Meyer Werft will survive the biggest crisis in its almost 230-year history. There can no longer be any doubt about this following the announcement by Federal Chancellor Olaf Scholz and Lower Saxony's Minister President Stephan Weil that the company from Emsland will receive state support. This is despite the fact that financing talks with banks still have to be finalised, the green light has to be given by the Bundestag and the matter has to be agreed with the EU Commission.

There are good reasons for the state to be involved, at least temporarily, in rescuing Germany's largest shipyard. The best is the order book. Following the recently agreed order from the Disney Group to build a further four cruise ships. This has a volume of more than 11 billion euros and extends until 2031. Shipping companies continue to value the quality of the ships „Made in Papenburg“ – regardless of the company's financial turbulence, which is partly related to the current ship financing system and those orders that were postponed during the coronavirus pandemic.

Demand for cruises has recovered rapidly from its pandemic-related slump. The cruise business model is intact, as new record highs in passenger numbers show. After the pandemic began, the positive outlook for the industry also led to government aid for companies such as the travel group Tui and Lufthansa. Experience from this phase of the economic stabilisation fund can now be put to good use in Emsland.

In addition to the preservation of thousands of jobs and several hundred million euros in taxes and social security contributions that flow into the public coffers every year, the support for Meyer Werft is also about safeguarding the maritime economy and maintaining cutting-edge technology in Germany. This also justifies a temporary commitment by the state. Meyer Werft now has a few years to stabilise itself and find an investor.