we are incredibly excited about Genting’s groundbreaking investment in the Lloyd Werft shipyard that will contribute mightily to Crystal Cruises’ expansion,” said Edie Rodriguez, Crystal’s president and CEO.

Genting Hong Kong signed a letter of intent earlier this year with Lloyd Werft to build Crystal’s Exclusive Class which are polar class cruise ships. In addition to the luxurious traveler’s suites, the ships will effectively launch Crystal Residences, with 48 private homes and featuring all the signature amenities of a luxury ship or yacht. Lloyd Werft will also build the collection of luxury river yachts, boasting large guest suites, spacious public spaces, and innovative itineraries and activities in destinations throughout France, Germany, Switzerland, Holland, Belgium, Austria, Slovakia, Hungary, Croatia, Serbia, Romania and Bulgaria.