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Rauma Marine Constructions cuts losses by half – a new strategic program set to improve profitability in 2023

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 17 March 2023 17 March 2023

In 2022, the consolidated turnover of Rauma Marine Constructions (RMC) was EUR 143.5 million. This signifies a slight decrease from the previous year (EUR 154.2 million). The loss for the financial year was EUR -29,907,608.18 (2021: -58,404,096.49), and the equity ratio at the end of the financial year was +40.5%.

“The past few years have been difficult for RMC, and it is clear that this cannot continue. External challenges have been of course difficult for several operators. What we can do at our end is to focus on developing our operations to be as good as possible. For this, we have launched a strategic programme to achieve long-term profitability,” says Stig Gustavson, Chairman of RMC’s Board of Directors.

As a result of Russia invading Ukraine in February 2022, European steel markets faced drastic changes in terms of material availability and pricing, among other things. This unexpected situation halted block construction for RMC for a few months, and it was not until the summer that the company was able to resume utilising full capacity.

Production of multi-role corvettes will start in late-2023

Despite the challenging year, RMC’s projects have been progressing. In December, the company handed its third newbuilding vessel, MyStar, to Tallink. The advanced ship has been operating the route between Tallinn and Helsinki since December, gathering praise from the client and passengers.

In February and December, RMC began the production of two sister vessels set to operate the route between Tasmania and mainland Australia. The keel laying of the first ship was celebrated in October.

In January 2023, production work began in the shipyard’s new multipurpose hall. The building’s office space was completed in March. The hall will house the construction of four multi-role corvettes for the Finnish Navy as part of the Squadron 2020 project. The corvettes will be constructed indoors for security purposes.

The production of the multi-role corvettes will begin at the end of 2023. Steelwork for the block prototype of the vessels is already completed, and this will provide knowledge for the construction of new blocks. After the vessels have been completed, the multipurpose hall can house the construction of government vessels.

In addition to the hall, RMC has made significant investments also in steel production for the Squadron 2020 project. The investments were completed in the spring of 2022. The company is also planning to invest in a new wharf area in relation to the project.

Order book worth over EUR 1 billion

RMC has an order book worth EUR 1.2 billion extending all the way to 2028. Orders comprise six vessels in total: four multi-role corvettes for the Finnish Navy and sister vessels for TT-Line Company.

In order to carry out these orders successfully, the company must adjust its course of action and operation structure. Therefore, the company has implemented a strategic programme to achieve long-term profitability and increase capacity. The programme aims to clarify the current networked operating model and and make it more functional.

“Year 2023 is a turning point, and we have all that it takes to become profitable in our operation. The strategic programme is well underway and we have already seen development as a result of it,” Gustavson says.

The Board of Directors of RMC has appointed Mika Nieminen as the company’s new CEO and President, starting 16 March 2023. CEO Mika Heiskanen will move forward in his career and join the Royal Caribbean Group.

Seabourn sells Seabourn Odyssey to MOL Group for delivery in September 2024

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 16 March 2023 16 March 2023

Seabourn, the leader in ultra-luxury cruising and expedition travel announced the sale of Seabourn Odyssey to Mitsui O.S.K. Lines, Ltd. (MOL). Following the sale, Seabourn will continue to operate all published voyages through August 22, 2024, under a charter arrangement. Seabourn Odyssey will be delivered to MOL after the charter agreement.

“We are proud that Seabourn Odyssey carried our guests across the world for the last 14 years and are happy to see her join a great company, MOL,” said Seabourn President Natalya Leahy. “As we prepare to say farewell to Odyssey in September 2024, I am excited to further optimize our fleet as we grow our expedition business. With the addition of Seabourn Pursuit this summer, Seabourn will have one of the most modern fleets in the ultra-luxury segment with an average age of just seven years.”

Seabourn’s fleet expansion into the ultra-luxury expedition market allows for a more diverse offering of deployment opportunities, which will lead to new and exciting itineraries across all seven continents with a higher guest capacity compared to 2019 even after Seabourn Odyssey’s departure.

“With this elite, modern fleet, Seabourn continues as the leader in ultra-luxury travel, providing highly curated and immersive experiences and unique ‘Seabourn Moments’ for our guests,” Leahy said.

Photo credit, both photos: Teijo Niemela

GPH appoints Erika Tache as Vice President of Business Development for Shorex and Landside

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 16 March 2023 16 March 2023

Global Ports Holding (GPH), the world's largest cruise port operator, has appointed Erika Tache as Vice President of Business Development for Shorex and Landside. “With over 20 years of experience in the cruise industry, Tache brings a wealth of expertise in destination planning and development, offshore excursions, and cultural heritage tourism development,” the company said in a statement.

Prior to joining Global Ports Holding, Tache served as the Senior Director of Product Development, Operations, and Marketing for Carnival Cruise Line. In this role, she was responsible for product development and implementing strategies for excursions across 90 ports and 26 ships, as well as directing procurement and tour contracting for all of the nine Carnival Corporation brands in various regions.

Mehmet Kutman, Chairman and CEO of Global Ports Holding, expressed his excitement about the appointment, stating, "I welcome Mrs. Erika Tache, to the GPH team. With her extensive knowledge in the development of Shorex and landside tourism, she will be a great addition to our team of experts and professionals at GPH. I look forward to working with her in the next stage of the development of our global network."

In her new role, Tache will work closely with the Office of the Chairman to develop the commercial business side of Global Ports Holding. With her proven track record of leading successful strategies for product development and quality assurance programs for unique travel experiences around the world, she is a valuable addition to the executive team

UK study finds significant rise in newcomer interest to cruise

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 13 March 2023 13 March 2023

The number of newcomers expected to sail on a cruise in 2023 is more than double last year, a study by online travel agency cruise.co.uk has found.

A survey carried out by cruise specialist, cruise.co.uk, and completed by almost 1200 respondents, revealed that, while only 4% of people were new-to-cruise in 2022, over 9% are planning to take their first holiday at sea this year, the company said in a statement.

In the last year before the pandemic, 2019, similarly saw 4% of respondents taking their first cruise

The Mediterranean is the destination of choice for first-timers, with the Caribbean in second, and the Norwegian Fjords and north Scandinavia in third place.

The study also revealed that over 50% of respondents who are existing cruisers already have a future cruise booked.

Tony Andrews, deputy managing director of cruise.co.uk, said in the statement: “We’re encouraged to see such a significant increase in the number of new-to-cruise customers looking to sail this year. A holiday at sea offers unbeatable choice, to suit every taste and budget, so we’d urge anyone who hasn’t tried it yet to dip their toe in the water. Plus, with around 20 new ships launching this year, there is going to be even more reasons for holidaymakers to switch from land to sea.”

P&O Cruises says Wave season strongest ever

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 13 March 2023 13 March 2023

P&O Cruises, the UK focused contemporary market unit in Carnival Corporation & plc group, has reported its strongest Wave ever, with a record-breaking number of bookings made during the period.

The most popular destination was the Norwegian fjords, with guests also choosing holidays in the Caribbean and the Western Mediterranean, the company said in a statement.

P&O Cruises president Paul Ludlow said in the statement: “This year’s Wave season has surpassed all expectations with record-breaking days throughout the period. It’s particularly encouraging to see that guests who are new to cruising are recognising the excellent value for money, fantastic destinations and unique experience on a P&O Cruises holiday.”