ThyssenKrupp yards halt work on containerships

Germany's ThyssenKrupp said today that "the consequences of the global financial and economic crises have now reached ThyssenKrupp Marine Systems."

The shipbuilder has been informed by a client that the banks are not going to finance the construction of six 3,400 TEU class containerships.

ThyssenKrupp says work on Yard Nos. 420 and 421 at HDW-Gaarden in Kiel and Yard Nos. 560 and 561 at TKMS Blohm + Voss Nordseewerke will be stopped immediately.

"At present," says ThyssenKrupp, "the effect on the overall employment situation at the yards in Kiel and Emden is being discussed taking this situation and the other current orders and projects into consideration.