Genting Hong Kong Reports First Half 2017 Results

Genting Hong Kong has reported total comprehensive income for the first half of 2017 at $165.1 million with a loss of $203.2 million, due mainly to startup of new brands for its cruise division as as well the MV Werften Shipyard as it invests in the facility to build new cruise ships. 

“We are pleased with the market reception of the Genting Dream, the first newbuild ship for the Dream brand of Genting Cruises after nearly 20 years. After a 6 months startup period, we are pleased that Genting Dream achieved profitability standards comparable to global industry standards in the first seven weeks of the third quarter of this year,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive of Genting Hong Kong.

The World Dream arrives in November of this year and will replace the Genting Dream in the Pearl Delta.

The Genting Dream will be homeport in Singapore with much faster market acceptance as travel agents and passengers have experienced the luxury standards of Dream Cruises in the Pearl Delta homeport, the company said. 

With the arrival of the Genting Dream in Singapore, SuperStar Gemini will move from Singapore to her new homeport in Bangkok, Thailand and with the repositioning of the SuperStar Libra to the homeport in Port Klang, the Star Cruise and Dream Cruise brands will have homeports and destinations that will cover the entire East Asia, including China, Japan, Singapore, Malaysia, Thailand, Philippines, Indonesia, Myanmar, Cambodia and Vietnam.

Genting Cruises have the largest passenger capacity, more homeports and destinations than any other cruise brand in Asia.

“With the unavailability of slots for large cruise ships for nearly the next decade, we have taken the strategic step of buying MV Werften shipyards in order to build ships for our three cruise brands,” said Colin Au, Group President of Genting Hong Kong. “After delivering our first of four “Rhine Class” river ship this month, we are now focused on building the first 20,000 gross ton “Endeavor Class” cruise ship by late 2019 and the first 204,000 gross ton “Global Class” cruise ship by late 2020 with steel cutting of the two types of vessels planned for March next year.”

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