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TOP STORIES


HOWARD HUGHES AND THE STRANGE LEGAL HISTORY OF THE OCEAN FLOOR: PART 1

Published by Timothy G. Nelson


VIDEO: SECOND-TO-LAST FREEDOM-CLASS LCS LAUNCHED AT MARINETTE

Published by The Maritime Executive


THE STENA WAY

Published by Sean M. Holt


WHAT WE ARE GETTING WRONG ABOUT THE INDIAN OCEAN

Published by Brian Gicheru Kinyua

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REPORT: FINCANTIERI IS FINALIZING $4B ORDER FROM NORWEGIAN CRUISE LINE




Norwegian Prima is the first of six next-generation cruise ships Fincantieri
designed and is building for Norwegian Cruise Line (NCL)

Published May 3, 2022 8:39 PM by The Maritime Executive



Italian shipbuilder Fincantieri is rumored to be close to landing the first
major construction order for cruise ships since the onset of the pandemic more
than two years ago. The Italian newspaper Il Secolo XIX first reported over the
weekend that Norwegian Cruise Line Holdings, the parent company of three North
American cruise brands is finalizing an agreement with Fincantieri.

Details of the order are not known but speculation confirmed by Reuters says the
cruise holding company will order up to six ships valued at $4 billion. It is
not known if the order would be entirely for larger cruise ships to be used by
the company’s contemporary segment brand Norwegian Cruise Line or possibly the
order could be split with one or both of the cruise company’s luxury brands. All
three of the brands are currently building ships at Fincantieri, while NCLH has
made no secrete of its desire to add more ships to its ultra-luxury Regent Seven
Seas Cruises brand. Regent is currently building a 750-passenger all-suite
55,500 gross ton cruise ship, Seven Seas Grandeur, at Fincantieri due for
delivery in 2023. Unlike the other two brands, Regent is the only one that does
not have additional cruise ships on order.

The relationship between Norwegian and Fincantieri dates back more than a decade
when the Italian shipyard built two deluxe cruise ships for the Oceania Cruise
brand. Before that, Norwegian had been building its large cruise ships at Meyer
Werft in Germany, a relationship that dated back to the early 2000s when
Norwegian was owned by Genting Hong Kong’s Star Cruises and began building its
modern operation based on ships from Meyer Werft.

Oceania was pleased with the two Fincantieri built 66,000 gross ton cruise ships
introduced in 2011 and 2012 as Marina and Riviera, which lead to an expansion of
the relationship. Regent ultimately is building three ultra-luxury cruise ships
with Fincantieri starting with the Seven Seas Explorer in 2016 and the Seven
Seas Splendor introduced in February 2020 weeks before the industry paused due
to the pandemic.

Fincantieri’s biggest win however came in 2017 when they lured Norwegian Cruise
Line away from Meyer with a new concept design called Project Leonardo for a
3,300 passenger 142,500 gross ton cruise ship. Norwegian initially ordered four
sister ships and in August 2018 expanded the order by exercising an option for
two additional sister ships. 

The first one of the new concept ships, Norwegian Prima is currently completing
construction in Italy. Norwegian announced at the end of April that the vessel
is behind schedule due to supply chain challenges in the final fitting out of
the ship. Due to enter service in August 2022, Norwegian canceled preview
voyages for the trade and now has delayed the ship’s maiden voyage until
September 2022. The second ship of the class Norwegian Viva is due to enter
service in June 2023 with the additional four ships due for completion by 2027.

If Fincantieri is successful in winning the new order from NCLH, it would be the
first large order for cruise ships in more than two and a half years. While the
shipbuilding industry was successful in retaining all the major cruise ship
orders during the pandemic, none of the lines have yet moved forward with future
construction plans, although both Royal Caribbean Group and Norwegian Cruise
Line Holdings have talked about their interest in continuing forward with
additional orders. NCLH is due to provide a financial update for the first
quarter of 2023 on May 10.

The order is also being seen as a final achievement from long-term Fincantieri
CEO Giuseppe Bono. The 78-year-old executive who lead a turnaround for the
shipbuilder over the past 20 years is scheduled to retire after the May 16
shareholder meeting. A newly appointed executive, Pierroberto Folgiero, named by
the state, is due to be approved by the shareholders as the next CEO of the
company.


MORE TOP STORIES

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 * SALTWATER UNDER AN INLAND ICE SHEET HOLDS CLUES TO ANTARCTICA'S PAST

 * REPORT: RECYCLING IS DOING LITTLE TO STOP OCEAN PLASTIC POLLUTION

 * FRED. OLSEN DESIGNS NOVEL FLOATING FOUNDATION FOR OFFSHORE WIND

EDITORIALS TOP STORIES

 * HOWARD HUGHES AND THE STRANGE LEGAL HISTORY OF THE OCEAN FLOOR: PART 1

 * WHAT WE ARE GETTING WRONG ABOUT THE INDIAN OCEAN

 * SALTWATER UNDER AN INLAND ICE SHEET HOLDS CLUES TO ANTARCTICA'S PAST

 * COASTAL AND MARINE CARBON OFFSETS ARE TAKING ROOT

 * PORT OF SALDANHA BAY COULD BOOST SOUTH AFRICA'S CONTAINER CAPACITY



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RELATED STORIES

Offshore




HOWARD HUGHES AND THE STRANGE LEGAL HISTORY OF THE OCEAN FLOOR: PART 1

Published May 9, 2022 12:37 PM by Timothy G. Nelson

In June 1974, a large and bulky ship, the Hughes Glomar Explorer, exited Long
Beach, California, sailing westward into the Pacific. Boasting an enormous
drilling tower, and owned by the notorious and reclusive billionaire, Howards
Hughes, the vessel was reportedly intended to recover thousands of tons per week
of copper, nickel, manganese and cobalt from the floor of the Pacific. These
resources, real enough, exist in potato-sized nodules on the deep sea bed, way
beyond any nation's home waters. Even...

Continue Reading...

Shipbuilding




VIDEO: SECOND-TO-LAST FREEDOM-CLASS LCS LAUNCHED AT MARINETTE

Published May 8, 2022 10:42 PM by The Maritime Executive

Fincantieri Marinette Marine has launched the second-to-the-last Freedom-class
LCS, USS Beloit. The ship is named after the Wisconsin city where
Fairbanks-Morse has built engines for the U.S. Navy for generations. Beloit
native Maj. Gen. Marcia Anderson (U.S. Army, ret'd) served as the ship's
sponsor, and veterans from the city of Beloit were brought up by bus for the
ceremony.  “The future USS Beloit will be the first U.S. Navy ship honoring the
proud naval contributions of Beloit, Wisconsin,” said Secretary...

Continue Reading...

Shipping




THE STENA WAY

Published May 8, 2022 10:30 PM by Sean M. Holt

“Innovation and performance are part of the Stena culture,” says Erik Hånell,
Stena Bulk’s President & CEO. “Our motto, ‘Oil and gas should always travel
first class,’ means oil and gas are always cared for to the highest degree. What
that means for us today is our proactive development to make shipping safer, of
course, and cleaner. And with sustainability factors coming more and more into
focus, we want to be at the forefront of this movement as well.”
Unfortunately,...

Continue Reading...

Government




WHAT WE ARE GETTING WRONG ABOUT THE INDIAN OCEAN

Published May 8, 2022 9:56 PM by Brian Gicheru Kinyua

Recent studies in geopolitics appear to concur that the Indian Ocean rim could
become the world’s most important economic region, surpassing the Pacific Rim.
Indeed, the competition amongst global super powers for control of the Indian
Ocean and its resources has intensified. An important trade route for centuries,
the Indian Ocean now commands major sea-lanes where half of the world’s
container ships pass, as well as 70 percent of the world’s oil shipments. It is
a critical resource for the...

Continue Reading...


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