World’s biggest cruise ship is set to be sold for scrap before it has even set sail after owners went bankrupt during construction of the £1.2BILLION vessel
- Global Dream II was constructed by a German-Hong Kong shipbuilding firm
- It went bankrupt at the start of the year and has not been able to find a buyer
- The mammoth 1,122ft liner is now set to be sold for scrap to raise funds
The world’s biggest ever cruise ship which could carry 9,000 passengers and has cost £1.2billion to build is set to be scrapped before it has ever set sail.
Global Dream II was constructed by German-Hong Kong shipbuilding film MV Werften and was nearly finished when the company went bankrupt at the start of the year.
Since then, no buyer has been found and the enormous 20-deck vessel is now set to be sold for scrap.
The world’s biggest ever cruise ship which could carry 9,000 passengers and has cost £1.2billion to build is set to be scrapped before it has ever set sail
The 1,122ft Global Dream II includes a cinema and an outdoor waterpark, and would have the largest passenger capacity of any cruise ship in the world
Global Dream II was constructed by German-Hong Kong shipbuilding film MV Werften and was nearly finished when the company went bankrupt
Its sister line, Global Dream, is also on the market but is not due to be axed yet.
The 1,122ft Global Dream II includes a cinema and an outdoor waterpark, and would have the largest passenger capacity of any cruise ship in the world.
The biggest vessel in terms of size is the Oasis-class Wonder of the Seas owned and operated by Royal Caribbean International, measuring a staggering 1,188ft, with a passenger capacity of 6,988.
Despite the huge outlay on construction, the ship is still £200million short of its budget.
Global Dream and Global Dream II are being stored at a German shipyard in Wismar.
No buyer has been found and the enormous 20-deck vessel is now set to be sold for scrap
A towing unit navigates the huge central ship of the cruise liner in Wismar in 2019
The yard has been sold to Thyssenkrupp’s naval unit to build military vessels, meaning the two mammoth cruise ships have to be removed by the end of 2023.
While Global Dream II is structurally sound, equipment and passenger facilities need finishing.
There still remains a glimmer of hope that a buyer can be found, with Stena potentially hoping to buy it for the Chinese cruise market.
Industry experts TradeWinds said: ‘The Global Dream would have no problems finding a buyer in a strong cruise market.
CEO of shipbuilder MV Werften Carsten Haake stands in front of the almost finished cruise ship earlier this year
There still remains a glimmer of hope that a buyer can be found, with Stena potentially hoping to buy it for the Chinese cruise market
‘Faced with the tight deadline to get the Global Dream out of its building dock by the end of 2023, recycling the ship in Turkey is a last resort that Morgen hopes to avoid.’
Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016.
The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards that build cruise ships.
MV Werften currently has around 2,000 workers in Germany’s northern state of Mecklenburg-Vorpommern.
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