The High Court of Singapore has finally concluded a protracted auction process for the last cruise ship owned by failed Asian cruise operator Genting Hong Kong.
The Sheriff of Singapore’s office listed the 150,700-gt World Dream (built 2017) as sold on Friday, two months after a sealed tender auction for the ship was held.
Even though the World Dream has moved on to a new owner, its future remains a mystery. Maritime databases such as S&P Global’s International Ships Register and VesselsValue have yet to reflect any changes to its ownership.
DNV, under whom the vessel is classed, shows a change in technical manager in its database.
V.Ships Leisure managed the ship during its time in lay-up after being arrested by KfW IPEX-Bank in March 2022, but on Wednesday DNV listed Columbia Cruise Services as manager and World Dream Company Inc as the registered owner.
World Dream Ltd was the registered owner of the ship when it operated under Genting’s Dream Cruises subsidiary.
The sale of the World Dream completes the liquidation process of Genting Hong Kong’s vessel assets. The ships have been scattered far and wide with some moving on to new owners, and others ending their careers in the hands of ship recyclers.
Two, both from the Dream fleet — the 150,700-gt Genting Dream (built 2016), which Genting sold to a consortium of Chinese banks for $700m in a sale and lease back deal back in January 2020; and the 75,300-gt Explorer Dream (built 1999) — are operated by Resorts World Cruises, a company set up in April 2022 by Genting majority shareholder Lim Kok Thay.
