The unfinished luxury cruise ship Global Dream, which was supposed to be one of the largest cruise vessels in the world in terms of capacity, is standing in a German shipyard MV Verften, waiting for its fate.

The lower hull of the ship known as Global Dream II, another global class ship from the insolvent shipyard MV Verften on the German Baltic coast, will be disposed of at the price of waste, An Bord reported. The machines and a large part of the equipment, which has already been delivered, will be sold, the German magazine said at the press conference on Friday, quoting the bankruptcy trustee Christoph Morgen.

Mr. Morgen's focus is now on his sister ship Global Dream, which is ready to float in the dock in Wismar, northern Germany, the magazine states. MV Verften's Wismar shipyard has been sold to the Kiel-based naval unit of ThyssenKrupp, which plans to build warships there from 2024 amid growing tensions following Russia's invasion of Ukraine. ThyssenKrupp Marine Systems wants to be big until it is available by the end of next year, it is stated in the announcement.

Both ships were ordered by Asia-based Dream Cruises, which went bankrupt along with its parent company Genting Hong Kong earlier this year after the COVID-19 pandemic reduced demand for cruises.

Plans to end the Global Dream at the Wismar site have failed, An Bord said. Sweden's Stena, which wanted to make a product for cruising in Asia, was the only interested party. He was saved when the former owner of Genting, Lim Kok Thai, announced a new brand for cruising in Singapore at the same time as China supported strict travel restrictions, the magazine states, also citing tensions in the South China Sea.

The Global Dream could be towed to any location in the world by ocean tugs, the magazine states. If no serious buyer is found in the coming weeks, Mr. Morgen will have to start the bidding process, which would enable brokers who have contacts with maritime waste to submit their bids, the statement said. German cruise ship builder Meyer Werft could help complete the Global Dream, after which the ship would be closed due to the current lack of customers, Ostsee-Zeitung reported this week.