According to the cruise industry publication An Bord, bankruptcy administrators are unable to find a buyer for an incomplete mega-liner that was intended to be among the largest cruise ships in the world by capacity, which is why it is waiting to be demolished in a German shipyard.
According to An Bord, which cited insolvency administrator Christoph Morgen, the bottom hull of a liner known as Global Dream II, the second global class ship from the bankrupt MV Werften shipyard on Germany’s Baltic coast, will be sold for scrap. According to Morgen, who spoke at a news conference on Friday, machinery and much of the equipment that had already been delivered would be sold.
The sister ship of Morgen, Global Dream, which is prepared to float at the port in Wismar, northern Germany, is now the focus of Morgen, according to the publication. The Wismar shipyard of MV Werften was sold to the Kiel-based naval division of Thyssenkrupp AG, which intends to begin producing war boats there in 2024 amid escalating tensions following Russia’s invasion of Ukraine. According to Thyssenkrupp Marine Systems, the big dock should be ready by the end of 2023.
When the COVID-19 outbreak slashed demand for cruises, the two ships were initially ordered by Dream Cruises, an Asian firm that later folded along with its parent company, Genting Hong Kong.
The Board reported that there are no longer any plans to finish the Global Dream at the Wismar location. The magazine also cited tensions in the South China Sea and claimed that Stena AB of Sweden, which was the only interested party and wanted to develop a cruise product in Asia, withdrew when former Genting owner Lim Kok Thay announced a new cruise brand in Singapore at the same time that China upheld strict travel bans.
The publication claimed that ocean-going tugs could tow Global Dream anywhere on the planet. It was stated that in the event that a genuine buyer cannot be located in the upcoming weeks, Morgen will have to begin a bid procedure, allowing ship brokers with connections to maritime scrap yards to make their proposals. According to this week’s Ostsee-Zeitung story, German cruise ship manufacturer Meyer Werft could assist in completing Global Dream, after which the liner would be put into mothballs due to the current lack of buyers.