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Tuesday, March 27, 2007

New ship orders from Oceania, Silversea

Italian shipbuilder Fincantieri continues to score new ship orders. The latest are two 1,260-passenger vessels for near-luxury brand Oceania Cruises, and one 540-guest ship for ultra-luxury Silversea.

Oceania's announcement comes right on the heels of the cash infusion it received recently when it was purchased by Apollo Management. Its new $500 million, 65,000-ton ships will be delivered in 2010 and 2011, and the line has an option for a third ship in 2012.

Oceania has met tremendous success carving out a niche between premium and luxury cruise lines. From its founding four years ago, the line has sailed with 684-passenger vessels originally built for Renaissance Cruises, and has met with widespread acclaim for delivering on its promise of "near-luxury cruising at a premium price."

"We have elevated the onboard product in every area and as a result, guests will be able to dine in an unprecedented number of gourmet restaurants," explained Frank Del Rio, the firm's chairman and CEO. "The luxury of accommodations...will set a new standard in terms of size, spaciousness and comfort."

Silversea's Finacantieri order, meanwhile, is for a single 36,000-ton vessel for delivery in 2009 to complement its current four vessels, plus an option for a second new sister ship.

Amerigo Perasso, Silversea's president, said, "This newbuild order shows great confidence in the luxury segment's potential for greater demand."

The order is the first for Silversea since 1998 when contracts for Silver Shadow and Silver Whisper were signed, which entered service in 2000 and 2001. The newbuild will boost Silversea's overall fleet capacity 40%, from 1,356 berths to 1,896.

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