Sponsored By

After 2020 loss, Meyer Turku moves toward 'more positive path'

Following two years of losses, Meyer Turku said it is now slowly moving toward a more positive path.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

June 1, 2021

1 Min Read
Credit: Seatrade Cruise News

The shipbulder posted a €49.2m loss on €1.04bn in sales in 2020.

'Last year has been in several aspects an extraordinarily difficult year, mainly impacted by corona resulting in high extra costs due to the restrictions and corona measures,' Meyer Turku CEO Tim Meyer said. 'Adapting our order book and consequently our capacity has affected our operation in 2020 severely. We do, however, see now promising signs of recovery both in the cruise ship market and in our Meyer Turku Group financial figures. We are already working on the topics beyond the crisis such as the development of sustainable ship designs.'

Order book extensions, no cancellations

2020 saw the delivery of Carnival Cruise Line's Mardi Gras in December. Earlier in the summer, Meyer Turku negotiated order book extensions with its customers, with orders now stretching to 2026. No orders were canceled.

Meyer Turku also went through a restructuring to trim the workforce and reduced its planned investments.

Tim Meyer thanked his team for quickly reacting to the changed business situation and mitigatng the effects of the pandemic on operations with 'fast and decisive actions.' 2021, he added, is a year of preparing for a new future. However, the full impact of actions taken will take some time to be reflected in the financial numbers, he said.

Read more about:

Meyer Turku

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

The latest cruise news, analysis and more straight to your inbox
Get the free newsletter read by industry experts

You May Also Like