At this year’s D23 Expo, Disney Experiences Chairman Josh D’Amaro shocked the crowd of 13,000 of Disney’s biggest fans by announcing that Disney Cruise Line would build four brand-new cruise ships. The new ships, which were presented on a massive screen behind D’Amaro, would be delivered between 2027 and 2031 as Disney Cruise Line secures a significant investment from the parks and experiences segment of The Walt Disney Company. The expansion would bring Disney’s total number of cruise ships up to 13 vessels.
In an August 12th press release, Bernard Meyer of Meyer Werft said, “We are very happy to continue our partnership with Disney Cruise Line and build four additional outstanding ships over the next seven years. We now have eight ships for Disney Cruise Line in our order book which reflects the trust in our capabilities and hard work of our team”.
“Our Disney cruise ships are the true ambassadors for our brands and beloved by families the world over,” said Thomas Mazloum, president, New Experiences Portfolio and Disney Signature Experiences. “As we embark on this ambitious and unprecedented expansion for Disney Cruise Line, we are delighted to work with Meyer Werft once again.”
Just weeks after the contract was signed for four new Disney Cruise Line ships, Meyer Werft is sinking financially and the German government is stepping in to save the company. According to a new report from Bloomberg, the German government will acquire a 40% stake in Meyer Werft, and the state of Lower Saxony will acquire another 40%. The federal government and Lower Saxony will guarantee 80% of a debt capital line of more than $2.8 billion. The deal still needs to be voted on by the government and European Commission.
Difficulties for the shipyard began during COVID-19 when demand dipped and the cost of materials and labor increased. Obviously, the ship maker has a lot of orders on the books, but with payments for new ships largely delivered upon completion of a ship, capital was needed quickly.
Meyer Werft and Disney Cruise Line have a longstanding relationship, that started with Disney Dream and Disney Fantasy, which were delivered in 2010 and 2012. In 2022, the first Wish-class cruise ship Disney Wish was handed over to Disney Cruise Line. The two sister ships Disney Treasure and Disney Destiny are currently under construction in Papenburg and will be delivered in 2024 and 2025.
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