Best,

I'm going onboard COSTA SERENA in a couple of hours time for an inaugural plaque exchange and I will see if the Captain knows anything!

All the best for a Happy Christmas!

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Originally posted by ahrpd:
Sorry Raoul - I'm getting my MSC's and Costa's confused!!

Tony

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Age ? ? ?

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Originally posted by Willem:

Age ? ? ?

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Wellem - you are probably right! But I think shock is more on the mark if these rumours are true. MSC Cruises has grown so quickly and with these two vessels costing US$548m apiece, this is an expensive order. There's also MSC SPLENDIDA at $550m and MSC MAGNIFICA at $548m arriving next June and December.

Funding all this must be a nightmare for MSC, not to mention filling those ships that actually do get built!

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Originally posted by Malcolm @ cruisepage:
So MSC Fantasia and MSC Splendida are still on?

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There appear to be two interpretations of his words - one that MSC want to cancel the order altogether, the other that they want to renogotiate the original price agreed.

Since cancellation would not be good for either side, both are in deep discussion to renogotiate, as indeed STX have just done with NCL over the F3 project.

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Die italienische Kreuzfahrtgesellschaft MSC Crociere hat zwei Aufträge für Schiffe zurückgezogen, die in der französischen Werft in Saint-Nazaire von STX Europe gebaut werden sollten.

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Translation: Italian cruise line MSC Crociere has backed out of two orders for ships that were to be built at the French St. Nazaire shipyard of STX Europe.

As Tony has already mentioned, it appears that Mr Vago's words are currently being interpreted in different ways and from the Seatrade Insider and Lloyd's List stories it appears that the version presented by T-Online and other German media is inaccurate.

Best,

MSC Cruises renegotiating newbuild prices
24/12/2008
MSC Cruises is in discussion with STX Europe to renegotiate the price of its two Musica-class ships, MSC Meraviglia and MSC Favolosa, on order at the St Nazaire yard and due for delivery in spring 2011 and spring 2012.

A company spokesperson confirmed to Seatrade Insider this morning the orders are not cancelled. Nobody at STX Europe in France was available to comment.

MSC Cruises ceo Pierfrancesco Vago stated at a Naples press conference during the naming celebrations of its new flagship, MSC Fantasia, that the company wanted to renegotiate the pricing. ‘With the economic crisis the world context has changed and the cruise industry’s economics as well,’ he said.

When the orders were announced in Milan in September no price was given. However, when the same class MSC Magnifica was contracted in March 2006, it was at a price of approximately €450m.

The St Nazaire yard is due to deliver two more ships to the Italian owner next year: MSC Splendida in the summer and MSC Magnifica (Musica-class) in December which will increase the brand's capacity 50% by the end of 2009.

Just last week STX and NCL Corp confirmed they reached an agreement on the disputed F3 project and are moving forward with the construction of one ship, rather than the two originally planned.

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Originally posted by Kevin Griffin, London:
On what possible basis can MSC renegotiate these prices downwards? A delay in delivery will not mean a lower cost. A contract is a contract - or was this just an MOU? I don't think MSC stand on very firm ground here. They have nothing I can see to offer STX unless it's future promises (like Arcelor Mittal, who seem to be busily breaking shipping contracts on the basis of we'll make it up later).

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Kevin, as STX/Aker have never publicly confirmed a firm order, I can only assume that they have not placed a firm order, but a MOU or LOI and that is what they are re-negotiating.

MSC is actually in the driver's seat here and unfortunately, if STX Europe wants their future business, they will be forced to make concessions on the pricing.

And what future business is that? After all MSC Cruises is busy expanding from just four ships five years ago to fourteen in the near future. They just took Fantasia last week and have orders for 2009 and 2010 so this is their future business - ships number 13 and 14 for 2011 and 2012.

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Originally posted by r.fiebig:
German media report that MSC has cancelled its orders for "MSC Meraviglia" and "MSC Favolosa"...

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