Cruise Saudi acquires former Genting HK cruise ship
The World Dream has been renamed Manara and will undergo refurbishment.
Singapore.- Cruise Saudi has announced that it has acquired the World Dream cruise ship, formerly owned by Genting Hong Kong’s Dream Cruises. The ship was sold in Singapore after being seized by KfW IPEX-Bank in March 2022 due to the financial collapse of its former owner.
The vessel, renamed Manara, will undergo refurbishment with plans to be revealed in due course, said Lars Clasen, CEO of Cruise Saudi. The ship will be registered in Majuro, Marshall Islands, as its new homeport.
Built in 2017 by Meyer Werft, the 150,700 gross ton World Dream was initially designed for Norwegian Cruise Line before Genting Hong Kong ordered two nearly identical ships named Genting Dream and World Dream, which were used in Asia in 2016 and 2017 to launch the company’s new brand Dream Cruises.
The World Dream was among the assets listed for sale in Singapore’s High Court on February 24. It was the last Genting Hong Kong ship to sail, ceasing operations on March 2, 2022. It failed to receive a winning bid at an auction in December.
Cruise Saudi’s acquisition of the World Dream is part of the company’s strategy to promote and grow the cruise and tourism industry in Saudi Arabia, as the country aims to have five cruise ports in operation and to exceed one million cruise passengers by 2028.
The sale of the World Dream marks the end of the disposal of assets from Genting Hong Kong’s former cruise operations. The ships from sister cruise line Star Cruises were sold for scrap, with the exception of one smaller ship, which will be operated by a charity. The ocean cruise ships and Crystal Cruises brand have been sold to new investors, while a German start-up acquired the river cruise ships.
Last November, Walt Disney Co acquired Genting’s incomplete Global Dream. According to The Maritime Executive, Disney planned for construction to be completed in the former MV Werften shipyard.