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» Cruise Talk   » Ocean Liners and Classic Cruise Ships   » TRM Bidding for the Norway

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Author Topic: TRM Bidding for the Norway
Malcolm @ cruisepage
Cruise Director
Member # 301

posted 12-10-2001 02:45 PM      Profile for Malcolm @ cruisepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
From the S/S Norway Preservation Foundation:

FRENCH TMR BIDDING FOR NORWAY

Second hand reports over the last two months indicate the French travel company TMR is making a bid to buy Norway. TMR is the
organization that chartered the ship for a series of French cruises following her crossing in September. The group had
successfully chartered the ship on previous occasions in the past.

While the Foundation has received no information from TMR or NCL, Internet reports are citing French newspaper articles
as their source. These articles allegedly quote a vice president of TMR who reportedly claims to have presented a $50 million
offer to NCL last month. Rumors are the offer was countered with a $100 million asking. The unconfirmed appraised value for the Norway has been placed at $180 million.

TITANIC HAPPENING

As you probably know, this coming April marks the 90th Anniversary of Titanic's Maiden Voyage. April 14 falls on a Sunday this year, so we are encouraging members to investigate sailing on Norway that week.

It was our desire to create a sea-going Ocean Liner Convention around this cruise, but time is running short. If any members would like totake on the task of trying to organize such an event,please contact us.

********************************************

The S/S Norway Preservation Foundation http://ss-norway.com

****************************************


Posts: 19210 | From: Essex (Just Outside London) | Registered: A Long Time Ago!  |  IP: Logged
nzmike
First Class Passenger
Member # 1308

posted 12-10-2001 07:02 PM      Profile for nzmike   Email nzmike   Send New Private Message      Edit/Delete Post  Reply With Quote 
I am surprised to see that Norways appraised value is as high as $180m. Given her limitations (deep draft, high fuel, manning and maintenance costs) I would have expected it to be less. I would have anticipated scrap value to be $20-$30m. Any comments from anyone?
Posts: 186 | From: Auckland, New Zealand | Registered: May 2000  |  IP: Logged
Pollysmom
First Class Passenger
Member # 2376

posted 12-10-2001 08:37 PM      Profile for Pollysmom   Author's Homepage   Email Pollysmom   Send New Private Message      Edit/Delete Post  Reply With Quote 
Malcolm,
Take your time going to see the Norway In Miami.

She will be there 'at least until the evening of the 13th'. Why do I know this?

Because I was just told not to show up for the first two one-night cruises!

Ain't that GRAND!!!!!!!

pollysmom


Posts: 21 | From: New England | Registered: Sep 2001  |  IP: Logged
Tim in Fort Lauderdale
First Class Passenger
Member # 953

posted 12-10-2001 08:49 PM      Profile for Tim in Fort Lauderdale     Send New Private Message      Edit/Delete Post  Reply With Quote 
I dont think anyone sane would appraise the Norway at $180 million. The last appraisal I saw (1999) listed her at $85 million; down from $112 million in 1996.

In today's market; she wouldn't fetch $25 million. I'd say the $180 million is what Star would LIKE to get for her.

Tim


Posts: 1468 | From: Fort Lauderdale, FL | Registered: Dec 1999  |  IP: Logged
Aussie1
First Class Passenger
Member # 25

posted 12-11-2001 07:22 AM      Profile for Aussie1   Email Aussie1   Send New Private Message      Edit/Delete Post  Reply With Quote 
The big question with NORWAY is whether she can get through the next round of SOLAS regulations (in 2010 I think.) If she can't without millions spent on her then she is not going to command any more than $50 million at best.
Posts: 493 | From: Sydney,NSW, Australia | Registered: Sep 99  |  IP: Logged
Beezo
First Class Passenger
Member # 1505

posted 12-11-2001 05:34 PM      Profile for Beezo   Author's Homepage   Email Beezo   Send New Private Message      Edit/Delete Post  Reply With Quote 
I just checked NCL's website and it says she will be with them through April 2003

Brian


Posts: 865 | From: Massachusetts, USA | Registered: Aug 2000  |  IP: Logged
Malcolm @ cruisepage
Cruise Director
Member # 301

posted 12-18-2001 10:21 AM      Profile for Malcolm @ cruisepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
Originally posted by Beezo:
I just checked NCL's website and it says she will be with them through April 2003

Brian, Just because brochures have been published and a web site updated, it does not mean that NCL are committed to the published itineraries!

Cruise Lines, including NCL have withdrawn ships and refunded the customers money on many occasions, before!

It's unfair, but it does happen!


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

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