Cyprus and Louis Cruises

[davecttr]

Louis Cruises is a Cypriot company quoted on the Cyprus stock exchange

 

The stock exchange has suspended trading

 

Cyprus has basically gone bust

 

They charter 2 ships to Thomson

 

Thoughts :eek:

[CRUISIN LINDA]

Oh thanks Dave, just thinking we might book the Spirit for September :rolleyes:

 

Maybe Louis will give the ship to Thomson - not:D:D

[stevedeccaman]

Might be interesting :cool:

 

Stevie

[davecttr]

Oh thanks Dave, just thinking we might book the Spirit for September :rolleyes:

 

Maybe Louis will give the ship to Thomson - not:D:D

 

Well i was going to book Majesty for next summer but if it all goes pear shaped i could well end up in a noisy cabin on a substitute ship. I am not willing to risk this based on Thomsons could not care less attitude to customers in such matters. now checking out Princess and NCL instead.

[Sailaway487]

Hopefully everything will be fine, and Louis won't be affected. Whether in the long term though, this is going to have an impact on Thomson's decision to continue leasing from them, it could do, especially as this decision I would think will be being made currently or very soon.

 

We will see what happens, but I think everything should be fine. :cool:

[stevedeccaman]

Operating Ships

MV Orient Queen – Operates cruises from the Eastern Mediterranean;[17][18] previously Bolero.

MS Cristal – Operates cruises from the Eastern Mediterranean;[17][18] previously Silja Opera.

MV Coral – Resumes cruises from the Eastern Mediterranean in April 2013;[19] previously Triton.

 

 

 

MV Thomson Sprirt, one of the two Louis ships under charter to Thomson Cruises

MS Thomson Spirit – Under charter to Thomson Cruises until 2014;[20] previously Patriot / Spirit.

MS Thomson Majesty – Under charter to Thomson Cruises; previously Louis Majesty.

[edit]Ships not in active service

The Calypso – Not operating at the moment, but could be put back into service;[17] previously Regent Jewel.

MS Louis Olympia - No longer in active service at the moment; previously Thomson Destiny.

[Barkeeper]

Louis Cruises is a Cypriot company quoted on the Cyprus stock exchange

 

The stock exchange has suspended trading

 

Cyprus has basically gone bust

 

They charter 2 ships to Thomson

 

Thoughts :eek:

 

The problem is for shareholders in Louis Cruises, they can't sell while stock exchange is suspended. If LC are deeply in debt to a failed Cypriot Bank it would make no sense to foreclose when a profitable charter is ongoing. To be honest the sale value of 30 year old cruise ships must be zilch, much better to keep the cash coming from a charter. Have an interest here, on Spirit 3rd August from Harwich to Norway.

[Jakanne1]

Louis Cruises is a Cypriot company quoted on the Cyprus stock exchange

 

The stock exchange has suspended trading

 

Cyprus has basically gone bust

 

They charter 2 ships to Thomson

 

Thoughts :eek:

 

Thoughts? Thanks Dave! Got 2 cruises booked on Majesty! :eek::eek:

[chrisda4]

Thoughts? Thanks Dave! Got 2 cruises booked on Majesty! :eek::eek:

 

Likewise were due to go on the Majesty in 4 weeks time:eek::eek::eek:.

[happy v]

Louis Cruises is a Cypriot company quoted on the Cyprus stock exchange

 

The stock exchange has suspended trading

 

Cyprus has basically gone bust

 

They charter 2 ships to Thomson

 

Thoughts :eek:

 

Stockexchanges always suspend trading when there is a monetary crisis.

The only problem would be if all their money is tied up in the collapsed bank. As most of the financial world seemed aware of the problems I would doubt this. However if they are facing hardship and can't survive the levy which has been passed I would agree with Barkeeper the auditors would keep revenue comming in till a buyer could be found.

In simpler terms....I think we're all safe.:rolleyes::).

[Sailaway487]

With the chartering that Louis Cruises do, I would think (and hope) that they should be fine. In fact, it seems that they are increasing their chartering business with a ship going to Cuba at the end of this year. Maybe they realise that this is where they can make money at the moment, as I doubt many Greeks will be taking cruises at the moment. But, the amount of ships they have for sale (i.e. almost all) is quite worrying. :eek:

 

One thought, sort of related to this, we all know that Majesty and Spirit's contract are ending next year, and we now know Spirit is a definite for next summer, but what about Majesty? :confused: It was on the Palma schedules, but now Dream has replaced it (no swap :(), but I'm now wondering if that is because Majesty isn't sailing next year at all perhaps? Then again, I can't find Celebration either, and I would have thought, if Majesty was to go, Spirit would be sailing from Corfu, thus Celebration doing ex-UK which it isn't. In fact, as I write this now, I realise I'm talking rubbish! :D :D

 

I do think though that the current economic problems of Cyprus will factor into the decision in terms of Thomson extending leases. If they are going to continue to lease, leasing a ship from the big 3 is safer financially.

[Rebel Rouser]

The Minister of Ttransport of Cyprus, Tasos Mitsopoulos said that the shipping registry will not suffer from the financial crisis. He explained that the impact of the banking problems will not have crucial impact on the local shipping industry. It is known that none of the banks of Cyprus is financing the ship companies and the sector.But these assurances will not help companies with bank deposits and will suffer from the financial crisis. The most of the shipping companies could lose 40% on amounts over 100,000 Euro. The local industry could also suffer from restrictions.

 

 

 

Just found this?

[Sailaway487]

Just found this?

 

So, a positive with a bit of a negative. In the short term at least, with no links with the Cyprus banks, hopefully Louis will be fine.

[geomagot]

i suspect that louis will probably have their money stashed somewhere like the caymen islands;) or maybe even under a rock in the galapagos! where its safe