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Work stopped on F3

jetwet1

By jetwet1,
in Norwegian Cruise Line

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jetwet1

jetwet1

Posted
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As the search is down...again :rolleyes:...I don't know if anyone has posted this news or not, if they have Mods please feel free to delete this post.

 

Anyways, it seems that NCL and Akers have an issue, neither side is talking about what it could be, however work has stopped on the F3.

 

The F3 (which stands for ugly monster in some language) is due to sail in Jan 2010, of course if this dispute goes on for any length of time that could be in doubt.

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smeyer418

smeyer418

Posted
Posted

http://www.cruise-community.com/ShowStory.asp?ID=15096

 

 

one of the pleasures of not being publicly trader is you don't have to comment on issues like this. I am sure its a money issue probably having to do with the fact that Star sold NCL and that the shipyard saying the price guarantee doesn't apply.....(I have no inside knowledge its idle speculation)

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time2cruise1

time2cruise1

Posted
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Also from an insider....work has stopped...I didn't want to post that without something to back it up and was unsure on this sites fair use policy.

 

© Copyright 2008 Seatrade Communications Limited. Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade Communications Limited.

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billeelou

billeelou

Posted
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To make a 4200 berth $940,000,000 ship pay for itself at a 7-10% rate of return will require a NET return of $49-67.00 per passenger per day with a residual value in present value dollars at the end of 12-15 years of $280,000,000.....(29.78%)

 

but you all knew that....:p

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Cuizer2

Cuizer2

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http://www.cruisecritic.com/news/news.cfm?ID=2819

 

Cruise News

Home > Cruise News > NCL's F3 Delayed? pixel.gif September 17, 2008 pixel.gif NCL's F3 Delayed? nclf3bighome3.jpg A news report today by Cruise Week, an industry publication, warns of a significant dispute between Norwegian Cruise Line and Aker Yards France, the shipyard that's building NCL's innovative new F3 series of ships.

 

The dispute, according to the report, could cause major delay in the delivery of the first of two as-yet-unnamed ships. The 150,000-ton, 4,200-passenger F3 is considered one of the most innovative designs ever with already announced features that include "new wave" staterooms; nightlife options that mimic Miami's ultra-exclusive South Beach clubs; the first at-sea Ice Bar; and Spice H20, a combo pool deck, dining venue and outdoor theater. And all outside cabins come with balconies.

 

The first F3 ship was slated for delivery in March 2010; the second scheduled to launch that October. The keel laying of the first vessel took place on April 24th.

 

A Difficult Project

No question, the design and building process for NCL's F3 has been more complicated than most new-build projects. That's partly due to the ship's innovations. But while the above features represent different approaches in cruise ship design, what's also challenging is dealing with what F3 ships won't have. In an effort to build on its "freestyle" mantra, NCL has eliminated a theatrical showroom and main restaurant venues. There's no lido buffet.

 

Therein lie big enough challenges. But there were others, and this is perhaps what's led to the dispute. The order was originally placed by Star Cruises, NCL's parent company, for the two ships (with an option for a third). Then it was announced that the ships would be moved over to NCL. And then in a major move in August 2007, Star Cruises essentially sold half of NCL to Apollo Management, LP, a private equity group. And Apollo had its own ideas about design and features for the new ships, which necessitated many trips back to the drawing board. That becomes frustrating to shipbuilders -- and expensive for cruise lines.

 

What's Next?

In Cruise Week's report, NCL issued a statement that basically said "NCL Corporation Ltd., in response to reports that one of its subsidiaries may be involved in a contractual dispute with Aker Yards S.A. of France regarding a shipbuilding contract, will not comment on commercial or legal disputes."

 

Emphasizing that the dispute centers only on the first ship of the two-ship new-build project, industry sources have told Cruise Critic that it's quite possible that Apollo has gotten cold feet. It's also possible, sources said today, that Apollo is willing to take a loss on the project -- which construction-wise is still in its infancy -- by paying a $200 million penalty, rather than having to go through with the first F3, priced at $1 billion or more.

 

An NCL spokeswoman has not responded to Cruise Critic's request for more information. But this is a story that's not going to die quietly, however quiet NCL may be.

 

We'll keep you posted.

 

--by Carolyn Spencer Brown, Editor in Chief

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Cuizer2

Cuizer2

Posted
Posted
To make a 4200 berth $940,000,000 ship pay for itself at a 7-10% rate of return will require a NET return of $49-67.00 per passenger per day with a residual value in present value dollars at the end of 12-15 years of $280,000,000.....(29.78%)

 

but you all knew that....:p

 

Good to know, but it doesn't explain what the dispute is.

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mrmac

mrmac

Posted
Posted

Maybe someone realized people really do want a buffet and a theatre on their cruise. And those curved rooms with the sink outside the bath? I like to confine my wife's suitcase full of toiletries to the bathroom. Are they now going to be in the cabin, or in the bath with no sink. Bring in the focus group again.

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ohioNCLcruiser Great Review Rare

ohioNCLcruiser

Posted
Posted
Maybe someone realized people really do want a buffet and a theatre on their cruise. And those curved rooms with the sink outside the bath? I like to confine my wife's suitcase full of toiletries to the bathroom. Are they now going to be in the cabin, or in the bath with no sink. Bring in the focus group again.

 

The ship will have theaters and a buffet style restaurant just not traditional ones!

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smeyer418

smeyer418

Posted
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no one knows at this point whether this means the end of the F3's or if its some financial dispute. Clearly the market has made many people nervous about investments. I was looking forward to being on a f3 out of NY....but only time and a formal announcement will let us know exactly what is going on......but it doesn't bode well for NCL IF it is true....

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bklynangel

bklynangel

Posted
Posted
no one knows at this point whether this means the end of the F3's or if its some financial dispute. Clearly the market has made many people nervous about investments. I was looking forward to being on a f3 out of NY....but only time and a formal announcement will let us know exactly what is going on......but it doesn't bode well for NCL IF it is true....

there are alot of questions about this issue. I really didnt expect the f3's to go out of ny by 2010. We usually get the ships when they are older anyway. I'm thinking probably 2011 they will be finished but it might be cheaper for them to stop the project now then to put all the money into finishing what they started.

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mylesf

mylesf

Posted
Posted
Maybe someone realized people really do want a buffet and a theatre on their cruise. And those curved rooms with the sink outside the bath? I like to confine my wife's suitcase full of toiletries to the bathroom. Are they now going to be in the cabin, or in the bath with no sink. Bring in the focus group again.

 

 

Respectably, I do not agree with you on being able to put all toiletries in the bathroom. I like to have my things outside of the bathroom as I think this is one of the dirtest place on a ship, hotel, ect!

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orangeh3

orangeh3

Posted
Posted

  • STX Europe ASA was born by Result of extraordinary general meeting of Aker Yards in September 03 2008.

So Aker is now owned by a Korean company and no longer Aker.

 

Where in the links you provided does it say what you are saying? :confused:

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Cruising89143

Cruising89143

Posted
Posted

  • STX Europe ASA was born by Result of extraordinary general meeting of Aker Yards in September 03 2008.

So Aker is now owned by a Korean company and no longer Aker.

 

Not an issue at all with the recent transaction. There is more to this story than is being told right now. I'm sure more will come out in the future. The shipyard is on time with other new builds for MSC and RCI's Oasis of the Seas.

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