Global Dream II has completed about 80% but cannot be put into use.
Before 2020, the cruise industry was thriving, with cruise tours being highly sought after and always sold out. Most ships were actively sailing the oceans, taking passengers to explore various regions around the world. However, today, those luxurious cruise ships are forced to remain idle indefinitely, facing abandonment at sea due to the current challenging situation.
The world’s largest cruise ship, yet to be used, is set to become scrap metal
The cost of owning a cruise ship is substantial, and companies will try every means to recover their final earnings. When a ship cannot be used, the first thing the owner considers is selling it to smaller companies. Some shipwrecks may be refurbished and turned into tourist attractions. If the demand for purchasing ships decreases, they will be dismantled for scrap parts.
The MV Werosystem shipyard in Warnemunde, Germany, marks the end of the Global Dream II. This is one of two cruise ships expected to break records operated by Dream Cruises. Interestingly, this ship has not been completed but has already been moved to the scrapyard.
Global Dream II can accommodate 9,000 passengers at a time, constructed by the German-Hong Kong company MV Werften. The investment in the shipbuilding process amounted to nearly 1.4 billion USD. Due to the company’s bankruptcy in early 2022, the ship must be dismantled.
The ship expected to break world records. (Photo: AutoEvolution).
The giant ship is located at the MV Werften shipyard in Warnemunde, Germany. A part of the hull has been completed, and machinery and basic systems have been installed. MV Werosystem filed for bankruptcy in early 2022.
Given the current situation, project managers are forced to cut losses as quickly as possible. Reports indicate that since the ship has not found a buyer, machinery and accessories will be sold off, while the hull will likely be sold as scrap metal.
Scrapping cruise ships is no longer unusual
The cruise ship industry has been severely affected by the Covid-19 pandemic, with many cruise lines forced to file for bankruptcy due to travel restrictions aimed at controlling the global outbreak.
In the early stages of the pandemic, large cruise ships often became hotspots for Covid-19, as passengers and crew easily transmitted the virus due to living in close quarters.
Carnival Fantasy is a famous cruise ship known for its uniquely styled decor, accommodating 2,000 guests. Since its launch in 1990, the cruise ship has impressed with its uniquely designed space themed around Ancient Egypt.
Carnival Fantasy cruise ship. (Photo: Maritime Business World).
In 2020, this 30-year-old cruise ship headed to the Aegean Sea in Turkey to conclude its final journey at the Aliaga shipbreaking yard. Its “final resting place” is a yard that dismantles cargo ships, oil tankers, and old research vessels reaching retirement age. Nowadays, this yard is receiving a series of prematurely retired cruise ships due to a lack of customers during the pandemic.
Surrounding some of the dismantled interiors of Carnival Fantasy are a variety of buyers from different industries looking for bargain deals on everything from artworks and kitchen equipment to wiring and stainless steel sinks…
Everything on a cruise ship can be sold
With the market for purchasing used cruise ships for reuse being limited, the greatest value of these ships lies in the steel that makes up their massive structures. For example, the Carnival Fantasy contains up to 15,000 tons of steel, which could be sold for over 4.7 million USD.
Aside from the risks of fluctuating steel prices, buyers of used cruise ships are also uncertain about how much steel can be recovered. Ships built before the 1990s often contain more steel in their hulls and bottom coverings, but ships produced from the 1990s onward may contain lighter and more durable alloys.
The steel and scrap metal will be sent to smelters to produce rebar for construction projects worldwide. Steel from other retired ships may be supplied to the Turkish automotive industry, where it will be used to manufacture parts for vehicles from Toyota or Ford. Aluminum, copper, stainless steel, along with other valuable commodities, will also be recovered and resold to customers in Turkey.
According to Orbay Simsek, Vice President of Simsekler Ship Recycling Company in Aliaga, there are even markets for buying kitchen utensils, wardrobes, and bedding from retired ships. Basically, everything on the ship can be sold.
