Genting Hong Kong, which operates three cruise brands and has the MV Werften shipbuilding group in Germany, expects a full year operating loss on the back of the coronavirus outbreak.
In 2019, the group’s operating loss amounted to $96.2 million, a 32% reduction on the previous year.
Life is starting to return to normal in China, which is an encouraging sign albeit slow improvement in consumer sentiment. “Genting Dream will recommence operation when Singapore authority reopens its cruise terminal.,” the company said in a statement.
“In the interim, the Company will continue to evaluate alternative deployment plans for World Dream while the Star Cruises fleet has suspended operations until the situation in the region improves.”
The company has decided to suspend operations in all three shipyards of MV Werften in Wismar, Rostock and Stralsund, Germany for approximately four weeks commencing from 21 March.
“The magnitude of the impact on the Group’s performance is difficult to quantify as the COVID-19 outbreak continues to spread globally. The Group will continue to monitor its business closely during this temporary disruption and adjust its plans in the best interest of the Group," Genting Hong Kong said.
