It's an intriguing question, posed by Mark Tre in the Cruise Examiner, in a piece looking at the winners and losers in the cruise industry in the current financial crisis.
He reckons the big two - Carnival Corp and Royal Caribbean Cruise Lines - are best positioned to ride out the storm, but that question marks hang over Norwegian Cruise Line and MSC Cruises.
The big question about MSC is not only whether it will be able to survive a rapid expansion in a short number of years, but whether parent company Mediterranean Shipping Company, the world's second-largest container line, can survive in a diminishing market where freight rates are dropping every week.
NCL may be a stronger position, now being half-owned by Apollo Management as well as Star Cruises. But Apollo had had to follow through on a recent major acquisition in another market and has a full interest in Oceania Cruises and Regent Seven Seas Cruises that it must also look after. There have also been reported disagreements between Apollo and NCL as to the future path that NCL should be taking, one of the reasons for the dispute over the F3s.
Can the two get together to take on the big two? Or would MSC fill a hole at Royal Caribbean and offer a counterpoint to Carnival's Costa?
This is not the best time for cruise lines to be on a spending spree - or is it? Desperate times can mean desperate deals.
Jane Archer
Comments (3)
You only have to look at MSC Cruises’ inventory to see we are in an extremely strong position as the fastest-growing cruise line in the world, with the most modern fleet.
We are launching our largest ship, MSC Fantasia, in December, followed by two more ships next year, which will increase our total passenger capacity by 50%. Two further ships are on order, due for delivery in 2011 and 2012, by when our passenger capacity will be 1.4 million per year.
Is this the sign of a company that has a ‘question mark’ hanging over its future? Most definitely it is not.
Giulio Libutti, managing director, MSC Cruises UK and Ireland
Posted by Sarah Longbottom | November 17, 2008 11:51 AM
Posted on November 17, 2008 11:51
Very helpful and informative article. While searching a few related websites, I found Msc Shipping Management. I suggest, just check it out during your spare time.
Posted by msc shipping management | December 29, 2008 11:17 AM
Posted on December 29, 2008 11:17
I'm not entirely sure of the relevance of the website. Am I missing the point?
Posted by Jane Archer | December 29, 2008 11:26 AM
Posted on December 29, 2008 11:26