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Meyer Werft combines forces with STX Finland – and confirms my ship 5 and 6

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The Meyer Werft is combining forces with STX Finland: After numerous talks on closer cooperation with the cruise shipyard STX Finland in Turku now a stake in Papenburg shipbuilders agreed.
With its 70% share the Meyer Werft takes over the operational management of the Finnish shipyard. In Finland, currently about 1300 directly employed people work at the cruise ship Mein Schiff 4 for the German shipping company TUI Cruises.
The Hamburg shipping company TUI Cruises, a joint venture between TUI and Royal Caribbean Cruises Ltd.. (RCCL), now announced two more ships of this class also has to be ordered (My ship 5 & 6) in Turku. STX Finland is a proven specialist for cruise ships and a shipyard with very high technological know-how.
Positive effects are given by a higher flexibility to the customers.
Even with a future even stronger, common approach in the area of ​​research and development in the cruise market, and mutual learning among the workflows positive synergies are possible. “We are strengthening all sites equally.Positive effects are given by a higher flexibility to the customers.
Even with a future even stronger common approach in the area of ​​research and development in the cruise market, and mutual learning among the workflows positive synergies are possible. A staff reduction in Lower Saxony, Mecklenburg-Western Pomerania or in Finland are not an issue, “says CEO Dr. Jan Meyer.
With the Land a contract to secure sites in Papenburg is even being discussed. This makes it very clear that it is not about a shift from capacity, but to a significant strengthening of the bundled competence in the European cruise industry. The acquisition is currently subject to confirmation by the participating financial institutions as well as the approval of the Federal Cartel Office.

Thin order books for cruise shipbuilders

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By Tom Stieghorst

*InsightThe slowdown in new cruise ship orders is starting to bring consequences for the shipyards.

Two of the yards that churn out big cruise ships are on the market, according to a spokesman for STX Corp., the Korean shipping conglomerate that owns them.

A downturn in the shipbuilding and shipping sectors has left STX heavily in debt, and a spokesman said it plans to pare its focus to domestic shipbuilding by divesting overseas assets.
In 2008, when STX acquired yards in Saint Nazaire, France and Turku, Finland, the cruise industry was already putting the brakes on its headlong construction of ships. The surge that culminated with delivery of the $1 billion Oasis and Allure of the Seas ships left the industry with enough berth supply that it was difficult to keep prices moving upwards.*TomStieghorst

Cruise chiefs since then have hewn to a strategy of measured capacity growth. Carnival Corp., for example, has said it plans to order only two to three ships across its 10 major brands each year. The result for shipyards is that they compete for fewer, larger ship contracts than in the past, raising the stakes for each order.

One recent example involved a third copy of the Oasis-class sought by Royal Caribbean International. First crack went to the STX Finland yard that built the Oasis and the Allure, but when the desired level of financing guarantees wasn’t forthcoming from the Finnish government, Royal instead turned to STX France.

As a result, the Finnish shipyard’s order book has just two cruise ships in it for delivery in 2014 and 2015. The Finnish government has already agreed to buy the Turku shipyard site from STX.  Further restructuring may be coming in the second half of the year, STX says.

Germany’s Meyer Werft has four ships in the pipeline, including Norwegian Getaway and Quantum of the Seas. In Italy, Fincantieri has seven, including Regal Princess and Costa Diadema.

In 1989, after the Finnish shipyard fell into bankruptcy, Carnival Corp. had to step in and buy part of it to assure completion of the Fantasy and Ecstasy ships.  Carnival sold the stake two years later.

No one knows if that kind of rescue might be needed again. But until cruise lines step up the pace of new orders, European ship builders are going to have to be creative and flexible to stay in the game.

Royal Caribbean orders third Oasis ship from STX France

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Royal Caribbean orders third Oasis ship from STX France

By Tom Stieghorst
Royal Caribbean finalized a long negotiation by ordering a third ship in the 5,400-passenger Oasis class from the STX France shipyard.

The ship will be the same size as the Oasis and Allure of the Seas, and is intended for delivery in mid-2016.

Royal Caribbean had been negotiating with STX Finland, but financial support from the Finnish government apparently could not be worked out.

Royal Caribbean did not divulge the cost of the new ship. It said its capital spending for the next few years would be $1.3 billion in 2012, $700 million in 2013, $1.2 billion in 2014, $1.2 billion in 2015 and $1.3 billion in 2016, when the third Oasis ship is scheduled to be delivered.

When Royal Caribbean confirmed in November that it was negotiating for a third Oasis-class vessel, it said the price per berth would be less than the original two ships.

Royal Caribbean has a one-year option to build a fourth Oasis-class ship from STX France.

The contract with STX France includes the transfer of Pullmantur’s Atlantic Star as part of the consideration.