Top Headlines

Genting Hong Kong acquires Crystal Cruises

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 03 March 2015 03 March 2015

Today, Nippon Yusen Kabushiki Kaisha (NYK), Crystal Cruises’ parent company since its inception in 1988, announced it has entered into an agreement with Genting Hong Kong (GHK), under which Crystal Cruises will be acquired by GHK. The acquisition is expected to close in the second quarter of 2015.

With the support of GHK’s financial strength and expertise in ship design, Crystal Cruises’ fleet size will expand with a new ship, elevating the standard of luxury cruising and luxury cruise ships. Crystal’s fleet currently features Crystal Symphony and Crystal Serenity.

“After 25 successful years with NYK, we are excited to have Genting Hong Kong as the new owner of Crystal Cruises,” said Edie Rodriguez, President and COO of Crystal Cruises. “The proposed expansion of our fleet will present our loyal Crystal Society members and new luxury cruise guests with more itinerary options, accommodation choices and exceptional vacation experiences, as we continue to position Crystal as the innovative leader in global luxury cruising. Additionally, Crystal’s veteran leadership, management and crew will continue to focus on our award-winning guest service and our strong partnership with the travel agent community - which now has a greater opportunity to grow their business with a larger menu of Crystal product offerings.”

Established in 1993, GHK is part of the Genting Group, a global hospitality and leisure company with business in over 20 countries, including the United States in New York, Florida and Nevada. GHK wholly owns Star Cruises, Asia’s leading cruise line, and is a major shareholder of Norwegian Cruise Line. It is a public company primarily listed on the Hong Kong Stock Exchange and secondarily on the Singapore Stock Exchange.

“Crystal Cruises offers the epitome of luxury cruising and the service standard which all other cruise lines aspire to,” said Tan Sri Lim Kok Thay, Chairman, CEO and Acting President of GHK. “The current management team and crew will continue to lead Crystal Cruises. Genting will provide financial resources and proven expertise in innovative ship design to build a new ship that will set the highest standard in luxury cruise ships. This new ship, together with Crystal’s legendary six-star service, will reinforce Crystal Cruises’ reputation as the world’s leading luxury cruise line for decades to come.”

Under the terms of the agreement, GHK will acquire Crystal Cruises for US$550 million in cash which is subject to certain adjustment items to be ascertained after the closing. Crystal Cruises’ two ships have approximately 1,992 lower berths and the consideration has been determined on a cash-free and debt-free basis, translating into an enterprise value to lower berth ratio of approximately US$276,000.

TUI Cruises buys Splendour of the Seas for Thomson Cruises in UK

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 02 March 2015 02 March 2015

TUI Cruises unit of the Anglo-German travel group TUI AG has acquired Splendour of the Seas from Royal Caribbean Cruises Ltd. (RCCL) that owns 50% of the buyer company for introduction on the UK market under the Thomson Cruises brand name in the summer of 2016. It will replace the 1982 built Island Escape of 40,171 gross tons, marketrd under the Island Cruises brand name.

"The TUI Group will modernise its UK cruise operations through the acquisition of Splendour of the Seas from Royal Caribbean Cruises Ltd. The ship will be acquired by the Group’s subsidiary TUI Cruises, a joint venture between TUI Group and Royal Caribbean Cruises Ltd., and chartered to the Group’s British cruise line Thomson Cruises," TUI said in a statement.

"Splendour of the Seas is to be operated in the British market from Summer 2016. The vessel will replace Island Escape, currently operated by Thomson Cruises’ sister company Island Cruises, so that the overall UK fleet will continue to be comprised of five cruise ships. Financial details of the transaction were not disclosed," the company said.

Splendour of the Seas has a gross tonnae of 69,130 and a capacity of 1,830 passengers (double occupancy) and offers more than 900 cabins, nearly 40% of which have a balcony. The ship will be the largest vessel in the Thomson Cruises fleet. It was fully refurbished a few years ago. Following its integration in the fleet, Splendour of the Seas will be renamed.

"As already announced at our Annual General Meeting, we intend to continually modernise our fleet in the UK in the next few years. The acquisition of the Splendour of the Seas is the first step in this direction. We regard the cruise market as a growth market for our Group and intend to develop into one of Europe’s leading providers in this segment," said Sebastian Ebel, TUI Group CEO Platforms in charge of cruise operations.

The TUI Group currently has a fleet of 12 cruise ships via its subsidiaries TUI Cruises, Hapag-Lloyd Kreuzfahrten and Thomson Cruises. Mein Schiff 4 will be commissioned in the summer of this year. Mein Schiff 5 and Mein Schiff 6 have already been ordered and will be delivered in 2016 and 2017.

HM The Queen to name Britannia

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 27 February 2015 27 February 2015

Her Majesty The Queen, accompanied by His Royal Highness The Duke of Edinburgh, will name the new P&O Cruises vessel Britannia at Ocean Terminal, on Tuesday March 10, 2015, P&O Cruises said in a statement.

The biggest ship designed exclusively for Britain, Britannia is P&O Cruises latest "modern classic", heralding a new era of holiday choice.

"We are honoured and proud that Her Majesty will name Britannia almost 20 years after she named the P&O Cruises ship Oriana.

"Britannia, a ship for the nation, will be the embodiment of contemporary Britain, and with her Union Jack livery she will fly the flag for Britain across the Globe,”said Carnival UK chairman, David Dingle

MSC Cruises unveils Vista and Seaside class details, additional order plans

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 27 February 2015 27 February 2015

MSC Cruises, the world’s fourth largest cruise shipping group in terms of capacity, has unveiled details about its Vista and Sunshine class newbuildings plus plans to order more of these ships.

Two 167,600 gross ton Vista class vessels are on order at STX France for delivery in 2017 and 2019 respectively. However, the Geneva based company said on a video that it intends to take delivery of two additional 5,700 passenger units, which are due to enter service in 2020 and 2022, respectively.

The Vista class will feature an aqua park with amusement park, double deck indoor promenade lined with bars and restaurants plus an 80 metre led dome, the largest on any ship. A double deck lounge in the aft will be provided for entertainment. There will be family cabins, while suites will feature private Jacuzzis. The Yacht Club will be enhanced compared to existing ships.

The Sunshine class of two 154,500 gross ton ships from Fincantieri in Italy, with deliveries due in 2017 and 2018, would be complemented by a third unit that is scheduled to enter service in 2021.

The 5,300 passenger Sunshine class vessels are designed for warm water cruising and they will feature 43,000 sqm of public areas. A double deck atrium with a glass wall facing the stern will be a feature of these ships, as will panoramic lifts. A waterfront promenade will be featured, while accommodation will comprise family cabins and suites with private Jacuzzi.

Evac Group acquires Deerberg Systems

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 27 February 2015 27 February 2015

Evac Group (Evac), a Finnish leading global provider of environmentally friendly water, waste and wastewater collection and treatment equipment and solutions for the marine, building and offshore industries, says it has acquired Deerberg-Systems GmbH in Germany.

Deerberg, based in Oldenburg, Germany, is the global market leader in marine environmental protection systems for the treatment of dry and wet waste (DW) on board all kinds of vessels. The Deerberg Multi-Purpose-Waste-Management-System MPWMS® is renowned in the marine industry to be the leading solution in this field. With this acquisition Evac is now able to offer a total, flexible multipurpose waste management system from one source.

According to industry estimates, the DW treatment market will continue to grow in the coming years. These estimates are based on strong demand coming from the cruise vessel and ferry segments. The acquisition of Deerberg will elevate Evac to be the leading player for total waste management systems in the cruise ship segment.

Tomi Gardemeister, CEO of Evac Group Oy, says; “The fit with the excellent DW solution lines of Deerberg is perfect. This acquisition will strengthen our role as a solutions provider for the cruise business sector, because the requirements of waste logistics needs and DW treatment are growing within the sector.”

“ This move will further enhance our total waste management solutions offering to our main customers, both in recycling and recovery, as well as in energy efficient thermal treatment,” he said in a statement.

Cruisebusiness.com