Norwegian Cruise Aids Insolvent Lloyd Werft | Business| Economy and finance news from a German perspective | DW | 10.02.2004
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Norwegian Cruise Aids Insolvent Lloyd Werft

The Norwegian shipping company Norwegian Cruise Line (NCL) said on Tuesday that it would help the insolvent German shipyard Lloyd Werft in Bremerhaven by aiding its financial recovery. On Monday, Lloyd Werft -- where NCL's "Pride of America" sprung a leak -- had filed for bankruptcy protection saying that NCL owed it more than €37.5 million for work done on the luxury liner. The ship, which was being refurbished, was swamped up to the third deck in stormy weather at the Bremerhaven docks last month. NCL was counting on the ship to launch its critical inter-island Hawaii service this summer. The ship is expected to be re-floated this week, but its delivery will be several months late. Meanwhile, Lloyd Werft said that for the next three months the salaries of the 530 workers at the shipyard would be paid by the German Labor Agency.