Comment – GPH-Nassau deal hugely important to both parties
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 29 August 2019 29 August 2019
An agreement between a consortium led by Global Ports Holding Plc (GPH) and the Government of the Bahamas that gives the former a 25 year lease on cruise facilities in Nassau through a consortium called Nassau Cruise Port (NCP)is vitally important to both GPH as a company and Nassau as a destination.
GPH, which is headquartered in Istanbul and listed in London, has seen its shares fall by more than half since flotation in 2017. First trouble with cruise ports in the Eastern Mediterranean and lately weak performance of its cargo handling ports in Turkey has disappointed investors.
The company has been in need of good news and major one for that. Such news came today: shares in GPH closed 10% higher at £3.30 on the news.
The fortunes of Nassau took a turn for the better when, earlier in the summer, US based cruise ships were banned to call at Cuban ports by the US President Donald Trump. Nassau is an obvious winner as cruise lines look at new itineraries.
Making the port more interesting to cruise lines and their passengers through major investment should help Nassau to take full advantage of its geographical location close to south Florida and the new situation that has embraced the cruise industry in the Caribbean.
Global Ports Holding wins 25 year concession to operate Nassau Cruise Port
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 29 August 2019 29 August 2019
Global Ports Holding Plc (GPH), the world's largest independent cruise port operator, said that it through Nassau Cruise Port Ltd (NCP) has signed a 25-year port operation and lease agreement with the Government of the Bahamas for the Prince George Wharf and related areas at Nassau cruise port.
NCP is a consortium comprising GPH, the Bahamas Investment Fund and the Yes Foundation. Shares in the Istanbul based GPH that is listed in London soared 10.4% to £3.30 on the news.
Nassau is one of the most popular cruise destinations in the world, attracting 3.7 million passengers per year with its unique combination of natural beauty and cultural heritage. It is in close proximity to the United States, with the largest cruise port in the world, Miami, within easy cruising distance.
Under the terms of the agreement, GPH will use its global expertise and operating model to manage Nassau Cruise Port. In addition, NCP will invest up to $250 million in expanding the capacity of the port, as well as taking a number of innovative steps to transform the cruise port experience for both the passengers and the local population.
The Nassau Cruise Port project involves the regeneration of the port and local town of Nassau. Through a majority Bahamian-owned public-private partnership (PPP), Global Ports Holding will work to enhance the cruise passenger experience and provide additional business opportunities for the local population.
The project will also see the building of a new terminal building; the creation of an event and entertainment area; investment into improving the current retail facilities; and the design and construction of new food and beverage facilities. It will integrate the port into Bay Street and downtown Nassau, with the expectation that it will act as a catalyst for the wider development of the downtown area. NCP is expected to complete the construction in 24 months.
Following the transformation of Nassau Cruise Port, the new waterfront is envisioned to be an attraction in its own right. The port will become a modern, world-class destination with large open spaces, as well as sufficient shaded areas to enable visitor comfort while being attentive to special needs, elderly passengers and children.
The project will feature improved transportation connections, traffic flow and signage, and will include an intermodal area for bus stops, taxis and parking. The new terminal will also include electric trams to transport passengers from ships to the terminal.
The new retail area will offer a great shopping experience to cruise passengers with the ability to experience Bahamian culture by providing retail space for local artisans and farmers. Underpinning the whole development will be key environmental stewardship considerations.
GPH Chairman and Co-Founder Mehmet Kutman said: "I am delighted that Nassau Cruise Port Ltd has signed a port operation and lease agreement for Prince George Wharf at Nassau Cruise Port. This is a truly historic moment for Global Ports Holding, building on our track record of investment in the Caribbean region. "
GPH CEO, Emre Sayin, said: "We are excited to apply our best practice model to develop the cruise offer in Nassau. Nassau will now become the biggest cruise port in our portfolio, increasing our passenger volumes by 50%. The GPH team very much looks forward to working with our partners, the cruise lines and the people of the Bahamas to reinvigorate the iconic cruise port and to make Nassau a great experience.”
Genting Cruise Lines announces the name of Dream Cruises' first 208,000 gross ton newbuild
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 28 August 2019 28 August 2019
Genting Cruise Lines today officially announced the name of her first 208,000 gross ton Global Class ship at IBTM China, the nation’s largest business travel and MICE show, in Beijing. Building on the successful debuts of Genting Dream, World Dream and Explorer Dream, the Global Class vessel -- Global Dream will enter into service in early 2021 to invite even more Asian travellers to sail globally on inspiring voyages on board the largest cruise ship to homeport in the Asia Pacific.
This event also provided guests the chance to experience an exclusive sneak preview of Global Dream through a specially constructed, full-scale smart show cabin on display during the event as well as to officially launch of the Chinese edition of “The Berlitz Cruising and Cruise Ships Guide” - the “bible” of the cruise industry.
Among the guests representing government, travel agents and business partners, notable attendees at the event included Guest of Honour, Mr. Song Yu, Director of the Beijing Municipal Bureau of Culture and Tourism, Mr. Cao Pengcheng, Deputy Director of the Beijing Municipal Bureau of Culture and Tourism, Mr. Zheng Weihang, Executive Vice President of China Cruise & Yacht Industry Association, who joined Mr. Colin Au, Group President of Genting Hong Kong and Mr. Kent Zhu Fu Ming, President of Genting Cruise Lines for this special occasion.
“Global Dream, the first Global Class ship of Dream Cruises, belongs to a new generation of cruise ships designed for this region featuring the most advanced technology and state-of-the-art facilities. Global Dream will deliver a cutting-edge cruising experience through Artificial Intelligence that will maximize both convenience and speed for our guests on board,” said Mr. Kent Zhu. “To balance the new with the traditional, our guests will also be able to enjoy an authentic Asian experience and our signature heartfelt Asian hospitality on Global Dream, developed through the Genting Group’s over 50 years of experience in the Asian hospitality industry.
During the event, guests were treated to an exclusive sneak preview of Global Dream with the unveiling of a specially constructed balcony show cabin, built in Germany and shipped over for the occasion. Featuring 20 square metres of space, the luxurious Global Class cabins will be the industry’s most spacious staterooms, at approximately 15% larger than standard cabins found on most other cruise lines.
Designed for two guests, the staterooms can also accommodate up to four with a unique two bathroom design to allow several people to get ready at once and a sofa bed that easily unfolds to sleep two comfortably. A thoughtful touch is a privacy curtain that can be closed to divide the room into separate seating and sleeping areas, making the cabins suitable for families and group travellers.
State-of-the-art technology will include Bluetooth locks and a new smart system allowing passengers to control different functions such as the LED mood lighting and climate control with a smartphone app, voice recognition or through a touch-screen control panel. Smart sensors will also be able to detect occupants in the cabin to automatically adjust the lights and temperature for better energy efficiency and triple vent air-conditioning outlets ensure even air distribution for maximum comfort.
The event also served as the official launch of the Chinese edition of the Berlitz Cruising and Cruise Guide 2019. Since the publication of its first edition in 1985, the Berlitz Cruising and Cruise Guide has been meticulously updated every year by cruise expert Douglas Ward, the Guide’s eminent author. The 34th edition of the Berlitz Cruising and Cruise Guide in 2019 contains unbiased reviews and fascinating details on almost 300 ocean-going cruise vessels and grades them on service, food, entertainment and facilities, using an internationally recognised rating system.
“The author is the most feared critic in the business,” said The Times, London and the Berlitz evaluations and ratings – created objectively and independently by the author and his editorial team – have set the standard for the cruise industry and is widely recognized as the bible of the industry.
Global Dream and her sister ship will enter into service in early 2021 and early 2022, joining the current Dream Cruises fleet of three vessels. Both Dream Cruises’ Genting Dream and World Dream have been recognized as two of the top 10 large cruise ships by the Berlitz Guide to Cruising 2019 and are the only two highest-rated cruise ships to be operating in Asia. Dream Cruises’ third ship, Explorer Dream, commenced service this year in Eastern and Northern China and has enjoyed record occupancies. At the end of the year, Explorer Dream will be repositioned to Australia and New Zealand for Asian sourced passengers who are looking to escape the cold northern winter to enjoy summer cruises in the southern hemisphere.
By 2022, Dream Cruises five ship fleet will be the youngest and most modern in the world. As the only global cruise line with all “Made in Germany” cruise ships, Dream Cruises’ fleet will feature the highest safety standards, build quality, speed, power and luxury finishes. Coupled with the Genting Group’s over 50 years of experience in the Asian hospitality industry, Dream Cruises will provide its Asian-sourced guests with the best food, entertainment and service standards on board the finest vessels sailing to all the popular destinations in the world.
The Global Class ships have been designed for the rapidly growing Asian cruise market, which will see the largest increase in the number of middle-income households in the world over the next decade. Innovative new features and facilities on board the ships will include the industry’s most spacious staterooms and most luxurious suites, the first-ever cruise ship theme park featuring the world’s longest roller coaster at sea and the largest cinema at sea with eight theatres to meet the leisure and entertainment needs of travellers and MICE guests. Zouk, the 3rd best club in the world, will also have a presence on Global Dream while Dream Avenue will provide guests with a multi-purpose outdoor leisure and recreational space. The ship will also be equipped with voice and facial recognition technology and self-guided mobile assistants to usher in the future of cruising.
Accommodating up to 9,000 passengers and with lower berth capacity of 4,700 passengers, Global Dream will be the largest cruise ships in the world by passenger capacity and brings affordable, high-end cruising to a wide range of passengers with 2,350 cabins consisting of a variety of categories including villas, penthouses, suites, themed suites, balcony cabins and inside cabins. Global Dream will also feature Dream Cruises’ signature 151-suite luxury “ship-within-a-ship’ concept, “The Palace”.
“Dream Cruises is excited to begin a new chapter in its story when Global Dream begins her journey to take Asian travellers around the world on grand voyages to Australia, New Zealand, the Baltic Sea and the Mediterranean in the future,” added Mr. Zhu. “We invite everyone to come on board to experience our innovative facilities, thoughtful amenities, impeccable service, authentic Chinese cuisine and the largest variety of Asian and International dining at sea.”
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