The future of the Meyer Werft, a renowned shipbuilder known for its massive cruise ships, hangs in the balance as discussions about a potential state takeover continue.

The German federal government and the state of Lower Saxony are considering a nearly complete acquisition of the company, with a proposed 90% stake split equally between them.

This move would involve a financial commitment of 200 million euros each, alongside credit guarantees totaling 2.8 billion euros.

However, the German Ministry of Economic Affairs has yet to confirm any concrete plans, emphasizing that any decision will be made in coordination with federal authorities.

The shipyard, facing its most severe crisis in over 200 years, needs to secure substantial funding by mid-September to continue operations.

The financial strain stems from pre-pandemic contracts that did not account for the recent surge in energy and raw material costs.

Despite these challenges, Meyer Werft recently secured a significant contract to build four cruise ships for Disney Cruise Line, marking the largest order in its history.