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Liquidator for Genting Hong Kong Shipyards Says One Bidder for Genting Dream Has Dropped Out!

The bidder that dropped out was reportedly Swedish Ferry Operator Stena.

During an interview with the German TV Network NDR, Christopher Morgan, the liquidator in charge of the insolvent German MV shipyards, said that one of the bidders for the almost completed Global Dream has dropped out.

At this time, he said there were two bidders interested in the ship, and one of the bidders was Lim Kok Thay, the former CEO of the company that had controlled the now-bankrupt shipyards.

The Global Dream was 80% completed at the shipyard when Genting Hong Kong was declared insolvent. The insolvency occurred when Lin Kok Thay refused to invest any money to save the shipyards despite the offer of financial help from German authorities. That insolvency created a domino effect, and all three cruise lines under the Genting banner went bankrupt and are all now being liquidated. The three cruise ships sailing under the Star Cruises brand were all sent to the scrapyard, and two Ocean-going ships under the Crystal brand are up for auction.

Morgen said whoever does buy the unfinished Global Dream intends to move it to another shipyard to have it completed.

When completed, the Global Dream will be the largest cruise ship at sea, carrying up to 9,000 guests. Global Dream had initially been slated to launch in early 2021; however, the pandemic caused the cruise industry to come to a halt and suffer significant financial damage.

Genting described the mega-vessel as having 2350 of the industry's "most expansive staterooms and luxurious suites," many of which feature two bathrooms.


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