GHK-Genting Hong Kong terminates plan to sell and lease back Crystal Endeavor expedition ship

   December 26, 2020 ,   Cruise Industry

GHK-Genting Hong Kong announced that the plan to sell and lease back the Crystal Endeavor ship for a total price of EUR 350 million had been terminated: reference was made to the GHK's announcement dated December 23, 2019.

In view of the substantial delay in building and delivery of the Crystal Cruises' vessel due to the impact of the Coronavirus (COVID-19) as well as the worldwide suspension of cruise operations and the uncertainty in relation to constraints to allow the sailings to resume, on December 22, 2020, "the Purchaser and the Seller mutually agreed and entered into a termination agreement to terminate the Acquisition Contract and Subordinated Loan Agreement."

Crystal Endeavor cruise ship

The 200-guest Crystal Endeavor was scheduled for delivery in summer 2020. However, it was announced in June that would be delayed by “about a year.”

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