German defence group Rheinmetall has confirmed that it is in discussions with MSC Mediterranean Shipping Company over a deal to acquire Romania’s bankrupt Mangalia shipyard.
Romanian government officials are reportedly working on a structure that would transfer majority ownership of the yard to Rheinmetall and MSC, while the state would keep a minority stake. The shipyard entered bankruptcy last month after a prolonged insolvency process and failed restructuring attempts.
The Mangalia facility is one of the largest shipyards in Europe. It has three drydocks and was established in 1976. It previously operated through multiple international partnerships, including Daewoo Shipbuilding & Marine Engineering and later Damen, which exited the joint venture in 2024. The yard was then pushed into insolvency, with assets valued at around €87 million.
Rheinmetall said the planned acquisition goes beyond an existing four-ship defence contract linked to Romania. The company stated that the project aims to restart full shipyard operations and turn Mangalia into a long-term production hub for both military and commercial vessels.
“The revitalisation of the shipyard in Mangalia is of strategic importance,” Rheinmetall said. The company added that it expects the project to create significant industrial activity and support regional employment.
MSC is expected to take a commercial role in the partnership. According to previous proposals, the company had planned to begin with repair work before expanding into newbuild projects, including container ships, cruise ships, Ro-Pax ferries, and tugboats.
MSC had already signalled interest in the yard in 2025, when it told Romanian authorities it wanted to diversify its global ship repair and construction base. The company also proposed pre-financing repair work to help restart operations and rehire skilled workers.
The Romanian government is expected to contribute land and existing infrastructure to the new partnership structure. Officials have described the project as a strategic opportunity to revive domestic shipbuilding capacity and strengthen the country’s defence industry.
Rheinmetall’s involvement follows its recent expansion into naval shipbuilding. The company has already taken over naval assets from the Lürssen Group and is expanding its defence-focused maritime portfolio. It is also linked to a four-ship Romanian programme, including offshore patrol vessels.
If approved, the Mangalia deal would combine one of Europe’s largest container shipping groups with a major defence manufacturer in a rare hybrid industrial project covering both civilian and military shipbuilding.
