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Silversea buys Crystal Endeavor


Mr Luxury
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thanks for sharing Mr luxury look forward to tryin this new member of Silversea’s expedition fleet.  wonder when the Endeavor will begin service?  according to cruise news maybe the 22-23 Antarctica season and will be christened Silver Endeavor 

Edited by WesW
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2 hours ago, WesW said:

thanks for sharing Mr luxury look forward to tryin this new member of Silversea’s expedition fleet.  wonder when the Endeavor will begin service?  according to cruise news maybe the 22-23 Antarctica season and will be christened Silver Endeavor 

 

YES!!  Great, interesting news from Mr Luxury.  Excellent questions from WesW.  Look forward to learning much more.  What was the price paid??

 

THANKS!  Enjoy!  Terry in Ohio

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On the Crystal CC Board (what is left of that posting site), they had a link to the trade story with this headline: Silversea Set to Acquire Crystal Endeavor with these highlights:Silversea Cruises is set to operate the Crystal Endeavor, as the luxury cruise line has acquired the 200-guest vessel.  In addition, Silversea has filed to trademark the name Silver Endeavor (and Silver Endeavour) on June 8 with the United States Patent and Trademark Office.  The ship is currently in Gibraltar and could sail for Silversea as soon as later this year following a rebrand, lining up with the 2022-2023 Antarctica season.  After being delivered to Crystal Cruises from MV Werften in 2021, the luxury expedition ship completed an inaugural Iceland season and a handful of Antarctica cruises before Crystal wound down operations in early 2022.

 

No price was given or listed.  But the story reported: "Sources told Cruise Industry News that multiple cruise lines put in bids for the ship, including brands that were not in the expedition market."

 

Many of the Crystal faithful posting were very happy that Silversea would keep some form of the Endeavor name for the future.

 

Full story at:

https://www.cruiseindustrynews.com/cruise-news/27683-silversea-set-to-acquire-crystal-endeavor.html

 

THANKS!  Enjoy!  Terry in Ohio

 

Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,444 views.

www.boards.cruisecritic.com/showthread.php?t=1227923

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Here's a link to a brief news story about it.

 

[Edit: Terry beat me with the link.]

 

https://www.cruiseindustrynews.com/cruise-news/27683-silversea-set-to-acquire-crystal-endeavor.html

 

No price is mentioned, but it does say Silversea outbid several other cruise lines why tried to acquire the ship. 

 

It's not too surprising that this brand new ship is the first Crystal asset to be sold. Perhaps it's a little surprising that Manfredi Lefebvre D'Ovidio, who built Silversea before selling it, didn't emerge with the ship. He has offered to buy all or part of Crystal through his Heritage Group venture capital firm, which owns 90% of Abercrombie & Kent. Although the Endeavor is a smaller expedition ship, it's the gem among Crystal's otherwise older ships. This also probably dashes hopes some Crystal faithful had of someone buying and reviving the brand intact. 

Edited by cruiseej
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And now "Seatrade Cruise News" claims that this may not be a done deal.  Or maybe there is some aspect of the deal process that prohibits a public announcement at this particular time. 

 

https://www.seatrade-cruise.com/expedition-cruising/silversea-cannot-confirm-if-its-acquiring-crystal-endeavor

 

Edited by Hanoverian
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1 hour ago, rkacruiser said:

If Silverseas does acquire the Crystal Endeavor, I think it will be a smart business decision.

 

If Silversea wants to switch us from the Cloud to the Endeavor for our December Antarctica trip, I'd be fine with that. 😂

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1 hour ago, cruiseej said:

 

If Silversea wants to switch us from the Cloud to the Endeavor for our December Antarctica trip, I'd be fine with that. 😂

My question is how will they market Explorer once Endeavor is in the fleet?  Any statistical comparison shows Explorer as an outlier in the Silversea fleet [and NOT in a good way...]

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1 hour ago, Stumblefoot said:

Explorer has already been sold to the founder of Ponant and his new company. The sale was announced in January.

They're still offering cruises on Silver Explorer through Nov. 2023???

https://www.silversea.com/destinations/cruises-south-pacific-islands/papeete-tahiti-to-valparaiso-e1231027023.html

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  • 2 weeks later...
1 hour ago, Stickman1990 said:

Did anyone see a fat lady singing?   Perhaps it’s not a done deal after all?
https://www.seatrade-cruise.com/finance/ritz-carlton-and-crystal-cruises-still-interested-crystal-endeavor?

 

Interesting article and update!!  That's big money being discussed as a potential selling price for this expedition ship.  Does the former Silversea owner really have that kind of serious money to spend and invest?  To buy it and operate this ship?

 

THANKS for sharing!  Enjoy!  Terry in Ohio

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17 minutes ago, Host Jazzbeau said:

Apparently Ritz Carlton is offering the outrageous sum it cost to build this [over-built] ship.


They’re mad if they are - over capitalised

and it’s “as is where is” as there’s no shipyard to go back to for faults 

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6 hours ago, Stickman1990 said:


They’re mad if they are - over capitalised

and it’s “as is where is” as there’s no shipyard to go back to for faults 

I wouldn't buy a car without a warranty let alone a ship.

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4 hours ago, Mr Luxury said:

I wouldn't buy a car without a warranty let alone a ship.

 

Great, above funny, honest line/comment!! 

 

Given yesterday's huge slide in stock market values assigned to the three major cruise lines, economic "REALITIES" need to be considered when bidding on such "used" ships.  The financial "laws" cannot be ignored as to what certain assets might be worth. Or, not!!

 

Be interesting to see what finally happens.  But, with a looming recession coming later this year, even rich folks/companies need to be careful as to what they buy and how they make the financial numbers work for capital and operating purposes.  

 

THANKS!  Enjoy!  Terry in Ohio

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11 hours ago, Host Jazzbeau said:

I have a feeling that the bidding war has now passed their budget.  Apparently Ritz Carlton is offering the outrageous sum it cost to build this [over-built] ship.

Perhaps the used Luxury Ship market is going the way of the used car market.😃

Edited by highplanesdrifters
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3 hours ago, TLCOhio said:

 

Great, above funny, honest line/comment!! 

 

Given yesterday's huge slide in stock market values assigned to the three major cruise lines, economic "REALITIES" need to be considered when bidding on such "used" ships.  The financial "laws" cannot be ignored as to what certain assets might be worth. Or, not!!

 

Be interesting to see what finally happens.  But, with a looming recession coming later this year, even rich folks/companies need to be careful as to what they buy and how they make the financial numbers work for capital and operating purposes.  

 

THANKS!  Enjoy!  Terry in Ohio

Hi Terry,

I have had a lengthy discussion with my TA today.

He tells me that bookings are strong in the UK for luxury cruises and he has never been busier.An interesting point that he made was that cruise lines have only had about six months to fill ships after covid instead of the usual eighteen months.

Let us hope that a deep recession will not overtake the situation and slow down bookings. 

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34 minutes ago, Mr Luxury said:

Hi Terry, I have had a lengthy discussion with my TA today.

He tells me that bookings are strong in the UK for luxury cruises and he has never been busier.  An interesting point that he made was that cruise lines have only had about six months to fill ships after covid instead of the usual eighteen months.  Let us hope that a deep recession will not overtake the situation and slow down bookings. 

 

Great information and update.  Appreciate these comments and follow-ups from the important UK.  Yes, we can hope for the better times ahead, but today in U.S., per an Associated Press poll in the Washington Post, 85% view our nation as headed in the wrong direction and nearly 80% view the economy as "poor".  Not a great vote of confidence for the future.  

 

Just talked earlier this week with a long-time, good friend in New York City who has been plugged in with the various, high-level financial types there in that NY-NJ region for decades.  He is seeing lots of travel and spending, now, this summer, as people recover from two years of being cooped up and shutdown.  

 

BUT, coming in September is when things, he believes, really "hit the fan" as per the looming recession, financial tightening, etc.  Lots of "storm clouds" and "choppy waters" are lurking.  That will have its serious impacts on the cruise business and other related fields.  He provided me with more specifics and many details to back up his future, sad prediction.  We can all hope and wish, but we need to be prepared for future realities.  What goes up, sometimes goes down? 

 

THANKS!  Enjoy!  Terry in Ohio 

 

Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,543 views.

www.boards.cruisecritic.com/showthread.php?t=1227923

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