Genting Hong Kong has signed a preliminary agreement to build a second cruise ship at Meyer Werft in Germany for its Star Cruises brand, the company said in a statement.
The second vessel will cost €697.2 million and final contract is subject to settlement of certain terms and conditions. On 7 October, Meyer Werft said it would build a 150,000 gross ton vessel for Star Cruises that will have 1,680 cabins and which is scheduled for delivery in autumn of 2016.
"For the further development of its cruise and cruise related business, the Group reviews its fleet portfolio and deployment options from time to time. Construction of the First Vessel and the Second Vessel is in line with the Group’s long-term strategy in modernising and expanding its fleet for continuing business development and also to strengthen the Group’s market penetration in the Asia Pacific Region. It is our present intention that the Second Vessel will be designed to cater for the unique demands of Asian clientele, in particular, Singapore, Malaysia and Thailand," Genting Hong Kong said.
"The Board believes that the First Vessel and the Second Vessel, upon delivery and operation, will further strengthen the Group’s cruise brand, enable the Group to compete more effectively in the cruise industry, and enable the Group to take advantage of growing demand for cruise business in the Asia Pacific market and further improve on its operating efficiency and revenue potential.'
'The Board considers the terms and conditions of the Second Shipbuilding Contract (including the Contract Price) to be determined on normal commercial terms and to be fair and reasonable and in the interests of the Company and its Shareholders,'' Genting Hong Kong said.
