Tag Archives: memorandum of understanding

Explora Journeys orders two new Hydrogen-Powered Ships.

Posted on by
Reply
Explora V

Explora Journeys, the luxury cruise brand of MSC Group, has agreed a deal with shipbuilding group Fincantieri for the construction of two new hydrogen-powered luxury cruise ships.

Explora V and VI will feature liquefied natural gas (LNG) engines designed to tackle the issue of methane slip and will also be equipped with a containment system for liquid hydrogen that will enable them to use the low-carbon fuel.

Hydrogen fuel will power a six-megawatt fuel cell to produce emissions-free power for the hotel operation and allow the vessels to run on zero emissions in port, with the engines turned off.

The two new builds, which will take the lines fleet from four to six vessels, are set to come into service in 2027 and 2028, respectively.

Explora Journeys has also confirmed that previously announced vessels Explora III and IV will be powered by LNG. The two ships will be enlarged by 19 metres to enable the installation of the system.

Pierfrancesco Vago, executive chairman of MSC Group’s Cruise Division, said the move marks a “significant step forward” in the line’s 2050 net-zero emissions target.

“Explora Journeys is building ships for tomorrow, utilising today’s latest technologies and being ready to adapt to alternative energy solutions as they become available,” he added.

“This transition to zero-emissions operations for the maritime industry is the biggest challenge that we will ever face, and this will only be achieved by everyone playing their part – by investing in research and development and through significant investment both by companies but also governments.”

The two additional ships covered under the memorandum of understanding (MOA) with Fincantieri will bring Explora Journeys’ investment in its fleet to €3.5 billion.

This includes an additional €120 million each for fitting Explora III and IV with LNG engines, a change that required a temporary halt of work due to the significant redesign of the ships, which will now be delivered in 2026 and 2027.

Royal Caribbean seeks new terminal in Miami

Posted on by
Reply

Royal Caribbean Cruises Ltd. has started negotiations aimed at building a new $100 million terminal at Port Miami that would accommodate Oasis-class ships.

Specifications call for a 170,000-square-foot terminal with a berth of 400 meters, or about 1,312 feet. Oasis of the Seas is 1,186 feet long.

The specifications are in a memorandum of understanding to be considered by the Miami-Dade Board of County Commissioners on Sept. 16. If approved, the memorandum would become a roadmap for a final negotiation. The memorandum said the terminal is “assumed to become operational” by the end of 2018.

“By the nature of a memorandum of understanding, there is still a long road to go,” said Rob Zeiger, Royal Caribbean’s vice president of communications.

Royal Caribbean currently docks at Terminal G at the port, the closest one to downtown Miami. The new terminal would be built partly on a cargo area in the easternmost part of the port furthest from downtown. Designated Terminal A, it would be developed and owned by Royal Caribbean except for a small contribution from the county.

The agreement, which would last for a minimum of 20 years, calls for Royal Caribbean to pay an initial rent on leasing the land beneath the terminal for $9.5 million a year, or about $250 million over the life of the agreement, after annual escalators. The lease would have four 10-year optional extensions. A summary of the memorandum calls it a new model for financing terminals at the port.

“This deal structure is extremely attractive to the port because it transfers risk from the county to a private company,” said the summary, signed by Jack Osterholt, deputy county mayor.

The memorandum said that ever since Miami lost the deployment of Oasis and Allure of the Seas to Fort Lauderdale’s Port Everglades in 2009, the port has been talking with Royal Caribbean about ways to boost the number of passengers. Currently, that number is about 730,000 a year.

Royal Caribbean a partner in Malaysia project

Posted on by
Reply

By Tom Stieghorst

Royal Caribbean International is one of the companies signing a memorandum of understanding to co-develop a destination called Melaka Gateway said to cost $12 billion over 10 years.

The project will be built on three islands in Malaysia covering 609 acres. It will include a cruise terminal, a 1,000-slip marina and a ferry terminal as well as luxury hotel and condominium components.

The lead developer is KAJ Development. The prime minister of Malaysia officiated at the unveiling last week of a master plan for the project, which is expected to boost tourism to Malaysia by 2.5 million visitors over 12 years.