Following difficulties with its German shipyards and the inability to get further funding to complete its ships, notably the 208,000gt Global Dream, Genting Hong Kong has filed for liquidation in a Bermuda court.
Genting currently owns three cruise brands: Dream Cruises, Star Cruises and Crystal Cruises. It also operates nine ocean cruise ships and three river vessels. The intention is to try to restructure the business as a going concern.
Billionaire Lim Kok Thay is among several investors interested in purchasing Global Dream, which was under construction at Genting’s now insolvent shipbuilder, MV Werften in Germany.
Several other interested parties are in talks to buy the unfinished ship, according to the German court-appointed provisional insolvency administrator for the shipbuilder.
MV Werften’s provisional insolvency in early January proved to be a turning point for Genting Hong Kong, which reported a record loss of $1.7 billion in May as the pandemic ravaged the cruising industry.