HONG KONG: Crystal Cruises is suspending planned sailings of its two ocean-going ships and one expedition ship through 29th April, with river cruises on hold until the end of May.

"This was an extremely difficult decision, but a prudent one given the current business environment and recent developments with our parent company, Genting Hong Kong," said Jack Anderson, president of Crystal Cruises, as quoted by Cruise Industry News.

Crystal's parent company, Genting Hong Kong, which also owns the Star and Dream Cruises brands, previously announced its intention to reduce operations, while noting it would run out of cash by the end of January.

Earlier this month, Genting's shipyard, MV Werften, also announced its insolvency.

In a statement sent to guests and travel agents, Crystal said, "Suspending operations will provide Crystal's management team with an opportunity to evaluate the current state of business and examine various options moving forward."

The company said its three ships currently operating, the Crystal Serenity and Crystal Symphony, both sailing in the Caribbean, and the Crystal Endeavor in Antarctica, will complete their current voyages.

The Crystal Symphony's cruise will end in Miami on 22nd January, while Crystal Serenity will complete its voyage in Aruba on 30th January. The Crystal Endeavor will finish its trip in Ushuaia, Argentina on 4th February.

Crystal will provide a refund to guests sailing on back-to-back voyages for unused days, as well as related port charges, taxes and fees. It will also offer a full refund for any future bookings.