A massive unfinished cruise ship is likely to be sold for scrap because no one wants to buy it, a report says

• The Global Dream II could be scrapped.

• The ship was being built for a cruise line. The parent company declared Chapter 11 in January.

• Around 80% of Global Dream is finished, but it's not selling.

According to a report by German cruise-industry magazine An Bord, a huge unfinished cruise ship is likely to be sold for scrap because no one wants to buy it.

The administrator of Global Dream II said at a press conference that attempts are being made to sell some of the equipment.

The half-finished keel will be sold for scrap after that.

The holding company of MV Werften filed for Chapter 11 in January. One of the three cruise lines owned by Genting was built by the shipmaker.

Global Dream, the other vessel in the series, is incomplete and currently sitting at a dock in northern Germany. An Bord reported that the shipyard was sold to a company that plans to build watercraft, including submarines, on the site. It will take a year and a half to shift the ships.

The administrator of Global Dream never received a proper offer despite numerous parties expressing interest.

According to German radio station NDR, Global Dream is 80% done. If attached to an ocean tugboat, the vessel can be towed to another location.

A new owner would have to spend a lot of money to redesign the ship's cabin, deck, and drive concept if they wanted to deploy it elsewhere in the world.

Stena, which owns a ferry line, was interested in buying Global Dream but dropped out due to uncertainty in the Asian cruise market.

Global Dream will be sold in an auction if there are no serious offers in the next few weeks. The liquidators denied the claims and said they were looking for a buyer, according to the maritime executive.

Morgen didn't reply to the request for comment.

The Global Dream was going to be one of the world's biggest cruise ships and was going to debut in early 2021. The 1,122-foot ship was supposed to hold more than 9000 passengers and 2,200 crew.

Dream Cruises said that the cabins would be 15% larger than those on other vessels. A theme park was going to be on the ship.

The company had close to 2,000 workers before it ceased operations.

Business Insider has an article on it.