Genting Hong Kong’s Asian-based cruise ship brand Dream Cruises will suspend operations on Wednesday due to mounting financial pressure.
The company issued a statement this week confirming that the operations of World Dream, based in Singapore, would cease upon completion of its current sailing on 2 March 2022. Dream Cruises had been the only one of Genting Hong Kong’s brands to continue sailings after the group entered provisional liquidation in January, followed by the subsidiary itself in early February.
“However, despite the continued efforts to source and introduce external funding, the group’s liquidity continues to deteriorate given the absence of sustainable operational income under current challenging circumstance and in the face of mounting creditor pressure which poses an immediate threat to the operation of the vessel,” Dream Cruises said via a statement.
“In these circumstances, it has become impossible for the Company to make further financial commitments necessary to enable the World Dream to continue to operate.”
Dream Cruises said it is uncertain whether it can meet potential refund claims from customers who have already purchased tickets for sailings after 2 March and is currently assessing the impact of the cessation of operations.
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