Genting Hong Kong, parent company of Star Cruises, Dream Cruise and Crystal Cruises, said it has completed the acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany for the consideration of €230.6 million.

Ownership of the shipyards will free the company from both the delivery timing and pricing uncertainties associated with the cruise ship order book cycle, which continues at historic highs and allows Genting Hong Kong management to focus on the strategic planning, design and deployment of planned cruise ships among its three brands, the company said in a statement.

“We are pleased with the completion of the transaction as ownership of the yards provides certainty that we can build a fleet of high quality cruise ships at a pace dictated by our growth rather than constrained by supply as cruise ship order book continues to reach all-time highs, with orders placed as far out as 2026, ten years from now,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer, Genting Hong Kong, in a statement.

“We will begin by building four Crystal river ships scheduled for delivery in 2017 and Crystal Endeavor, the first purpose-built polar class expedition megayacht, for delivery in 2018. Our goal is to grow the yard output to two Mega cruise ships and one mid-size cruise ship or megayacht a year within a decade, not only for our own fleet but also for other cruise lines and yacht owners.”

The newly acquired yards, together with the previously purchased Lloyd Werft shipyard in Bremerhaven, will be managed as the Lloyd Werft Group, optimising the strengths of each yard for design, fabrication, outfitting and final assembly using the two huge covered dry docks in Wismar and Warnemunde and one ship launching lift in Stralsund.