Veendam and Maasdam sold

[trishbk]

It was announced today that both these ships have been sold to an unnamed buyer. Both ships are in the Red Sea right now. I cannot believe that Holland and other cruise lines are continuing to sell cruises for ships that they have earmarked to sell either announced privately or behind corporate doors. And then if you cancel after full deposit is paid you only get a FCC. Just doesn’t seem right or ethical.

 

 

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[kazu]

I  haven’t seen an announcement.  Link please?

If they were just sold then I suspect the cruises will either be cancelled or an offer to change to a different ship and itinerary?

 

[BSR]

I have a cruise booked on the Maasdam.  I wonder if it will be canceled.

[rothbury]

I'll wait until I see something official but if true I guess we can kiss our November cruise good-bye.  Planned to cancel anyway but I think I'll see how HAL handles this.

[BSR]

1 minute ago, rothbury said:

I'll wait until I see something official but if true I guess we can kiss our November cruise good-bye.  Planned to cancel anyway but I think I'll see how HAL handles this.

I will wait to see something official.  

[VMax1700]

13 minutes ago, trishbk said:

It was announced today

Who announced it? Carnival Corp? The (unnamed) Buyer? Third Party? 

[tjcox9]

This is all I find on this, not official Carnival though.

 

https://www.cruisehive.com/holland-americas-maasdam-and-veendam-cruise-ships-expected-to-be-sold/40700

[Gigi1977]

We were told on a cruise last year (cruise of Vikings) that ALL HAL ships are for sale 100% of the time for the right price.  
 

It has been published that the Carnival Corp is looking to get rid of the old less efficient ships - Veendam and Maasdam would both fall in this category.  So no surprise.   
 

I would guess that they have continued to sell cruises on these ships because they have no idea if and when they will sell.  
 

Just like we were offered other cruises when they stopped sailing to Cuba, folks booked will be offered something else with likely some ‘perks’.   

[VMax1700]

Just found this online.https://www.tradewindsnews.com/cruise-and-ferry/carnival-to-sell-one-costa-cruises-two-holland-ships/2-1-842327

It states 'according to brokers'

[richwmn]

2 minutes ago, tjcox9 said:

This is all I find on this, not official Carnival though.

 

https://www.cruisehive.com/holland-americas-maasdam-and-veendam-cruise-ships-expected-to-be-sold/40700

the link here says "expected to sell", so someone's idea not an official announcement

In addition, Princendam was sold and then leased back for a year to complete itineraries that were scheduled although that is not as certain now.

 

[BSR]

6 minutes ago, tjcox9 said:

This is all I find on this, not official Carnival though.

 

https://www.cruisehive.com/holland-americas-maasdam-and-veendam-cruise-ships-expected-to-be-sold/40700

Thanks for the link.

[AlanF65]

From this link it appears they are in preliminary negotiations, it sounds like they are selling ships that have no debt or that aren't pledged for other debt

 

https://www.tradewindsnews.com/cruise-and-ferry/carnival-to-sell-one-costa-cruises-two-holland-ships/2-1-842327

 

86 ships up for collateral

 

Carnival, which has $10bn in liquidity, put 86 ships up as senior-bond collateral and plans to sell 19 remaining debt-free vessels, brokers said.

 

[BJzink]

I have Maasdam booked for Alaska 2021, was cancelled for Sept. 2020.  Will be interesting to see how they cover this.  I do not want to sail on one of the larger ships.  I know she was old, but I spent more days on her than any other, and enjoyed each one.  

[rafinmd]

BIG difference between "Expected to be sailed" and Have been Sailed"  Much ado about nothing.

 

Roy

[YXU AC*SE]

The transcript from the analysts' call last week was interesting ... 

source: https://www.fool.com/earnings/call-transcripts/2020/07/10/carnival-corp-plc-ccl-q2-2020-earnings-call-transc.aspx

 

Tim Conder -- Wells Fargo -- Analyst

Okay. Okay. And on the ships that you're divesting, any commentary that you can give to us as to whether the ultimate buyer, will the majority of those be outright scrapped or will some of those ships stay in the global industry fleet?

Arnold W. Donald -- President and Chief Executive Officer

Well, first of all, we don't scrap ships, we recycle them. So, any ships that aren't sold into a market that doesn't directly interfere with our existing markets, which is what we would do. Our sales are basically into uses that are different than our uses for the ships in the markets that we're in. Then those will go for recycling. David, I don't know if you want to add any additional color? Go ahead.

David Bernstein -- Chief Financial Office and Chief Accounting Officer

Yes. Of the 13, it's just a few that are recycled. The majority are -- the intention we're told is to use them for a variety of purposes, just a few recycled at this point.

Tim Conder -- Wells Fargo -- Analyst

So, on recycle, just to be clear, should we view it as -- let me rephrase it may be those that would transport customers for cruise related services or hotel related services versus washing machines?

Arnold W. Donald -- President and Chief Executive Officer

Yes.

 

 

Jamie Rollo -- Morgan Stanley -- Analyst

Yes, thank you. My first question is just on the order book, please. It doesn't sound like that you're planning any cancellations of what sort of order? Or is it just a delay to your order book? Thank you.

Arnold W. Donald -- President and Chief Executive Officer

I didn't quite hear the question, David. If you did, please go ahead.

David Bernstein -- Chief Financial Office and Chief Accounting Officer

Yes, it sounded like I kind of -- but Jamie, you were talking about any cancellations on the order book versus delay. There were no cancellations what we were just talking about for the each ship was a delay. On average, you're probably talking about five-month delay for each of the 14 ships plus two Seabourn expedition ships that are on order.

Arnold W. Donald -- President and Chief Executive Officer

I think the most important thing there is going down to five versus nine between now and '22 though. It looks like you had a follow-on, Jamie. Go ahead.

Jamie Rollo -- Morgan Stanley -- Analyst

Well, it was the same question really. Just wondering if you're planning any cancellations, I mean nothing so far, but are you in discussions with the yards about canceling any of those ships.

Arnold W. Donald -- President and Chief Executive Officer

No, we're not in discussions about canceling ships. We're in discussions with the yards about timing of deliveries and whatnot, but not on cancelling ships. Again we're far enough out what we've talked about already that hopefully by then and we're planning to be directionally back at the capacity that we would have available at that point in time actually being deployed globally.

And at that point, again, the new ships are just far more efficient. We would regulate with demand by, again disposing of less efficient ships rather than trying to avoid bringing on the new ships. The timing of that is important to us, but we would like to have the new ships.

 

As for 'recycling',  Alang has been a favourite ...  but it appears Aliağa, TK is a new one, according to this report: https://www.tradewindsnews.com/cruise-and-ferry/turkish-recyclers-to-feast-on-royal-caribbean-and-carnival-cruiseships/2-1-842522,  which might explain ships staging in Cyprus (aside from the halloumi of course?)  Scott.  

 

 

Edited July 15, 2020 by YXU AC*SE

[JRG]

14 minutes ago, YXU AC*SE said:

Arnold W. Donald -- President and Chief Executive Officer

I think the most important thing there is going down to five versus nine between now and '22 though.

 

Nine to five it is.

[oofroggie]

I am doing 7 back to backs on the Veendam starting Jan 3 out of Tampa for a total of 96 days. It will be interesting to see what happens.

[Mary Ellen]

The Maasdam and Veendam were built earlier than this press release of the sale indicates. While the ships aren’t named, the tonnage and year built are given.

 

https://www.bonheur.no/latest-news1?SelectedRelease=http://publish.ne.cision.com/Release/GetDetail/7CDB812CA7F9D5C5

Edited July 15, 2020 by Mary Ellen

[CruiserBruce]

1 hour ago, richwmn said:

the link here says "expected to sell", so someone's idea not an official announcement

In addition, Princendam was sold and then leased back for a year to complete itineraries that were scheduled although that is not as certain now.

 

Agreed..."sold" doesn't mean it is leaving the fleet tomorrow. These things, under normal circumstances, can take a while. So jumping to the conclusion that HAL is doing something unethical is, @trishbk    at minimum, hasty, if not flat out wrong.

[Mandalay1903]

10 minutes ago, Mary Ellen said:

The Maasdam and Veendam were built earlier than this press release of the sale indicates. While the ships aren’t named, the tonnage and year built are given.

 

https://www.bonheur.no/latest-news1?SelectedRelease=http://publish.ne.cision.com/Release/GetDetail/7CDB812CA7F9D5C5

Thanks for linking to this news release. It also states, "Delivery is expected to take place in the UK during September 2020."

Edited July 15, 2020 by Mandalay1903

[YXU AC*SE]

19 minutes ago, Mary Ellen said:

The Maasdam and Veendam were built earlier than this press release of the sale indicates. While the ships aren’t named, the tonnage and year built are given.

 

https://www.bonheur.no/latest-news1?SelectedRelease=http://publish.ne.cision.com/Release/GetDetail/7CDB812CA7F9D5C5

 

Oh, there shall be rending of garments and gnashing of teeth I fear.  

 

ms Rotterdam  1997   61,849 

ms Amsterdam  2000   62,735

 

 

Scott. 

 

Edited July 15, 2020 by YXU AC*SE

[Mandalay1903]

6 minutes ago, YXU AC*SE said:

Oh, there shall be rending of garments and gnashing of teeth I fear. 

There undoubtedly will be. Amsterdam and Rotterdam are also reported as being on their way toward Suez per Vesselfinder.com

Edited July 15, 2020 by Mandalay1903

[lcand1923]

At one time, weren't these two vessels considered the Joint Flagships of HAL?

[Mary Ellen]

3 minutes ago, Mandalay1903 said:

There undoubtedly will be. Amsterdam and Rotterdam are also reported as being on their way toward Suez per Vesselfinder.com

Yes. To get to their expected layup in Cyprus the shortest route is through the Suez Canal.

[YXU AC*SE]

1 minute ago, lcand1923 said:

At one time, weren't these two vessels considered the Joint Flagships of HAL?

 

Yes.   Still are AFAIK.   Scott.