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Eero Mäkinen

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    Eero Mäkinen Eero Mäkinen Presentation Transcript

    • Cruise Vessel Newbuildings - Market, Diversity andPotentialby Eero MäkinenSVP MarketingSTX Finland Oy
    • IndexCruise Business developmentSTX Finland - Passenger Ship constructionCruise ProductCruise vessel developmentThe Spanish scenario
    • Pax Volume Development (source) 12 11 10 North America 9 Continental Europe 8 UK & Ireland Others 7 Asia, excluding Japan AustralasiaPassengers 6 JapanMillion 5 4 3 2 1 0 2007 2008 2009 2010 2011 • CAGR 1970 – 2010 9% • Except North America and Europe volume and penetration are low • Growth in Europe; Germany, UK, Spain, Italy
    • Cruise Fleet Development 20 000 000 500 Gross Tonnage 18 000 000 450 Number of Ships 16 000 000 400 14 000 000 350 Number of Ships Gross Tonnage 12 000 000 300 10 000 000 250 8 000 000 200 6 000 000 150 4 000 000 100 2 000 000 50 0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Ocean going cruise ships only Delivery • Purpose built cruise vessels since 1970. • Steady growth in no. of ships over 40 years. • Slower growth (capacity) since 2010.
    • Fleet and Yards Fleet Cruise Ship Yards Mariotti 1% Others CCL 7 ships Lloyd Werft Other Yards 1% 14% 3 ships 180 ships Others 15% Mitsubishi Princess 3% STX Europe MSC 10 ships 34% MSC 6% 115 shipsOceania, Regent, Orient Carnival 46 % Star/Apollo Total 351 ships, Total 428 ships, 510 000 Pass. Meyer 10% Costa 20 850 000 GT NCL 17% 39 ships Star Royal Caribbean HAL Azamara, CDF, TUI 23% Pullmantur Fincantieri P&O Cruises 30% Celebrity 74 ships Aida Including ships on Cunard order or retired Iberocruceros, Seabourn, Including ships on order RCI P&O Cruises AU, Ocean Village • Four cruise conglomerates cover over 80 % of global capacity. • Three yard conglomerates cover 80 % of deliveries.
    • Cruise Vessel Prices Average Published Contract Prices per GT 10 000 60 000 to 100 000 GT 9 000 Ships over 100000 GT 8 000 (Small vessels excluded) 7 000 6 000 EUR / GT 5 000 4 000 3 000 2 000 1 000 0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Contract Year• Ship prices have remained the same (EUR/GT) for 20 years in spite of the accelerated sophistication of the product.• Cost of cruise product vs shore based leisure products: gap widening slowly but steadily (tax and union issues) to the benefit if cruise.
    • STX Shipbuilding - 18 yards in 8 countries
    • Shipyards in Finland Turku World leading builder of the most advanced cruise ships. Rauma World leading builder of the most advanced passenger ferries. Specialised also to build small cruise ships, arctic vessels and navy ships. Helsinki The most experienced builder of artic vessels. Specialised also to build small cruise ships and other special vessels.
    • Passenger Ships Built or On Order in Finnish Yards Voyager of the Seas 137 300 GT, 1999 Liberty of the Seas Europa 154 000 GT, 2007 28 400 GT, 1999 Athena Galaxy Paradise 48 900 GT, 2006 40 000 GT, 1989 Cruise Ships Cinderella 46 400 GT, 1989 70 400 GT, 1998 Superfast IV 30 000 GT, 1998 Freedom of the Seas 154 000 GT, 2006 Delfin Clipper Elation Ferries 6 070 GT, 1989 Royal Viking Sun 70 400 GT, 1998 Superfast III 30 000 GT, 1998 Color Fantasy 74 600 GT, 2004 37 800 GT, 1988 Birka Paradise Enchantment of the Seas 34 700 GT, 2004 74 000 GT, 1997 Viktoria I Seaward 42 300 GT, 1988 41 000 GT, 2004 Grandeur of the Seas Kronprins Harald 74 000 GT, 1996 Carnival Miracle 31 100 GT, 1987 85 700 GT, 2003 Aida 38 600 GT, 1996 Olympia Mariner of the Seas 37 600 GT, 1986 Inspiration 137 300 GT, 2003 Birka Princess 70 400 GT, 1996 21 500 GT, 1986 Costa Mediterranea Turella Imagination 85 700 GT, 2003 10 600 GT, 1979 Wellamo 70 400 GT, 1995 33 800 GT, 1986 Finnjet Navigator of the Seas Crystal Symphony 24 600 GT, 1977 137 300 GT, 2002 Mariella 50 000 GT, 1995 Hamnavoe Kazakshtan 37 800 GT, 1985 8 800 GT, 2002 16 600 GT, 1976 Fascination Svea 70 400 GT, 1994 Hrossey Azerbaydzhan 33 800 GT, 1985 Juan J. Sister 12 000 GT, 2002 16 600 GT, 1975 Sea Goddess II 22 000 GT, 1993 4260 GT, 1985 Hjaltland Oasis of the Seas Gruziya 12 000 GT, 2002 225 000 GT, 2009 16 600 GT, 1975 Sensation Royal Princess 70 400 GT, 1993 Carnival Legend Belorussiya Baltic Queen 44 350 GT, 1985 85 700 GT, 2002 48 900 GT, 2009 16 600 GT, 1975 Sea Goddess I Normandie Prinsessan Birgitta 4250 GT, 1984 27 000 GT, 1992 Romantika Armorique 8750 GT, 1974 Al-Mansur 40 800 GT, 2002 28 500 GT, 2008 7360 GT, 1982 Royal Majesty Royal Viking Sea 32 000 GT, 1992 Carnival Pride Baltic Princess 21 900 GT, 1973 Song of America 85 700 GT, 2001 48 900 GT, 2008 Boheme Radisson Diamond 37 600 GT, 1982 20 300 GT, 1992 10 300 GT, 1968 Seafrance Rodin Royal Viking Sky Botnia 33 800 GT, 2001 Independence of the Seas 21 900 GT, 1973 Travemünde Barfleur 3440 GT, 1967 154 000 GT, 2008 9100 GT, 1981 20 000 GT, 1993 Finlandia Bore I Superspeed 2 8500 GT, 1973 Adventure of the Seas 1383 TUI Blu Motion 8170 GT, 1967 33 500 GT, 2008 Silvia Regina Silja Symphony 137 300 GT, 2001 97 000 GT, 2014 Finnpartner Sun Viking 25 700 GT, 1981 58 400 GT, 1991 Viking XPRS 7460 GT, 1966 18 600 GT, 1972 Carnival Spirit 34 300 GT, 2008 1376 Viking Line Prins Hamlet Ecstasy 85 700 GT, 2001 Finlandia Superspeed 1 57 000 GT, 2012 8690 GT, 1966 70 400 GT, 1991 Royal Viking Star 25 700 GT, 1981 33 500 GT, 2008 Finnhansa 21 800 GT, 1972 Ulysses Spirit of France 7480 GT, 1966 Viking Song Silja Serenade 51 000 GT, 2001 49 000 GT, 2011 Nordic Prince Color Magic Ilmatar 14 300 GT, 1980 58 400 GT, 1990 18 400 GT, 1971 74 600 GT, 2007 Spirit of Britain 5100 GT, 1964 49 000 GT, 2010 Viking Saga Kalypso Explorer of the Seas Cotentin Nordia Song of Norway 40 100 GT, 1990 137 300 GT, 2000 13 900 GT, 1980 22 000 GT, 2007 3630 GT, 1962 18 400 GT, 1970 Skandia Floria Rosella Fantasy Costa Atlantica Star Allure of the Seas 3590 GT, 1961 4050 GT, 1970 10 800 GT, 1980 70 400 GT, 1990 85 700 GT, 2000 35 700 GT, 2007 225 000 GT, 2010 1960 . . .1970 . . . 1980 . . . 1990 . . . 2000 . . . 2010 . . . - altogether 107 passenger vessels (over 50 years) of which 44 are cruise vessels - continuous construction activity over 60 years.29 October 2012 | Page 9
    • Oasis and the other big onesSTATUE OF LIBERTY BOEING 747 DOUBLE DECKER MERCEDES-BENZ HEIGHT 93M LENGTH 70,7M LONDON BUS S500 HEIGHT 19,4M LENGTH 8,4M LENGTH 5,1M HEIGHT 4,3M Page 10
    • Hull Assembly (Oasis of the Seas) Page 11
    • Outfitting (Oasis of the Seas) Amphitheater at Sea Outdoor Central Park Main dining room - 3 level high Page 12
    • STX Lifecycle Services• Ship conversions, refurbishments, retrofits and maintenance• Engineering and design services• Complete project execution• Full lifetime support
    • Cruise Ship Evolution 2009 Oasis of the Seas GT 225 000 2006 Freedom of the Seas GT 158 000 • Substantial ship size increase not 1999 likely in next tenyears Voyager of the Seas GT 137 300 • Future focus on performance Energy efficiency 1996 Grandeur of the Seas GT 74 000 Less emissions Multifunctional 1990 Efficient design concepts to 1990 Fantasy GT 70 400 meet latest rules 1982 • Target to use the same technical Song of America GT 37 600 platform for cost savings 1970 • Conversion of existing fleetSong of Norway GT 18 400 29 October 2012 | Page 14
    • Bigger Size, More Possibilities ! 2010 Viking Crown Lounge Wedding Chapel Park view staterooms Private verandas Loft Suites Royal Suites Japanese Cuisine Wine bar Beach poolBoth ships have Golf Course Vipeout Bar Windjammer Cafe Park Cafe Trattoria Art Gallery Solarium Barequal volume per Two Flowriders Zip Line Video games CENTRAL PARK Upscale dining Pool bar Solarium Bistro BOARDWALK Basket ball court Teens’ area Chops Grille H2O zone waterpark Seaview jacuzzispassenger Seafood Shack Climbing walls Rising bar Sport pool Sunbathing spa Fountain lounges(ca.120m3/p) Tattoo parlor Carousel Adventure Ocean Balance Gym Ice cream bar Sail Bar Arts&Science Amphiteater at Sea Psychics Show pool Playground Candy store Johnny Rockets Hamburgers Aft Centrum ROYAL PROMENADE Three level Card Room Cafe Terrace Karaoke bar Latin bar VIP-lounge Fitness Center Main Dining Library Barbers Shop Fashion shops Pizzeria Jogging track Wellness Center Concierges Lounge Jewellery English Pub Night Club Fwd Centrum Saunas & baths Dazzle Jazz Club Photo Gallery &shop Comedy Club Main Show Lounge Hair Salon Cafe Lounge Pools Sun deck Schooner bar Casino Studio-B Jazz Club Conference Center Business Services Museum of Gaming Ice skating Restaurant Cinema Casino Shops Theater 1970
    • Cruise Ships Emissions
    • Product Diversity/Future• Destinations - floating resort• Size of vessels - economy of scale, onboard atmosphere• Standard of product (one to six stars) standard of the ship standard of service (“product”)• Geographical areas• Expedition cruising• Theme cruising• Inclusive(traditional) - all inclusive(luxury) - non inclusive(cruise ferry)• Food• Activity functions onboard• Apartment - hotel• Multinational (-language) - national (one language)Ships are today developed, designed and built (or sometimes modified) for aspecific cruise “product” and specific clientele.“Anything offered onshore can also be offered onboard as inclusive in acruise product.”
    • Product diversity!!
    • Ship Concept Development Naval Architecture WEIGHT DISTRIBUTION 50 Dead Task weight Related 45 Ship Hull 40 Oufitting 35 Machine ry 30 Super 25 Interior structure Outfittin 20 g 15 10 Furnished Spaces 14 5 12 0 10 -20 -15 -10 -5 0 5 10 15 20 8 6 4 2 0 Pax Public Halls Staff Service Cabins Spaces Stairs Spaces Spaces 70XXX Ocean Going Cruise Ship Version Basic for "Cruise Line" Design of Economics (ship/fleet)28 March 2012
    • Cruise Ship Economics User: KTS Updated: 8.6.2012 SEAKEY CRUISE SHIP ECONOMICS SHIP IDENTIFICATION Project: Russian Cruise Line Name: 1000 Cabin Cruise Ship Owner: Russian Cruise Line Operator: - MAIN PARTICULARS Length OA: 280,0 m Propulsion Power: 30 000 kW Breadth: 32,2 m Trial Speed: 24,0 knots Draught: 7,8 m Auxiliary Power: 14 000 kW Pax Capacity: 2 000 pax Currency: EUR Gross Tonnage: 80 000 GT Building Price: 350 Millions Deadweight: 7 200 ton Start Up Cost: 30 Millions Start of Operation: 2002 Total Investment: 380 Millions PASSENGER CAPACITY No of Lower Extra No of Cabin Category Name Cabins Beds Beds Persons 1: Suites 50 2 1,0 150 2: Outside with balcony 700 2 1,0 2 100 3: Outside 100 2 1,0 300 4: Inside 150 2 1,0 450 5: 0 0 0,0 0 Total Passenger Capacity 1 000 2 000 1 000 3 000 ROUTE AND SCHEDULE Operating area: Black Sea Terminal Port: Sochi Schedule Length of Cruise: 7,0 days Hours at Sea: 125 hours Length of Route: 2 000 nm Average Speed: 16,0 knots Number of Trips: 50 Operating Days: 350 days28 March 2012
    • Ship concepts for a variety of requirements
    • Role of Shipyards today - has changed over time• Total responsibility of the overall design (architectural/naval architectural) and of the product as a whole (fixed price – turnkey)• Structural concept• Machinery: propulsion and all technical ship systems• Regulatory issues• Interior• Energy efficiency and environmental issues• Quality• Overall project management• “Facilitation” of financingProduct (ship concept) development is today very much done in cooperationbetween the cruise company (shipowner) and the yard; with consultants,suppliers, classes etc. playing an important supporting role.
    • Where to build future cruise vessels?• Three European shipbuilding companies have dominated the market for the last 15+ years• Cruise shipbuilding is a highly specialized shipbuilding segment - very different from “ordinary shipbuilding” (“not the same industry”)• The demand of cruise vessels will be only appr. 5 to 10 vessels per year - for the next 10 years?• Cruise shipbuilding requires: - highly specialized and experienced design skills - a production system geared for a fast throughput - the use of component and turnkey suppliers with long term expertise in the branch - an extensive turnkey supplier network - not too far from the construction site - unique project management skills with long standing experience - ability to secure ultimate in quality - reliability overall (e.g. re delivery time) - financing strength – high unit price• Europe vs Far East (China – Japan – Korea)
    • The Spanish scenario• Rapidly developed source market• Initial growth through local business interests• Mainly national, one – language product• Clear product identity - however, use only of ships (2nd hand only) developed for other markets!• High brand identity• Potential for diversity, not much exercised yet• Future growth vs. overall economic development• New local iniatives welcome?
    • Thank You!Eero MäkinenSVP, MarketingSTX Finland Oyeero.makinen@stxeurope.comtel. +358 40 505 7348