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New bookings for World Dream cruise to remain suspended until further notice

New bookings for World Dream cruise to remain suspended until further notice

Dream Cruises' World Dream. (Photo: Dream Cruises)

SINGAPORE: New bookings for the World Dream cruise operating in Singapore will remain suspended until further notice, cruise operator Dream Cruises said on Friday (Feb 4).

Dream Cruises' World Dream is one of two vessels running cruises to nowhere in Singapore. The other is Royal Caribbean's Quantum of the Seas.

The company had said earlier on Jan 23 that it would suspend bookings for an initial period of two weeks after its beleaguered parent company, Genting Hong Kong, applied to be wound up, TODAY reported.

Genting Hong Kong owns the Star Cruises and Dream Cruises lines which serve the Asia Pacific region, as well as the luxury Crystal Cruises line based in Miami. 

In its media statement on Friday, Dream Cruises said that Genting Hong Kong will continue to operate the Dream Cruises fleet in the region.

"However, new bookings for World Dream will remain suspended from Feb 4 onwards until further notice, as the joint provisional liquidators continue to explore the state of business and to identify, examine and explore the options available," it added.

Dream Cruises filed to wind up the company with the Bermuda courts on Jan 27, and also submitted an application to appoint joint provisional liquidators for the company, according to a Hong Kong stock exchange statement on Jan 28.

It said in its media statement on Friday that one of the primary purposes for applying to appoint joint provisional liquidators was to continue the scheduled itineraries for Dream Cruises.

"(Genting Hong Kong) would like to reiterate that the appointments of joint provisional liquidators over the company and Dream Cruises are not to liquidate the companies but to identify potential remediation plans and to facilitate the restructuring of the group including Dream Cruises," it said.

Genting Hong Kong will also continue to monitor the domestic situations and operational opportunities for Genting Dream and Explorer Dream in their respective markets, it added.

Genting Hong Kong, which is part of Malaysia's Genting Group, reported in May a net loss of US$1.7 billion in 2020 amid travel restrictions put in place due to the COVID-19 pandemic. 

It warned earlier in January that it faced potential cross-default amounting to US$2.78 billion, following the insolvency of its German shipbuilding subsidiary.

Source: CNA/aj


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