Genting Hong Kong, the casino cruise arm of Genting Bhd, is improving its fleet of casino vessels. Through its German subsidiary, MV Werften Wismar GmBH, the company has reached an agreement with a Finnish marine engineering company that will be responsible for outfitting the ships with fixtures and equipment. The deal will see Genting pay the company, Almaco Group Oy, approximately $97.1 million to outfit the ships that are scheduled to be complete between now and 2021.
Genting made the announcement through a filing with the Hong Kong Stock Exchange. It added that the price was agreed upon after “arm’s length negotiations between the parties with reference to, among others, the market value of similar systems for installation onto, and use by, comparable cruises at the time of negotiation.”
Almaco is a full service engineering contractor that provides new ship construction, as well as renovations of areas such as cabins, public spaces, galleys, wet units, machinery and refrigeration spaces, living quarters and store rooms. The two companies had previously reached an agreement for Almaco to supply MV Weften with equipment worth around $30 million.
Genting operates cruise ships under three brands—Crystal Cruises, which it acquired in 2015, Dream Cruises and Star Cruises. The company has positioned each for a specific market, with Crystal geared for the ultra-luxury segment, Dream for the premium segment and Star for the contemporary segment.