Remember when Dream Cruises stated that they would only be suspending their bookings for two weeks, which was supposed to end yesterday (4 Feb)?
Yeah, about that….
I have bad news for the cruise-goers, because Dream Cruises will be suspending their bookings until ‘further notice’, which could really mean anything at this point.
In any case, the company is heading for troubled waters, and it could be as treacherous as the Bermuda Triangle. Figuratively, of course.
Sinking Ships
After a string of wind up petitions—which means the compulsory liquidation of a company after it files for bankruptcy—, starting from the German shipbuilding subsidiary MV Werften, then the parent company Genting Hong Kong, and now Dream Cruises itself, the entire chain of touring cruises have been placed in jeopardy.
Dream Cruises had filed to wind up its company with the Bermuda Courts on 27 January.
The suspension of bookings will continue into the foreseeable future as joint provisional liquidators inspect the state of the business, whilst examining and identifying the options available for Dream Cruises in the future.
The Future of Dream Cruises
Contrary to its brand name, things aren’t very optimistic or hopeful for Dream Cruises right now.
Like its parent company, Genting Hong Kong, they had resorted to appointing join provisional liquidators more so with the intent of finding potential solutions to their current financial problems and to restructure the entire organisation.
Dream Cruises assures its loyal cruise-goers that it will continue to operate in the region, which includes the vessel World Dream in Singapore.
The spokesperson for Genting Hong Kong also claims that the company will continue to monitor the domestic circumstances and operational opportunities for Genting Dream and Explorer Dream in their own markets.
It’s evident that this will not be Genting Hong Kong’s last hurrah, and they are striving for ways to climb out of the debts and the unfortunate circumstances it has found itself in.
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Worries of the Cruise-goers
Although Dream Cruises has suspended future bookings, it has never changed its stance regarding the fact that bookings made before the initial suspension will proceed as planned.
For Ms Stella, however, the recent news of the failing companies had caused her to become split between cancelling the trip or waiting out the storm.
Ms Stella had booked a cruise for her family of four for April, which cost around $1,500 in total.
In an interview with The Straits Times, she said that despite the assurances that business will go on, the entire ordeal has been quite unsettling. She’s uncertain about what she should do, nor does she know if she’ll be able to get a refund if she cancelled the trip now.
Nonetheless, she hopes that the cruise trip will sail smoothly without any hiccups.
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