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Oasis incident at Freeport Shipyard

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3 minutes ago, chengkp75 said:

I'm not sure that any floating docks have been built in the last 20 years or so, they tend to be costly to construct and they take up a graving dock slot while under construction.

What do you think GBSY is going to do to replace the dock?

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1 hour ago, Pratique said:

What do you think GBSY is going to do to replace the dock?

To be honest, I think they are looking at a graving dock, they just need to get the environmental permits.

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VIGOR built (had built) a 960 footer in 14

 

https://vigor.net/news-press/countrys-largest-floating-drydock-coming-to-portland

 

"The drydock was constructed by Shanghai Zhenhua Heavy Industries in Jiangsu Province, China, and is being delivered to Portland aboard the Blue Marlin, a semi-submersible heavy lift ship owned by Dockwise Ltd. "

 

It was built in sections and shipped in sections for final assembly on site.

 

 

Edited by Capt_BJ

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42 minutes ago, chengkp75 said:

To be honest, I think they are looking at a graving dock, they just need to get the environmental permits.

I had read a while ago in the Bahamian press that they were looking to purchase a secondhand dock, but that seemed like a very preliminary statement and I haven't heard anything since.

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1 hour ago, Capt_BJ said:

VIGOR built (had built) a 960 footer in 14

 

https://vigor.net/news-press/countrys-largest-floating-drydock-coming-to-portland

 

"The drydock was constructed by Shanghai Zhenhua Heavy Industries in Jiangsu Province, China, and is being delivered to Portland aboard the Blue Marlin, a semi-submersible heavy lift ship owned by Dockwise Ltd. "

 

It was built in sections and shipped in sections for final assembly on site.

 

 

 

 

$50,000,000 sounds pretty cheap. Royal and Carny have it 

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1 hour ago, bilyclub said:

 

 

$50,000,000 sounds pretty cheap. Royal and Carny have it 

And that's for a dock that is about 2/3 the size needed for Oasis.

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20 minutes ago, bilyclub said:

 

 

$50,000,000 sounds pretty cheap. Royal and Carny have it 

That's the revenue from 3 or 4 sailings I'd wager.

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2 hours ago, chengkp75 said:

To be honest, I think they are looking at a graving dock, they just need to get the environmental permits.

A graving dock would be a better investment over a floating dock correct? Especially over the long term (cost efficiencies) with the addition of so many larger ships to RCCL's fleet and even Carnival will get bigger and bigger.

 

Are there extra special environmental issues with a graving dock over a floating dock? I would think a graving dock would be better for the environment than a floating dock...IMHO.

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21 minutes ago, Pratique said:

That's the revenue from 3 or 4 sailings I'd wager.

 

Revenue does not equal profit.

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1 hour ago, OACAggie said:

A graving dock would be a better investment over a floating dock correct? Especially over the long term (cost efficiencies) with the addition of so many larger ships to RCCL's fleet and even Carnival will get bigger and bigger.

 

Are there extra special environmental issues with a graving dock over a floating dock? I would think a graving dock would be better for the environment than a floating dock...IMHO.

Building a graving dock is a dredging operation, so there is the question of what that does to the eco system in the port area, and what do you do with the dredged spoils.  Those are the environmental issues, a floating dock is essentially just another ship.  There are also drawbacks to floating docks, in that it is easier to contain the debris from a drydocking (blasting grit, paint chips, oil, etc) in a graving dock than in a floating dock that essentially has open ends.

 

Absolutely a graving dock would be a better investment, it would save on the Oasis ships transiting to Europe, especially when they get over the 15 year mark (Oasis is 11) and have to actually drydock twice in 5 years.

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2 hours ago, Host Clarea said:

 

Revenue does not equal profit.

I offered it as a comparison measurement. RC operates in a world with many zeros at the end of the numbers.

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From the RCCL 10Q SEC filling yesterday. For context, the quarterly earnings per share was $4.20. As additional context, RCCL lost 13 cents per share due to hurricane disruption during the quarter and an additional 13 cents due to cancellation of Cuba sailings.

 

Quote

The estimated negative impact resulting from the Grand Bahama drydock structure incident involving Oasis of the Seas, net of insurance recoveries and including our share of the write-off of the related drydock by Grand Bahama, is approximately $0.02 and $0.28 per share on a diluted basis to our Net Income attributable to Royal Caribbean Cruises Ltd. for the quarter and nine months ended September 30, 2019.

Edited by Biker19

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1 hour ago, Biker19 said:

From the RCCL 10Q SEC filling yesterday. For context, the quarterly earnings per share was $4.20. As additional context, RCCL lost 13 cents per share due to hurricane disruption during the quarter and an additional 13 cents due to cancellation of Cuba sailings.

 

 

 

"The estimated negative impact resulting from the Grand Bahama drydock structure incident involving Oasis of the Seas, net of insurance recoveries and including our share of the write-off of the related drydock by Grand Bahama, is approximately $0.02 and $0.28 per share on a diluted basis to our Net Income attributable to Royal Caribbean Cruises Ltd. for the quarter and nine months ended September 30, 2019."

 

I wonder if this also includes the additional costs of cancelling cruises on the Celebrity Equinox and the cost of the trip to Spain for it's drydock?  I also wonder about the magnitude of other losses due to cruise cancellations and other expenses, such as for the Celebrity Silhouette, that also must find other drydock facilities.

Edited by ipeeinthepool

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1 minute ago, Biker19 said:

Not sure how they are doing it but the Freeport dry dock is supposed to host Carnival Sensation (1/6-17), Celebrity Silhouette (1/4-2/13) and Freedom (1/12-3/7).

 

https://www.cruiseindustrynews.com/cruise-news/22134-key-drydocks-in-january.html

 

At least for the Silhouette, that's not accurate.  The Silhouette is scheduled to leave Port Everglades for Spain tonight at 8.  I think they have already used the smaller dry dock for a smaller ship a couple of months ago.

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2 hours ago, Biker19 said:

Not sure how they are doing it but the Freeport dry dock is supposed to host Carnival Sensation (1/6-17), Celebrity Silhouette (1/4-2/13) and Freedom (1/12-3/7).

 

https://www.cruiseindustrynews.com/cruise-news/22134-key-drydocks-in-january.html

While it is tight, all three ships can be accommodated in dock #2, and the photo of Freedom (the largest of the three ships you mention), is with the ship in dock #2.

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On 10/9/2019 at 4:46 PM, Pratique said:

That's the revenue from 3 or 4 sailings I'd wager.

Not even close to that. $6M - $9M on an average size ship including on board revenue & cruise fare. Plus the running costs for a ship are massive.

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On 1/4/2020 at 11:15 AM, OldSeaDog1969 said:

Not even close to that. $6M - $9M on an average size ship including on board revenue & cruise fare. Plus the running costs for a ship are massive.

about 209.6M shares so about $60M USD.

 

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