Pella Sietas in Hamburg: 13 million, and the shipyard is yours!

After almost 400 years of operation, the Sietas shipyard site in Hamburg is being auctioned off. Will money flow to Russia?

November 12, 2025, 20:28

Article summary

The end of an era: Germany’s oldest shipyard, Pella Sietas, is put up for auction. In Russian hands since 2014, but still bankrupt in 2021. Interested parties such as Airbus, Laeisz and the city of Hamburg were ready, but the Savings Bank mortgage caused complications. Who will ultimately win the contract and how the millions of dollars will be distributed are still of interest. A chapter full of political contradictions and entanglements.

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The final chapter in the long history of… Shipyard Pella Sietas begins on Thursday, November 13 at 10 am. Then the location of the oldest shipyard in Germany will be auctioned at the Hamburg-Harburg district court.

“I don’t know who will bid,” said Achim Ahrendt. The attorney is a bankruptcy administrator and has been handling shipyard closures for four years. He was not involved in the foreclosure auction, but he wanted to be present in meeting room A 3.03 and listen. Ahrendt wanted to know which companies were bidding on the roughly 14-acre property and how much they were willing to pay for it.