The_King Posted March 1, 2022 Share Posted March 1, 2022 SINGAPORE: Cruise operator Dream Cruises said that its World Dream vessel will cease operations after its current sailing returns to shore on Wednesday (Mar 2). In a statement on Tuesday, Genting Hong Kong, which owns Dream Cruises, said it "has become impossible" for it to make the further financial commitments necessary to enable the World Dream to continue to operate. Dream Cruises 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. The suspension was extended on Feb 4. Customers who have paid deposits for sailings after Wednesday may submit their claims for refunds, said Genting Hong Kong. However, it added that it is still "assessing the impact of the cessation of operation of the World Dream, in particular its ability to meet potential refund claims". "Despite the continued efforts to source and introduce external funding, the group’s liquidity continues to deteriorate given the absence of sustainable operational income under current challenging circumstance and in the face of mounting creditor pressure which poses an immediate threat to the operation of the vessel," it said. Those who wish to submit their claims should attach their booking confirmation and payment records and email them to joint provisional liquidators [email protected] for assessment. Dream Cruises' World Dream is one of two vessels allowed to offer cruises to nowhere in Singapore. The other is Royal Caribbean's Quantum of the Seas. The joint provisional liquidators have been identifying potential remediation plans and facilitating the restructuring of the group including Dream Cruises since their appointment on Jan 20, said the cruise operator. It added that it had obtained "certain emergency funding" which had enabled the World Dream to complete 16 scheduled cruises after the appointment of the joint provisional liquidators. Genting Hong Kong, which is part of Malaysia's Genting Group, reported a net loss of US$238 million in the first half of 2021, as operations continued to be affected by the COVID-19 pandemic. It reported a net loss of US$1.7 billion in 2020. The company 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. The cruise operator warned earlier in January that it faced potential cross-default amounting to US$2.78 billion, following the insolvency of its German shipbuilding subsidiary. Its chairman and CEO Lim Kok Thay, along with deputy CEO Au Fook Yew, resigned in January. Source: CNA/ic 1 1 1 Link to comment Share on other sites More sharing options...
Homelander Posted March 1, 2022 Share Posted March 1, 2022 Only left royal carribbean now 2 Link to comment Share on other sites More sharing options...
socrates469bc Posted March 1, 2022 Share Posted March 1, 2022 Link to comment Share on other sites More sharing options...
socrates469bc Posted March 1, 2022 Share Posted March 1, 2022 (edited) 53 minutes ago, Homelander said: Only left royal carribbean now royal carribean will also pull out soon in another yr or so since margin and volume r worse than pre-wuhan. asian culture dont like to take time-consuming cruises unlike amdks, thats why genting dream cruises have not taken off despite being in the market for 30 yrs liao. the only way for cruise lines to make money is offer gambling trips on the narrow strip of international waters between johor/singapore/batam. https://news.worldcasinodirectory.com/singapore-gambling-cruise-ships-making-comeback-4985 whahahahahahhahaha Edited March 1, 2022 by socrates469bc 2 Link to comment Share on other sites More sharing options...
The_King Posted March 1, 2022 Author Share Posted March 1, 2022 47 minutes ago, socrates469bc said: royal carribean will also pull out soon in another yr or so since margin and volume r worse than pre-wuhan. asian culture dont like to take time-consuming cruises unlike amdks, thats why genting dream cruises have not taken off despite being in the market for 30 yrs liao. the only way for cruise lines to make money is offer gambling trips on the narrow strip of international waters between johor/singapore/batam. https://news.worldcasinodirectory.com/singapore-gambling-cruise-ships-making-comeback-4985 whahahahahahhahaha cruises old can go. cause nothing physicals to do 2 Link to comment Share on other sites More sharing options...
socrates469bc Posted March 1, 2022 Share Posted March 1, 2022 50 minutes ago, The_King said: cruises old can go. cause nothing physicals to do limpeh old still can do alot of physical things during cruises. wahahahahahhahahahha 1 Link to comment Share on other sites More sharing options...
The_King Posted March 1, 2022 Author Share Posted March 1, 2022 6 minutes ago, socrates469bc said: limpeh old still can do alot of physical things during cruises. wahahahahahhahahahha this one no need go on a boat. join the high mile club in hot pool is the best 1 Link to comment Share on other sites More sharing options...
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