Revealed: Global Dream Hull Art

Global Dream

Genting Cruise Lines as unveiled Global Dream’s hull artwork, “A Dream Through Time and Space.”

Shanghai native and London-based Illustrator Shan Jiang were commissioned to create the latest chapter of the Dream Cruises hull art romance for the new 5,000-guest 208,000-ton ship.

Having worked with a variety of notable companies and publications, Shan’s work is strongly influenced by his home city of Shanghai; its skyscrapers and bungalows, contemporary concepts and traditional superstitions and flourishing subcultures, the company said.

The hull art continues the epic journey of the mermaid and the astronaut as they seek to satisfy their boundless curiosity and explore an infinite universe driven by the desire for the extraordinary, the company said, in a statement.

“Embodying the independent and fearless spirit of a new generation of traveller, the two worlds of the mermaid and astronaut blend together, resulting in a new way to explore the seven seas– one that combines age-old maritime tradition with space-age technology,” Dream Cruises announced, in a statement.

Guests at ITB Asia Genting Cruise Lines booth

The dream also confirmed the new ship would visit Singapore in early 2021 on her repositioning cruise from MV Werften.

“Singapore has been an important homeport for Genting Cruise Lines over the last 26 years and we are pleased to announce that Global Dream will celebrate her inaugural arrival in Singapore in Q2 2021 during her relocation cruise from Germany to Asia,” said Kent Zhu, President of Genting Cruise Lines. “We greatly appreciate and look forward to the continued support from the Singapore Tourism Board and our partners from Singapore and across the region.

“Having just celebrated our 25th Anniversary in Singapore last year, we are excited to return with the unveiling of Global Dream’s hull artwork at this year’s ITB Asia in Singapore. As arguably the most identifiable feature of a cruise ship, the hull artwork is another important milestone in the development of any cruise ship and will set the personality of the ship when she launches,” added Zhu. “The new hull artwork provides a fresh take on our beloved mermaid and astronaut characters and captures the adventurous spirit and sense of modernity that will be the hallmarks of Global Dream’s essence.”

Sale and Leaseback Deal for Genting Dream

Genting Dream in Hong Kong

Genting Hong Kong has announced that it has entered into a sale and leaseback agreement for the 2016-built Genting Dream.

The company has sold the ship for $900 million or 80 per cent of the closing market value (whatever is lower), in a deal involving three Chinese banks. The ship was recently appraised at $1,180,000,000 according to a filing from Genting.

The agreement also includes a bareboat charter agreement to lease the ship back to Genting for 12 years.

Genting said in a filing that the agreement would provide working capital at reasonable terms that will help it finance its cruise expansion and newbuild program at MV Werften. 

The company will purchase the ship back once the 12-year charter period has ended.

Of note, Genting said the net profit attributable to the Genting Dream in 2017 was $23,010,000 and in 2018, $19,367,000

Earlier this year, Genting also sold a 35 per cent stake in Dream Cruises.

Genting Hong Kong Sells Stake in Dream Cruises

World Dream

Genting Hong Kong announced that it has reached a deal to sell a 35 per cent stake in Dream Cruises to Canada’s TPG Darting, which is owned by TPG Capital Asia and Growth Funds.

The company said the deal would strengthen its balance sheet as well as its ability to continue to expand its fleet in the cruise industry.

According to the 2019 Cruise Industry News Annual Report, Dream Cruises has 8,800 berths in service with a market capacity of 528,000 guests.

“The Disposal would also reduce the Group’s financial burden in meeting future funding requirements in relation to Dream Cruises’ business,” the company said. “It is intended that the sale proceeds for the Disposal will be used as general working capital and capital expenditure for the Group in relation to the construction of (the Global-class ships) and/or to fund new investments of the Group should suitable opportunities arise.”

According to a Genting statement, the transaction was valued at $488,645,875. Genting also noted that Dream has a current three-ship fleet, the Genting Dream, World Dream and Explorer Dream. In addition, is a contract to build a Global-class ship at MV Werften.

“It also expects to enter into the Global II Shipbuilding Contract in relation to the construction of Global II with MV Werften,” the company said, in a prepared statement.

The agreement also noted options third and fourth Global-class ships.