Top Headlines

Certares Holdings invests in Mystic

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 03 June 2019 03 June 2019

Mystic Invest Holding has closed on an investment from Certares Holdings, an investment platform managed by Certares Management LLC, a global travel, tourism and hospitality investment firm. Certares joins the Ferreira family as shareholders of Mystic, a Portuguese-holding company and leader in the cruising industry with more than 25 years’ experience. Certares is committed to supporting Mystic’s long-term growth initiatives and innovation in the river and expedition cruising segments. The Ferreira family maintains majority share and operational control of Mystic.

Simultaneous with the transaction, DouroAzul, Nicko Cruises, Mystic Cruises and Mystic Cruises USA were contributed to the company, with the Ferreira family and Certares as shareholders. The Ferreira family has retained full ownership of its existing non-cruise businesses. DouroAzul is the leading river cruise company in Portugal and an award-winning cruise operator, having been considered the best River Cruise Company in Europe on five occasions. With more than 20 years of experience, DouroAzul also provides sightseeing cruises on the Douro River. Based in Germany, Nicko Cruises offers river cruise programs across 12 rivers in three different continents. From the unspoiled landscapes of the Douro, crossing European art centers on the Rhine and the Danube, to the exotic shores of the Yangtze and the Mekong, Nicko provides the perfect settings for dream cruises. Mystic Invest also operates Mystic Cruises USA, a U.S. distributor of its ocean cruises, which offers expedition-style adventures in eco-friendly ways and brings guests to Antarctica, the Arctic, and other high-adventure destinations.

Mário Ferreira, shareholder and CEO of Mystic, said “Our partnership with Certares comes at a wonderful period of opportunity and growth for Mystic. We look forward to continuing our growth in the river cruising market and expanding our capabilities with the launch of our expedition fleet. We are proud of the company we have built and welcome Certares as shareholders in our family business. By partnering with Certares, we will be able to leverage its expertise in the global travel industry to continue to innovate and provide the very best experience for our guests.”

Colin Farmer, Senior Managing Director and Head of the Management Committee of Certares Management LLC, said “We are extremely excited to be partnering with the Ferreira family as shareholders of Mystic. Mário, Paula and the Mystic team have built a wonderful business, with durable and growing leadership positions on the Douro River, in the German market with Nicko Cruises, and as an emerging expedition cruise operator globally. We look forward to supporting the Company as it enters the expedition cruising space, which is an exciting next chapter in the Company’s development. We are partnering with an exceptional team in a growing and innovative business.”

Ritz-Carlton orders second of planned three cruise yachts

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 31 May 2019 31 May 2019

The Ritz-Carlton Yacht Collection, which is part of the UJS based hotels group Marriott Inc, has ordered a second high end of the market cruise yacht from the Barreras shipyard in Spain, the shipbuilder said.

The 24,000 gross ton vessel will have a length of 190 metres and it will be able to accommodate 298 passengers. The first unit of the class, to be named Azora, is due for deliver in November this year.

Ritz-Carlton and Barreras have a letter of intent that covers the construction of three ships of this type.

At least seven killed, 21 missing after two vessels collide in Budapest

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 31 May 2019 31 May 2019

At least seven people have been killed and 21 are missing after Viking River Cruises’ 135 metre Viking Sigyn collided with a Hungarian excursion vessel on the River Danube in Budapest on Thursday evening, media reports say.

The excursion vessels had 35 people on board, of whom 33 were from South Korea, when it collided with the much larger vessel near the Parliament building in the Hungarian capital.

Video footage on Reuters' website shows the smaller vessel being pushed under a bridge by Viking Sigyn. Reports say that the excursion vessel capsized and went down in a matter of seconds after the collision.

The wreck has been found a few hundred metres from the berth that the vessel used, but hopes of finding more survivors are fading rapidly. The currents were very strong following heavy rain that had raised water levels and a thunderstorm was about to break out at the time of the accident, reports say.

SunStone Ships signs for seventh newbuild

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 31 May 2019 31 May 2019

SunStone Ships signed an agreement Wednesday, May 29, 2019 in Hong Kong, China for the  Infinity-class Vessel No. 7, continuing with the European designed, Chinese built concept.

The seventh vessel now ordered has a long-term charter agreement in place, this vessel will be delivered in September 2021.

Infinity-class new-builds underway include the Greg Mortimer, scheduled to be delivered August 2019, the Ocean Victory in October 2020, the Ocean Explorer in January 2021, the Ocean Odyssey in March 2022, the Ocean Discoverer in September 2022 and the Ocean Albatros in October 2022.   

Infinity-class Vessels are 104 meters long, and 18 meters wide, having a draft of 5.1 meters; they feature a capacity between 130-200 passengers and a crew capacity between 85 and 115 members. The vessels are Ice Class 1A, Polar Code 6 and are being built with Safe Return to Port, Dynamic Positioning, and Zero Speed Stabilizers.   The Vessels are featuring the X-Bow by Ulstein Design & Solutions. They are small enough to give an exclusive atmosphere, yet large enough to yield all expected services and facilities as larger cruise ships such as a swimming pool, bar, restaurants, lounge, boutique, gym, and a spa.

Helsinki Shipyard signs LOI for two expedition cruise ships – report

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 May 2019 28 May 2019

Helsinki Shipyard in Finland which has just changed owners, has signed a letter of intent (LOI) with an undisclosed customer to build two expedition cruise ships, the Hufvudstadsbladet daily reports.

The vessels will have capacity of 150 to 160 passengers each, the report said.

The shipyard is now owned by Algador Holdings, a Cyprus based company owned by Vladimir Kasjanenko, who is a Russian citizen and Rishat Bagautdinov who is a citizen of Belgium.

Helsinki Shipyard was previously known as Arctech and it was fully owed by United Shipbuilding Corporation (USC), a Russian state owned company. Sanctions imposed by the United States against Russia hampered its business and USC decided to sell Arctech, which has currently no vessels in its orderbook.

The shipbuilder’s history spans about 150 years and it has changed hands several times over the decades. Before USC, it was owned by STX Offshore & Shipbuilding through its STX Europe unit, which was preceded by Aker Yards, Kvaerner Masa-Yards and Wartsila Marine Industries.

It has played a prominent role in the development of the modern cruise industry as it built e.g. the first three ships of Royal Caribbean Cruises, Ltd (RCCL) and the Royal Princess of 1984, which revolutionised the layout of cruise ships. No cruise ships were built at the yard during the ownership of USC and Aker Yards used it mainly to build large ferries.

elsinki Shipyard leases the land on which its facilities are located from the municipal government. “One of my first tasks is to try to extend the lease with the City of Helsinki. The present contract will expire in 2035 and we want to extend it to 2045,” Managing Director Carl-Gustaf Rotkirch was quoted by Hufvudstadsbladet as saying.