NCL explains reason for not picking up third F3

[Cruising89143]

Article is here at Seatrader. Also states that the first F3 has been pushed back to first quarter of 2010.

 

http://www.cruise-community.com/ShowStory.asp?ID=12748

[TPEINC1958]

Could you paraphrase for those of us not registered at Seatrader?

 

John

[Cruising89143]

Basically NCL has stated that since ordering the ships that they have made quite a bit of changes and are not though with pricing out those changes for the first two F3 ships. They still have plans try and extend the option and eventually order a third F3.

[TPEINC1958]

Thank you.

 

I did get to read the actual article, that was posted here, before it was deleted.

 

John

[Cruising89143]

Thank you.

 

I did get to read the actual article, that was posted here, before it was deleted.

 

John

 

The reason that I did not post the full article is that there is a copyright and those cannot be posted here.

[electricron]

I'm not regristered at that web site either.

While NCL has made a few changes to the design of the F3 class, on the aft end of these ships per the FEC reports, I believe they couldn't find the financing to go ahead and order the third ship in the option period. Probably the reason why Star Cruises encouraged Apollo Management to step into the fray, so to speak.

 

Never-the-less, NCL could order another F3 class ship later this year or next year at full price. Or another two F3 class ships. All they lost by not ordering the third in the option period was the $50 Million savings.

 

When you're borrowing up to $1 Billion per ship, $50 Million is just 5% of the total debt incurred per ship.

[MrLee]

When you're borrowing up to $1 Billion per ship, $50 Million is just 5% of the total debt incurred per ship.

 

I'd love to be your banker if you don't mind a 5% increase in cost! ;)