Global Dream cruise ship goes to Disney group at a discount price of EUR 40 million.
DCL-Disney Cruise Line was the only interested party for the giant vessel built in Wismar (Germany). The company is taking over the three-quarters-completed mega-ship (also known as "Global One") for just 40 million euros.
Originally, the vessel was valued at a price of EUR 1.8 billion after the planned finished construction in the Baltic Sea shipyard.
Disney will take over the newbuild without warranty claims and will complete/rebuild it at its own risk and expense.
The US entertainment group, which has a large cruise division, revealed that it had received the ship "for a reasonable price". Global Dream is now to be converted in Wismar for the needs of Disney before TKMS takes over the Wismar yard in early 2025. The prefabricated construction is to be managed by the Papenburg Meyer Werft shipyard, which will temporarily take over the Wismar shipyard.
Disney is likely to invest another ~EUR 1 billion for the conversion.
With the cheap sale, a failure of the guarantees that the federal government and state of Mecklenburg-Western Pomerania had given for the building of the ship is approaching. Genting had taken out loans of EUR 650+ million from a consortium of 16 banks for shipbuilding. The repayment of the loans was secured to a large extent by guarantees from the federal and state governments.