Genting Hong Kong sells Crystal Endeavor cruise ship for US$275m

Genting Hong Kong filed for liquidation in January.
Genting Hong Kong filed for liquidation in January.

The Royal Caribbean Group has acquired the ultra-luxury cruise ship, which will be renamed the Silver Endeavor.

Hong Kong.- Genting Hong Kong has sold its Crystal Endeavor cruise ship to the Royal Caribbean Group for US$275m. The Crystal Endeavor, which was delivered to Genting Cruises in July 2021, will be renamed Silver Endeavor when it joins Royal Caribbean’s Silversea Cruises fleet in August.

Royal Caribbean financed the purchase of the vessel through a 15-year unsecured loan agreement with German export agency Euler Hermes. 

Jason Liberty, president and CEO of Royal Caribbean Group said: “This ship will be the fourth vessel to join Silversea’s fleet since 2020, which demonstrates our commitment to growth.”

In January, Genting Hong Kong filed for liquidation after a German court rejected a request to release US$88m for its German shipyard unit MV Werften. Due to liquidity constraints, the company delayed the publication of its 2021 financial results. Its shares remain suspended until further notice following the trading suspension on January 18.

In June, the company also decided to sell the Star Cruises Jetty in Langkawi, Kedah, as part of its restructuring plan after the Covid-19 pandemic.

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Genting Hong Kong