Cruise Talk: NCL - Three Ships For Sale?

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Author

Topic: NCL - Three Ships For Sale?

dougnewman
First Class Passenger
Member # 11349

posted 04-17-2008 08:53 PM

I'm not sure if western-style cruising will ever catch on in Asia. Obviously it does appeal to a small segment of the population, but whether it will ever go mass-market as it has in the west is doubtful. The whole holiday culture in Asia seems very different from that in the west.

And Star is at a big disadvantage on "destination cruises" in Asia for westerners as many western cruise lines are in this market now themselves. Star has a following in Australia but in Europe and the Americas it is basically unknown. How many westerners - or their travel agents - are going to book Star rather than Princess, Costa, Royal Caribbean and so on?

I think Star is probably best sticking to gambling cruises. As long as it fills the ships it is pretty much a given you will make money there as long as the ships are full, even if the cabins are being away for free.

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

mike sa
First Class Passenger
Member # 5957

posted 04-18-2008 02:37 AM

Pullmantur have withdrawn from the deal and will not be purchasing POA. They offered $310,000,000 and Star wanted $320. So collect your pennies, wonder who might want her ? Fred Olsen but they would have to refit extensively, Ocean Village, Aida, P&O Australia, MSC ?

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

Waynaro
First Class Passenger
Member # 3484

posted 04-18-2008 03:44 AM

quote:
Originally posted by mike sa:
Pullmantur have withdrawn from the deal and will not be purchasing POA. They offered $310,000,000 and Star wanted $320. So collect your pennies, wonder who might want her ? Fred Olsen but they would have to refit extensively, Ocean Village, Aida, P&O Australia, MSC ?

Besides RCI, I can't think of anyone that has the money or interest in picking up the PO ALOHA. Carnival has many not-so-modern tonnages in different brands they can dump onto Ocean Village and P&O Australia.

MSC will be growing by newbuilds, and I don't think this ship will fit in with Fred Olsen's fleet. Star should either sell it to Pullmantur for $310mill or place her Down Under.

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

bulbousbow
First Class Passenger
Member # 4440

posted 04-18-2008 06:25 AM

quote:
Waynaro wrote:
MSC will be growing by newbuilds...

Would be interesting if they did and sent her to cruise Australasia or even the Far East, but I agree with you that MSC will only expand by newbuilds now and not through secondhand acquisitions.

quote:
...Star should either sell it to Pullmantur for $310mill or place her Down Under.

Either way I agree. Would be good to see another non-Carnival brand down here for competition.

******

Cheers

Posts: 6866 | From: Adelaide, Australia | Registered: Feb 2004 | IP: Logged

Beezo
First Class Passenger
Member # 1505

posted 04-18-2008 06:51 AM

I completely agree. I have been saying for years that it would be a good idea for them to finally base a ship out of Australia again...possibly resurrecting Norwegian Capricorn Line or a new NCL Australia. This ship would be a great one to pioneer the itineraries as she is modern (rather than use Majesty, etc.) and features balconies.

Brian

Posts: 865 | From: Massachusetts, USA | Registered: Aug 2000 | IP: Logged

Corey H.
First Class Passenger
Member # 5202

posted 04-20-2008 11:56 PM

Any updated news on this topic?

Posts: 172 | From: TAMPA Florida USA | Registered: Nov 2004 | IP: Logged

desirod7
First Class Passenger
Member # 1626

posted 04-21-2008 12:37 PM

quote:
Originally posted by Corey H.:
Any updated news on this topic?

Corey,

Are you not associated with the Alex Naughton and Rueben Goossens Save a Liner Campaign?

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

Andy
First Class Passenger
Member # 3856

posted 04-23-2008 08:02 AM

Press Release from Star Cruises:

----------------------------------------------------

STAR CRUISES SELLS NORWEGIAN DREAM AND NORWEGIAN MAJESTY
TO STRENGTHEN CAPITAL STRUCTURE

Star Cruises today announced another step to further strengthen the Group’s capital structure. The Group has completed the sale of two ships, Norwegian Dream and Norwegian Majesty to the Cyprus Louis Group for US$218 million and US$162 million respectively. The two ships will be chartered back from the new owner to complete their announced scheduled itineraries in November 2008 for Norwegian Dream and December 2009 for Norwegian Majesty.

“The sale of the 2 ships will improve on the Star Cruises Group’s capital structure following on the completion of Apollo’s investment in Norwegian Cruise Line (“NCL”) in January 2008. It is expected that there will be net savings in interest expenses and the additional cash flow will provide opportunities arising in Asia for Star Cruises like our hotel and casino project in the Philippines announced on 2 April 2008.” said Mr. David Chua, President of Star Cruises.

“This transaction will also speed up the optimization plan for the upgrade of our existing fleet in Asia and the international fleet in America and Europe so as to realize our mission and promise for delivering the best quality cruising experience to our cruisers by continuously upgrading our hardware and software. In fact, we have two new ships currently under construction and will deliver 10,800 more lower berths by completion in 2010. Star Cruises will continue our investment in NCL and explore opportunities for our international fleet,” added Mr. Chua.

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

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

posted 04-23-2008 09:45 AM

Email Neil - Ex P & O & PRINCESS CRUISES

With Louis Cruises spending US $ 380 million for these two ships, which are about sixteen years old, I wonder which of their older ships will be withdrawn from service next.

Neil ( Bob )

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

mike sa
First Class Passenger
Member # 5957

posted 04-23-2008 10:23 AM

That depends if they sink anymore !

I can't see Star staying in the cruise business, their ambitions have been abandonned - how long before they quit NCL and I think not long before they sell Star.

I recall a situation where the owner of NCL sold it for $1 to enable him to get licences to run casinos ashore (can't remember who it was now), perhaps Star will sell to focus on their casino business shoreside also.

Poor old NCL though, never seemed to find a n owner that was happy, first Ted Arison gets in trouble, Kloster lost interest, Royal Caribbean could not afford to take them over, now Star has not really turned out to be the best match, hopefully Apollo will be different - but how long will they keep them before an IPO ? That changes everything again. Who knows, maybe an independent NCL and RCI might still merge one day !! At least they will have the 2nd youngest fleet at sea from the end of this year - the youngest being Cunard ! - and who would have thought that 10 years ago !

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

Waynaro
First Class Passenger
Member # 3484

posted 04-23-2008 11:22 AM

quote:
Originally posted by mike sa:
That depends if they sink anymore !
I can't see Star staying in the cruise business, their ambitions have been abandonned - how long before they quit NCL and I think not long before they sell Star.

I agree with you Mike. The press release mentioned the cash from the sale will fund their hotel and casino project in the Philippines, NOT into Star Cruises.

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

rd77
First Class Passenger
Member # 2117

posted 04-24-2008 08:27 AM

Hi Bob,

In fact, two ships have just been withdrawn: the PRINCESA MARISSA and the classic SERENADE, with the latter rumoured to have been sold for scrap already...

IVORY/AUSONIA is next, once they find another replacement, and what's in store for THE EMERALD is anyone's guess...

quote:
Originally posted by Neil Whitmore ( Bob ):
Hi
With Louis Cruises spending US $ 380 million for these two ships, which are about sixteen years old, I wonder which of their older ships will be withdrawn from service next.
Neil ( Bob )

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

mike sa
First Class Passenger
Member # 5957

posted 04-26-2008 03:41 AM

As Emerald is leaving Thomson at the end of this year it is certain that one of these will go to Thomson on charter.

I would have thought that Thomson would also get rid of Calypso and substitute Celebration or Spirit as their adults only ship thus allowing them to take both from Louis ? Thus giving them a relatively modern fleet with lower costs and greater capacity. If so this woul have made it easy for Louis to get the finance.

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

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

posted 04-26-2008 04:20 AM

If Thompsons Cruises want another ship to replace the Emerald, the only new ship available to charter from Louis Cruises with be the ex Norwegian Dream as they take her over in November 2008.

The Norwegian Majesty is still on charter to NCL until the end of 2009.

Neil ( Bob )

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

adriana & norway lover
First Class Passenger
Member # 7184

posted 04-26-2008 06:44 AM

THE EMERALD leaves Thomson's fleet in October, 2009, so I think her replacement ship is NORWEGIAN MAJESTY beacause she arrives in Louis' fleet in Décembrer 2009.

Posts: 199 | From: Caen, France | Registered: Aug 2006 | IP: Logged

r.fiebig
First Class Passenger
Member # 5240

posted 04-26-2008 08:34 AM

quote:
Originally posted by adriana & norway lover:
THE EMERALD leaves Thomson's fleet in October, 2009

No, she doesn't. She is scheduled to leave in October, 2008.

Best,

Raoul

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

dougnewman
First Class Passenger
Member # 11349

posted 04-26-2008 02:55 PM

Based on THE EMERALD's retirement date, I would not be surprised to see NORWEGIAN DREAM become a Thomson ship. She would certainly be a big step up in size and age. Actually she is a rather nice ship and I am sure they would do well with her.

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

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

posted 04-26-2008 06:00 PM

better than ncl anyway

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

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

posted 04-26-2008 06:36 PM

With Louis Cruises arranging the staffing for their ship I would also expect that service on board would be excellent.

Neil ( Bob )

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

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