World's Ultra-Luxury Cruise Ship with 9,000 Capacity Falls into 'Gocheol' Condition

Parent Companies of Clients and Shipyards 'Genting Hong Kong' Both Bankrupt Due to COVID-19 Impact
Ultimately Fails to Find New Owner

The world's largest cruise ship, 'Global Dream II,' is about to be scrapped immediately at the shipyard.
[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kang Wooseok] The 'Global Dream II,' one of the world's largest cruise ships under construction, is set to be sold for scrap metal directly from the shipyard.

According to a Bloomberg report on the 19th (local time), citing the German cruise industry magazine 'An Bord,' the Global Dream II was being built at the MV Werften shipyard in Wismar on the Baltic coast of Germany, commissioned by the Hong Kong cruise company Dream Cruises.

However, both the ordering company and the shipyard's parent company, Genting Hong Kong, went bankrupt due to the impact of COVID-19, making the ship subject to sale. Unable to find a new owner, the hull is destined to be scrapped, while various machinery and equipment inside the hull will be sold separately.

The Global Dream II, a sister ship to the Global Dream, was planned to be the world's largest luxury cruise ship, each capable of carrying up to 9,000 passengers, featuring a theme park, a multiplex cinema, and eight sets of escalators.

The appearance of the Global Dream [Image source=Reuters Yonhap News]

Bloomberg reported that after Genting Hong Kong's bankruptcy, in May, the Swedish ferry operator Stena Line attempted to acquire the Global Dream but withdrew due to uncertainties in the Asian cruise market.

Subsequently, the German heavy industry company ThyssenKrupp Marine Systems, which acquired the shipyard, plans to manufacture warships there starting in 2024, effectively ending cruise ship construction.

However, the sister ship Global Dream, which is further along in construction than Global Dream II and only has the launching ceremony remaining, is expected to be sold through auction or other means in the future.

This content was produced with the assistance of AI translation services.