KfW IPEX-Bank seized the last operating cruise ship of the Asian company GHK (Genting Hong Kong) a few hours from mooring at the Singapore Cruise Terminal.
The German bank filed a mortgage claim against the Dream Cruises flagship .On Monday, the owners had announced that World Dream would end its cruise operations when it returned to Singapore at the end of a scheduled voyage.
The company added that despite obtaining emergency funds that allowed the ship to complete 16 scheduled sailings after its liquidation filing in January, its liquidity continued to deteriorate.
World Dream had been operating short “nowhere” cruises from Singapore since late 2020.
It is the fourth in Genting ‘s fleet of 17 ocean liners known to have been seized. The three ships of the US brand Crystal Cruises were seized in early February 2022.
GHK ‘s joint interim liquidators have in recent weeks advocated the restructuring of Dream Cruises, considered the most valuable of the company’s cruise brands.