Genting Hong Kong's unfinished "Global Dream" cruise ship attracts investors

Berlin - Billionaire Lim Kok Thay is among several investors interested in purchasing the "Global Dream" mega luxury liner that was under construction at Genting Hong Kong's now-insolvent shipbuilder, MV Werften in Germany. Several serious interested parties are in talks to buy the unfinished ship, said Mr Christoph Morgen, the German court-appointed provisional insolvency administrator for the shipbuilder

Berlin - Billionaire Lim Kok Thay is among several investors interested in purchasing the "Global Dream" mega luxury liner that was under construction at Genting Hong Kong's now-insolvent shipbuilder, MV Werften in Germany. Several serious interested parties are in talks to buy the unfinished ship, said Mr Christoph Morgen, the German court-appointed provisional insolvency administrator for the shipbuilder.

Mr Morgen is optimistic a deal could come together, but thinks it likely will not happen before next month because the case is complex, he said at a briefing at the shuttered shipyard in Wismar on Monday (Feb 14). MV Werften's provisional insolvency in early January proved to be a turning point for Genting Hong Kong, which became the world's biggest cruise operator to seek court assistance to safeguard its assets during the coronavirus pandemic when it filed a wind-up petition days later.

Genting reported a record loss of US$1.7 billion (S$2.29 billion) in May as the pandemic ravaged the cruising industry. Mr Lim, who resigned as Genting Hong Kong's chairman and chief executive last month, contacted Mr Morgen to express interest in purchasing the ship at the beginning of the provisional insolvency process, Mr Morgen said.

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(Credit: MarineTraffic)

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