STX Europe’s Cruise & Ferry business area returns to profit
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 28 November 2011 28 November 2011
In the third quarter of this year, EBITDA improved to a positive figure of NOK 96 million from a negative one of NOK38 mllion in the same period last year. For the first nine months of 2011, EBITDA was positive by NOK161 million compared to a figure negative by NOK309 million for January-September 2010.
“Market conditions have gradually and slowly improved during 2011, however the macroeconomic picture is fragile and unstable at the moment and it is difficult to predict how this will affect the market. Despite a challenging market for new buildings, the number of potential projects within the market allows us to be cautiously optimistic about the market conditions and outlook,” the company said in a statement.
“In addition to increased activity within the cruise and ferries market, STX France and STX Finland are through diversification moving into other market segments where the yards have considerable experience and know-how. Such markets include vessels for naval operations, offshore related constructions and renewable energy/wind. The focus in ice-breaking/Arctic tonnage will continue to remain a key strategic focus, predominantly in Finland,” the company continued.
“The business area has a strong focus to secure more orders and to improve its cost base and long term competitiveness. STX Europe is committed to remaining a world leading shipbuilder of cruise vessels, ferries and other specialized vessels at its yards in Finland and France,” STX Europe said.
Is RCCL planning four Sunshine class ships?
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 24 November 2011 24 November 2011
Earlier this year Royal Caribbean Cruises Ltd (RCCL) said it had ordered one 4,200 passenger cruise liner of the new Sunshine class at Meyer Werft in Germany for its Royal Caribbean International contemporary market brand.
However, this week a subcontractor company said it has won an order for two ships of the type, plus options for two more.
“Meyer Werft GmbH, the German shipbuilder, has chosen Koja Oy to supply the air conditioning systems for two giant cruise ships. The contract also includes an option for air conditioning of further two giant ships,” said Koja Oy, the Finnish air conditioning system specliast.
Koja’s statement then said the ships would be built for RCCL and be more than 350 metres in length and accommodate 4,200 passengers each. The contract with Meyer Werft would provide work for Koja until 2015 and if the options are included until 2017, the company noted.
Costa Crociere becomes first cruise company to set up wholly-owned foreign enterprise for cruise services in China
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 21 November 2011 21 November 2011
Costa Crociere S.p.A. will establish the cruise industry’s first wholly-owned foreign enterprise (WOFE) in China. The new company will be located in Shanghai, Costa’s home port city in China, offering commercial and financial services to local travel partners and passengers, such as marketing, ticketing and collection.
"We are proud to be the first cruise company to set up a WOFE in China. Since 2006, when Costa was the first cruise company to enter the Chinese cruise market, Costa has worked closely with local government authorities to continuously propel the development of the Chinese cruise industry and act as a market pioneer in opening up new prospects. The WOFE status is our new instrument to develop business in China and enhance our commitment to long-term development in this marketplace. I would like to thank for this important achievement the local government authorities, in particular the Ministry of Transport and the Shanghai Municipality," said Mr. Pier Luigi Foschi, Chairman and CEO of Costa Crociere S.p.A.
Gianni Onorato, President of Costa Crociere S.p.A., added: "As the leading player in the market and an innovative cruise company, we always seek new ways to operate, establish new cruise itineraries, as well as to develop new cruise experiences for our Chinese passengers. In the past six years of our operation in China, we have achieved most of these targets thanks to the efforts and cooperation extended by the local authorities, in particular the Ministry of Transport and the Shanghai Municipality. With the new WOFE’s support, we are confident we will entice more Chinese consumers to experience the extraordinary holidays offered on our cruise ships, including the upcoming Costa Victoria, which will be deployed in China in 2012."
Being the first international cruise company to enter the Chinese market, Costa has become one of the best recognized, beloved and most popular tourism brands in the country. By October 2011, more than 170,000 Chinese passengers travelled on Costa’s Italian Style inspired cruises.
In the year 2011, the China Ministry of Transport revised the Approval of Foreign-owned Shipping Company Interim Measures and granted permission to foreign cruise companies operating in China to establish wholly-owned institutions. Once again, Costa becomes the pioneer to receive approval under the new government regulation. Costa’s new WOFE status will have the scope of soliciting passengers, issuing tickets, processing proceeds and payment in RMB.
On 18th November, Gianni Onorato, President of Costa Crociere S.p.A. attended the grand ceremony held jointly with Shanghai Municipality, HongKou District and other influential local authorities to celebrate the establishment of the new WOFE.
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