Genting orders cruise ship newbuild for Chinese market

Norwegian Getaway MG 7987 W708OCTOBER 7, 2013 — Genting Hong Kong Limited has entered into a contract with German shipbuilder Meyer Werft covering construction of a Euro 707.2 million cruise ship.

Cruise ship under construction at Meyer Werft

Ordered through wholly-owned subsidiary Chinese Dream Limited, the ship will be designed to cater for the unique demands of Asian clientele, in particular, Mainland China, Hong Kong and Taiwan. Delivery from the shipyard is expected to be in October 2016

Genting is the parent of Star Cruises, which pioneered the Asian cruise customer market, and owns 50 percent of Norwegian Cruise Line. Its board believes that the newbuild will, among other things, enable it to take advantage of growing demand for cruise business in the Asia Pacific market and the port infrastructure developments in Hong Kong and Asia which enable large cruise ships to dock.

With 1,682 passenger cabins (which translates into 3,364 passengers), the ship will be large but somewhat smaller than any of Norwegian Cruise Line's current newbuildings at Meyer Werft. It will have the Meyer Werft hull no. S.711.

The contract is subject to various conditions but is set to become effective January 14, 2014.

Want more? Subscribe now!

News from NASDAQ