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LA Times Article..No New Cruise Ships for Princess

grandmaa

By grandmaa,
in Princess Cruises

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grandmaa

grandmaa

Posted
Posted

Just was reading an article in the Los Angeles Times Travel section. They were listing all the new ships that will be debuting in late 2009 and 2010..boo hoo NOTHING for Princess. Most of the other cruise lines have new builds. Why nothing for us?? Does anyone have any knowledge why?

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spongerob

spongerob

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How many does Princess need? Most of their ships are less than 10 years old, and they're well maintained. I don't think it makes economic sense to invest in new builds when the existing fleet is just fine. Both RC and NCL are reported to have had some difficulty financing their new ships.

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CruzVinnieCruz

CruzVinnieCruz

Posted
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How many does Princess need? Most of their ships are less than 10 years old, and they're well maintained. I don't think it makes economic sense to invest in new builds when the existing fleet is just fine. Both RC and NCL are reported to have had some difficulty financing their new ships.

 

RCL Corp is in big financial problems they just heavily financed some of their recently released ships for both RC and Celebrity. While having difficulty finding financing for ships still in the shipyards.

 

Carnival owned cruise lines tend to build ships with available cash and do not finance as heavy. I think a wait and see attitude in this economic climate is prudent. Who knows there maybe a fire sale of some RCL ships if things do not turn around soon.

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SeattleCruiselover

SeattleCruiselover

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On Golden a week and a half ago, David Cole (CD) said that Carnival Corportation (not CCL, but the umbrella company) has a number of new build hulls on order over the next several years, and it has not yet been determined which of the lines will get them, but there is talk of Princess getting at least one or two.

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CruzVinnieCruz

CruzVinnieCruz

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I don't know what you are talking about CruzVinnieCruz. Carnival Corporation does not own RCL or Celebrity.

 

I never eluded that Carnival owns RCL or Celebrity. I stated RC Corp owns them and due partly to the fact they heavily financed their latest builds for both RC and Celebrity they are in financial trouble. Add on top of that finding financing for their ships still in the shipyards they (RC Corp) are posting losses.

 

Here is an article where Mickey Arison the CEO of Carnival explains the thinking behind no new ships and it looks like Princess will not have the possibilty of a new ship before 2013.

 

http://www.usatoday.com/travel/cruises/item.aspx?ak=68499568.blog&type=blog

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Pam in CA

Pam in CA

Posted
Posted
Just was reading an article in the Los Angeles Times Travel section. They were listing all the new ships that will be debuting in late 2009 and 2010..boo hoo NOTHING for Princess. Most of the other cruise lines have new builds. Why nothing for us?? Does anyone have any knowledge why?

 

I guess that Princess does not feel that any ships need to be replaced and does not want to expand the fleet.
Actually, the REAL reason is the cost, i.e., the exchange rate for the $. There's no immediate need for another ship so they're biding their time until the dollar exchange for the Euro is more favorable. It's all about international financing, not "Gee, they have a new ship, maybe we should build one too." :)

 

A report from the Carnival quarterly earnings call:

 

"Arison said that newbuilds for the Princess brand is their first priority, but they aren't going to order until they can get a price that makes sense to them. He said they still plan to continue to grow their brands by way of new ships, but an order isn't likely to happen until at least after the first of the year, and even then, it didn't sound as if one should expect an announcement on January 2."

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weberman

weberman

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I never eluded that Carnival owns RCL or Celebrity. I stated RC Corp owns them and due partly to the fact they heavily financed their latest builds for both RC and Celebrity they are in financial trouble. Add on top of that finding financing for their ships still in the shipyards they (RC Corp) are posting losses.

 

Here is an article where Mickey Arison the CEO of Carnival explains the thinking behind no new ships and it looks like Princess will not have the possibilty of a new ship before 2013.

 

http://www.usatoday.com/travel/cruises/item.aspx?ak=68499568.blog&type=blog

 

CCL is currently in a much stronger financial position than RCL. Both however have recently seen their credit ratings lowered resulting in a higher cost of money. The long term big dollar financing of ships is not very favorable with the current banking situation and interest costs. There is also a general feeling of over capacity of the inventory of cruise berths. This, along with the general worldwide economic slow down has made building new ships a gamble. CCL is being conservative and spending money on refurbishing their current fleets.

 

On the other hand CCL can't let their ship inventory get stale. The frequent cruiser crowd like to see new ships. As the CEO of CCL Mickey Arison stated it takes years to get a ship from the drawing board to launch.

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Shogun

Shogun

Posted
Posted

Hi All,

 

Its all about value to us the consumer, just now better the use there $ to up grade and maintain the fleet.

 

Next would be staffing there is a limited number of good folk in the cruise industry, as such their cost goes up the more ships that are out there.

 

Then with some cruise lines in real trouble better to save your $ and buy another brand on the cheap.

 

yours Shogun

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WeBeGone

WeBeGone

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When the Ruby came out, we were on the maiden voyage. The captain announced that there would be no new ships until the whole fleet was brought up to the standards of the Ruby. It is expected to take 4 years to upgrade the fleet so I don't expect any new ships for at least 4 years.

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christinelee

christinelee

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Princess brought out several new ships in the past three years - perhaps the line is taking a rest and upgrading their older ships as others have noted. I suspect their fleet is one of the youngest in the industry.

 

Not only the youngest fleet but the most beautiful.....When the CCL starts sending out ships with empty cabinns they will build......Has anyone been on all of the Princess ships yet?

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Colo Cruiser

Colo Cruiser

Posted
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Colo Cruiser,

Where did you see the new build for Princess (taken from a sister line). I did not see this on some of the future boards.

 

Thank you

 

Captain Foster onboard the Golden in June announced it at the Captains Circle party.

 

It is to be similar to the Ruby and about 90 ft longer with not much more capacity.

Now could things change with this? Of course.

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DeepWaterMariner

DeepWaterMariner

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It's all about the world economy and the outlook for future business. The new ships that are coming out were ordered before the financial crisis hit and there has been very little in the way of new orders since then. Royal Caribbean struggled with the financing of the Oasis and have a sister ship coming along too, but they were booked with the ship builders in rosier times.

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