The cruise ship had been acquired by Lindblad Expeditions and will launch in the Galapagos on August 19.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- A cruise ship that belonged to\u00a0Genting Hong Kong\u2019s<\/strong>\u00a0Crystal Cruises<\/strong>\u00a0fleet will be launched next week. The ship was acquired by Lindblad Expeditions last year when Genting Hong Kong began to sell assets after\u00a0filling for liquidation<\/a>.<\/p>\n\n\n\n According to the Maritime Executive, the ship was built alongside a sister ship more than 30 years ago.\u00a0Crystal Cruises acquired it in 2015 and converted it into a high-end luxury cruising yacht, renamed Crystal Esprit. It continued running until 2020 when it was suspended due to engine problems.\u00a0<\/p>\n\n\n\n Genting Hong Kong had to agree to complete engine repairs before handing the vessel over to Lindblad, which reportedly paid $13m for the vessel. The ship has been revamped and renamed the National Geographic Islander II.<\/p>\n\n\n\n In July, the company sold its\u00a0Crystal Endeavor cruise ship<\/a>\u00a0to the Royal Caribbean Group for US$275m. In June, it sold\u00a0the Star Cruises Jetty<\/a>\u00a0in Langkawi, Kedah, as part of its restructuring plan after the Covid-19 pandemic.<\/p>\n\n\n\n Various Genting Hong Kong non-core subsidiaries have entered into insolvency proceedings in the relevant jurisdictions, including Australia, Hong Kong, Malaysia, Singapore and the United States.\u00a0The company said the sale of assets, including vessels, was in varying stages of completion.<\/p>\n\n\n\n The company said the liquidators have been working with the group\u2019s creditors\u00a0and other relevant stakeholders to attract potential investors who may be interested in acquiring the group\u2019s ships and other assets to secure returns for the group\u2019s creditors.<\/p>\n","protected":false},"excerpt":{"rendered":" The cruise ship had been acquired by Lindblad Expeditions and will launch in the Galapagos on August 19.<\/p>\n","protected":false},"author":176,"featured_media":26655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Hong Kong, currently undergoing liquidation, has continued its asset divestment strategy with the sale of a Crystal Cruises vessel to Lindblad Expeditions for $13 million and another to Royal Caribbean Group for $275 million. These transactions are integral to the group's multi-jurisdictional restructuring plan, aiming to maximize returns for creditors amidst ongoing insolvency proceedings.","focusai_entities":"Lindblad Expeditions, Genting Hong Kong, Crystal Cruises, Maritime Executive, Royal Caribbean Group, Star Cruises","focusai_location":"Galapagos, Hong Kong, Langkawi, Kedah, Australia, Malaysia, Singapore, United States","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Asset Valuation","query":"What are the implications of the reported asset sale prices for Genting Hong Kong's overall liquidation value and creditor recovery prospects?"},{"label":"Restructuring Strategy","query":"How does the multi-jurisdictional insolvency process impact the efficiency and timeline of Genting Hong Kong's asset divestment strategy?"}],"footnotes":""},"categories":[157,16333],"tags":[23716],"class_list":["post-32518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32518"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32518\/revisions"}],"predecessor-version":[{"id":32522,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32518\/revisions\/32522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26655"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}