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Disney Acquires Unfinished Cruise Ship Global Dream

(Image: Disney Cruise Line)

Eric Haun

Disney Cruise Line has announced plans to acquire and complete the unfinished cruise ship previously known as Global Dream.

The 208,000-gross-ton ship, which was originally being built by the now bankrupt MV Werften shipyard in Wismar, Germany for insolvent parent company Genting Hong Kong's Dream Cruises, has been sitting incomplete as the shipyard's liquidator sought a buyer.

The Walt Disney Company's cruise subsidiary on Thursday confirmed plans to acquire the vessel and have it completed at the former MV Werften yard under the management of the Meyer Group, the German company that built Disney Dream, Disney Fantasy and Disney Wish for the U.S.-based cruise operator.

"The ship's previous owner filed for bankruptcy before completing the vessel, enabling Disney Cruise Line to secure it at a favorable price and within the capital expenditure guidance The Walt Disney Company provided on its recent earnings call," Disney Cruise Line said in a statement.

Dr. Christoph Morgen, appointed by the court to oversee MV Werften's bankruptcy proceedings after it filed for bankruptcy in January 2022, said the Meyer Group will lease the Wismar shipyard to complete the build, generating jobs for local workers and suppliers.

"Several hundred current and previous employees of MV Werften, colleagues from Meyer Group and numerous suppliers will complete the impressive shipbuilding project in Wismar over the next two years so that it can set sail for Disney Cruise Line as a sustainable family cruise vessel in the future," Morgen said.

Disney said it will rename the Global Dream and change certain features aboard the vessel. Among most notable changes, the ship will be converted to be among the first in the cruise industry capable of running on low emission green methanol fuel.

The newbuild is scheduled to enter service in 2025 and will be based outside the United States, Disney said. The cruise line expects the passenger capacity to be approximately 6,000, down from the 9,000 originally envisioned by Dream Cruises, with around 2,300 crew members.

Nov 17, 2022

 

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