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CLIA and member lines welcome EU move to resume cruising in Europe

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 01 July 2020 01 July 2020

Cruise Lines’ International Association (CLIA) and its member lines welcome the publication by EU Healthy Gateways of its Interim Guidance for Restarting Cruise Operations. “This is an important marker in the possible resumption of cruising in Europe,” CLIA said in a statement.

“CLIA and its member lines have been actively engaged in the development of this Guidance and will continue to work with EU Healthy Gateways to assess the practicality and suitability of the guidance as a pan-European framework moving forward,” the organisation said.

CLIA said its member lines are currently identifying appropriate protocols, based on evolving guidance from health authorities and medical experts, that cover passengers from the time of booking their cruise, to the holiday itself and their safe return home. The guidance published today will help to inform these protocols and provide another level of trust for our customers and crew.

Speaking on behalf of CLIA Europe, Tom Boardley, Secretary-General stated: “The primary concern of CLIA and its member lines is the health and safety of its passengers and crew. This guidance from the public health authorities in Europe provides a useful resource for cruise lines as they prepare to resume operations.”

CLIA members envisage that there will be a gradual, phased-in approach to resumption of operations. Full resumption will also be dependent on a variety of factors, including international, national, and/or local arrangements, the status of the continued spread of COVID-19 in specific locales, and advancements in detection, treatment, and prevention.

Banks release €175 million in funding for MV Werften

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 30 June 2020 30 June 2020

A group of banks has released €175 million in interim funding for MV Werften, the German cruise ship builder owned by Genting Hong Kong, the state government of Mecklenburg-Vorpommern said in a statement.

The funding will ensure the liquidity of the shipbuilder from July to September, which means that it can e.g. settle all invoices of its suppliers and contractors due in this period.

Genting Hong Kong had placed €260 million on a “locked box” account, which means the funds could be released in case of a crisis to ensure continuation of work on ships on order at the shipbuilder. A total of 17 banks control the funds and the same banks finance the shipyard’s orderbook, the state said.

MSC World Europa coin ceremony in France

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 30 June 2020 30 June 2020

A traditional coin ceremony has taken place earlier at the Chantiers de l’Atlantique shipyard in Saint-Nazaire, France when the keel was laid for MSC Cruises’ first liquified natural gas (LNG)-powered ship, MSC World Europa.

The 200,000-plus gross ton ship is scheduled to enter service in 2022 and be one of most technologically- and environmentally-advanced LNG-powered cruise vessels in its class, and the first ever to be built in France, the company said in a statement.

Wärtsilä and Pastrovich Studio sign agreement to develop a sustainable hybrid boutique cruise vessel

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 29 June 2020 29 June 2020

A new generation of boutique cruise ships is set to emerge, with the luxury of a superyacht, the construction techniques and passenger experience of a cruise ship, and a close focus on the environment. These cost optimised vessels will serve the charter and luxury hotel sectors in attracting and meeting the demand from millennials and cruise veterans alike.

The technology group Wärtsilä has signed a partnership agreement with architect and yacht designer Stefano Pastrovich on the design of innovative sustainable superyachts for the boutique cruise sector.

The design will feature a fully-integrated combination of hybrid propulsion and solar panels for minimal environmental impact and high energy efficiency.

The concept is built around a 60-metre long catamaran with accommodation for up to 36 passengers. The level of sustainability will be such that it will enjoy access to harbours that would otherwise be closed to large motor yachts.

“Efficiency and environmental performance are key pillars of Wärtsilä’s Smart Marine approach, which emphasises the need to collaborate with world-class partners. This project encompasses all these ambitions, and we look forward to co-developing with Stefano Pastrovich a totally integrated solution that combines energy efficiency, sustainability and onboard comfort,” explained Giammario Meloni, Senior Sales Manager, Wärtsilä Italia.

“Wärtsilä is the ideal partner for this project,” commented Stefano Pastrovich, “since we share a vision to be the very best at what we do. Bringing together our architectural and marine technology know-how will create a mega-yacht design on the leading edge of innovation. I’m convinced boutique cruise ships of this calibre could spark a turning point in the charter market, attracting a new customer base of millennials and cruise veterans.”

Wärtsilä has extensive hybrid propulsion and energy recovery experience which will be leveraged in the new design, and has already worked with Pastrovich in other successful projects. These include the 99m X-Vintage in 2011 and the 101m X-Expedition in 2017, an innovative design that bridges the worlds of Cruising and Superyachts. Combining the modular construction techniques of the former with the attention to luxury detail that distinguishes the latter, the design takes privacy, safety, voyage experience, and environmental responsibility to new levels.

Carnival Corporation & plc announces pricing of $1.86 billion and €800 million first-priority senior secured term loan facility

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 29 June 2020 29 June 2020

Carnival Corporation & plc on June 26 announced the pricing of Carnival Corporation's first-priority senior secured term loan facility, consisting of a $1,860 million tranche and a €800 million tranche, with a maturity of five years. The U.S. dollar tranche will be issued at a price equal to 96% of its face value and will bear interest at a rate per annum equal to adjusted LIBOR (with a 1% floor) plus 7.500%. The euro tranche will be issued at a price equal to 96% of its face value and will bear interest at a rate per annum equal to EURIBOR (with a 0% floor) plus 7.500%. Both tranches of the term loan facility will be prepayable, in whole or in part, at the Company's option at a price equal to the face value plus a customary make-whole amount for the first year after closing, 102% of the face value for the second year after closing and par thereafter. The obligations under the term loan facility will be guaranteed by Carnival plc and the same subsidiaries that currently guarantee, and will be secured on a first-priority basis by the same collateral that currently secures, Carnival Corporation's 11.500% first-priority senior secured notes due 2023.

The term loan facility is expected to close on June 30, subject to customary closing conditions and the execution of definitive documentation. Carnival Corporation intends to use the net proceeds from the term loan facility for general corporate purposes, which includes the repayment of near-term debt maturities.