New Cruise Ships Start Build in Germany
Genting Hong Kong and its Hong Kong–German shipbuilding group, MV Werften, announced a new Universal Class of cruise ships targeted at customers outside of Genting's cruise brand portfolio of Dream, Crystal and Star.The keel-laying of the second 208,000 gross ton Global Class ship for Dream Cruises took place December 10 at MV WERFTEN in Rostock.The midship section of the Global Class ship is being produced in Rostock. The transfer of the first 160,000 gross ton midship section…
Genting Cuts Steel for Dream Cruises at Werften
Cruise operator Genting Hong Kong (GHK) said that its unit Dream Cruises has launched the construction of the second Global Class cruise ship at German shipbuilder MV Werften in Rostock-Warnemünde.“Production of Dream Cruises’ second Global Class ship commenced at MV Werften in Rostock-Warnemünde today, almost exactly a year after the keel laying of the flagship of the series," said Genting Hong Kong’s Chairman and CEO Tan Sri Lim Kok Thay while initiating at the press of a button the first steel cutting for the 342m long…
Dream Cruises Wins $2.9Bln from KfW IPEX-Bank
KfW IPEX-Bank, leading a consortium consisting of six international banks, is structuring the financing of two cruise ships for Genting Hong Kong Ltd. and its brand Dream Cruises.The Global Class I and II ships are currently being built in the three shipyards of MV Werften located on the Baltic Coast in the German federal state of Mecklenburg-Western Pomerania.The financing package comprises around EUR 2.6 billion with a total investment volume of just under EUR 3.1 billion.The…
Genting HK Sells Stake in Dream Cruises
Genting Hong Kong, a member of the Malaysian Genting Group, has reached an agreement to sell a 35% stake in global cruise ship company Dream Cruises to Canada’s TPG Darting, which is owned by TPG Capital Asia and Growth Funds.The company said the deal would strengthen its balance sheet as well as its ability to continue to expand its fleet in the cruise industry.The consideration for the 35% equity interest is US$489 million, valuing Dream Cruises total equity at US$1,397 million. With assumption of net debt of US$1,871 million, the enterprise value of the transaction is US$3,268 million.
Royal Approval for Bolidt Cruise Contract
The installation of decking solutions from Dutch company Bolidt aboard one of the largest cruise ships ever to be built in Germany has received a royal seal of approval, after King Willem-Alexander and Queen Maxima of the Netherlands witnessed a contract signing at the Rostock facilities of yard group MV Werften. The agreement, formalized during a trade delegation visit, provides for Bolidt to supply a total of 17,000m2 of its innovative synthetic systems to the first Global class cruise ship for Hong Kong-based Genting Group’s Dream Cruises…
Dream Cruises Welcomes Third Ship
Dream Cruises, a luxury cruise line owned by Genting and based in China welcome “Explorer Dream” in Shanghai as the third ship in its Dream Cruises fleet.Dream Cruises held the christening ceremony for the former SuperStar Virgo at Shanghai Wusongkou International Cruise Terminal. Chinese designer Grace Chen served as the godmother and presented a fashion show with 18 models showcasing her 'Voyage' collection, walking a runway on the Palace Pool Deck."Formerly the “SuperStar Virgo” of sister brand Star Cruises…
Cruising: Small is Beautiful
Cruise shipping, at the intersection of maritime and hospitality industries, continues to be vibrant. The Cruise Lines International Association (CLIA), the industry’s major trade association, forecasts that the ocean cruise segment will draw 30 million passengers in 2019, up from 28.2 million in 2018. At the start of the decade, in 2010, the comparable count was 19.1 million passengers. CLIA members will have 272 vessels operating in 2019- with 18 ocean going vessels set to begin service.
New Ships, Passenger Records Pace Global Growth
The relentless increases in luxury ocean and river travel that has propelled the cruise industry in 2017 to new passenger records is a clear indication that 2018 and the next five years will see a new era in global travel. Even as the Cruise Lines International Association (CLIA) counted up the record number of global cruise passengers in 2017, CLIA member cruise lines are scheduled to debut 27 new ocean, river and specialty expedition ships this coming year. Among the most interesting of those ships are the two new Ponant ships…
MV WERFTEN Lays Foundation for Accommodation Center
MV WERFTEN, the shipyard group is constructing a special accommodation center for subcontractors and guests at the Alter Holzhafen in Wismar; visitors will be able to spend the night in cruise ship cabins. The new building, which comprises 104 rooms, is scheduled to open by winter 2018-2019. Wismar, March 6, 2018 | Today, MV WERFTEN celebrated the official start of construction on its very own accommodation facility – the MVW Alter Holzhafen Beherbergungsstätte – with a groundbreaking ceremony.
New CEO at the Helm of Crystal Cruises
Genting Hong Kong appointed travel industry veteran Tom Wolber as President and CEO of Crystal Cruises, effective September 15. Wolber brings to the role over three decades of experience in general management, operations, newbuild construction and business development. He joins Crystal most recently from the Walt Disney Company where he served in various executive roles for 28 years, 10 of which were with Disney Cruise Line where he served as Senior Vice President of Operations. Wolber helped transform Disney Cruise Line into a global cruise line.
MV WERFTEN Delivers Its First Newbuild
Shipbuilder MV WERFTEN has completed its first newbuild project, having today delivered Crystal Bach, the first of four new Rhine Class luxury river cruise vessels for Crystal River Cruises. Designed specifically for river cruising in Europe, the 135-meter-long and 11.4-meter-wide Crystal Bach will sail along the Rhine, Danube and Main Rivers through the Netherlands, Belgium, Germany and Switzerland, carrying up to 106 passengers in 55 large suites, all designed to be above the water line with horizontal sliding windows.
Indian Ports Register 6.79% Growth in Traffic
The twelve major ports under the Ministry of Shipping, India handled a record 647.43 MT of traffic in 2016-17, registering an annual growth rate of 6.79 percent, as against 4.32 percent last year. With this, these ports have out- performed private ports for the second consecutive year. The private ports have registered a traffic growth rate of 4 percent this year. The top position in cargo handling was retained by Kandla Port that handled 105.44 Million Tonnes of cargo, registering a growth of 5.39% over last year.
Berth and Billions: Cruise Business Powers European Yards
In a historically weak contracting environment the cruise sector has seen a strong level of newbuild ordering and investment in the year to date, says a research report by Clarkson. Cruise lines have continued to expand their fleets, with new markets such as China in their sights. While a number of yards have benefitted from this firm level of newbuilding activity, they have all been European and the region remains dominant in the cruise sector. In the first seven months of 2016…
Genting to Invest in Werften
Genting Hong Kong Ltd will invest 100 million euros in its German shipyard, MV Werften to focus on building new large ships. The three shipyards in the German State of Mecklenburg-Vorpommern bought this April would be named MV Werften, be managed in Wismar. The company will focus on eventually building three large cruise ships a year. Lloyd Werft, located in Bremerhaven and bought last September, will focus on its prior business of repairs, conversion and building of megayachts. MV Werften has covered docks, fabrication halls and painting shops, but will be upgraded in the near future.
Genting HK Orders 10 Cruise Ships Worth $4 bln
Genting Hong Kong, a unit of Malaysia's gaming giant Genting, is building 10 cruise ships worth 3.5 billion euros ($4 billion) in anticipation of higher demand from the Chinese market. Genting has signed an order for 10 ships with the Lloyd Werft Group, comprising two mega cruise ships for Star Cruises and eight vessels for Crystal Cruises. "We are focused on delivering a world-class vacation experience for Chinese cruise passengers," said Genting and Genting Hong Kong Chairman Lim Kok Thay.
Genting Completes Purchase of 3 shipyards
Genting Hong Kong, announced the completion of the acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany for the consideration of 230.6 million Euros. The deal will give Genting Hong Kong the core expertise, manpower, fabrication capacity and covered drydocks to build a global cruise fleet for its three brands - Crystal Cruises, The World Most Awarded Luxury Cruise Line ; Dream Cruises, Asia’s Most Luxury Cruise Line; and, Star Cruises, Asia’s Leading Cruise Line.
Genting Hong Kong Acquires Nordic Yards
Cruise ship operator Genting Hong Kong Ltd is buying three shipyards in Wismar, Warnemünde and Stralsund respectively owned by German shipbuilding company Nordic Yards for $358 million to further enable its presence in the sector. The purchase from Nordic Yard is expected to be funded by internal resources of the group, it said in a filing to the Hong Kong Stock Exchange. The purchase of the three shipyards, along with Lloyd Werft last year, enables Genting Hong Kong to realize its global cruise ships fleet strategy over the next decade for its three brands - Crystal…
Shipyard Takeover in Northern Germany
An investor has been found in Malaysia’s Genting Group to enable the continued existence of the three shipyards in Wismar, Rostock and Stralsund. The takeover contract was signed in Hamburg on Tuesday this week. In the weeks following the conclusion of the applicable checks by the authorities, the takeover will become final and business operations will be transferred to the Genting Group. At the start of the year Genting, a major cooperation with worldwide operations, acquired all the shares in Bremerhaven’s Lloyd Werft. The result is a group consisting of four shipyards in Northern Germany.
South Korea Okays Casinos on Cruise Ships
South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper. South Korean cruise vessels voyaging overseas will be able to operate casinos on board – but casino admission will be only for foreign passengers from as early as next year. “The ministry is in no talks to push for admission of Koreans to [such] casinos,” said Han Dong-soo, an official at the Ministry of Oceans and Fisheries, as quoted in comments to the Korea Herald newspaper. The ministry has been taking the lead on the casino cruises initiative.
Crystal Cruises Plans for Expansion
Crystal Cruises announced an expansion plan under new owners Genting Hong Kong that includes three 1,000-passenger vessels, its first new ships in decades. Plus, Crystal will expand into adventure, yacht and river cruising, and luxury jet trips. The three Crystal Exclusive Class ships will be about the same size as the 20-year-old Crystal Symphony and the slightly larger 2003-built Crystal Serenity. The line has signed a letter of intent with Lloyd Werft to build the ocean ships, which will have an unprecedented space ratio of 100 gross tons of space per guest, Crystal said.
South Korean Okays Casinos in Cruise Ship
South Korea plans to enable its citizens and foreign tourists to wager on new cruise ship services that will serve ports around the country, reports the Korea Joongang Daily newspaper. Some major overseas cruise companies – such as Genting Hong Kong Ltd’s Star Cruises – operate shipboard casinos that only open once the vessel is in international waters. The plans also include allowing local residents to use casinos on cruise ships. The National Assembly passed the Cruise Act in January to open casinos on cruise ships carrying the Korean national flag for foreign passengers only…
Sembcorp Marine Q4 Net Profit Up 9.2%
(Reuters) Singapore's Sembcorp Marine Ltd, one of the largest offshore drilling rig producers in the world, said its net profit in the fourth quarter rose 9.2 percent as higher operating profit offset lower contributions from associates and joint ventures. Sembcorp Marine, which is the world's second-largest jackup rig producer after crosstown rival Keppel Corporation Ltd , posted a fourth-quarter net profit of S$182.4 million ($143.89 million). Its full-year net profit rose 3.2 percent to S$555.7 million, above a mean forecast of 23 analysts of S$528.50 million.
Cruise With Confidence: Cruise Lines Prosper Despite Troubles
Cruise Lines shrug off tragedy, bad publicity, new regulations and a weak economy to post impressive growth. In the year since the Costa Concordia tragedy, the cruise industry has seen a raft of new regulatory initiatives; in part developed in conjunction with industry associations. Harmonization of multiple regimes is the new mantra for industry stake-holders. In late December, the Florida-based Cruise Line Industry Association (CLIA) announced a tie-up which will result in one worldwide voice for the industry.
SS United States Faces Scrapping
According to the SS United States Conservancy awareness campaign, the America’s national flagship, the SS United States, is in imminent danger of being bought by scrappers. This great vessel, which still holds the trans-Atlantic speed record, may soon be destroyed. Bids for purchase of the ship by scrappers are being collected by NCL this month. The current owners of the vessel, Genting Hong Kong (formerly Star Cruises Limited), through its subsidiary, Norwegian Cruise Line (NCL), listed the vessel for sale in February 2009 but have not announced a purchaser to date.