MSC joins Rheinmetall in €138m Romanian shipyard takeover

Mediterranean Shipping Co (MSC) has been confirmed as a joint buyer of Romania’s bankrupt Mangalia shipyard, teaming up with German defence giant Rheinmetall in a €138m deal to revive one of Europe’s largest shipbuilding facilities.

As Splash reported last week, Rheinmetall secured the Black Sea yard at auction, but today’s announcement confirms that the Aponte-controlled shipping giant will participate in the acquisition, with the two companies jointly funding the purchase.

The transaction is expected to close within weeks. Neither company has disclosed its respective ownership stake.

The partners plan to transform Mangalia into a dual-use shipbuilding hub, combining commercial vessel construction with naval projects. The facility will be divided into dedicated production and security zones.

Rheinmetall already has a €920m Romanian naval programme involving four vessels, comprising two 96 m offshore patrol vessels and two 43 m diver support ships.

“Following the acquisition, we plan to expand and upgrade the shipyard comprehensively,” said Tim Wagner, chief executive of Rheinmetall Naval Systems.

MSC’s involvement has been developing for some time. Splash first reported the Swiss group’s interest in Mangalia in June 2025, with cruise ships, ropax vessels and tugboats among the potential construction opportunities.

Rheinmetall subsequently confirmed in May this year that the two companies were exploring a joint takeover.

The latest deal comes as MSC is also pursuing a potential investment in Germany’s Meyer Werft, the cruise shipbuilder in which federal and regional governments hold an 80% stake.

Mangalia, which boasts three drydocks, entered insolvency in June 2024 following a protracted dispute between Dutch shipbuilder Damen and the Romanian government over management rights.

The acquisition offers the yard a route back to large-scale construction while potentially giving MSC a significant new foothold in European shipbuilding.

Follow Us