- STX Finland strengthens board with two non-executive directors
- Three directors appointed to commercial teams of Cunard Line and P&O Cruises
- MedCruise General Assembly: Discussing and advancing best practices in Med ports
- Queen Victoria's dining options refreshed with new Verandah
- Silversea opens reservations for its 2015 World Cruise
- Carnival UK's Dingle airs thoughts of online's future role
- Carnival Corporation appoints Senior VP of Corporate Communications
- Gianni Onorato leaves Costa Crociere
- Mariner of the Seas celebrates maiden Hong Kong call – more Voyager-class programs announced for 2013 and 2014
- Star Cruises to homeport Aquarius in Kota Kinabalu from November 2013
- Creditors agree to $271 million emergency cash injection to STX Shipbuilding & Offshore
- Perception of top cruise brands continues US decline post Carnival Triumph - poll
Ports & Destinations
- Belfast to invest £7 million in Ireland's first purpose built cruise facility
- Honduras President Lobo dedicates Banana Coast Port
- Martinique to welcome Royal Caribbean's Quantum of the Seas
- Australian government grants AUD13 million to Norfolk Island cruise infrastructure
- Cruise Copenhagen Network focuses on new strategy to increase cruise guests to one million by 2015
Products & services
- MEIKO appoints new head of export sales and marketing
- Wärtsilä launches a new more powerful version of its Wärtsilä 34DF engine
- Viking Cruises selects MAN engines to power its new ocean-going cruise ships
- Herkules Private Equity buys Umoe Schat-Harding and Noreq
- Viking Line to recycle vegetation brushed off from bottoms of ships
- Category: Top Headlines
- Published on Tuesday, 26 June 2012 19:22
- Written by Kari Reinikainen
Saga Cruises, the UK based niche cruise brand, is studying the viability of ordering a newbuilding, said James Duguid, Commercial Director of Saga Shipping, the company that owns Saga Cruises. Experience has shown that major refits can overshoot budget, he pointed out.
"We are looking at ordering a newbuilding,” Duguid told the European Cruise Council’s annual meeting in Brussels. The company's cruise business has grown at a rate of about 15% per year and Duguid said it is realistic to assume a similar growth rate in the future too.
A major upgrade of a second hand vessel will add perhaps 10 years to the economic life of the vessel, but a newbuilding would have a number of features that an existing vessel cannot offer, such as better fuel efficiency and higher grade safety through better redundancy etc, Duguid said.
He revealed that the company had spent £28 million last winter to refit the 37,301 gross ton Saga Sapphire that had been built as Europa in 1982, which was £4 million more than originally intended.
Similarly, a 2010 refit of current Quest for Adventure that had started life in 1981 as Astor of 18,835 gross tons , had cost the company £24 million, again £4 million more that had been planned.
“On Saga Ruby, we spent more on the refit than what we paid for the ship,” he said, referring to the 1973 built 24,294 gross ton ship that was built as Vistafjord.
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