Disney acquires Genting Hong Kong ship under construction

The vessel, formerly known as the Global Dream, will be completed in the former MV Werften shipyard.

Hong Kong.- Genting Hong Kong continues to dispose of its assets and has now sold its incomplete cruise ship Global Dream. The ship was being built by the company’s German shipyard unit MV Werften when the company filed for liquidation in January.

The incomplete vessel has been acquired by Walt Disney Co. According to The Maritime Executive, Disney plans for construction to be completed in the former MV Werften shipyard. It will redesign and repaint the 208,000 gross ton ship, removing Dream Cruises’ hull art and replacing it with traditional black and gold Disney livery featuring the Mickey Mouse logo. 

Once completed the ship will be among the largest in the world. Disney reportedly plans to reduce passenger capacity to about 6,000 passengers from an announced maximum of 9,000. The casino area will be repurposed to make it a family-oriented cruise ship. 

The purchase price for the cruise ship remains confidential. In Germany, however, there is speculation that the price will be around €1bn.

In July, Genting Hong Kong also sold its Crystal Endeavor cruise ship to the Royal Caribbean Group for US$275m. Currently, the group does not operate any cruises, and it stated that it will not be able to resume such operations in the future. 

The company also revealed that some of the group’s secured creditors “have taken enforcement actions over substantially all of the vessel assets of the group.”

In September, Resorts World Cruises Pte Ltd, the company launched by Genting Hong Kong founder Lim Kok Thay in April, purchased Star Market Holdings, the owner of Genting Hong Kong’s cruise trademarks.