Genting Hong Kong Ltd., the bankrupt parent company that shuttered Crystal Cruises earlier this month after two ships were seized for unpaid fuel bills, is now looking to sell what is being billed as the world’s largest cruise ship by capacity.
The Global Dream, still under construction in a German shipyard, is slated to be a 9,500-passenger mega-liner when it is finished.
IF it is finished.
Because of the bankruptcy, Genting’s shipbuilding arm, MV Werften, has been placed into insolvency by a German court. It has been assigned to an administrator, Christoph Morgen, who is now responsible for selling the Global Dream, according to Bloomberg News.
Morgen told the news outlet that he’s not in a rush to sell and has plenty of potential suitors, but nonetheless, there is a deadline involved – shipbuilder MV Werften will likely run out of cash by the summer.
“We will have a speedy process, but there’s no need for a fire sale,” Morgen told Bloomberg. “Our target is to get the highest price.”
Morgen said there is a “significant number” of companies looking to purchase not only the Global Dream but some who would also like to buy its cruise line operator, Dream Cruises.
The Global Dream reportedly cost almost $2 billion but is said to need in the vicinity of a half-billion to be completed.
“There are potential buyers looking at an entry package to enter the Asian cruise ship market by buying Dream cruises as a business plus vessels currently operated by Dream Cruises,” Morgen said.
For now, the world’s largest cruise ship will debut next month when Royal Caribbean’s Wonder of the Seas makes its maiden voyage.