What’s the value of a 2016-built, 150,695 gt cruise ship from a top shipbuilder these days? We should get some answers after the conclusion of the Singapore Sheriff’s sale of the World Dream.
The Meyer Werft built ship was arrested by Germany’s KfW IPEX-Bank following the collapse of Genting Hong and was put up for auction pursuant to a court order.
The ship has 1,686 passenger cabins. According to the official notice of sale the ship has a capacity of 5,000 passengers, though Meyer Werft puts its capacity at 3,376 passengers.
Sealed bids are due by 3.00 p.m., Singapore time, on December 21, 2002, and cruise industry eyes are not only on how much the ship sells for but on who emerges the winner. One factor that may play a role in who bids is that the ship was designed for the Chinese market.
The World Dream is currently anchored at Changi General Purpose Anchorage in Singapore and extensive survey documentation on the sheriff’s website indicates that is in good condition.
Whatever price the ship sells for, the court says the net value of bunkers on board it is US$1,175,887, which is excluded from the sale and will have to be paid by the purchaser. The amount payable is not negotiable.