Huge Passenger Cruise Ship Goes Up for Auction – Cruise Hive

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World Dream , a cruise ship that was only completed in 2017, will be going up for auction on December 21. The cruise ship was ordered by Genting Hong Kong in 2015 for Star Cruises before being turned over to the company’s new cruise line, Dream Cruises.  

Interested parties can place a sealed bid to the Singapore Sheriff’s office with a $50, 000 downpayment. The particular auction resulted from a court order which followed the parent company Genting Hong Kong’s bankruptcy. The cruise liner was placed under arrest by a German bank earlier this year and has since been sitting at anchor outside Singapore.  

Globe Dream is to be Sold in December

The particular former assets of Genting Cruises are being sold off at the record pace. A few weeks ago, Disney Cruise Line bought the unfinished 9000-maximum capacity Global Desire . This week, the particular Sherrif’s office in Singapore announced that the Planet Dream would be sold by sealed-bid auction on December 21.  

Interested parties will need to place a bid by sending the $50, 500 downpayment, together with their offer, prior to 3 PM on Dec 21. Although she has not sailed for the majority of 2022, the vessel is in excellent condition, having been anchored off the coast associated with Singapore.  

The value of the particular World Fantasy is unknown. Several factors play into this: Genting Hong Kong built the vessel with the Chinese market in mind. If an US-based or European-based cruise line purchased the ship, it might need significant modifications to make it suitable for Western tastes.

World Dream, Genting-Owned Cruise Ship
Photo Credit: Hitman H / Shutterstock

Also important, Global Dream , the largest luxury cruise ship simply by passenger numbers in the particular world, sat unsold for months. A fate that could befall Entire world Dream .  

Even though Disney Luxury cruise Line bought Global Wish for a fraction of the construction price, Disney paid a reported $41 million versus a 1. 8 billion construction price; it will need to make considerable investments to prepare this for guests.   Whether many cruise trip lines are willing to invest within the World Dream in financially uncertain times remains to be seen.  

Globe Dream was built at the Meyer Werft in Papenburg, Germany. The 150, 695 gross-ton cruise ship has space for some 5, 1000 guests in full occupancy and 3, 376 from double guests. Initially purchased for Genting Hong Kong’s cruise brand Star Cruises, the vessel was transferred to sister-brand Dream Cruise trips.

Dream Cruises Was Once a Cruise Giant in the Making

Dream Cruises has been first unveiled in 2015 as the reaction from parent company Genting Hong Kong towards the burgeoning sail market within China. The company already operated Star Cruise trips and had also purchased the ultra-luxury cruise ship Crystal Cruises earlier that year.

Dream Cruises Open Deck
Photo Credit: ARTYOORAN or Shutterstock

The particular sister deliver to Planet Dream , Genting Desire , entered service in 2016, and World Fantasy followed within 2017. In 2019, a good older Celebrity Cruises ship, the ex- Superstar Virgo Explorer Dream , joined the particular fleet. Within 2018 plus 2019, building started upon two of the largest vacation cruise ships ever built , the particular 208, 000 gross-tons Worldwide Dream I and II .  

While everything seemed in order to be going well for Wish Cruises and Genting Hong Kong, behind the scenes, the particular financial situation painted a very different picture . That came to light during the pandemic’s start when Genting Hong Kong submitted a filing to the Hk Stock Exchange suspending all payments in order to creditors, while the organization tried to come to grips with a few, 8 billion dollars of debt.

What followed had been a luxury cruise company that will unraveled at a record speed. By the end associated with January 2022, Genting Hong Kong had filed for insolvency. Amazingly Cruises was sold in order to Abercrombie & Kent , Genting Dream will be under charter to Resorts World Cruises, and Global Dream We was offered to The disney produtcions Cruise Line. Global Dream II is usually likely to be marketed as scrap metal.  

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