Genting HK orders ten luxury vessels

Saturday 14th of May 2016

Luxury cruise operator Genting Hong Kong has signed an order for ten ships with the Lloyd Werft Group, local media reports.

The order includes two mega cruise ships for Star Cruises and eight vessels for Crystal Cruises.

"We are focused on delivering a world-class vacation experience for Chinese cruise passengers," said Genting chairman Lim Kok Thay.

The signing ceremony was attended by Uwe Beckmeyer, State Secretary of Maritime Affairs, Erwin Sellering, Prime Minister of the State Mecklenburg-Vorpommern and Martin Günthner, Senator for Economics and Port Affairs of Free Hanseatic City of Bremen, Tan Sri Lim Kok Thay, chairman of Genting Hong Kong.

Delivery of the vessels is scheduled for 2019 and 2020, aimed at the growing Chinese market.

The Lloyd Werft Group deal began formation last month with Genting Hong Kong's acquisition of three German shipyards for €230.6 million (US$250.8 million), with the aim to expand its cruise fleet.

“The rapid growth of the world cruise industry, especially in China, has led to global cruise ship orders reaching an all-time high. As a consequence, the Group faces the potential risk of being unable to obtain sufficient cruise ship building slots at acceptable prices to implement its planned 10 year cruise ship fleet strategy for its three cruise brands, Crystal Cruises, Dream Cruises and Star Cruises,” said Genting HK in an announcement in March 2016.

“We are pleased that Genting chose Lloyd Werft Group for the construction of their new vessels as the company has built all but one of its new cruise ships in Germany for the Star, Dream and NCL brands due to the company’s desire for quality-built cruise ships,” said Rüdiger Pallentin, the managing director of Lloyd Werft Group.

"China has gained an increasing competitive edge and a number of big ship components are produced in China and thus Germany becomes more of an assembling place." said Pallentin, adding that China has become an integral part in Germany's cruise industry, not only in high-quality production, but also in financing and operation.

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