Moonen Shipyards, based in Den Bosch in the Netherlands, is the latest manufacturer to experience financial problems. A recent statement from the Dutch company indicted that the shipyard has been forced to file for suspension of payment following the inability of its major shareholder, Altos Hornos de Mexico (AHMSA) to fund its operations.
The source of the funding problems is believed to be an approximate 40% reduction in steel prices in the last five months. AHMSA is one of the largest manufacturers of steel in Central America.
Two yachts currently under construction, the 37m GT Martinique and 30m Project Matica, will be placed on hold. With the filing for suspension of payment, Moonen Shipyards hopes to have adequate time to search for solutions for a financial restart.
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