Genting Hong Kong, whose subsidiaries include Star Cruises and other cruise brands, has come with an agreement with Nordic Yards to acquire three of the group’s shipyards in Germany.
The deal is worth HK$1.99 billion ($250m). Genting Hong Kong said that it has acquired the three shipyards in order to meet robust global demand for cruise ships.
“The rapid growth of the world cruise industry, especially in China, has led to global cruise ship orders reaching an all-time high,” Genting Hong Kong said in a release.
Genting Hong Kong said that it faces the risk of being unable to obtain enough cruiseship building slots to meet its plans for its three cruise brands.
“In order to address this risk, it is strategic that the group acquire its own cruise shipbuilding yards to build its cruise fleet, freeing management to focus on design, planning and deployment of its planned cruise ship fleet,” said the release.
