Meyer Turku Boasts Strong Growth

Finland-based shipbuilder Meyer Turku Oy reported combined turnover related to the production of the yard and its direct supplier companies of EUR 1.9 billion, a growth of 46 percent compared to the results from 2016.

The value of domestic supply orders of Meyer Turku increased by 64 percent to approximately EUR 638 million at the time in question. Correspondingly, the value of foreign supply orders increased by 150 percent to approximately EUR 295 million, according to the yard.

“Our order books extend for the moment to the year 2025, and the amounts reflect well the growth in our production. We can expect that the growth continues also in the following years,” Deputy Yard Director of Meyer Turku, Tapani Pulli, said.

The largest target country of the supply orders was Germany after Finland which made 72 percent of the value of the foreign supply orders.

“The strong growth of the proportion of Germany is explained by the fact that we have received FERU (Floating Engine Room Unit) for the cruise ships from the shipyard of Meyer in Rostock. Similarly, the large proportion of Kaarina is mainly explained by the strong growth of the cabin module factory of Piikkio Works,” explains Pulli.

As informed, in domestic supply orders, the focus in the euro-weighted orders was in Southwest Finland (48 %), and especially in Kaarina (27 %). In case of domestic supplier companies, there was an even division between Uusimaa and Southwest Finland, each with a 40 percent slice.

The activity of the shipyard employs directly about 4,100 persons and indirectly 4,000 employers counted in annual work units. In two years, the annual work units (AWU) increased by 28 percent in direct employment, and by 54 percent in indirect employment.

In December 2019, the shipyard delivered LNG-fueled Costa Smeralda to Costa Cruises, a Carnival brand. The yard is also building a sister vessel to Costa Smeralda, Costa Toscana, which is scheduled to be delivered in 2021.

The yard is also completing the finishing touches on Carnival’s Mardi Gras cruise ship, which was floated out at Meyer Turku shipyard on January 24.

The 180,000 GT newbuilding will be the largest ship in the Carnival fleet after its delivery set for August 2020.

The cruise ship will be North America’s first LNG-powered cruise vessel.