New Genting cruise ships for long term charter

2019-12-13T13:52:44+00:00 December 13th, 2019|Ships|

Genting is to build a series of new mid-size cruise ships, which will operate on charter to global hotel brands.

The cruise line intends to order the vessels from its wholly-owned shipyard group, MV Werften. The project will provide enough work to keep its three German yards busy until 2024.

MV Werften is currently building two ‘Global Class’ vessels for Genting, with the first delivery scheduled for 2021. The keel-laying ceremony for the second in the series was held this week, at which Genting CEO Tan Sri Lim Kok Thay announced the building of the ‘Universal Class’.

“After the delivery of the two ‘Global Class’ ships, the largest ships ever built in Germany, we will contribute our experience to the construction of the ‘Universal Class’,” confirmed MV Werften CEO, Peter Fetten, at the ceremony.

While smaller than RCL’s 230,000 gt ‘Oasis Class’, the 208,000 gt ‘Global Class’ ships will each have a capacity for 9,000 pax – the largest in the cruise ship sector.

The ‘Universal Class’ will be smaller than the ‘Global Class’ at about 90,000 gt and about 2,000 pax capacity. They will be powered by LNG and their interior design will offer a more spacious environment, Genting said.

Since March, 2016, the former shipyards in Wismar, Rostock and Stralsund have been operating as MV Werften under Genting’s ownership.

Employment at the yards has doubled since the construction of the ‘Global Class’ began, and Genting is investing $300 mill in yard modernisation. Genting also owns Bremerhaven-based Lloyd Werft, which focuses on cruise ship repairs and superyacht construction.

“The acquisition of our shipyards is part of the strong strategy of [Genting], which now has its ships built on its own shipyards,” said CFO Carsten Haake. “It recognised the need to renew the infrastructure and has demonstrated willingness to invest.”