Genting's Global Dream, the unfinished world's biggest cruise ship, is up for sale

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Genting's Global Dream, the unfinished world's biggest cruise ship, is up for sale

By Katherine Scott
The unfinished cruise ship Global Dream in the building dock at MV Werft, Germany in January.

The unfinished cruise ship Global Dream in the building dock at MV Werft, Germany in January. Credit: Getty Images

The sale of Genting Hong Kong's unfinished mega-liner Global Dream has already lured plenty of potential buyers, including billionaire ex-Genting boss Lim Kook Thay.

The vessel is set to become the world's biggest cruise ship, by capacity, once completed, but currently sits unfinished in a German shipyard.

Troubled cruise company Genting HK – which also owns Dream Cruises, Crystal Cruises and Star Cruises – filed for bankruptcy on January 19, days after the Hong Kong government paused "cruises to nowhere" (short round-trip sailings that stop at no additional ports).

The 342-metre, 2350-room ship was set to feature the latest hardware and advanced technology, according to Genting, including voice and facial recognition, and self-guided mobile assistants.

The 342-metre, 2350-room ship was set to feature the latest hardware and advanced technology, according to Genting, including voice and facial recognition, and self-guided mobile assistants.

Liquidators are looking to finalise the sale before the German shipbuilder MV Werften runs out of money – around the start of Europe's summer.

Despite the urgency to sell, the court-appointed insolvency administrator Dr Christoph Morgen said the process will not be rushed, telling Bloomberg they're fielding "significant interest".

Dr Morgen has not confirmed a price tag for the ship's sale, but did reveal he's looking for "completion costs plus a little on top".

Global Dream reportedly cost $US1.8 billion ($2.4 billion) to build, and was heavily financed up to $US1.4 billion ($1.8 billion).

Global Dream reportedly cost $US1.8 billion ($2.4 billion) to build, and was heavily financed up to $US1.4 billion ($1.8 billion).Credit: Jens Buettner

Serious investors and interested parties have been visiting the shipyard with their delegations and requesting details about the build, a press spokesman for the insolvency administrator of MV Werften Group confirmed with Traveller.

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A letter written by Mr Lim to creditors in December put the ship at approximately 75 per cent complete, with the billionaire blaming the German government for declining to finance US$620 million ($835 million) to finish the build and keep the shipyard in business.

Global Dream reportedly cost $US1.8 billion ($2.4 billion) to build, and was heavily financed up to $US1.4 billion ($1.8 billion).

Global Dream was also set to feature Dream Cruises' lavish retreat, The Palace, available exclusively to suite guests. The Palace comprises a private all-inclusive clubhouse spanning four decks, with 152 suites and a private pool, sundeck and restaurant.

Global Dream was also set to feature Dream Cruises' lavish retreat, The Palace, available exclusively to suite guests. The Palace comprises a private all-inclusive clubhouse spanning four decks, with 152 suites and a private pool, sundeck and restaurant.

The record-breaking vessel was set to signal a new era of mega cruising, however, Genting suffered combined blows from the pandemic and Hong Kong's notoriously tough coronavirus restrictions.

Dr Morgen told Bloomberg Mr Lim was among those who expressed early interest in the sale, and believed he was looking to purchase the ship cheaply and take the build elsewhere.

The Malaysian billionaire resigned as Genting's chairman and CEO days after the company went into insolvency.

The ship is set to have a maximum capacity of 9000 passengers, making it the world's largest cruise ship by passenger numbers.

The ship is set to have a maximum capacity of 9000 passengers, making it the world's largest cruise ship by passenger numbers.

Global Dream had originally been slated to launch in early 2021, before the pandemic ravaged the cruise industry.

The 342-metre, 2350-room ship was set to feature the latest hardware and advanced technology, according to Genting, including voice and facial recognition, and self-guided mobile assistants.

The mega-vessel, with a maximum capacity of 9000 passengers, is described as having 2350 of the industry's "most expansive staterooms and luxurious suites," many of which feature two bathrooms.

The ship's design also includes the first theme park at sea, Dream Park at the Pier, with plans to build the cruising world's longest roller coaster at sea.

The floating amusement park features 350 metres of water slides, an inflatable obstacle course, trampoline park, surf simulator, and mini karts, among other attractions.

Global Dream was also set to feature Dream Cruises' lavish retreat, The Palace, available exclusively to suite guests. The Palace comprises a private all-inclusive clubhouse spanning four decks, with 152 suites and a private pool, sundeck and restaurant.

The current title-holder for the world's largest cruise ship, by gross tonnage, is Wonder of the Seas, which set sail on its first cruise on March 4 from Fort Lauderdale in Florida, US.

The 236,857 gross tonnes mega-liner, which accommodates up to 6988 guests and 2300 crew members, measures 362 metres long and 64 metres wide, and features everything from an ice skating rink to a network of 19 swimming pools.

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