Germany-based TUI Group has completed the sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises, a joint venture which TUI has with Royal Caribbean. TUI Group agreed to the sale in February for an enterprise value estimated at 1.2 billion euros. All approvals including merger clearance by the EU commission have now been fulfilled. TUI said the transaction closed in a … [Read more...]
TUI Cruises Orders Two LNG Cruise Ships at Fincantieri
TUI Group and Royal Caribbean Cruises have placed an order for two LNG-powered cruise ships for their TUI Cruises joint venture brand. The two identical ships will be built at the Italian Fincantieri shipyard in Monfalcone with delivery is planned for 2024 and 2026. The addition of the two vessels will expand TUI Cruises' Mein Schiff fleet to nine ships by 2026. At … [Read more...]
TUI Cruises Orders New Ship at Meyer Turku
TUI Cruises, part of Europe's largest tourism group TUI Group, announced plans on Monday to order a newbuild cruise ship to be built at the Finnish Meyer Turku shipyard. The newbuild, named Mein Schiff 7, will be identical to the new Mein Schiff 1 and new Mein Schiff 2, planned for delivery from Meyer Turku in 2018 and 2019, with a capacity for up to 2,894 passengers and … [Read more...]
TUI Sheds its Stake in Hapag-Lloyd
FRANKFURT, July 10 (Reuters) - Europe's largest tourism group TUI Group said on Monday it had sold its stake in container shipper Hapag-Lloyd, bringing to a close plans for the sale of non-core businesses in order to focus on its tourism operations. TUI Group has been investing in more of its own hotels and cruise ships since it was formed from the merger of TUI AG and TUI … [Read more...]
Vard Inks Order for Two Polar-Class Cruise Ships
Hapag-Lloyd Cruises has ordered two new expedition-style cruise ships at Vard as the Hamburg-based cruise company looks to expand in the segment. The two vessels will be built to the highest Polar Class designation for passengers ships for cruises to the Arctic and Antarctica. They will also be suited for warm-weather cruises to destinations including the Amazon. The … [Read more...]