KfW IPEX-Bank to fund Dream Cruises two new ships

KfW IPEX-Bank to fund Dream Cruises two new ships
Two new Global Class vessels will join sister ship Explorer Dream in 2021 and 2022 (Image: Dream Cruises)

Genting Hong Kong (GHK) has officially secured funding for the construction and post-delivery financing of Dream Cruises’ two new Global Class ships. KfW IPEX-Bank will supply US$2.9 billion, with backing from the Federal Republic of Germany, Finnish export credit agency Finnvera, and the state of Mecklenburg-Western Pomerania. 

At an overall cost of €3.1 billion (US$3.4 billion), the two new vessels are currently being built at GHK-owned shipyard MV Werften in Germany for the fast-growing Asian cruise market. 

“We are very appreciative of KfW IPEX-Bank, the bank consortium, the Federal Republic of Germany, the state of Mecklenburg-Western Pomerania and Finnvera for supporting GHK in the financing of the Global Class ships,” said Tan Sri Lim Kok Thay, chief executive of Genting Hong Kong. “Dream Cruises’ focus now is to launch the Global Class ships at IBTM China in Beijing on 28 August, building on the foundation established by Explorer Dream in East and North China this year.” 

The Global Class ships will be the largest cruise ships ever built in Germany. Each 204,000gt ship will feature 2,500 suites and cabins, able to accommodate up to four passengers in each. With a maximum capacity of up to 9,000 passengers, the new vessels will be the largest in the world.  

The two Global Class ships will enter service in early 2021 and early 2022, joining sister ships Genting Dream, World Dream and Explorer Dream. By 2022, the cruise line will have the youngest fleet in the world. 

The official launch of the first Global Class ship will take place at IBTM China in Beijing on 28 August. During the event, the ship’s name will be revealed and a large-scale Dream Cruises exhibition will showcase a full-scale reproduction of a Global Class cabin. 

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Elly Yates-Roberts
By Elly Yates-Roberts
Monday, August 19, 2019