The Rheinwerft Walsum was part of the Gutehoffnungshutte Sterkrade shipyard and the successor to the Jacobi, Haniel & Huyssen shipyard, which had already existed in Ruhrort in 1830. Its official name was "Gutehoffnungshutte Sterkrade AG, Werk Sterkrade, Abt. Rheinwerft Walsum." Located in what is now the Duisburg district of Walsum, the shipbuilding company was considered the most efficient inland waterway shipyard in Germany.
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