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The world’s largest cruise ship costs £1.2 BILLION to be sold for scrap before it departs

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The world’s largest cruise ship will be sold for scrap before it even departs after owners went bankrupt during construction of the £1.2 BILLION ship

  • Global Dream II was built by a German-Hong Kong shipbuilding company
  • It went bankrupt at the beginning of this year and has not been able to find a buyer
  • The giant 1,122ft liner is now being sold as scrap to raise funds

The world’s largest-ever cruise ship, which could carry 9,000 passengers and cost £1.2 billion to build, will be scrapped before it ever departs.

Global Dream II was built by the German-Hong Kong shipbuilding film MV Werften and was nearing completion when the company went bankrupt early this year.

Since then, no buyer has been found and the huge 20-deck ship is now being sold for scrap.

The world’s largest-ever cruise ship, which could carry 9,000 passengers and cost £1.2 billion to build, will be scrapped before it ever departs

The 1,122ft Global Dream II includes a cinema and open-air water park, and would have the largest passenger capacity of any cruise ship in the world

The 1,122ft Global Dream II includes a cinema and open-air water park, and would have the largest passenger capacity of any cruise ship in the world

Global Dream II was built by German-Hong Kong shipbuilding film MV Wertten and was nearly finished when the company went bankrupt

Global Dream II was built by German-Hong Kong shipbuilding film MV Wertten and was nearly finished when the company went bankrupt

The sister line, Global Dream, is also on the market, but is not being discontinued yet.

The 1,122ft Global Dream II includes a movie theater and an open-air water park, and is said to have the largest passenger capacity of any cruise ship in the world.

The largest vessel in terms of size is the Oasis-class Wonder of the Seas, owned and operated by Royal Caribbean International, with a length of a staggering 1188 feet and a passenger capacity of 6,988.

Despite the huge expenditure on construction, the ship is still £200 million short of its budget.

Global Dream and Global Dream II are stored at a German shipyard in Wismar.

No buyer has been found and the massive 20-deck ship will now be sold for scrap

No buyer has been found and the massive 20-deck ship will now be sold for scrap

A Tow Unit Navigates the Huge Central Ship of the Cruise Ship in Wismar in 2019

A Tow Unit Navigates the Huge Central Ship of the Cruise Ship in Wismar in 2019

The yard has been sold to Thyssenkrupp’s naval unit to build military ships, meaning the two giant cruise ships must be removed by the end of 2023.

While Global Dream II is structurally sound, equipment and passenger facilities need finishing.

There still remains a glimmer of hope that a buyer can be found, with Stena possibly hoping to buy it for the Chinese cruise market.

Industry experts TradeWinds said: ‘The Global Dream should have no trouble finding a buyer in a strong cruise market.

CEO of shipbuilder MV Werften Carsten Haake stands in front of the almost completed cruise ship earlier this year

CEO of shipbuilder MV Werften Carsten Haake stands in front of the almost completed cruise ship earlier this year

There is still a glimmer of hope that a buyer can be found, with Stena possibly hoping to buy it for the Chinese cruise market

There is still a glimmer of hope that a buyer can be found, with Stena possibly hoping to buy it for the Chinese cruise market

“Faced with the tight deadline to get the Global Dream out of the dock by the end of 2023, recycling the ship in Turkey is a last resort that Morgen hopes to avoid.”

Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016.

The pandemic has hit the global travel industry, including cruise operators, and has led to production shutdowns at shipyards building cruise ships.

MV Werften currently has approximately 2,000 employees in the northern state of Mecklenburg-Vorpommern in Germany.

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