A team of HFW lawyers has advised Chinese Dream Limited, a wholly-owned subsidiary of Genting Hong Kong Limited (Genting), on its newbuild cruise ship order with German shipbuilder Meyer Werft GmbH, in a deal worth €707.2 million (approx. HK$7,574 million).
The deal, which was led by Hong Kong Partner Patrick Yeung, involved HFW lawyers from both the Hong Kong and London offices. From the London office, Partner Elinor Dautlich and Senior Associate Alex Sayegh acted for Genting in negotiating the shipbuilding contract, with Partner John Forrester and Associate Gudmund Bernitz advising on the ECA-backed financing of the newbuild.
The Genting Group operates under the principal brand name of Star Cruises. Star Cruises, together with its associate company, Norwegian Cruise Line Holdings Limited is the third largest cruise operator in the world, with a total combined fleet of 20 ships travelling to over 130 destinations, offering approximately 42,000 lower berths. Genting is listed on the Stock Exchange of Hong Kong Limited and is traded on the GlobalQuote of the Singapore Exchange Securities Trading Limited.
HFW Partner Patrick Yeung said of the deal: “The construction of this cruise ship is entirely in line with Genting’s long-term strategy to develop its cruise business in the Asia-Pacific market. The new ship will principally serve the mainland China, Hong Kong and Taiwan markets, which are growing in terms of cruising.”