Apollo Management L.p. Makes Strategic Investment In Oceania Cruises

[Jancruz]

APOLLO MANAGEMENT L.P. MAKES STRATEGIC INVESTMENT IN OCEANIA CRUISES

Oceania Cruises to Remain an Independent Brand

 

http://www.oceaniacruises.com/T_MainContentPage.aspx?PageUID=ff31de0e-912e-46fb-bf54-9dfc4f87b228&PRUID=ece42d73-43e4-463e-958b-f4c61bff3eeb

 

 

 

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[dougnewmanatsea]

Having feared that they would wind up in the hands of RCL or Carnival, I am thrilled that OCI will remain independent. (Yes, I know, they're now owned by someone, but they always had shareholders.)

 

My hope is that this will lead to a situation where they have the financial resources of huge owners but their own totally independent management. It doesn't get better than that.

[digby]

"Oceania Cruises® is the world’s only upper-premium cruise line."

 

Only? I think Crystal and Silversea might not agree.

[dougnewmanatsea]

"Oceania Cruises® is the world’s only upper-premium cruise line."

 

Only? I think Crystal and Silversea might not agree.

If you called them "upper-premium", they would be insulted ;) .

 

Those lines consider themselves in the "luxury" category. Celebrity and HAL are examples of "premium" lines while Carnival, NCL, Princess and Royal Caribbean are "contemporary", "mainstream" "mass-market" or "standard".

 

Oceania aims to sit in its own "upper-premium" niche between "premium" and "luxury".

[hondorner]

I much prefer "Upper Premium" to "Lower Luxury". :D

[brian_uk]

I prefer Upper Lower which covers everything and will lead to Bunk Beds in all ships

 

Brian

[Aussie Gal]

I think it is great news that Oceania will still be independent and not part of the big conglomerates that are now running the cruise line industry.

 

I don't care what name it is given - "upper-premium, lower luxury" as long as it keeps its high standards and great staff.

 

Jennie

[gr8aunt]

Didn't Renaissance also initially have someone assume its debt. Let's hope it's not dejavu

[parkbcmr]

Hello

 

I am a Cruise Critic member- also a financial writer by profession and I am trying to put together a quick article for Janes Transport Finance about Oceania. It will need to go one or two levels beyond the Press Release re Oceania and Apollo and try to describe what's going on.

 

If anybody can guide me towards info about Oceania debt from Lehman Brothers and UBS (?), put in place when they took out CruiseInvest LLC several months ago, I would be very grateful, please contact me on email at bdp1 at conconnect dot com .

 

On the writing front- I recently wrote about RCCL Eurobond offering and followed up with a fab cruise on "Freedom of the Seas" returned to Miami yesterday.

 

Very best

 

Barry Parker (aka " parkbcmr " )

bdp1 at conconnect dot com

[mike35]

I prefer Upper Lower which covers everything and will lead to Bunk Beds in all ships

 

Brian

 

That's bunk, and you know it, Brian.

 

Mike

[drwong]

Leon Black has a great eye for investment opportunities. He invests capital for his investors that earn significant returns, but he's also willing to sell a company if he can make an even bigger profit for his clients (noting his history with the AMC theater chain). In other words, it'll be great if Oceania can remain successful, but not too successful! :D

[Andy]

APOLLO MANAGEMENT L.P. MAKES STRATEGIC INVESTMENT IN OCEANIA CRUISES

Oceania Cruises to Remain an Independent Brand

 

http://www.oceaniacruises.com/T_MainContentPage.aspx?PageUID=ff31de0e-912e-46fb-bf54-9dfc4f87b228&PRUID=ece42d73-43e4-463e-958b-f4c61bff3eeb

 

 

 

*****

 

Hi Jan !

 

So what is your take on this ? Do you feel it is good news or bad news ? I would think it should be a great way for Oceania to get larger as they will have some deep pockets behind them, and stay independent. It sounds like a good situation for them.

 

I look forward to hearing your thoughts.

[Rat]

Is this the same Apollo that hire's the ship staff?

 

Ray

[Shoreside]

No -- this is the New York firm headed by Leon Black. They have wide-ranging investments including one pending for Harrahs, the largest casino operator in the US.

[m steve]

I have wanted to cruise w/Oceania but the overly restrictive smoking policy has stopped my partner. We prefer to take a balcony cabin so she can have a smoke without having to get dressed and wander about the ship in the night or early morning. Also while having a drink on the balcony during sail away. We don't need a space inside the ship for a smoke. This one rule has kept us off Oceania and hopefully it will change and we can dump X, Princess, HAL, etc.

[orchestrapal]

Most of us on this board would like the NON-SMOKING policy to stay just the way it is, if not to eliminate smoking altogether.

I don't think FDR has any plans to go backwards to having smoking.

Guess we'll have to miss you.:rolleyes:

[hondorner]

I used to let cigarettes control my life, too.

[Jancruz]

Hi Jan !

 

So what is your take on this ? Do you feel it is good news or bad news ? I would think it should be a great way for Oceania to get larger as they will have some deep pockets behind them, and stay independent. It sounds like a good situation for them.

 

I look forward to hearing your thoughts.

 

Hi Andy,

I am very happy and excited, I think this is great news..staff stays as is, things go onward but upward..IMHO we will see some great things happening with FDR and Bob at the helm..

 

Jan

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[mdmourges]

Smoking on one's balcony is not only hazardous to one's health, it is also anextreme fire hazard, a la the episode on Princess. I don't think smoking is allowed on ANY balcony, regardless of cruiseline for this very reason. Non-smoking ships work for me.

 

Mark

[Cruise Junky]

I don't think smoking is allowed on ANY balcony, regardless of cruiseline for this very reason. Non-smoking ships work for me.

 

Mark

 

I think smoking is allowed on every balcony except Oceania. It's also the reason we don't cruise them. Hubby smokes, not me.

[Rickey 88]

Is this the same Apollo that hire's the ship staff?

 

Ray

 

Not the same.... Apollo Ships Chandlers takes care of all the provisioning for Oceania, stocking fruits, vegetables, etc. at various ports around the world. In Europe, they also maintain the facilities for interviewing, hiring and supplying on board staff. Take a look at their site at: http://www.apolloships.com/Aboutus.asp

 

Apollo Management is an entirely different entity and has been extensively covered elsewhere. Both of these two firms are and will be an asset to Oceania....

[mike35]

Smoking on one's balcony is not only hazardous to one's health, it is also anextreme fire hazard, a la the episode on Princess. I don't think smoking is allowed on ANY balcony, regardless of cruiseline for this very reason. Non-smoking ships work for me.

 

Mark

 

Sadly, Mark, this isn't accurate. On our 12/20 - 1/9/07 Holland America Statendam NZ-AUS cruise, smoking was allowed on the ship's balconies, and the folks next door to us puffed away constantly. Really restricted our enjoyment of our balcony!

 

Mike

[Aussie Gal]

I think you will find that on both Princess and HAL you are allowed to smoke on your balcony.

 

We were on the Veendam in Sept/Oct and though our immediate neighbours did not smoke, neighbours a few doors up were and there were no signs saying not to smoke.

 

Again, we were on the Pacific Princess in January and our next door neighbours were smoking so much that we found it hard to stay outside and read. It is the first time we have ever had immediate neighbours who smoked and it was most unpleasant. Also the dividers on the Pacific Princess do not go right up to the top, I presume this is the same on the Oceania ships and it is one big disadvantage as you can hear everything that is being said by your next door neighbours plus the smoke wafts over you.

 

Jennie

[shoshona2]

After that fatal fire on the Princess last year, they STILL allow smoking on the verandas, but have placed smoke alarms in case of fire. Sounds kind of ridiculous to me. My sister returned from a cruise from LAX to Hawaii on Celebrity and could NOT use their veranda the whole cruise. The people on either side of her were chain smokers.

 

Here's to Oceania not going backwards in their smoking policy!!!!!

 

 

Sheila

[Jancruz]

After that fatal fire on the Princess last year, they STILL allow smoking on the verandas, but have placed smoke alarms in case of fire. Sounds kind of ridiculous to me. My sister returned from a cruise from LAX to Hawaii on Celebrity and could NOT use their veranda the whole cruise. The people on either side of her were chain smokers.

 

Here's to Oceania not going backwards in their smoking policy!!!!!

 

 

Sheila

 

Not to worry Sheila, Frank is adamant about not smoking and if you do get caught you are off the ship..he wants no fires!!

I will be on Celebrity Journey 9/1 and will be interested if there is smoking on their balconies and what their library is like..I will bring lots of books..I am a big reader!!

Jan

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