News

STX France major shareholder STX Offshore & Shipbuilding files for receivership

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 31 May 2016 31 May 2016

STX Offshore & Shipbuilding, the South Korean shipbuilder that has experienced financial problems for a long time, has filed for receivership in Seoul, media reports say.

The company owns 67% of the shares in STX France, the cruise ship builder. The French government owns the rest. STX France has a large orderbook of cruise ships from MSC Cruises and Royal Caribbean Cruises, Limited (RCCL).

In view of Cruise Business Online, the future of the French cruise ship builder should be secure despite the uncertain prospects that face its principal shareholder. There are at least two reasons for this.

The first one is that STX France has a healthy orderbook. By contrast, many of the businesses STX Offshore & Shipbuilding is engaged elsewhere have experienced a sharp fall in orders since the outbreak of the financial crisis.

Secondly, the STX France yard in St Nazaire is the only major shipbuilding facility left in the country that is capable of building large naval ships. The French government maintains a substantial navy that currently has e.g. one aircraft carrier and three helicopter carrier/ amphibious assault ships.

The government is currently facing violent opposition to planned new labour market laws and any concern around the future of STX France would only add to its problems.

Royal Caribbean orders more Oasis and Edge-class ships

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 25 May 2016 25 May 2016

Royal Caribbean Cruises Ltd. today announced that it has signed a memorandum of understanding with French Shipbuilder STX France to build a fifth Oasis-class ship for delivery in the Spring of 2021, and two additional Edge-class ships scheduled for delivery in the Fall of each of 2021 and 2022.

"The response to the arrival of Harmony of the Seas is staggering, eliciting excitement from eager cruisers from markets on both sides of the Atlantic," said Richard D. Fain, Chairman and CEO, Royal Caribbean Cruises Ltd. "And Edge-class is one of the most highly anticipated new projects, following the high bar of Modern Luxury design set by its predecessor, the Solstice-class."

"The Oasis-class ships have delivered beyond expectations each time," said Michael Bayley, President and CEO, Royal Caribbean International. "Harmony of the Seas' warm reception is evidence that growing this class of ship will continue to drive exceptional performance for the brand."

"Although our first Edge-class vessel is still over two years away from delivery, there has been a tremendous amount of interest around the new standard of style Edge-class will introduce," said Lisa Lutoff-Perlo, President and CEO, Celebrity Cruises. "Solstice-class ushered in a new era of design for modern cruise ships, and Edge-class will not disappoint as the new generation of high style and design."

"We are extremely pleased with the recent success of Harmony of the Seas and take great pride in our partnership with Royal Caribbean," said Laurent Castaing, Managing Director of STX France. "It is especially exciting to collaborate on such diverse projects from Oasis to Edge, both marvels in their own space."

This order is contingent upon the completion of customary conditions, including documentation and financing. Final contracts, which include the definitive payment schedules, are expected to be completed within the quarter. Capacity increases for 2016 through 2020 remain unchanged.

Regent Seven Seas Cruises announces H.S.H. Princess Charlene of Monaco will serve as Godmother for Seven Seas Explorer

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 25 May 2016 25 May 2016

The most luxurious ship ever built, Seven Seas Explorer, will enter service in royal fashion with Her Serene Highness Princess Charlene of Monaco having kindly accepted to serve as the ship’s godmother at a gala christening event in Monte Carlo on the evening of July 13, 2016.

“It’s fitting to have the world’s most luxurious ship, Seven Seas Explorer, christened in one of the most glamorous cities in the world by H.S.H. Princess Charlene of Monaco, who is the definition of elegance, grace and passion,” said Jason Montague, president and COO, Regent Seven Seas Cruises. “Her Highness’ stature, Her career as a world class athlete and the charitable endeavors She pursues through the Princess Charlene of Monaco Foundation are inspiring. We are extremely proud and humbled that She agreed to serve as godmother for Seven Seas Explorer.”

Joining H.S.H. Princess Charlene at the christening ceremony for Seven Seas Explorer is world renowned Italian tenor Andrea Bocelli, who will take the stage for a spectacular 40-minute performance during the event. Bocelli’s beautiful serenade will be a fitting send-off for a ship that sets a new benchmark for luxury.

“It’s such an honor to have Andrea Bocelli – a musical maestro with such an iconic and endearing voice – perform at the christening ceremony,” shared Montague. “We are making the christening ceremony for Seven Seas Explorer one for the ages, one that is truly befitting of the most luxurious ship ever built."