Market speculation over the possible sale of Blohm & Voss, as was mooted in the Superyacht Business Newsletter of August 19, 2009, is intensifying. Reports over recent days from sources such as Reuters, Bloomberg and Die Welt suggest that ThyssenKrupp faces losses much higher than anticipated, making the sale of its unprofitable commercial ship and yacht building activities very likely.
Thyssen Marine Systems (TMS) includes Blohm & Voss as a leading superyacht builder currently with an orderbook that includes building the world’s largest yacht, the 165m (541ft) or so Eclipse for Roman Abramovich. Additionally a 94m (308ft) yacht and two refits are in hand at B&V and six yachts of an average 73m (240ft) in length are on order in Kiel. One of the reports suggests that the cancellation of six yacht orders has occurred which, if correct, could be the Kiel ones.
As usual ThyssenKrupp is making no comment on rumours. Our earlier story highlighted the fact that the Abu Dhabi MAR Group was possibly considering buying B&V, having recently acquired Nobiskrug, which was also formerly owned by TMS.
Projections on the losses for the year to end September 2009 go as high as