SSW ends shipbuilding

Bankrupt SSW Schichau Seebeck Shipyard in Bremerhaven will no longer build new vessels. A creditors? meeting on Monday agreed to a plan presented by a group of investors to convert the yard into a maritime business park. The shipyard filed for bankruptcy in January 2009 with massive debts. The owners had been at odds about the future of the shipyard. While Dieter Petram and Karl Ehlerding suggested encouraging firms primarily from the wind power industry to use the shipyard grounds, the third co-owner, Karl-Heinz Jahncke, wanted SSW to continue with newbuildings. Under the new arrangement, Jahncke will leave SSW.