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This Ship Is Becoming a German Nightmare
The Global Dream, built for Stardream by Genting Hong Kong's MV Werften shipyard, was set to be the world's highest passenger liner when completed. However, the COVID-19 pandemic has hit the international tourism industry hard, with demand for cruise travel hitting rock bottom. Without sufficient financial guarantees, the German government, which had agreed to support the shipyard, also pulled out, causing the shipyard to file for bankruptcy.
Designed for the booming Asian cruise market, the global Dream is 342m in length, 208,000 tonnes in displacement, 2,350 rooms and suites, with a standard capacity of 4,700 passengers. During the peak season, the ship will have a staff of 2,500 and can accommodate up to 9,000 passengers. At 1.5 billion euros, 75 percent of the project has been completed, with 600 million euros still needed.
The Global Dream was originally ordered at a time when the cruise business was booming, but demand for cruise travel was hit hard by the pandemic.
Christoph Morgen, the shipyard's legal asset manager, says one of his most important goals now isto find a buyer for the Globedream. But Morgen says that even if investors were interested, it would not be easy to get a good price for such a large ship, given the ongoing pandemic.
Without a buyer, the shipyard could be converted into an offshore wind or hydrogen production base to cater to Germany's energy transition, Said Christoph Morgen.
The bankruptcy of the shipyard is expected to lead to the loss of 2,000 jobs, which will have a huge impact on the city of Wismar. Many of the city's families and generations depend on MV Werften shipyard.
Designed for the booming Asian cruise market, the global Dream is 342m in length, 208,000 tonnes in displacement, 2,350 rooms and suites, with a standard capacity of 4,700 passengers. During the peak season, the ship will have a staff of 2,500 and can accommodate up to 9,000 passengers. At 1.5 billion euros, 75 percent of the project has been completed, with 600 million euros still needed.
The Global Dream was originally ordered at a time when the cruise business was booming, but demand for cruise travel was hit hard by the pandemic.
Christoph Morgen, the shipyard's legal asset manager, says one of his most important goals now isto find a buyer for the Globedream. But Morgen says that even if investors were interested, it would not be easy to get a good price for such a large ship, given the ongoing pandemic.
Without a buyer, the shipyard could be converted into an offshore wind or hydrogen production base to cater to Germany's energy transition, Said Christoph Morgen.
The bankruptcy of the shipyard is expected to lead to the loss of 2,000 jobs, which will have a huge impact on the city of Wismar. Many of the city's families and generations depend on MV Werften shipyard.
