quote:

---

NCL orders two 150,000gt ships from Aker Yards
07/09/2006
NCL Corp. has signed a contract with Aker Yards to build two 150,000gt cruise vessels with an option for a third. The total value of the two vessels is €1.4bn and the ships will be built at Aker’s recently acquired yard in Saint Nazaire for delivery in 2009 and 2010.
This is the first contract announced since Aker Yards became the owner of the yard in Saint Nazaire. The vessels will carry up to 6,400 people including crew, and have 2,100 passenger cabins for 4,200 lower berths. All outside staterooms will have private balconies. In total, the ship will offer more than 1,470 balcony staterooms and suites.

The ships will be 325mtr long and 40mtr wide. Facilities, restaurants and entertainment will be in line with NCL’s Freestyle Cruising concept. There is an option for a third sister for delivery in the first quarter of 2011.

Yrjö Julin, president of Cruise & Ferries, Aker Yards, comments: ‘We are very proud to be able to contribute to the bold expansion of NCL's fleet with these new type of cruise ships. The contract was made possible by using best practices from our French and Finnish yards, which currently are undergoing a rigorous integration process. Without the envisaged synergies, this contract would not have been attainable for either of the yards individually.’

The contract between NCL and Aker Yards S.A. is subject to financing, completion of the design specification and Star Cruises shareholder approval.

---

Wow...NCL finally join the mega-ship club! Exciting news for big ship fans or another nail in the coffin for those that co not thing 'big is better'.

[ 09-07-2006: Message edited by: Malcolm @ cruisepage ]

[ 09-07-2006: Message edited by: Waynaro ]

quote:

---

Originally posted by J.S.S.Normandie:
More? Oh god why.

---

Because some cruise lines plan to keep up with the 21st Century.

Whereas some CT correspondents have no desire to.

[ 09-07-2006: Message edited by: greybeard ]

How about name ideas?

Norwegian Song
Norwegian Isle
Norwegian Cloud
Norwegian Pride

Here is that 90,000gt one:

quote:

---

Originally posted by Thad:
Sounds like they will be pretty bulky ships, at 1066 feet, they are about 26 feet shorter than the new MSC ships, but are to be close to 20,000gt larger. I am surprised they are not being built on the same hull platform, ut maybe it is very similar. I too am looking forward to images of these ships, I hope they are similar to the 90,000gt ship Aker designed previously for NCL, just larger. That ship was in my opinion pretty attractive.

Here is that 90,000gt one:

---

quote:

---

Originally posted by Joe1690:
The space ratio double occupancy will be approximately 36 versus the Dawn's 40 and the Jewel about 38.

---

There is of course an inversely proportion link between fares a space ratios. In other words generally the more passengers you pack on to a ship, the cheaper the fares you can offer. Maybe NCL simply plan to undercut the competition. Am I right in thinking that they already tend to compete on price (not NCL America) rather than quality?

quote:

---

Originally posted by mike sa:
While Princess have consistantly said that they are happy with the Grand Class size of ship and have no plans to build bigger it is only a matter of time before they to go bigger in order to compete for the great American Mid West dollar, twice they held the title of owning the biggest so perhaps we can expect them to try again ? Carnival have always wanted bigger ships but claimed they were simply waiting for a favourable exchange rate, they will no doubt order at some stage but will it be with Fincantieri who have never built anything bigger than the Crown Princess ? NCLs debt gearing for their new ships makes them vunerable to a take over as they simply do not have the funds available to fight one off, the new tonnage also makes them attractive as new orders will likely cost more and the build slots are less available, Carnival have the funds but would probably not succeed from a competition point of view, RCI have stated they wish to improve their balance sheet - taking on NCL would hardly improve that given the amount of debt to extra income, MSC would be the only player who would have the funds and face no regulatory issues.

---

NCL's debt in no way, shape or form makes them vulnerable to a takeover. Remember, NCL is owned by Star and Star themselves owned by the mammoth Genting Berhard.

Star and NCL's debt is also structured to prevent any type of hostile takeover attempt as all of the debt carries covenants that require Star to retain majority ownership and control. If there is any material change in ownership, the debt is revoked and must satisfied on demand.

This precludes any other entity from wresting control withut the express consent of Star and the banks as they would need debt facilities in excess of $5 Billion USD in place.

quote:

---

Originally posted by mike sa:
And Standard & Poor today increased their risk indicator for Star to BB quoting an increased financial risk due to NCL increasing their debt to finance their 2 new builds as reported in the Business section of The Strait Times.

---

The newbuilds are subject to completion of the design and specification, shareholder approval & financing. So if the above and specifically the financing has not yet been agreed, how can S&P state the above? Do S&P already know how and where the funds are coming from?