cruise ships being scrapped before the build is finished--will this be a trend?

[ontheweb]

From record-setter to rubbish: World’s biggest cruise ship to be scrapped without sailing a single voyage (msn.com)

 

Or was it just because it was by Genting and they declared bankruptcy?

[ColeThornton]

9,000 passenger capacity?   That sound like a nightmare all the way around.

[cruisemom42]

If it's one thing that I think the cruise lines do NOT need right now, it's additional passenger capacity.....

[Joebucks]

I wouldn't doubt if we see 9000 passenger ships in the future. It wasn't all that long ago that 6000 seemed unreasonable. But being nearly the same size as Oasis? That would be rough 

[chengkp75]

4 hours ago, ontheweb said:

From record-setter to rubbish: World’s biggest cruise ship to be scrapped without sailing a single voyage (msn.com)

 

Or was it just because it was by Genting and they declared bankruptcy?

What the article doesn't make clear is that they are referring to Global Dream 2, which is only in the steel cutting process, and the equipment (engines, etc) that were already purchased for this.  The Global Dream is 80% completed, and the liquidators are still looking for a buyer.  Not only did Genting HK (not parent Genting) go bankrupt, but GHK owned MV Werften (the shipyard) as well.  So, the shipyard has been sold, and the new owners are allowing the liquidators to use the construction hall for the Global Dream until the end of 2023, and a layberth at the yard until the end of 2024.  So, the liquidators have over 2 years to find a buyer for the Dream, but the Dream 2 will be sold for scrap.  The new owner of the yard does not expect to start production until 2024, and a financing package has been arranged to allow a buyer for the Dream to complete the ship in the MV Werften yard.

 

So, no, this will not be a trend, it is a one off due to the parent company of both the shipowner and the shipyard going bankrupt, but either MSN or "the Points Guy" don't have their facts right.

[ontheweb]

1 hour ago, chengkp75 said:

What the article doesn't make clear is that they are referring to Global Dream 2, which is only in the steel cutting process, and the equipment (engines, etc) that were already purchased for this.  The Global Dream is 80% completed, and the liquidators are still looking for a buyer.  Not only did Genting HK (not parent Genting) go bankrupt, but GHK owned MV Werften (the shipyard) as well.  So, the shipyard has been sold, and the new owners are allowing the liquidators to use the construction hall for the Global Dream until the end of 2023, and a layberth at the yard until the end of 2024.  So, the liquidators have over 2 years to find a buyer for the Dream, but the Dream 2 will be sold for scrap.  The new owner of the yard does not expect to start production until 2024, and a financing package has been arranged to allow a buyer for the Dream to complete the ship in the MV Werften yard.

 

So, no, this will not be a trend, it is a one off due to the parent company of both the shipowner and the shipyard going bankrupt, but either MSN or "the Points Guy" don't have their facts right.

AS always, thanks for sharing your knowledge.

 

I believe you can blame it on the Points Guy as I think MSN just reprints things they find interesting, or to be of interest to those viewing their site.

[Toofarfromthesea]

Are there any stats available about the current number of cruising passengers compared to pre-pandemic 2019?

[rkacruiser]

4 hours ago, chengkp75 said:

So, no, this will not be a trend, it is a one off due to the parent company of both the shipowner and the shipyard going bankrupt, but either MSN or "the Points Guy" don't have their facts right.

 

Thanks for the information.  I was of the wrong impression as to what was being scrapped as well.  What may have contributed to the confusion was a picture of what appeared to be a nearly completed ship in the online story that I read.  Don't recall, accurately, what the source of what I read was.  Maybe from Seatrade or Cruise Industry News?  

[chengkp75]

13 minutes ago, rkacruiser said:

 

Thanks for the information.  I was of the wrong impression as to what was being scrapped as well.  What may have contributed to the confusion was a picture of what appeared to be a nearly completed ship in the online story that I read.  Don't recall, accurately, what the source of what I read was.  Maybe from Seatrade or Cruise Industry News?  

I saw an article from two days ago in Maritime Executive.  Yeah, they show a picture of a nearly finished ship, which is "sexier" than a bunch of hull blocks sitting around a shipyard.