Why one of the world’s largest cruise ships is likely to be scrapped before maiden voyage

The almost finished cruise ship “Global Dream“ is pictured in the main assembly hall of the shipbuilder "MV Werften“

What was meant to be the world’s largest cruise ships is now likely to be sold for scrap – even before it could sail on its maiden voyage.

Global Dream II was being built by Dream Cruises, along with its sister vessel, Global Dream. The ship, which was being built to hold 9,000 passengers and over 2,000 crew, is currently sitting unfinished at a German shipyard, according to a report in The Guardian.

Shipbuilder MV Werften, however, filed for bankruptcy after facing losses during the pandemic. Now, administrators can’t find a buyer for what would have been the largest cruise ship in the world in terms of capacity.

In a press conference, Christoph Morgen, an insolvency administrator at Brinkmann & Partner, said the vessel's keel and lower hull will be sold for scrap. A report in German cruise industry magazine An Bord further said that Global Dream II’s engine and fixtures are also up for sale.

Christoph Morgen announced during the press conference that the cruise ship needed to be moved out of MV Werften’s Wismar shipyard by the end of the year as the yard had been sold to a manufacturer of naval vessels which plans to build military vessels there. The naval unit has set a deadline for early 2024 for the ship to be moved.

While Global Dream II is likely to be scrapped, there are still hopes of finding a buyer for Global Dream as it is almost 80 % complete. An Bord reported that if no serious offers are received for Global Dream, the vessel will probably be sold at an auction and bought for scrap.