RCCL joint venture in China Announced

[Ourusualbeach]

RCCL just announced a joint venture in China that will start with one ship in 2015. It didn't specify the ship but I wonder if it is the Quantum.

 

 

MIAMI, Nov. 21, 2014 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) and Ctrip.com International Ltd. CTRP, +1.12% today announced that they have agreed to form a strategic partnership through SkySea Cruises, a joint venture which is designed to serve the Chinese cruise market. Royal Caribbean and Ctrip will each own 35% of the new company, with the balance being owned by SkySea management and a private equity fund. The transaction is expected to close before the end of November.

 

"We look forward to working with Ctrip, a Chinese travel leader, to build a national cruise line for China," said Richard D. Fain, chairman and chief executive officer of Royal Caribbean Cruises Ltd. "SkySea Cruises represents an important strategic milestone in our expansion efforts in the Chinese market."

 

"Our partnership with Royal Caribbean Cruises Ltd. will allow us to bring the very best cruise vacations tailor-made for Chinese travelers," said Min Fan, chairman and chief executive officer of SkySea Cruises. "We expect SkySea cruises to be an integral part of China's fast growing cruise market."

 

The new cruise line will begin service in the middle of 2015 and will operate with one ship. The venture anticipates the potential for additional vessels to be added over time. Sales and marketing activities have commenced.

 

Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France, as well as TUI Cruises through a joint venture. Together, these six brands operate a combined total of 42 ships with an additional 7 under construction contracts. They operate diverse itineraries around the world that call on approximately 490 destinations on all seven continents. Additional information can be found on http://www.royalcaribbean.com, http://www.celebritycruises.com, http://www.pullmantur.es, http://www.azamaraclubcruises.com, http://www.cdfcroisieresdefrance.com, or http://www.rclinvestor.com.

 

Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip aggregates comprehensive travel related information and offers its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip enables business and leisure travelers to make informed and cost-effective bookings. It also helps customers book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.

 

SOURCE Royal Caribbean

 

Copyright © 2014 PR Newswire. All rights reserved

[Cruising89143]

The ship is the current Celebrity Century which will be leaving the Celebrity fleet in April. This is going to be an entry level cruise line and they will use older tonnage. Look for the Vision class to go next.

 

http://www.seatrade-insider.com/news/news-headlines/royal-caribbean-ctrip-move-ahead-on-national-cruise-line-for-china.html

 

I give RCCL credit. They have jumped on the Asian market and will benefit from this.

Edited November 21, 2014 by cruisingator2

[SaintL]

So will this be where Century goes or where the vision class ships go?

[Ourusualbeach]

The ship is the current Celebrity Century which will be leaving the Celebrity fleet in April. This is going to be an entry level cruise line and they will use older tonnage. Look for the Vision class to go next.

 

http://www.seatrade-insider.com/news/news-headlines/royal-caribbean-ctrip-move-ahead-on-national-cruise-line-for-china.html

 

I give RCCL credit. They have jumped on the Asian market and will benefit from this.

 

Thanks.

[MADflyer]

Right on the heals of last month's Carnival joint venture with the Chinese shipbuilder and the potential involvement of their Italian partner. This venture is for new build cruise vessels and therefore is related to the Quantum deployment choice.

 

 

http://online.wsj.com/articles/carnival-fincantieri-explore-possible-chinese-shipbuilding-venture-1416577421

[Cruising89143]

Right on the heals of last month's Carnival joint venture with the Chinese shipbuilder and the potential involvement of their Italian partner. This venture is for new build cruise vessels and therefore is related to the Quantum deployment choice.

 

 

http://online.wsj.com/articles/carnival-fincantieri-explore-possible-chinese-shipbuilding-venture-1416577421

 

The RCI venture was in the works before Carnival inked the deal with their partners. The Century was announced several months ago as being sold to Ctrip plus Fain has alluded for months that something was up with removing older ships in the fleet that no longer matched up with the newer ships.

 

I'm sure Carnival Corp will just take an existing design like a Carnival/Costa clone and stick a new funnel on it and call it a new class of ship. That is what I have come to expect from Carnival.

Edited November 22, 2014 by cruisingator2

[Big_G]

The RCI venture was in the works before Carnival inked the deal with their partners. The Century was announced several months ago as being sold to Ctrip plus Fain has alluded for months that something was up with removing older ships in the fleet that no longer matched up with the newer ships.

 

I'm sure Carnival Corp will just take an existing design like a Carnival/Costa clone and stick a new funnel on it and call it a new class of ship. That is what I have come to expect from Carnival.

 

The Carnival faithful are on the edge their seats waiting for some kind of China announcement. It's a funny read. Some want to know what ships are going and others in denial are saying that Carnival will wait to see if Royal fails. He who hesitates has lost.

 

 

Sent from my iPad using Tapatalk

[MADflyer]

The RCI venture was in the works before Carnival inked the deal with their partners. The Century was announced several months ago as being sold to Ctrip plus Fain has alluded for months that something was up with removing older ships in the fleet that no longer matched up with the newer ships.

 

I'm sure Carnival Corp will just take an existing design like a Carnival/Costa clone and stick a new funnel on it and call it a new class of ship. That is what I have come to expect from Carnival.

 

The Carnival deal is related to a 9 ship new build Chinese cruise line that has been in the works for years and I am sure both RCCL and Carnival Corp are more than happy to step in for both of these ventures and hopefully dodge that new entry.

 

With the European yards being owned by STX from Korea and their financial problems and the announcement by Mitsubishi Heavy in August that they plan to exit the cruise ship business following the fiasco with Carnival subsidiary AIDA, all of this is getting a little hard to follow, but it is sure interesting.

[Iluvcruising2]

There is quite a large appetite for cruising in China these days. Won't go far wrong.

[Cruising89143]

The Carnival deal is related to a 9 ship new build Chinese cruise line that has been in the works for years and I am sure both RCCL and Carnival Corp are more than happy to step in for both of these ventures and hopefully dodge that new entry.

 

With the European yards being owned by STX from Korea and their financial problems and the announcement by Mitsubishi Heavy in August that they plan to exit the cruise ship business following the fiasco with Carnival subsidiary AIDA, all of this is getting a little hard to follow, but it is sure interesting.

 

Part of STX Europe was recently purchased by Meyer Werft. They now own 70% of the Turku yard.

[Cruising89143]

The Carnival faithful are on the edge their seats waiting for some kind of China announcement. It's a funny read. Some want to know what ships are going and others in denial are saying that Carnival will wait to see if Royal fails. He who hesitates has lost.

 

 

Sent from my iPad using Tapatalk

 

Yeah the same ones that stated Oasis was going to bankrupt RCI. LOL....

 

Carnival has fallen far behind RCI and NCL. They have ten ships that entered service in the 90's with only one new order on the books. Those eight Fantasy class ships have paid for themselves ten times over. The rest of the Carnival Corp lines are in a little better shape as more money has been invested in new builds.

 

I don't see Carnival starting this new Chinese venture with new ships. They will start out with older tonnage to get their foot in the door. Now we know where the Celebration is moving....;):)

[MADflyer]

Part of STX Europe was recently purchased by Meyer Werft. They now own 70% of the Turku yard.

 

Yes, that was great that the yard was saved from closure. While we all have access to the same information coming out of Europe, it is really interesting that what is going on in China is only being disclosed with these joint ventures now coming to light.

[waterbug123]

Clearly Royal sees the Chinese as a huge market for cruises. Don't forget that outside of this venture, Quantum is heading to Shanghai to homeport there starting next May I believe. I looked at the itineraries and most appear to be 4 or 5 night sailings to with one port of call.... definitely targeting the Chinese, as westerners would seemingly prefer longer itineraries that allow them to experience more cities in one cruise.

 

We also understand from talking to some people on Quantum that it's going to have some major retrofitting done when it heads to Shanghai. Specifically, we heard that the Music Hall will become a 2 story casino addition. Whether that's accurate or not, who knows. Can't help but wonder what other changes will be made to cater to the different market!