Regent new build?

[Threechicks]

http://www.travelpulse.com/regent-seven-seas-in-talks-with-european-shipyard-to-build-new-ship.html

 

Sounds interesting.

[TedC]

Pictures of Oceania's new-build, Marina, were VERY impressive! I presume new Regent ship will be even more beautiful - if possible - WOW!

[AWED23]

Great news. The fact that they are planning 50000 tons and 700 pax capacity is also great......Score one for Marc Conroy and frank Delrio.

[Travelcat2]

Looking forward to the day they actually place the order. I believe they will. . . . just not sure when.

[cruiseluv]

I'm not getting too excited over this. We have heard this tune several times in the last 4-5 years. It's interesting they have had 2 new builds for Oceania and none for Regent.

[bissel]

This was announced during our cruise at the Society party on the Venice-Monte Carlo sailing. As they kept stressing that this would be built when the economy recovered, there was no collective sharp intake of breath.

[OrpingtonT]

It is good news and I have confidence that the order will be placed to take advantage of the forthcoming upturn in the world economy.

[xplrcrzn]

"Forthcoming upturn in the world economy?" That's quite a scoop. Even CNN hasn't heard about that.

[Wendy The Wanderer]

I agree, the world economy's in the tank. I'm not holding my breath waiting for this new build. I continue to be amazed that Regent claims to be doing so well.

[OrpingtonT]

"Forthcoming upturn in the world economy?" That's quite a scoop. Even CNN hasn't heard about that.

 

I am an optimist and believe the world economy will improve one day and it is right to be ready. Unless investment is made the future is indeed black. I don't know, or care much, what CNN thinks about that.

 

Otherwise you can pack your money in your suitcase and watch it deteriorate.

[Hambagahle]

You are SO right, Tom. This is the time to invest in infrastructure for companies - rates have never been so low and won't stay low for ever! And if regent's occupancy rate now is high, imagine what it could be when things do improve.. 3 ships are not enough.

 

I have never understood why the second Oceania ship was not "diverted" to Regent!!

[cruiseluv]

I have never understood why the second Oceania ship was not "diverted" to Regent!!

 

Could it be that the Oceania business model is more succesful at filling their ships? I would imagine that the savvy FDR and his partners made this decision based on real financial results. To me this speaks volume of which company is more viable.

[hondorner]

There were real incentives to build an almost exact copy of Oceania Marina. At the time of Marina's float-out, the same day that Riviera was announced and construction started, all of Fincantieri Shipyards was barely hanging on, and Fincantieri Sestri in Genoa, where Riviera is under construction, was particularly hard-hit. Riviera is currently the only project under construction at Genoa, and the bow section was constructed at Fincantieri Naples!

 

As a result, PCH was able to get the shipyard's best price and some important incentives for awarding a new contract at that time. Much of it depended, however, on being able to duplicate the ship.

 

The original contract for Marina always included an option for two more ships. The second was always going to Oceania, and the third was heavily rumored to have the same hull design as the Marina class (66,000 tons) but have fewer and larger staterooms to better serve Regent. With the continued economic woes and the shaky status of Fincantieri, the second option -- the third ship, probably intended for Regent -- was dropped permanently. Without the sweetheart deal with the shipyard, the first option (Riviera) would also have been dropped.

 

Now, with the continued success of PCH and Regent, and Apollo

s obvious happiness with that situation, Regent is again in the market for a ship. Note the important differences -- Mr. Conroy hinted that the ship would be about 50,000 tons (not 66,000 like the Marina class) and that they are in discussions withseveral shipyards, not just Fincantieri. Therefore, it's a pretty safe bet that this will bea custom designed and constructed ship for Regent, not a copy or modification of the Oceania ships.

 

I agree with Tom that companies like PCH must plan for investment and take advantage of good timing or the economy will get worse before it gets better. There are real signs that this is happening even if certain factions refuse to believe it.

[cruiseej]

From the article: "Conroy said 2010 and 2011 have been the best years ever for Regent Seven Seas."

 

From bissel's Society party on the Venice-Monte Carlo sailing: "they kept stressing that this would be built when the economy recovered."

 

Isn't there something incongruous here? If you're truly having record years when the economy is in the dumps, wouldn't it be a no-brainer to build the new ship knowing the economy will eventually get better and while interest rates are low? And considering there's a two year gap from pulling the trigger to having a ship on the market, if you're doing well, why would you wait until after the economy recovered to make the decision to build? To me, it casts doubt on Mark Conroy's statement.

 

-- Eric

[Travelcat2]

Regent deeply discounted some itineraries this year -- more than I have seen in the past. Oceania also had significant discounts -- even for Marina itineraries. I am wondering if 2010 and 2011 are the "best years" from the standpoint of filling ships or making profits:confused:

 

Azamara could be affecting bookings on Oceania. There are some excellent reviews coming from Azamara customers. This is competition that was not as strong in past years. The timing of the new ship may not have been right but will probably pay off in the long run.

 

Regent, on the other hand, remains at the top of it's game against it's competition (IMHO). Silversea is what it is. . . . either you like it or you don't. It is quite different than Regent. Their pricing for 2012 seems high compared to Regent. Seabourn continues to discount their cruises, however, they do not include air and airfares have been higher than ever. Crystal is a question mark for 2012 when it becomes all-inclusive. Time will tell if it presents competition to Regent.

 

Regent could really use a ship to replace the Navigator (probably not a popular opinion). Almost 100 million dollars has been put into the Navigator and it would seem prudent to look towards selling her when the economy improves. It would be costly if the type of repairs already done on the Navigator had to be repeated in another 3-4 years.

 

I hope to see a Regent new build announcement in 2012:)

[AWED23]

I have been told by A person in Fort Lauderdale who is very much involved that the new build will be scheduled for 2014 and it will be 1 meter wider and 10 meters longer than the Mariner and therefore should be as Seaworthy as the Mariner...All negotiations are still pending however...I believe we will see an announcement by New Years. This really is good news for those of us who truly believe REGENT ROCKS ! :D...

[shawsie]

really hope this transpires. We may even rise to the level of CRYSTAL - Right suites :p

[AWED23]

There were real incentives to build an almost exact copy of Oceania Marina. At the time of Marina's float-out, the same day that Riviera was announced and construction started, all of Fincantieri Shipyards was barely hanging on, and Fincantieri Sestri in Genoa, where Riviera is under construction, was particularly hard-hit. Riviera is currently the only project under construction at Genoa, and the bow section was constructed at Fincantieri Naples!

 

As a result, PCH was able to get the shipyard's best price and some important incentives for awarding a new contract at that time. Much of it depended, however, on being able to duplicate the ship.

 

The original contract for Marina always included an option for two more ships. The second was always going to Oceania, and the third was heavily rumored to have the same hull design as the Marina class (66,000 tons) but have fewer and larger staterooms to better serve Regent. With the continued economic woes and the shaky status of Fincantieri, the second option -- the third ship, probably intended for Regent -- was dropped permanently. Without the sweetheart deal with the shipyard, the first option (Riviera) would also have been dropped.

 

Now, with the continued success of PCH and Regent, and Apollo

s obvious happiness with that situation, Regent is again in the market for a ship. Note the important differences -- Mr. Conroy hinted that the ship would be about 50,000 tons (not 66,000 like the Marina class) and that they are in discussions withseveral shipyards, not just Fincantieri. Therefore, it's a pretty safe bet that this will bea custom designed and constructed ship for Regent, not a copy or modification of the Oceania ships.

 

I agree with Tom that companies like PCH must plan for investment and take advantage of good timing or the economy will get worse before it gets better. There are real signs that this is happening even if certain factions refuse to believe it.

Don, I think you scored a bulls eye here....

[gnld]

I think we would all agree that Regent is past due for a new build! (Could say the same thing for Crystal.)

If it does come to pass in 2014, will they keep Navigator much beyond that? Oceania is already leasing out the Insignia for 2 years come April of next year, just as the Riviera comes online.

Gary

[Rickey 88]

Don is quite correct in his information - PCH had contracted with Fincantieri for three new ships, designed by Y & S in Norway. They were to have been identical in hull design, but with the ability to modify the interiors, so as to allow one of them to be a Regent ship, if desired.

 

Unfortunately, the option on that third ship was allowed to expire, and it appears as if Regent has decided to modify the overall design so as to give them a smaller ship.

 

Stay tuned and Keep listening.....