Royal Caribbean Group sells Azamara, to book $170 million loss

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 19 January 2021 19 January 2021

Royal Caribbean Group, the second largest cruise shipping group, said it has entered into a definitive agreement to sell its Azamara brand to Sycamore Partners, a private equity firm specialising in consumer, retail and distribution investments, in an all-cash carve-out transaction for $201 million, subject to certain adjustments and closing conditions.

Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet and associated intellectual property. The transaction is subject to customary conditions and is expected to close in the first quarter of 2021, the company said in a statement.

Royal Caribbean Group noted the transaction allows it to focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea brands.

“Our strategy has evolved into placing more of our resources behind three global brands, Royal Caribbean International, Celebrity Cruises and Silversea, and working to grow them as we emerge from this unprecedented period,” said Richard D. Fain, Chairman and Chief Executive Officer of Royal Caribbean Group.

“Even so, Azamara remains a strong brand with its own tremendous potential for growth, and Sycamore’s track record demonstrates that they will be good stewards of what the Azamara team has built over the past 13 years.”

“We are pleased that Royal Caribbean Group has entrusted Sycamore to support Azamara in its next phase of growth,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We are excited to partner with the Azamara team and build on their many years of success serving the brand's loyal customers. We believe Azamara will remain a top choice for discerning travelers as the cruising industry recovers over time”.

Azamara’s value proposition and operations will remain consistent under the new arrangement, and Royal Caribbean Group will work in close collaboration on a seamless transition for Azamara employees, customers and other stakeholders. In conjunction with the transaction, Azamara Chief Operating Officer Carol Cabezas has been appointed President of the brand.

The transaction will result in a one-time, non-cash impairment charge of approximately $170 million. The sale of Azamara is not expected to have a material impact on Royal Caribbean Group’s future financial results, Royal Caribbean said.

MSC Grandiosa to resume cruising 24 January

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 19 January 2021 19 January 2021

MSC Cruises, the Geneva base cruise operator, said that following the latest Italian ministerial decree and related updated health measures, the company’s flagship will resume its planned weekly cruises leaving every Sunday from Genoa, Italy and calling the other Italian ports of Civitavecchia, Naples, Palermo as well as Valetta in Malta.

Embarkation will be available from each port in Italy.

“The latest ministerial decree authorised the resumption of cruise operations under the protection of the unique health and safety protocol that had been developed with and authorised by the Italian health, transport and safety authorities last summer. Since then, MSC Cruises has safely welcomed over 30,000 guests on board its two ships based out of Italy,” the company said.

During Christmas and New Year, cruise operations in Italy had to be suspended due to restrictions imposed by the government in its efforts to combat the Covid-19 pandemic.

 

Photo: Detail of the interior of MSC Grandiosa

Costa and Meyer Turku celebrates float out of Costa Toscana

Details

Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 17 January 2021 17 January 2021

Costa Cruises, the Italian company of Carnival Corporation & plc, celebrated the float-out ceremony of the new flagship Costa Toscana at the Meyer shipyard in Turku, Finland on Friday, January 15, 2021.

Costa Toscana, as her sister ship Costa Smeralda, is powered by liquefied natural gas (LNG), the marine industry’s most advanced fuel technology currently available for reducing emissions, both at sea and during port calls. Costa Group, which includes Costa Cruises, Germany-based AIDA Cruises and Costa Asia, was the first in the cruise industry worldwide to introduce this technology, having ordered five new LNG-powered ships, two of which, Costa Smeralda and AIDAnova, have already entered service. They are part of an expansion plan that includes seven new ships to be delivered to Costa Group by 2023, for a total investment of more than six billion euros.

During the float-out ceremony, Costa Toscana officially touched the sea for the first time, with the flooding of the basin where she has been built in recent months. She will enter service in December 2021, once the interior fittings have been completed.

Mario Zanetti, chief commercial officer of Costa Cruises and president of Costa Group Asia, commented: "Despite the current challenging scenario, Costa Group is confirming its investment in fleet expansion. We are confident in the recovery of our industry, and we are excited about the arrival of new ships like Costa Toscana, which embodies the elements we want to focus on for the future. First of all, it is an excellent and innovative ship, attractive for new customers, which is going to be fundamental, especially when people will be able to freely travel again and will have a great desire for holidays. Looking beyond the pandemic, the second element we are focusing on is to complete the transformation of our fleet and operations into a sustainable model. In addition to LNG technology, we are developing other innovative solutions, such as shore power and batteries, as we continue to work towards achieving zero emissions over time”.

“The float-out is always a very special occasion for us shipbuilders, as the ship is finally set to her natural environment. As this is also the start of the final stage of shipbuilding, all the exciting colors, venues and features will start taking their final form. In the coming months she will be finalized at the pier and then tested and commissioned in the autumn for delivery”, CEO of Meyer Turku, Tim Meyer, said.

Fincantieri floats out Silver Dawn in Ancona

Details

Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 15 January 2021 15 January 2021

Silversea Cruises’ new ship Silver Dawn touched water for the first time on January 14 during its float-out at the Fincantieri shipyard in Ancona, Italy. The fitting out phase will now begin — during which Fincantieri’s skilled craftspeople will bring the ship’s elegant interiors to life. Silver Dawn will become the 10th ship in the leading ultra-luxury cruise line’s fleet. With the delivery of both Silver Origin and Silver Moon in 2020, and with the delivery of Silver Dawn scheduled for November 2021, Silversea Cruises – and the global cruise industry in general – continues to demonstrate great resilience.

“We proudly celebrate this major milestone in the build of our beautiful new Silver Dawn” says Roberto Martinoli, President and CEO of Silversea Cruises. “Our long-term collaboration with Fincantieri continues to push boundaries in the ultra-luxury cruise industry, while the ongoing support and expertise of the Royal Caribbean Group has been invaluable to the ship’s build. While Silver Dawn takes influence from our beloved ships Silver Muse and Silver Moon, our guests will benefit from many pioneering enhancements aboard the tenth ship in our fleet. We look forward to revealing these in the coming months”.

Luigi Matarazzo, General Manager Merchant Ships Division of Fincantieri, stated: “Based on the very successful design of Silver Muse, Silver Dawn is the fourth ship we will have built for Silversea. For a shipbuilder there can be no better acknowledgement than the one of a demanding and prestigious owner who welcomes innovation with enthusiasm. We are therefore extremely proud to celebrate the launch of this ship. She consolidates the technological and management leadership of our Group which takes on even greater value in the very challenging situation we are experiencing”.

The third ship in the Muse-class series, and part of a long-term plan to grow and enhance the cruise line’s already luxurious fleet, Silver Dawn will be a sistership to Silversea’s Silver Muse, built in the Fincantieri shipyard of Sestri Ponente (Genoa) in April 2017, and Silver Moon, which was delivered in Ancona in October 2020.

Accommodating just 596 guests in 298 ocean-view suites – 96% of which will have a private veranda – and with a crew-to-guest ratio of 1:1.45, Silver Dawn will maintain the small-ship intimacy and spacious accommodation which are the hallmarks of the Silversea experience. She will offer guests many exciting enhancements when compared to Silver Muse and Silver Moon, which will be unveiled in due course. Providing superlative comfort and an enhanced onboard experience, she will unlock authentic travel experiences for Silversea’s discerning guests in the world’s most spectacular destinations.