FSG wins 1st order under new owner

Germany’s shipbuilder Flensburger Schiffbaugesellschaft (FSG) has received its first order since the new start under the direction of Tennor Holding.

IVP Ship Invest, a company of Lars Windhorst, founder of Tennor Holding, has ordered a roll-on/roll-off (RoRo) ferry for completion in April 2022.

According to FSG, the newbuild will feature advanced energy-efficient technologies. With a length of 210 metres and a width of 26 metres, it will have a gross tonnage of 32,770 tons.

At the same time, the company has also placed an option for a second vessel.

As informed, the order has a total value of EUR 140 million (around $167 million).

“This order is an important building block for the future of the Flensburg shipyard,” Philipp Maracke, FSG CEO, pointed out.

“Construction is scheduled to start in December. With the implementation of the order, we are proving FSG’s ability to act. I know how much our 360 employees are looking forward to finally being able to develop and build … vessels again. Lars Windhorst has thus kept his promise to support the FSG in a difficult situation.”

To remind, FSG’s business assets and employees were recently taken over by several companies belonging to investment company Tennor Holding. The agreement enabled the financially-troubled shipbuilder to make a new start.

Earlier this year, FSG was forced to file for insolvency after it experienced financial woes related to the cancellation of several shipbuilding contracts.