The company was originated in Genting Hong Kong's purchase in April 2016 of three shipyards from Nordic Yards, located in Wismar, Stralsund, and Rostock-Warnemünde.

[11] Due to the COVID-19 pandemic, MV Werften suspended operations in March 2020, delaying the expected deliveries of both Universal and Global class vessels.

[12] In October 2020, MV Werften received a €193 million loan from the German federal government's Economic Stabilisation Fund, which allowed for the resumption of work that month on Crystal Endeavor, with a target of a March 2021 delivery, and Global Dream.

[13] In January 2022, MV Werften filed for bankruptcy, following a breakdown of talks between the German government and Genting Hong Kong to secure further support to refinance its shipyards' operations.

[14] An administrator was appointed by the courts, with a stated aim to pay the outstanding salaries of the workers and complete Global Dream.