RA BRS 2003 GB >pdf

More documents

Recommendations

Info

18 Brilliance of the Seas 90,090 gt, blt 2002 by Meyer Werft, operated by RCC. Lower berths 30,000 25,000 20,000 15,000 10,000 5,000 Shipping and Shipbuilding Markets 2003 0 13 ships delivered in 2002 Cruise ships delivered in 2002 and firm orderbook to 2006 13 ships American market capacity and 43% capacity of the world market, thirteen different brands, 65 ships (100,000 lower berths) and a further 18 under construction (42,000 lower berths). We have to acknowledge that CCL has up till now always respected the identity and the personnel of the merged parties and to date has managed to succeed in a unique segmentation of the market. This segmentation of the market has also been a 10 ships 3 ships Others Meyer Werft Masa Yards Fincantieri Ch. de l'Atlantique 1 ship 2003 2004 2005 2006 target in the strategy of other companies during the course of the year: ◆ The creation of « Ocean Village » and of « A’Rosa » by the P&O group, the first being destined for a new younger clientele within the English market, and the second for a more mature and experienced clientele within the German market. ◆ Similarly, Costa has dedicated the ‘Costa Marina’ to the Germans and RCC has created « Island Cruises» to operate on the English market at attractive prices. These new brand names sometimes have difficulty in getting established, with potential clients showing a certain distrust towards a new name and product, but for owners it allows them to use older cruise ships, which are facing the competition of new ships from their parent companies. After the black year of 2001, no company has gone into bankruptcy this past year. Notwithstanding, vessels which have been laid up due to these earlier bankruptcies have certainly had a negative effect on both the second-hand and newbuilding markets which have been extremely calm. ◆ The eight Renaissance ships (700 lower berths) have had a problem finding interested parties due to their size and cost, which necessitate finding homes
in the more remunerative sectors of the market. The P&O Princess group concluded a long time charter for the ‘R Eight’ to replace the ‘Minerva’ and thus serve the restricted but profitable cultural cruises. The same group also took over the ‘R Three’ and ‘R Four’ to expand its presence in the Pacific, between Tahiti, New Caledonia, and Australia. ◆ A newly created American cruise company, Oceania, is proposing to charter two Renaissance ships to work the American market and the last three should find their trade within Europe to fulfil the upper end of some national markets. ◆ The hulls under construction for the American company AMCV with Ingalls and their outfitting have found takers with NCL (the Star Cruises group) who bought at the very favourable price of $36 million and will have them completed – or at least the hull of the first-ship with Lloyd Werft in Germany, the undisputed specialist of passenger ship conversion. For the second consecutive year, the orderbook has hardly expanded, with the exception of two ships ordered by the Carnival group with Fincantieri, one unit of 85,000 tons, 1,848 lower berths, for Holland America Lines, with delivery in mid-2006, and one unit of 110,000 tons, 3,000 lower berths, for Carnival, for delivery at the end of 2005, at the respective prices of some 380 and 460 million euros. Fincantieri thus confirms its lead position amongst European shipbuilders. Also worth noting is the order by the Scandinavian company Birka for a vessel of 700 cabins with Aker Finnyards, at a price of $155 million, destined primarily for cruise seminars. At the end of the year, the firm orderbook stands at 27 ships with a capacity of 57,164 lower berths, with delivery to be spread out over the next three years, which will increase berth capacity in service respectively by 10.8% in 2003, 9.5% in 2004, and 2.5 % in 2005. Confronted with a demand which most probably will increase at the rate of some 8% per year, the threat of surplus capacity seems to be receding, which will reassure bankers and financial analysts who have been concerned at the rapid rise in the number of ships joining the market these last years. However this brutal reduction in new orders puts the future of the large European shipyards specialised in the cruise industry into jeopardy. Converting towards other types of ships, such as ferries, ro-ros, LNG carriers and military or specialised craft, although a logical solution, is not always obvious in such a generally sluggish market. The first victim of this reduced activity has been the small Norwegian shipyard Fosen, builder of the ship ‘The World’ for Residensea, which had to ask for creditors’ protection. Several projects are currently under discussions, namely for Star Cruises, Saga, Aida Cruises, Radisson, Disney Cruises, etc. but are slow to get confirmed. RCC has not placed any new order in 2002 and is questioning the size of future ships, in view of the success of the ‘Voyager’ series, 137,000 tons. It is also a fact that decisions were on hold awaiting the outcome of the merger with P&O Princess. RCC has extended its option until September 2003 that it has with Meyer Werft for two ships of the ‘Serenade’ class (85,000gt, 2,000 lower berths), for delivery in 2005 and 2006, whereas P&O were unable to postpone any further its two options with Chantiers de l’Atlantique. The market will from now be obliged to follow the development pace of the new giant CCL/P&O Princess. It is very unlikely that the year 1999, which had 25 new orders will be repeated, but one can reasonably hope that some new orders will be placed in 2003 by the big groups who will pursue a more modest rhythm for their expansion in 2005 and beyond. Carnival should logically show the way and be followed by its competitors, but the number of new orders risks being insufficient for the appetites of the European shipyards. Europe has a total construction capacity of about fifteen ships of 90,000 gross tons per year, certainly greatly oversized relative to the needs for a European Stars 58,600 gt, blt 2002 by Chantiers de l'Atlantique, operated by Festival Cruises. The Cruise Market in 2002 19
Page 1 and 2: SHIPPING AND SHIPBUILDING MARKETS 2
Page 3 and 4: Once again we are outraged and help
Page 5 and 6: THE SHIPBUILDING MARKET IN 2002 The
Page 7 and 8: tives set at the beginning of the y
Page 9 and 10: Nb of vessels 60 50 40 30 20 10 0 T
Page 11 and 12: % 100 90 80 70 60 50 40 30 20 10 0
Page 13 and 14: Several European shipyards have gon
Page 15 and 16: % 100 90 80 70 60 50 40 30 20 10 0
Page 17 and 18: Prospects The 90’s were character
Page 19: THE CRUISE MARKET IN 2002 After the
Page 23 and 24: ◆ For Festival Cruises, the ‘Eu
Page 25 and 26: THE TANKER MARKET IN 2002 We tried
Page 27 and 28: US$/day 80,000 70,000 60,000 50,000
Page 29 and 30: The crisis that shook Venezuela in
Page 31 and 32: Minds more competent than ours will
Page 33 and 34: the ‘Afrapearl’, 86,417 dwt, bu
Page 35 and 36: US$/day 70,000 60,000 50,000 40,000
Page 37 and 38: The product tankers second-hand mar
Page 39 and 40: THE OFFSHORE AND SPECIALISED SHIPS
Page 41 and 42: Utilisation % 100 90 80 70 60 50 40
Page 43 and 44: Average reported day rates in £/da
Page 45 and 46: to become one of major importance i
Page 47 and 48: THE CHEMICAL CARRIER MARKET IN 2002
Page 49 and 50: number 20 18 16 14 12 10 8 6 4 2 0
Page 51 and 52: THE LIQUEFIED PETROLEUM GAS SHIPPIN
Page 53 and 54: ◆ The development of voyages conc
Page 55 and 56: Midsize carriers 22,000 to 43,000 c
Page 57 and 58: number 20 18 16 14 12 10 8 6 4 2 0
Page 59 and 60: THE LIQUEFIED NATURAL GAS SHIPPING
Page 61 and 62: Number of vessels 60 50 40 30 20 10
Page 63 and 64: approvals for deep-water oil projec
Page 65 and 66: LNG SHIPPING SOLUTIONS LNG Shipping
Page 67 and 68: THE DRY BULK MARKET IN 2002 The dry
Page 69 and 70: up with a modest rise of 0,4 %. The
Page 71 and 72:
$/day 19,000 18,000 17,000 16,000 1
Page 73 and 74:
We have noted some 36 sales for fur
Page 75 and 76:
Market Cargoes Advancing with shipp
Page 77 and 78:
THE CONTAINERSHIP MARKET IN 2002 Th
Page 79 and 80:
Another factor which may have a str
Page 81 and 82:
$/day (Source: BRS-Alphaliner) 30,0
Page 83 and 84:
Maersk-SL + Safmarine Mediterranean
Page 85 and 86:
Ships of 2,000 to 3,000 teu One can
Page 87 and 88:
THE RO-RO MARKET IN 2002 Is the ro-
Page 89 and 90:
No ships 60 50 40 30 20 10 0 Ro-ro
Page 91 and 92:
THE REEFERSHIP MARKET IN 2002 Light
Page 93 and 94:
◆ During the autumn of 2002, P&O-
Page 95 and 96:
Million cu ft 400 390 380 370 360 3
Page 97 and 98:
THE MARINE INSURANCE MARKETS IN 200
Page 99 and 100:
Secondly, the drop in Stock Exchang
Page 101 and 102:
FRENCH SHIPYARDS DELIVERIES AND ORD
Page 103 and 104:
Chantiers Piriou Ships delivered in
Page 105 and 106:
Zhejiang (China) 093 Artha 2002 Pet
Page 108:
Shipbrokers since 1856 12-14, Rond-
show all

RA BRS 2003 GB >pdf

Create successful ePaper yourself

Delete template?

Save as template?