Photo: Courtesy of Fassmer

Meyer, Fassmer take over Neptun Ship Design to jointly offer solutions for sustainable shipping

German shipbuilder Meyer Group and its counterpart Fassmer have decided to jointly acquire compatriot ship design company Neptun Ship Design.

Neptun
Courtesy of Fassmer

The Rostock-based company will continue to operate independently and in its current structure.

Moreover, additional jobs are to be created to strengthen the engineering office, Meyer and Fassmer said. This will enable Neptun Ship Design to continue to serve existing customers, while at the same time implementing projects for the two German shipyard groups.

Meyer and Fassmer are thus strengthening their focus on the development and construction of highly complex special ships, on which the future market for new ships will concentrate.

Approval of the takeover by the Cartel Office is still pending.

“The production of technically complex special ships is very construction-intensive and requires a lot of experience. With Neptun Ship Design, we are gaining a partner who has already supported us with a great deal of competence in recent years, including, for example, the new construction of the LNG-fueled Atair,” Harald Fassmer, managing partner at Fassmer, said.

“Special shipbuilding will continue to dominate the newbuilding market in Germany and Europe. We therefore see a lot of potential in this cooperation.”

Further tailwind for sustainability strategy

With the latest acquisition, Meyer and Fassmer are further expanding their cooperation. Both shipyards will develop and build the new German research vessel Meteor IV by 2026.

“Neptun Ship Design will also play a significant role in this project, giving it a new long-term perspective. In addition, we plan to hire new engineers. This cooperation will support us in achieving our ambitious sustainability goals,” Malte Poelmann, Chief Technology Officer of Meyer Group, commented.

“All three companies have been committed to this for many years. Now we are jointly giving these activities further tailwind and can offer our solutions for sustainable shipping also outside our shipyard groups.”

“This combination of continuity, new impulses as well as concrete orders from Meyer and Fassmer and other German shipyards gives Neptum Ship Design positive prospects for the future,” Helge Sell, Managing Director of Neptun Ship Design, said.

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