Flensburger Schiffbau-Gesellschaft (FSG), the German shipbuilder that has focused on ropax and freight ferries, has filed for insolvency, Norddeutsche Rundfunk (NDR) radio station reports on its website.

The objective after the filing is to restructure the company so that it could resume operations and Martin Hammer has been appointed new managing director.

Hammer has previously worked on restructuring shipyards in Stralsund and Wolgast, NDR said.