RJB Posted July 15, 2014 #1 Share Posted July 15, 2014 Reading that Regent is getting a new ship. There have been rumors that Oceania will get one also. Any info? :):) Link to comment Share on other sites More sharing options...
sitraveler Posted July 15, 2014 #2 Share Posted July 15, 2014 Per excellent source-NO Oceania newbuild currently in the works. Link to comment Share on other sites More sharing options...
RJB Posted July 15, 2014 Author #3 Share Posted July 15, 2014 Per excellent source-NO Oceania newbuild currently in the works. Too Bad, it would be nice to have another new and beautiful ship. :):):) Link to comment Share on other sites More sharing options...
Rare Caroldoll Posted July 16, 2014 #4 Share Posted July 16, 2014 No other information. Link to comment Share on other sites More sharing options...
Rare LHT28 Posted July 16, 2014 #5 Share Posted July 16, 2014 Maybe they need to pay for & fill the ones they have first Link to comment Share on other sites More sharing options...
hypercafe Posted July 16, 2014 #6 Share Posted July 16, 2014 Since Oceania does not do weekly turnaround trips from the same port for the session they might have a problem where to put a new ship. Five might be enough. Sent from my XT1032 using Forums mobile app Link to comment Share on other sites More sharing options...
wripro Posted July 16, 2014 #7 Share Posted July 16, 2014 Marina and Riviera are both new and beautiful ships. Link to comment Share on other sites More sharing options...
StanandJim Posted July 16, 2014 #8 Share Posted July 16, 2014 Regatta and Insignia are sixteen years old, the Nautica fourteen, so I'm thinking that Oceania wants to keep all of their options open. Forty years seems to be the physical and economic limit that a ship can survive, but few remain in the high end market beyond twenty-five years. Link to comment Share on other sites More sharing options...
Kevnzworld Posted July 16, 2014 #9 Share Posted July 16, 2014 Regent, Oceania's sister cruiseline needs a new ship. I sailed on five Regent cruises, but discontinued sailing with them in 2010 because of the age of their ships. As can be seen in my recent cruise history, I prefer the new ships whenever possible. I can't wait to try the Riviera in January ! Link to comment Share on other sites More sharing options...
sitraveler Posted July 16, 2014 #10 Share Posted July 16, 2014 no one is saying Oceania is not getting ANOTHER ship, maybe Link to comment Share on other sites More sharing options...
hondorner Posted July 16, 2014 #11 Share Posted July 16, 2014 (edited) no one is saying Oceania is not getting... No one is not saying? That translates to "Someone is saying..." :cool: ;) Are they? Time will tell, maybe... Edited July 16, 2014 by hondorner Link to comment Share on other sites More sharing options...
wripro Posted July 17, 2014 #12 Share Posted July 17, 2014 Regent, Oceania's sister cruiseline needs a new ship. I sailed on five Regent cruises, but discontinued sailing with them in 2010 because of the age of their ships. As can be seen in my recent cruise history, I prefer the new ships whenever possible. I can't wait to try the Riviera in January ! Regent is getting a new ship, the Explorer. They just cut the first steel this week. It'll be out in 2016. Link to comment Share on other sites More sharing options...
RJB Posted July 17, 2014 Author #13 Share Posted July 17, 2014 Regent is getting a new ship, the Explorer. They just cut the first steel this week. It'll be out in 2016. We know. This is where this thread began. Link to comment Share on other sites More sharing options...
kiawahdon Posted July 17, 2014 #14 Share Posted July 17, 2014 Why does this thread exist? There is no creditable information presented that even hints at a new build. Why not discuss the existence of the Loch Ness Monster- more productive. Link to comment Share on other sites More sharing options...
hondorner Posted July 18, 2014 #15 Share Posted July 18, 2014 Why does this thread exist? There is no creditable information presented that even hints at a new build. Why not discuss the existence of the Loch Ness Monster- more productive. OK -- Oceania intends to secure exclusive rights to Nessie (a sweet thing, not a monster). They plan to teach Nessie to carry guests on her back for an exciting and unprecedented shore excursion. However, this will only take place if Princess Cruises, the current agents for Nessie, agree to assign the rights. Maybe. Link to comment Share on other sites More sharing options...
Hambagahle Posted July 18, 2014 #16 Share Posted July 18, 2014 Don - sorry but for once you have made a mistake! It is not Oceania that is training Nessie - it is Costa!! Link to comment Share on other sites More sharing options...
RJB Posted July 18, 2014 Author #17 Share Posted July 18, 2014 Why does this thread exist? There is no creditable information presented that even hints at a new build. Why not discuss the existence of the Loch Ness Monster- more productive. Looking to see if anyone has any creditable information. There are some of us out there that are more connected than others. I thought the whole purpose of these treads is to find out things that we do not know. :) Link to comment Share on other sites More sharing options...
hondorner Posted July 18, 2014 #18 Share Posted July 18, 2014 Looking to see if anyone has any creditable information. There are some of us out there that are more connected than others. I thought the whole purpose of these treads is to find out things that we do not know. :) There may be some who have some possible information, but learned it confidentially and are not able to go public in consideration of the source. I can state there is no new build in the immediate plans, but that's no secret. PCH has to finish Regent Explorer first, and the steel was just cut within the last week. Link to comment Share on other sites More sharing options...
kiawahdon Posted July 18, 2014 #19 Share Posted July 18, 2014 A fact that may negate a new build announcement anytime soon is that earlier this year Apollo Global Management, LLC filed a blank Form S-1 with the SEC. This filing(when the blanks are filled in) would take Prestige Cruise Holdings public and greatly reduce Apollo's holdings. Theoretically it might also provide some cash to PCH's to reduce their debt for Regent's new build and maybe help facilitate a new build for Oceania. Until the offering, which is solely at Apollo's choice, I personally do not see more balance sheet debt, due to an O new build, as a positive to any public offering. Link to comment Share on other sites More sharing options...
StanandJim Posted July 18, 2014 #20 Share Posted July 18, 2014 A fact that may negate a new build announcement anytime soon is that earlier this year Apollo Global Management, LLC filed a blank Form S-1 with the SEC.This filing(when the blanks are filled in) would take Prestige Cruise Holdings public and greatly reduce Apollo's holdings. Theoretically it might also provide some cash to PCH's to reduce their debt for Regent's new build and maybe help facilitate a new build for Oceania. Until the offering, which is solely at Apollo's choice, I personally do not see more balance sheet debt, due to an O new build, as a positive to any public offering. -and if the Government subsidized Shipyard holds the debt, would that change your opinion? Link to comment Share on other sites More sharing options...
kiawahdon Posted July 18, 2014 #21 Share Posted July 18, 2014 -and if the Government subsidized Shipyard holds the debt, would that change your opinion? Typically the shipyards-thru government subsidies-offer a lower than "market" interest rate on the debt owed the shipyard. Maybe LIBOR+1 when market is 7%. This "deal" does not do anything with the debt, only the interest paid on the debt. The debt will still be on PHC's balance sheet. Link to comment Share on other sites More sharing options...
Rare MVPinBoynton Posted July 18, 2014 #22 Share Posted July 18, 2014 A fact that may negate a new build announcement anytime soon is that earlier this year Apollo Global Management, LLC filed a blank Form S-1 with the SEC.This filing(when the blanks are filled in) would take Prestige Cruise Holdings public and greatly reduce Apollo's holdings. Theoretically it might also provide some cash to PCH's to reduce their debt for Regent's new build and maybe help facilitate a new build for Oceania. Until the offering, which is solely at Apollo's choice, I personally do not see more balance sheet debt, due to an O new build, as a positive to any public offering. As a retired CFO, I couldn't agree with you more. Link to comment Share on other sites More sharing options...
Rare LHT28 Posted July 18, 2014 #23 Share Posted July 18, 2014 So will O be buying the Ocean Princess or the Pacific Princess ..that is the question ??? Lyn Link to comment Share on other sites More sharing options...
StanandJim Posted July 18, 2014 #24 Share Posted July 18, 2014 Typically the shipyards-thru government subsidies-offer a lower than "market" interest rate on the debt owed the shipyard. Maybe LIBOR+1 when market is 7%. This "deal" does not do anything with the debt, only the interest paid on the debt. The debt will still be on PHC's balance sheet. Forgive me, but lower than market interest is something better associated with buying a new car. When a Shipyard needs to keep skilled employees from scattering to the four winds between orders, particularly when the taxpayer is picking up the tab, the financing can become very, very creative. -And let's remember that it takes two or three years to build a a ship, and then they have to be outfitted. Keels are being laid now for Ships which will debut in the 2018-19-20 Seasons. Link to comment Share on other sites More sharing options...
rallydave Posted July 18, 2014 #25 Share Posted July 18, 2014 Forgive me, but lower than market interest is something better associated with buying a new car. When a Shipyard needs to keep skilled employees from scattering to the four winds between orders, particularly when the taxpayer is picking up the tab, the financing can become very, very creative. -And let's remember that it takes two or three years to build a a ship, and then they have to be outfitted. Keels are being laid now for Ships which will debut in the 2018-19-20 Seasons. Have to question your math, the Regent Explorer which began the build cycle this past week will be sailing under Regent in 18 months. Your 2 to 3 years might be accurate for some of the new monstrosities of the seas and that includes outfitting and sailing with paid passengers. Even if your 2 to 3 years is correct, your last statement about debut is 4 to 7 years after keel laying and way too much time. The 4 to 7 years might be accurate for the time from conception to sailing which includes a lot of time to design, finance and other preliminary work prior to cutting the first steel piece. Google is your friend as it states that the Oasis of the Seas took about 3 years from keel to sailing for Carnival and any ships for O or R would take a much shorter time ergo, the 18 months for Explorer. And as Kiawahdon stated, debt is debt and a discounted price to keep shipworkers working doesn't change the premise that added debt just before an IPO is not a good thing. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now