Dream Cruises suspends bookings for two more weeks
Dream Cruises has suspended bookings for an additional two weeks for all of its ships. Despite assurances that the cruise line would continue operations in Hong Kong, Singapore and Taiwan, the company filed for liquidation last week.
The company has court-appointed joint provisional liquidators who are reviewing the state of the company and its assets and how it could possibly continue to operate despite the bankruptcy of parent company Genting Hong Kong.
Dream Cruises is working on restructuring
What will happen to Dream Cruises and its three cruise ships is anyone’s guess at this time. The company is currently working on a restructuring to prevent the company’s assets from being sold and operations from being suspended. To accomplish this, Dream Cruises has further suspended all bookings for an additional two weeks.
A spokesperson for Genting Hong Kong said, “Genting Hong Kong would like to reiterate that the appointments of joint provisional liquidators of the company and Dream Cruises are not intended to liquidate the companies but to identify possible remediation plans and facilitate the restructuring of the group, including Dream Cruises. “
Reservations for Dream Cruises and sister company Star Cruises have been suspended since January 22. This was due to expire today, February 4, but the company won’t be taking any bookings until or around February 18 with the new extension.
Which ships are affected?
The new suspension of reservations will affect Dream Cruises’ three ships differently. Currently, the company’s newest vessel, World Dream, is operational in Singapore. The ship has continued to offer sea cruises from the city, but the current situation is proving troubling for customers who have booked a cruise.
A passenger told the Singapore newspaper The time of the straits: “They said the cruises would continue but it’s still quite troubling. I don’t know what to do now as I’m not sure I can get my money back if I cancel the trip.
In Hong Kong, the Genting Dream cruise ship has been inactive since mid-January. However, this pause in operations had little to do with the financial situation of the company, but rather with the COVID-19 regulations which prohibited all cruises in the city. Cruises are expected to resume later this month, but that is more dependent on the Hong Kong government.
The third ship in the Dream Cruises fleet set sail for the New Year on a 2-night cruise from Keelung in Taiwan. These cruises worked as expected. With bookings suspended, it remains to be seen whether these cruises will be able to continue operating.
One thing is certain, with Dream Cruises on the brink of liquidation, many companies will be watching developments closely. It is undeniable that the assets of dream Cruises are worth considering.
The company has deep roots in one of Asia’s largest growth markets, and construction of its newest vessel, the 208,000 gross ton Global Dream, was nearing completion before Genting filed for liquidation with plans for a second Global-class ship.