Oral reply to PQ on effects of the winding up of Dream Cruises and Genting Hong Kong Ltd on Singapore’s cruise industry

Question

Mr Dennis Tan Lip Fong: To ask the Minister for Trade and Industry (a) what is the Ministry’s assessment on the possible effects of the impending winding up of Dream Cruises and Genting Hong Kong Ltd on (i) the business of the Marina Bay Cruise Centre Singapore (MBCCS) and (ii) Singapore as a cruise hub; and (b) what measures will be taken to mitigate any negative impact on Singapore as a cruise hub.

Oral Answer (to be attributed to Minister of State for Trade and Industry Alvin Tan)

1. Genting Hong Kong and Dream Cruises have appointed provisional liquidators to facilitate the restructuring of both companies. We are closely monitoring the impact of these developments on those who have booked upcoming sailings on Dream Cruises’ ship World Dream, as well as the impact on Marina Bay Cruise Centre Singapore (MBCCS) and Singapore’s cruise industry. While new bookings with Dream Cruises have been suspended from 21 January 2022, World Dream currently continues to sail from Singapore.

2. Singapore remains an attractive cruise hub for many cruise lines, given our year-round tropical climate and strong market potential here and in the region. Royal Caribbean has recently brought forward its deployment of Spectrum of the Seas from October 2022 to April 2022, which will provide business opportunities for MBCCS. The Singapore Tourism Board is also in discussions with other cruise lines on their interest to resume sailings from Singapore.

3. Pre-COVID-19, Singapore had the most cruise ship calls amongst ports in Asia. As Singapore transits towards living with endemic COVID-19, we will continue our efforts to anchor more cruise ships in Singapore and maintain Singapore’s attractiveness as a cruise hub in the region.