STX group pitched the idea of a floating soccer stadium for the 2022 Qatar World Cup. The Korean firm dubbed it “crusium.” They unveiled the project at a conference this week. This is the same STX group that essentially declared chapter 11 bankruptcy and are trying to offload assets. photos via tradewinds
Its no secret that STX Group is in some serious financial difficulties. Last week the Korean Development Bank (KDB) was forced to take over the day-to-day operations of the group. This is allowed under Korean law to help the creditors sort out their finances. Tradewinds is reporting that the debt may be as bad as [...]
CIN is reporting that South Korean based STX Group is considering selling off its shipyards in Europe. This would effect STX France (currently building the third Oasis) and STX Finland (currently building TUI’s new ships.) Interestingly enough, these two shipyards have seen their fair share of ownership changes. Lets review… STX Finland started out as [...]
After 20 months under construction, the management of Hapag-Lloyd Cruises has satisfied itself on the outstanding condition of the EUROPA 2. After signing the acquisition papers, Dr Flägel said: “Today is a special day for us. By the addition to the fleet of EUROPA 2, we are acquiring the latest generation of cruise ship, which [...]
Royal Caribbean just announced that they will in fact build a third Oasis Class ship. Entry into service is planed for mid 2016. The contract also includes the option for a second (fourth overall) ship to be delivered 2018. In a shocking turn of events STX France will be the builder. I had wondered a [...]
Last week we followed the STX Yards and Finnish Government meetings. Well, the results are out, and its a fairly positive one. However there are some short comings. STX had asked for 50 million Euros to help secure the Oasis contract. It is now being reported that while a loan has in fact been granted, [...]
UPDATE WEDNESDAY: The government will meet on Thursday to discuss the financing package. It was rumored back in October that Royal Caribbean was exploring the possibility of building a third Oasis class vessel. The deal was pending the Finish Governmental approval of Royal Caribbean’s financing package. Today, it was announced in Finnish newspapers that officials in the Government [...]
According to the Finnish newspaper Turun Sanomat, STX Yards and Royal Caribbean are nearing a deal to build a third Oasis class. A sister to the very successful Oasis of the Seas and Allure of the Seas, the order for third sister is currently pending Finnish Government Credit approval. Since she will cost north of [...]
After falling through with STX yards and switching the bid to Italy’s Fincanteri, the contract was officially signed. The contract calls for 2, 47,000grt ships with a capacity of about 944.
STX France recently launched their 10th ship in 10 years for MSC Cruises. This massive fleet expansion project is by far the most aggressive in the industry. The MSC Divina is the latest addition. The 140,000grt ship was officially handed from STX Yards to MSC Cruises this past week. During the traditional flag ceremony, the [...]
