Disney Cruise Line’s newest acquisition, the partially completed ‘Global Dream’ was purchased by The Walt Disney Company for €40 Million according to exclusive report from Capital.de (translated link) (pdf) by Lutz Meier based on information obtained from financial circles. At the time of purchase, there is a reported €1 Billion spent on the 208,000 GT cruise ship.
Disney became the only interested buyer after negotiations with two other interested parties Swedish Stena Group and Tan Sri Lim Kok failed. This left the insolvency manager with very little leverage resulting in the favorable purchase price for Disney. Disney ultimately offered the highest purchase price according to insolvency administrator, Christoph Morgen who added the price is also lower due the entrepreneurial risk.
Disney Cruise Line will take over the ship without warranty claims. The ship will be completed with certain features reimagined under the world-renowned expertise of Walt Disney Imagineers all at the company’s own risk and expense. Estimates suggested in the report indicate Disney may spend near €1 Billion to complete and turn the ‘Global Dream’ into a Disney Cruise Line vessel.Embed from Getty Images
The Wismar shipyard where the ship has been under construction was also fell into insolvency when MV Werften went under. The shipyard was also sold via another insolvency transaction to ThyssenKrupp MarineSystems, a submarine builder, which will take over the property in early 2025. Before then, Meyer Werft will oversee the completion of the ‘Global Dream‘ at the Wismar shipyard.
Disney Cruise #8, came as a bit of a surprise with the November 16, 2022 acquisition announcement of the partially completed Global Dream vessel after the previous owner fell in to bankruptcy before completing the vessel. Disney Cruise Line was able to secure the project at a favorable price and within the capital expenditure guidance The Walt Disney Company provided on its recent earnings call.
The ‘Global Dream’ will be renamed and based outside the United States, will feature innovative Disney experiences along with the dazzling entertainment, world-class dining and legendary guest service that set Disney Cruise Line apart. The exterior will be adorned in the iconic, Mickey Mouse-inspired colors of the fleet, complete with signature red funnels. The ship is expected to be fueled by green methanol, one of the lowest emission fuels available. Disney Cruise Line anticipates the passenger capacity to be approximately 6,000 with around 2,300 crew members. At this time, it is expected to set sail in 2025.