Cruise Talk: A no go for the Norwegian Dream to Louis Cruises

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»	Cruise Talk » Cruise Ships » A no go for the Norwegian Dream to Louis Cruises (Page 1)

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Topic: A no go for the Norwegian Dream to Louis Cruises

Westerdam
First Class Passenger
Member # 2093

posted 09-30-2008 12:37 AM

Star Cruises Ltd. today served notice to Louis Cruise Lines and Marzio Shipholding for their failure to take delivery of Norwegian Dream. The parties signed a memorandum of agreement in April for the ship’s sale at the price of $218m.
The sale was not completed on Monday, the scheduled date, with Star Cruises serving notice on the buyers shortly after midnight Tuesday, London time, to officially bring the agreement to an end.

Star Cruises said it and Norwegian Dream shipowning subsidiary Ocean Dream are taking legal advice in relation to the enforcement of their rights against the buyers.

No immediate comment was available from Louis. Seatrade Insider understands, but was unable to confirm, that expected charter business for Norwegian Dream did not materialize for Louis
At the same time as it entered into the agreement for Norwegian Dream, Star Cruises also signed an agreement to sell Norwegian Majesty to Louis for $162m, a deal that was completed on July 29.

Both Norwegian Dream and Norwegian Majesty are currently sailing for Norwegian Cruise Line.

In a notice to the Hong Kong Stock Exchange, Star Cruises said that ending the Norwegian Dream deal is not expected to have a material impact on its business or financial position as a whole.

Star Cruises added that it is continuing to review its fleet portfolio and may enter into appropriate arrangements including, among others, ‘such acquisition, disposal, deployment and/or charter arrangements to meet the business development and financial requirements of the Group from time to time.’

Source: Seatrade Insider

I wonder what happened? I suppose the loans for financing the purchace did not come through along with the supposed charter to Thomson. Looks like the Clipper Group may get a second chance.

Nathan

Posts: 329 | From: Waukegan, Illinois | Registered: Jun 2001 | IP: Logged

ahrpd
First Class Passenger
Member # 6229

posted 09-30-2008 02:25 AM

I think Louis may have also been considering how to fill such a large ship in the present and forseeable financial climate. Even taking into account the disposal of PRINCESS MARISSA and SERENADE and the possible (not yet confirmed) sale of SS IVORY, NORWEGIAN DREAM would have more than made up the number of berths available to Louis, which they may now see as difficult to fill.

Thomson have only four ships on their inventory next year (three of them provided by Louis). They appear to have been unwilling to trade up the small and elderly THE CALYPSO for the DREAM, in order to keep the number of berths available for their anticipated needs following the credit crunch.

With Thomson not seemingly prepared to take DREAM in 2009, what could Louis have done with the ship? She would have probably been laid up for the year or placed on a 3 and 4 day itinerary out of Piraeus - but presumably at the expense of AQUAMARINE and THE AEGEAN PEARL (which has been very nicely upgraded last winter). How would they have been otherwise employed?

Tony

Posts: 948 | From: gibraltar | Registered: Feb 2006 | IP: Logged

mike sa
First Class Passenger
Member # 5957

posted 09-30-2008 02:34 AM

Not good news for NCL either, they will no doubt be lumbered with her for longer when hat they need to do is reduce costs etc.

Posts: 2272 | From: Durban, South Africa | Registered: Sep 2005 | IP: Logged

Waynaro
First Class Passenger
Member # 3484

posted 09-30-2008 03:20 AM

If Star Cruises is able to dump the STAR PISCES and SUPERSTAR GEMINI, perhaps they will take her.

Posts: 6108 | From: Vallejo,CA : California Maritime Academy!!! | Registered: Nov 2002 | IP: Logged

mike sa
First Class Passenger
Member # 5957

posted 09-30-2008 09:52 AM

Louis says there are technical faults with the ship and have therefore cancelled the deal.

Posts: 2272 | From: Durban, South Africa | Registered: Sep 2005 | IP: Logged

rd77
First Class Passenger
Member # 2117

posted 09-30-2008 10:42 AM

hmm, word on the street is that Thomson didn't want the ship and that that is the reason why Louis didn't carry on with the purchase of the ship...

Posts: 1037 | From: The Hague, Netherlands | Registered: Jun 2001 | IP: Logged

desirod7
First Class Passenger
Member # 1626

posted 09-30-2008 02:15 PM

I had heard from a reliable source that the Norwegain Dream is in bad condition, poorly engineered, and corners cut when built.

It is the automotive equivalent to an early 1980's Austin Marina or Chevrolet Cavelier.

Posts: 5727 | From: Philadelphia, Pa [home of the SS United States] | Registered: Oct 2000 | IP: Logged

Malcolm @ cruisepage
Cruise Director
Member # 301

posted 09-30-2008 04:03 PM

The SS United States is still available!

Posts: 19210 | From: Essex (Just Outside London) | Registered: A Long Time Ago! | IP: Logged

SalamisFiloxenia (Tom...)
First Class Passenger
Member # 6702

posted 09-30-2008 04:32 PM

quote:
Malcolm @ cruisepage: The SS United States is still available!

dont even go there!!

Posts: 338 | From: weston super mare | Registered: Jun 2006 | IP: Logged

Malcolm @ cruisepage
Cruise Director
Member # 301

posted 09-30-2008 05:16 PM

quote:
Originally posted by VanGogh (Tom...):
dont even go there!!

Or maybe Thomson would like an F3 hull going spare?

Posts: 19210 | From: Essex (Just Outside London) | Registered: A Long Time Ago! | IP: Logged

Lubber
First Class Passenger
Member # 13710

posted 09-30-2008 06:31 PM

quote:
Originally posted by desirod7:
I had heard from a reliable source that the Norwegain Dream is in bad condition, poorly engineered, and corners cut when built.

ND has had more than her share of collisions/allisions, too. To stretch your metaphor, think of a '92 Chevy Cavalier with a very checkered CARFAX history.

Posts: 241 | From: Land | Registered: Feb 2008 | IP: Logged

Andy
First Class Passenger
Member # 3856

posted 09-30-2008 09:20 PM

quote:
Originally posted by desirod7:
I had heard from a reliable source that the Norwegain Dream is in bad condition, poorly engineered, and corners cut when built.
It is the automotive equivalent to an early 1980's Austin Marina or Chevrolet Cavelier.

When Norwegian Wind was transferred to Star Cruises, it was said that her machinery was also in very bad condition. Not to mention, she keeps experiencing blackouts and engine breakdown after joining Star Cruises, that she could only sail on reduced speed and cancel destination cruises.

[ 09-30-2008: Message edited by: Andy ]

Posts: 581 | From: Hong Kong | Registered: May 2003 | IP: Logged

mike sa
First Class Passenger
Member # 5957

posted 10-01-2008 06:35 AM

Seems everything touched by NCL at the moment goes pear shaped. Jinx ?

Posts: 2272 | From: Durban, South Africa | Registered: Sep 2005 | IP: Logged

r.fiebig
First Class Passenger
Member # 5240

posted 10-01-2008 06:50 AM

...perhaps the "curse of the old lady"?

Best,

Raoul

Posts: 775 | From: Paderborn, Germany | Registered: Dec 2004 | IP: Logged

NicholasK
First Class Passenger
Member # 4621

posted 10-01-2008 08:58 AM

A source close to Louis cruise lines told me that Norwegian Dream was in really bad condition. That’s why the cancelled the whole deal for the Norwegian dream. Norwegian Majesty now will join Louis fleet by December 2009.

The same source also told me that they already found an alternative solution for the Norwegian Dream. Any ideas witch one will be? It should be more than 2000 capacity, and built over 90s.

Posts: 88 | From: Cyprus | Registered: Apr 2004 | IP: Logged

ahrpd
First Class Passenger
Member # 6229

posted 10-01-2008 09:07 AM

quote:
Originally posted by NicholasK:
A source close to Louis cruise lines told me that .....they already found an alternative solution for the Norwegian Dream. Any ideas witch one will be? It should be more than 2000 capacity, and built over 90s.

STAR PISCES (ex KALYPSO) perhaps? 1990-built and capacity for 2,192.

Tony

Posts: 948 | From: gibraltar | Registered: Feb 2006 | IP: Logged

Neil - Ex P & O & PRINCESS CRUISES
First Class Passenger
Member # 5641

posted 10-01-2008 11:24 AM

Email Neil - Ex P & O & PRINCESS CRUISES

It could be one of the Costa ships which is for sale !

Posts: 2355 | From: Dunstable, Bedfordshire. 30 miles north of London | Registered: May 2005 | IP: Logged

r.fiebig
First Class Passenger
Member # 5240

posted 10-01-2008 12:08 PM

With Louis' history of operating "Sea Diamond" and "Cristal", I suppose that "Star Pisces" would be an acceptable choice for them.

Best,

Raoul

Posts: 775 | From: Paderborn, Germany | Registered: Dec 2004 | IP: Logged

lasuvidaboy
First Class Passenger
Member # 4527

posted 10-01-2008 01:48 PM

I've been seeing ads in the L.A. Times for NCL cruises as well as hearing radio spots.

Their advertising company is doing a pretty good job here in Southern California getting their brand noticed.

Posts: 7654 | From: Hollywood Hills/L.A. | Registered: Mar 2004 | IP: Logged

dougnewman
First Class Passenger
Member # 11349

posted 10-01-2008 02:23 PM

quote:
Originally posted by NicholasK:
The same source also told me that they already found an alternative solution for the Norwegian Dream. Any ideas witch one will be? It should be more than 2000 capacity, and built over 90s.

If we're talking lower-berth capacity, NORWEGIAN SKY is the only ship I can think of. But she would probably cost $100m more than DREAM.

Posts: 2072 | From: Long Island, NY, USA | Registered: Sep 2007 | IP: Logged

Waynaro
First Class Passenger
Member # 3484

posted 10-09-2008 02:17 PM

On the Tug-barge website, NORWEGIAN DREAM is listed for sale at $220 million USD.

Posts: 6108 | From: Vallejo,CA : California Maritime Academy!!! | Registered: Nov 2002 | IP: Logged

ahrpd
First Class Passenger
Member # 6229

posted 10-09-2008 02:25 PM

quote:
Originally posted by Waynaro:
On the Tug-barge website, NORWEGIAN DREAM is listed for sale at $220 million USD.

$2m more than Louis were prepared to pay!

Tony

Posts: 948 | From: gibraltar | Registered: Feb 2006 | IP: Logged

dougnewman
First Class Passenger
Member # 11349

posted 10-09-2008 03:09 PM

quote:
Originally posted by Waynaro:
On the Tug-barge website, NORWEGIAN DREAM is listed for sale at $220 million USD.

I don't know who in their right mind would spend this much on that ship... For that matter I still can't believe Louis was prepared to spend that much (OK, $218m).

Posts: 2072 | From: Long Island, NY, USA | Registered: Sep 2007 | IP: Logged

Steve Read (sread)
First Class Passenger
Member # 788

posted 10-09-2008 04:34 PM

Anyone know what the other three ships mentioned on the same page of tug-barge might be?

1,700 PASSENGER NEWBUILDING CRUISE VESSEL AVAILABLE FOR LONG TERM CHARTER
DELIVERY PLANNED FOR EARLY 2010
BERLITZ 4 STAR RATING ANTICIPATED
FULL DETAILS (PRESENTLY AVAILABLE) TO NAMED, CHECKABLE CHARTERERS ONLY
OWNERS INTERESTED IN TIMECHARTERS FOR MINIMUM 5 YEAR PERIOD AND LONGER

1,500 PASSENGER CRUISE SHIP FOR SALE
DECKS 10
TRY EURO 80 MILLION.
DELIVERY BY ARRANGEMENT END DECEMBER 2008
FULL DETAILS AND PHOTOS TO NAMED BUYERS ONLY

1,550 PASSENGER CRUISE SHIP FOR SALE
DELIVERY NOVEMBER 2008

OWNERS WOULD CONSIDER PURCHASE NOW WITH BB BACK UNTIL DELIVERY DATE

PRICE USD 21 MILLION
SOLAS 2010 FITTED
SPECIFICATIONS AND PHOTOS TO NAMED BUYERS
EXCELLENT FOR CRUISE SHIP OR FLOATING HOTEL

Posts: 926 | From: Locksbottom, Kent, England | Registered: Jul 99 | IP: Logged

r.fiebig
First Class Passenger
Member # 5240

posted 10-09-2008 05:35 PM

Steve,

I guess the first one might be "Regent Sky". I have recently seen a new rendering of how she is expected to look once (or rather if?) she has been completed.

Best,

Raoul

Posts: 775 | From: Paderborn, Germany | Registered: Dec 2004 | IP: Logged

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