It has been a rough 27 months for the beleaguered Sietas Shipyard, since the Hamburg-based builder was forced to file a petition for insolvency in November 2011. Attempts to claw its way out of the financial doldrums by concentrating on ferry construction, and then on lifeboat manufacture, sparked a certain amount of false hope, yet the yard's optimistic announcements did little to revive its fortunes. Since that fateful month, with administrator Berthold Brinkmann trying to strike a deal for some future direction for Sietas, there have been plenty of rumours regarding the yard's fate. Dutch builder VEKA was, at one time, mooted as a potential buyer, as was, more recently, Shanghai's ZPMC.
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