About two weeks ago, we reported Disney had purchased a massive 19-deck cruise ship called Global Dream, which remained unfinished at the time. Now we’ve learned Disney paid a comparably paltry sum for the massive ship.
According to the German business news site Capital, Disney reportedly paid only $41 million for the still-unfinished Global Dream ship, which was around 75% finished while construction was underway at MV Werften in Wismar, Germany. The shipyard, owned by the ship’s former owner Genting Hong Kong, had gone into administration following its parent company’s bankruptcy as a result of the COVID-19 pandemic.
Global Dream was originally estimated to cost around $1.8 billion to construct, leaving Disney with significant financial room to improve the ship while still coming in under cost for a new ship. At a $41 million cost, that’s just over two percent of the original ship’s estimated cost.
Disney is expected to work with their typical shipbuilder Meyer-Werft, who will temporarily take over operations of the former MV Werften shipyard in Wismar to complete and outfit the new ship before its new owner ThyssenKrupp Marine Systems takes over the yard in 2025.
Disney is expected to spend another $1 billion in converting and finishing the ship according to Capital, although new SEC filings state “total costs are anticipated to be less than our recent fleet additions,” also noting the cost of the ship was “not material.”
Disney Cruise Line noted the “acquisition of a partially completed ship that will bring the magic of a Disney Cruise Line vacation to new global destinations” at the time of purchase. It will “feature innovative Disney experiences along with the dazzling entertainment, world-class dining, and legendary guest service that set Disney Cruise Line apart.”
The ship is expected to have its maiden voyage in 2025 with a passenger capacity of approximately 6,000. It will be renamed, likely in line with the other Disney Cruise Line ship names (such as Disney Magic, Disney Wish, and Disney Dream).
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Disney Reportedly Paid Less Than 3% Value for Unfinished ‘Global Dream’ Cruise Ship
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