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Financing confirmed for Royal Caribbean's fourth Icon-class newbuild

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 31 May 2025 31 May 2025

Finnvera has reached a negotiated agreement on the terms of financing for the Icon 4 cruise ship. This allows Royal Caribbean Group to finalise the order. The project will bring the desired continuity to the Finnish shipbuilding industry, says Finnvera’s CEO Juuso Heinilä. The strategic importance of the cruise shipping and shipyard sector is growing due to geopolitical changes and security of supply factors.

The terms of the financing have been agreed in the financing negotiations, and the actual credit agreement will be signed later. In cruise ship orders, the role of the Export Credit Agency as a guarantor of the buyer's credit is typically essential, as the credit periods are long, and the value of the vessel orders are worth billions.

“We are pleased that an agreement has been reached in the financing negotiations and the vessel order for Meyer Turku shipyard is being confirmed. This is of enormous importance to the Finnish marine industry. Finland produces some of the largest and most advanced cruise ships in the world, and it is very important that the excellence continues and further develops here. The employment impact of the cruise shipping and shipyard sector as well as the indirect effects on the business life of the Turku region and the whole Finland are undeniable," says Juuso Heinilä, CEO of Finnvera.

Meyer Turku shipyard’s impact reflects widely on the subcontractor network in the maritime cluster and increases the value added and employment of the companies in the network. This is shown in a recent study of the shipyard's procurements.

The outlook for the cruise shipping and shipyard industry is positive

The share of the cruise shipping and shipyard industry is significant in Finnvera's exposure. At the end of March 2025, the industry accounted for approximately half of Finnvera's total liabilities of EUR 25.8 billion. The strategic importance of the ship and shipyard sector is growing due to transitions in the global economy, geopolitical changes and factors of security of supply, and the Finnish vessel and icebreaker expertise is once again at the centre of attention.

“The outlook for the shipping and shipyard industry has improved significantly. Demand is boosted globally by the strong development of cruise line businesses, investments in the defence sector, and the demand for governmental authorities’boats. At Finnvera, we work to ensure that the Finnish know-how from hundreds of years of shipbuilding can be exported sustainably to the world also in the future. In the case of luxury liners, the domestic value added is high and the subcontractor networks extend widely," Heinilä says.

The second Icon-class ship Star of the Seas recently conducted its sea trials in the Baltic Sea

Fincantieri and TUI Cruises celebrates the float-out of Mein Schiff Flow

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 30 May 2025 30 May 2025

Fincantieri and TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises, celebrated the launch of Mein Schiff Flow at the Monfalcone shipyard. The vessel is the second of two next-generation InTUItion class cruise ships, designed for dual-fuel operation (Liquefied Natural Gas – LNG and Marine Gas Oil – MGO). A sister ship to Mein Schiff Relax, delivered in February, the new unit is scheduled to enter service in mid-2026.

The launching ceremony was attended Daniele Fanara, Senior Vice President New Building and After Sales of the Fincantieri Merchant Ships Division, by Cristiano Bazzara, Director of the Monfalcone shipyard, and Wybcke Meier, CEO of TUI Cruises.

With approximately 160,000 gross tons, Mein Schiff Flow is based on a first-in-class project developed by Fincantieri enhancing the modernity and sustainability characteristics that TUI Cruises, a company with one of the most advanced fleets from an ecological point of view, is known for. Featuring an innovative product configuration, the project will place energy efficiency at its core, aiming to reduce operational consumption and minimize environmental impact, in compliance with the latest regulations. The ship will be able to use LNG and is future-proof with the ability to utilize low-emission fuels such as bio- or e-LNG, marking a significant step towards climate-neutral cruising.

Mein Schiff Flow will feature catalytic converters meeting Euro 6 standards, a steam turbine, using the residual heat from the diesel generators, as well as an electrical shore-power connection. All this will ensure almost emission-free operations while in port (about 40% of operating time). The unit will also be equipped with an innovative and highly efficient waste treatment system capable of transforming organic materials into recyclable components through a thermal process.

AmaWaterways promotes Catherine Powell as CEO

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 30 May 2025 30 May 2025

AmaWaterways, a leading luxury river cruise line, announced that the current CEO and co-founder Rudi Schreiner is transitioning to a new role as Chairman of the Board. President Catherine Powell will step up as the company’s Chief Executive Officer from July 1st with Schreiner continuing to support her in this new role.

Company co-founders Rudi Schreiner and Kristin Karst will remain on the AmaWaterways board and Karst will continue in her role as Global Brand Ambassador. “We are so excited about what we have been building — internationally with new markets, new passengers and, frankly, a whole new generation of river cruisers. I am delighted that we are investing in the kind of leadership Catherine brings to the company. It’s a real inflection point, and I couldn't be prouder,” said Schreiner.

“Rudi and I poured our hearts into building AmaWaterways — a company shaped by passion, innovation and strong personal connections. As we take this next step forward, we’re thrilled to welcome Catherine as CEO. Her global experience and leadership style reflect the values that have guided us from the beginning. I’m excited for the future and grateful to keep focusing on what I love most — nurturing the relationships with our travel partners, our guests and the local communities we visit, cultivating the shared success that comes from growing together,” said Karst

“This is a dynamic moment of both growth and transformation for AmaWaterways and for the river cruising industry writ large,” said Powell. “Rudi is an icon in the industry, whose pioneering vision has shaped river cruising. From the design of the ships to every detail of the experience on board and on shore, Rudi has touched the lives of all the guests who have sailed with us. I am honored to be taking the mantle from Rudi and steering this incredible company into its next exciting chapter building on his legacy.”

Powell was appointed President early this year, and brings an expansive view to the company, one that will continue to build on the evolution of AmaWaterways as a category pioneer and leader in this industry. AmaWaterways is widely recognized for its outstanding service both onboard and onshore.

“We extend our deepest appreciation for the remarkable vision and leadership that Rudi and Kristin have demonstrated in building AmaWaterways. Since the company’s inception in 2002, they have established AmaWaterways as a beloved and highly coveted brand within the river cruising industry. Looking ahead, we foresee significant growth opportunities. The company is strategically expanding into new destinations and markets while making substantial investments in technology, digital platforms, and elevated customer experiences. These initiatives will ensure that AmaWaterways remains well-positioned for long-term success in the evolving landscape of travel,” said Jennifer Reid, Director of AmaWaterways and Partner at L Catterton.

Director of AmaWaterways and Managing Partner at L Catterton, Marc Magliacano went on to say “We are confident that Catherine’s deep experience in the travel industry and track-record of growth and success from her roles at both Disney and Airbnb make her uniquely suited to guide the company forward into the next phase of its journey. She understands the changing customer landscape and shifting consumer demand regarding how people want to travel and to experience luxury in a way that will drive the company forward, and that will meet growing expectations and the market’s demand for high-end travel experiences.”

MSC Cruises to add Yacht Club on the Magnifica

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 28 May 2025 28 May 2025

MSC Cruises is bringing the MSC Yacht Club, its luxury all-inclusive cruising concept, to MSC Magnifica as part of significant enhancements being made to the ship that will also see the introduction of new MSC Aurea Spa and MSC Gym Powered by Technogym.

Later this year MSC Magnifica will undertake a substantial dry-dock refurbishment, transforming some of the public spaces, including the addition of MSC Cruises exclusive ‘ship within a ship’ concept, the MSC Yacht Club – making her the latest ship in the MSC Cruises fleet offering this exclusive project.

Sales opened today for guests wishing to book the MSC Yacht Club on MSC Magnifica starting from Summer 2026. This includes the first time the MSC Yacht Club has been available on itineraries from Warnemunde to Baltic/Scandinavian destinations plus the 2027 MSC World Cruise.

Gianni Onorato, CEO of MSC Cruises said: “The MSC Yacht Club is one of our most highly regarded products, loved by guests for its outstanding level of service, elegant spaces and exclusive facilities, so we are proud to be bringing this to MSC Magnifica. The extensive remodeling is the largest we’ve undertaken in the last ten years and underlines our commitment to offer our guests the best possible guest experience across our entire fleet.”

Guests booking the MSC Yacht Club benefit from an exclusive, all-inclusive experience featuring 24-hour butler and concierge service, elegant and spacious suites, and access to an oasis of private facilities including an exclusive restaurant and lounge, and a private sundeck with a pool as well as a grill restaurant and bar – all within easy reach of everything the rest of the ship has to offer.

Located across the upper decks, the new MSC Yacht Club on MSC Magnifica will span five decks.

Century Cruises opens new office in South Florida

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 28 May 2025 28 May 2025

Century Cruises, originally renowned for its voyages along China's Yangtze River, has announced the opening of its new North American office in Sunrise, Florida, near the heart of Miami and Fort Lauderdale – one of the world's premier cruise industry hubs.

Strategically located at Lake Shore Plaza II, the new office reflects Century Cruises' commitment to expanding its global presence and supporting the North American market. With close proximity to major cruise trade shows such as Seatrade Cruise Global and CLIA Cruise360, this new facility will serve as a center for economic growth and collaboration across the cruise sector.

The South Florida area office will house the Reservations, Sales, MICE and Marketing departments. These experienced teams will enhance service to travel agency partners and clients throughout North America by ensuring quicker response times and improved access to Century Cruises' luxury cruise offerings.

"Our new office in Miami, FL marks an exciting milestone for the Century Cruises (http://www.centurycruise.com/) brand," said David Fredericks, Senior Vice President of Sales and Marketing. "This cutting-edge workspace helps us build deeper, more meaningful relationships with our Valued travel partners & customers across North America."

Purpose-built with expansion in mind, the state-of-the-art facility will also create new job opportunities for South Florida's professional community.

To celebrate the grand opening, Century Cruises will host an Open House on June 18, 2025, from 11:30 AM to 3:00 PM. Local professionals, media, and community members are invited to tour the new space and connect with company leadership and staff during a dedicated networking session.