German Court to Rule in Row Over Funding for Shipbuilder MV Werften
A German court will rule next week in a case brought by Genting Group against a German regional government after a row over funding for cruise shipbuilder MV Werften, which filed for insolvency on Monday.Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016. The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards that build cruise ships.Genting's subsidiary Genting Hong Kong said on Tuesday…
Germany Awards $2.4 Bln Naval Shipbuilding Contract
The German defence procurement agency said on Tuesday it has awarded a contract valued at nearly 2 billion euros ($2.4 billion) to a consortium of shipbuilders led by Lurrsen Werft for five new corvettes to be delivered from 2022 to 2025. The agency said the contract would give the German navy additional proven warships to keep up with its increased responsibilities within the NATO alliance. The consortium also includes Thyssenkrupp and German Naval Yards, which had undertaken legal action to be added to the group. In July Germany's competition regulator, the federal cartel office, said it would not block moves by Lurssen and Thyssenkrupp to expand the consortium after finding no evidence of antitrust concerns.
Hamburg Elbe Dredging Plan Needs Improvement
Plans to dredge the river Elbe in Hamburg must be improved before a stop order on the work is lifted, a German court ruled on Thursday, raising the risk of more delay to work to deepen Germany's biggest port and open it up to new container ships. Green pressure groups had lodged a legal complaint against the original plan, arguing the environmental impact of dumping mud and sand on fragile coastal wetlands would be devastating. Following the ruling from Germany's top administrative court that authorities must do more to protect the river's maritime environment, shares in Hamburg port terminal operator HHLA were down 11.5 percent at 1215 GMT. The Hamburg city government said it was pleased the court had in principle accepted that dredging can take place.
Somali Pirate Sentenced to 12 Years by German Court
A German court sentenced a Somali asylum-seeker to 12 years in jail on Thursday, for his involvement in the pirate hijacking of a tanker in the Indian Ocean in 2010. The judge in the Osnabrueck court in northern Germany said the man was guilty of kidnapping and severe extortion. The ship was released for a ransom of $5.5 million after eight months in the hands of Somali pirates. "After four months of extensive evidence gathering, the court is convinced that the 44-year-old Somalian was a leading member of the pirates who kidnapped a chemical tanker," said the court in a statement. The man was not named. German courts do not usually provide the full names of defendants.
