After the shipyard experienced financial difficulties due to rising steel prices, the rapid fall in demand for container ships and miscalculation of costs, the shipyard's largest creditor, HSH Nordbank took over management in early March 2009, the first time the company was managed by someone outside of the founding family since 1635.

[7] After the global recession in 2009, container shipping demand fell sharply, and J.J. Sietas had to contend with numerous cancellations and a dwindling backlog, eventually turning away from container ship work and concentrating on specialty shipbuilding niches.

In December 2010, Sietas received an order for the first German-built offshore wind power transport and installation vessel, named Aeolus, which was completed in February 2014 for the Dutch Van Oord group.

Following the proceedings, the Sietas shipyard was sold to Pella, Norderwerft was sold to Bremer Lürssen, and Neuenfelder Maschinenfabrik (NMF), which makes cranes, was approved for acquisition by the Norwegian TTS Group ASA.

The first ship constructed entirely in the new shipyard was a small passenger ferry named Elbphilarmonie for Hadag Hamburg.