Meyer Turku returns to the big time

At a ceremony today for the handover of Mein Schiff 4 to TUI Cruises, Bernard Meyer, patriarch and CEO of the Meyer Group, announced that his company will be making large investments in its Finnish yard, which it acquired in autumn last year in partnership with the Finnish state.
In addition, Meyer

New Megaship to Join Royal Carribean Fleet

By MarEx 2015-05-08 08:59:27

Royal Caribbean Cruises announced yesterday that it has placed an order from Germany’s Meyer Werft shipyard for a fourth Quantum-class ship, which will be delivered in 2019.

Two of the Quantum-class vessels, the Quantum of the Seas and Anthem of the Seas, both debuted within the last year in China and the UK respectively. The two vessels are tied as the third largest cruise vessels ever built, weighing in at 168,666 tons with the ability to transport 4,180 passengers at double occupancy. Currently, Royal Caribbean also holds the number one and two largest vessel positions with the Allure of the Seas and Oasis of the Seas.

“[Yesterday’s] announcement is a reflection of the success of the first two Quantum-class ships,” said Richard D. Fain, Chairman and CEO, Royal Caribbean Cruises Ltd.

Royal Caribbean has pegged the Quantum-class vessels as the most technologically advanced cruise ships ever built, with a completely digital check-in process and high speed internet, an industry first.

Speaking on the new features and amenities available on this latest vessel class, Michael Bayley, President and CEO, Royal Caribbean International stated, “Royal Caribbean International is synonymous with adventure, and the icons and amenities on this ship will continue to challenge and expand guests’ expectations of the cruise experience.”

Based upon current ship orders, projected capital expenditures for full year 2015, 2016, 2017, 2018 and 2019 are $1.6 billion, $2.3 billion, $0.4 billion, $2.4 billion and $1.3 billion, respectively.

Capacity increases for 2015, 2016, 2017, 2018 and 2019 are expected to be 5.5%, 6.3%, 3.1%, 3.9% and 6.5%, respectively. These figures do not include potential ship sales or additions that the company may elect to make in the future.

The order is contingent upon the completion of customary conditions, including financing.


Container freight rates plunged in March

Container freight rates fell sharply in March and are now well below their range of the past two years, data from Container Trade Statistics (CTS), the UK-based consultancy, has shown.
Its freight index that includes both spot and contract rates fell two points to 79 in March. It had remained

China vessel exports up 34.8% y/o/y in 1Q

China’s vessel exports rose 34.8% year-on-year (y/y) to USD8.3 billion in the first three months of 2015, according to customs statistics.
The exports are likely to decrease y/y later this year as new orders placed at Chinese shipyards have been tumbling since late 2014, China National Association

Indonesia arrests two tankers

Two tankers were arrested by the Indonesian Marine Police for illegal fuel oil bunkering off Batam and Palembang, Indonesia.
Urban Success, with IMO number 8617615, was apprehended by the Indonesian Marine Police for alleged smuggling of diesel fuel from Palembang into the outer port limit in east

Newcastle coal port fully operational

Dredging, diving, scaffolding and repairs continue at Australia’s largest coal port this week after heavy rain and winds closed the port in April, causing the biggest export slump for eight years.
“For most vessels it’s business as usual,” a port spokesperson told IHS Maritime. “The port is fully