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Tui Ag News

28 Dec 2023

"Green" Loan Secured for Low-Emission Cruise Ship

Copyright UMB-O/AdobeStock

Fincantieri signed a "green" construction loan for a maximum amount of $461m with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP), the proceeds of which will be used to cover the financial needs linked to the construction of the Mein Schiff Relax, the first of two newly designed dual-fuel inTUItion class cruise ships (Liquid Natural Gas - LNG and Marine Gas Oil - MGO) that Fincantieri is building for TUI Cruises, a joint venture between the TUI AG and Royal Caribbean Cruises.

28 Sep 2020

Crew on TUI Cruise Ship Test Positive for Coronavirus

© Debbie Ann Powell / Adobe Stock

A cruise ship carrying about 920 passengers was expected to dock at Piraeus port near Athens, after 12 of its crew members tested positive for the coronavirus, an official at Greece's Civil Protection agency said on Monday.The Mein Shiff 6, operated by TUI Cruises, departed from Heraklion in Crete on Sunday with all passengers having tested negative before boarding.But sample tests on 150 crew members out of a total of 666, detected 12 infections. The ship's operators TUI Cruises said six of the 12 had since tested negative."They are all asymptomatic," the civil protection official said.

16 Feb 2020

WFW Advises TUI on $1.3Bn Take Over

London-based international law firm Watson Farley & Williams has advised TUI Cruises GmbH on its acquisition of Hapag-Lloyd Cruises from TUI AG for US$1.3bn, excluding net debt.According to the the transaction is subject to customary closing conditions and regulatory approvals and is expected to close in summer 2020. The deal includes the acquisition of HL Cruises’ luxury and expedition fleet, consisting of two five-star plus luxury vessels and three expedition cruise ships, by TUI Cruises. This expands TUI Cruises’ existing fleet to twelve cruise ships, which will enable it to participate in the growth of the cruise industry as the…

28 Nov 2018

Mein Schiff 3 Made Maiden Call at Sri Lankan Port

The super luxury passenger vessel MV Mein Schif 3 of TUI Cruises with 2,430 passengers and 995 crew on board made her maiden call at the Port of Colombo on 26th November 2018. The vessel was welcomed at the East Container Terminal (ECT) of Sri Lank Ports Authority (SLPA).Chairman of Sri Lanka Ports Authority (SLPA) – Dr.Parakrama Dissanayake said that the Port of Colombo was honored by the presence of Mein Shiff 3 in Colombo. “The Port of Colombo has become an extremely busy port and this year the port also became the fastest growing port in the world in terms of handling containers. The next area we are focusing is the passenger vessels and we have plans to construct a state of the art passenger terminal at the Port of Colombo…

03 Sep 2018

Panasonic Connectivity Services for TUI Cruises

Panasonic Avionics Corporation (Panasonic) announced that in partnership with its subsidiary, ITC Global, it has been awarded a four-year contract by TUI Cruises for connectivity services to two new-build cruise ships, Mein Schiff 1 and new Mein Schiff 2.The agreement establishes communication capabilities onboard the vessels serving guests and crew, enhancing the user experience during the cruise line's travels across international waters. Germany-based TUI Cruises is a joint venture between TUI AG and Royal Caribbean Cruises, Ltd. Headquartered in Hamburg, TUI Cruises voyages sail across the globe from the Baltic and Mediterranean Seas in Europe…

13 Jul 2018

TUI Cruises Orders Two LNG Newbuilds

(Image: TUI Cruises)

TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises has placed an order with Italian shipbuilder Fincantieri to build a pair of new-generation cruise ships to be powered by liquefied natural gas (LNG).The new 161,000 gross ton vessels will be built at the Monfalcone shipyard and delivered in 2024 and in 2026. Including the new pair, the cruise line’s Mein Schiff fleet will grow to nine ships by 2026.“These will be the largest ships ever built in Italy,” said Giuseppe Bono, CEO of Fincantieri.

20 Mar 2018

Ctrip, Royal Caribbean Cruises to End SkySea Joint Venture

Royal Caribbean Cruises and Ctrip announced today that they are ending the SkySea Cruise Line joint venture. TUI AG's Marella Cruises has agreed to purchase Golden Era, with delivery expected in December, 2018. As a result of this transaction, TUI Cruises will now retain Mein Schiff 2 in its fleet, rather than selling it to Marella Cruises, giving TUI Cruises increased capacity in the strong German market. After the sale of Golden Era, it is expected that SkySea will wind down its business operations before the end of 2018. The companies expect that favorable business conditions in China and elsewhere will allow them to absorb most SkySea employees into available positions at RCL and Ctrip.

10 Jul 2017

TUI Sheds Its Stake in Hapag-Lloyd to Focus on Tourism

Photo: Hapag-Lloyd

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 Travel in 2014. "The proceeds will be reinvested in the transformation of TUI as the world's leading integrated tourism business, focused on own hotel and cruise brands, and to further strengthen TUI's balance sheet," TUI said.

04 Nov 2015

IPO: Hapag-Lloyd Raises $300 Million

Hapag-Lloyd AG, the German container shipping company, has succeeded in completing its  initial public offering (IPO), after a hard campaign in which the outcome sometimes looked in doubt. It has set the final offer price for its shares at €20 ($21.91), the low end of the bookbuilding range. The Container shipping line said it raised approximately $300 million in primary proceeds through the initial public offering. The deal’s main target was to raise primary proceeds for the company. The target for this was reduced from $500m to $300m (€265m) at the start of the bookbuild on October 14, but Hapag-Lloyd has succeeded in raising that much.

03 Nov 2015

Hapag-Lloyd Likely to Price IPO at 23 Eur/Share

The shares of German container line Hapag-Lloyd  will now be offered at between 20 and 22 euros ($22-$24.20) each, down from 23-29 euros previously, reports Reuters. Its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6. Hapag-Lloyd said that due to ongoing market volatility, the company and its existing shareholders have decided to adjust the price range and the offer structure in the course of the IPO. "It's no easy thing," the person said, adding that he believed the IPO will go through and not to be canceled. The new listing will now purportedly offer 15.2 million shares that include 13.2 million in a capital increase…

29 Sep 2015

Hapag-Lloyd in US$500 mln IPO

German container carrier Hapag-Lloyd is looking to sell shares for a total US$500 million, and will seek listings in Hamburg and Frankfurt before the end of 2015. Hapag-Lloyd has confirmed that it is preparing for a US500 million initial public offering (IPO) this year, with the expectation that it will use some of the proceeds to order ultra large containerships. "This move will give us better access to the capital markets which will enable us to further invest in our business to become more competitive," Reuter quoted Hapag-Lloyd Chief Executive Rolf Habben Jansen as saying. Hapag-Lloyd may be valued at more than 5 billion euros in the IPO.

10 Dec 2014

TUI AG Eyes Timing on Hapag-Lloyd IPO

BERLIN, Dec 10 (Reuters) - TUI AG is optimistic it will be able to sell its stake in Hapag-Lloyd via an initial public offering of the shipping company, although the market environment is not the best at present, its chief executive said on Wednesday. Hapag-Lloyd is merging with Chilean peer Compania Sud Americana de Vapores but said last week an IPO was not a top priority. "Their motivation to float is huge," TUI AG CEO Friedrich Joussen said on Wednesday after the group reported annual results. Hapag-Lloyd has said it will consider adding mega container ships to its fleet to boost competitiveness. TUI AG owns a 22 percent stake in Hapag-Lloyd, which is classed as 'held for sale'. TUI values it in its books at 467 million euros ($578.75 million), which Joussen described as 'conservative'.

11 Sep 2014

Hapag-Lloyd, CSAV Merger Wins Conditional EU Approval

Photo: CSAV

Hapag-Lloyd and Compania SudAmericana de Vapores (CSAV) secured conditional European Union approval on Thursday for their tie-up to create the world's fourth-largest container shipping company. The merger is important for the shipping industry which hopes more deals could help it to overcome the worst slump on record. And if regulators take a soft line on any concessions required to allow the deal to proceed, this could spur more consolidation in the industry. The European Commission…

05 Sep 2014

EU to Approve Hapag-Lloyd, Vapores Deal with Conditions

Photo: Compania SudAmericana de Vapores

European Union antitrust regulators will conditionally clear a deal by Hapag-Lloyd and Compania SudAmericana de Vapores to form the world's fourth-largest container shipping company, two people familiar with the matter said on Friday. The case is important for the shipping industry where consolidation could help it to overcome the worst slump on record. And if regulators take a soft line on any concessions required to allow the deal to proceed this could spur more mergers in the industry.

14 Aug 2014

TUI AG Eyes IPO, Sale of Hapag-Lloyd

TUI AG is still open to a sale or flotation of its stake in container shipping company Hapag-Lloyd , its management said on Thursday. "Whichever comes first at a decent price, we will go for it," Chief Financial Officer Horst Baier told analysts after the group reported third-quarter results. Hapag-Lloyd is merging with Chilean shipper Vapores . After the closing of the deal, expected in autumn, and a capital increase, in which TUI will not take part, TUI's share of Hapag-Lloyd will fall to 13.9 percent. TUI has long been looking to exit container shipping in order to focus fully on tourism.   Reporting by Victoria Bryan

12 Aug 2014

Hapag-Lloyd Operating Profit Down on Lower Freight Rates

Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98.5 million), compared with an operating profit of 13.5 million euros a year earlier. "The fact that we ended up with this unsatisfactory result despite clear efforts to cut costs is down to the disappointing development of freight rates across all trades," Chief Executive Rolf Habben Jansen said in a statement on Tuesday. Its quarterly net loss widened to 173.3 million euros from 72.7 million a year earlier…

05 Aug 2014

TUI Cruises Expands to Six Ships by 2017

TUI AG and Royal Caribbean Cruises are substantiating their expansions plans for their joint venture TUI Cruises. The Mein Schiff fleet shall grow from now three to six ships and then 14,000 beds by 2017. TUI Cruises is strengthening its already sound and dynamic position in the German cruise market. Both the Boards of TUI AG and Royal Caribbean Cruises have decided to order the two newbuilds. The Mein Schiff 4 is currently being built and with the now decided new orders of Mein Schiff 5 and Mein Schiff 6 TUI AG and Royal Caribbean Cruises are investing in touristic growth markets. The parent companies of Hamburg-based TUI Cruises expect a sustained high demand in the cruise sector and therefore, in good time, came to the decision to expand further.

04 Aug 2014

TUI Cruises Orders Two Ships, Cruise Demand Up

TUI Cruises, a unit of TUI AG , is ordering two more cruise ships for its Cruises unit to reflect high demand for cruise holidays in Germany and Europe. The new ships will be delivered in 2016 and 2017 and will take the fleet of TUI Cruises to six ships, the company said on Monday. TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises, currently operates 3 cruise ships, with a fourth being built. TUI AG, which is currently in merger talks with London-listed unit TUI Travel Plc, had said in May it wanted to expand its cruise operations. "In Germany and in Europe the interest in cruises is increasing," TUI CEO Friedrich Joussen said in a statement on Monday. Reporting by Victoria Bryan

25 Jun 2014

TUI CEO Steps Aside from Charitiable Foundation Chair

Thomas Ellerbeck, member of the Management Board of the Germany-based travel and cruise ship firm TUI AG, has been appointed by the Group’s Executive Board to take over this mandate from Friedrich Joussen, who is CEO of TUI AG. (With Hapag-Lloyd Kreuzfahrten and TUI Cruises, TUI AG’s portfolio has two brands in its portfolia offering maritime holidays. It is also in a joint venture with Royal Caribbean Cruises Ltd. which offers cruises for the German-speaking market aboard the cruise ship Mein Schiff 1). TUI explain that Ellerbeck is the company’s Management Board member in charge of Corporate & External Affairs, including Politics, International Relations, Group Communications, CR and Sustainable Development, the TUI Foundation and the Trademarks, Patents and Licenses Department.

24 Feb 2014

Cruise Industry Poised for Global Growth

Norwegian Getaway

The global cruise industry and its fleet of increasingly large, ultra-modern ships is projected to continue its steady growth in 2014, powered by growth overseas, particularly in the German market, as well as the adoption of faster, stronger and generally better satellite communication technology that is moving toward the level of seamless, cost-effective communication connections that can be expected at a land-based vacation destination. The Cruise Lines International Association (CLIA)…

14 Aug 2013

Hapag-Lloyd Holding AG to Merge with Hapag-Lloyd AG

Hapag-Lloyd Holding AG will merge with Hapag-Lloyd AG, retrospective with effect from January 1, 2013. “This step is taken in order to simplify the group structure of Hapag-Lloyd and does not have any impact on shareholder equity”, said Jürgen Weber, Chairman of the Supervisory Board of Hapag-Lloyd AG. Shareholders of Hapag-Lloyd, TUI-Hapag Beteiligungs GmbH (TUI AG) and Hamburgische Seefahrtsbeteiligung “Albert Ballin“ GmbH & Co KG (“Albert Ballin“ consortium), now hold a direct share in Hapag-Lloyd AG. The merger has no impact on consolidated financial statements of Germany’s largest liner shipping company. The holding structure was set up during the takeover of the majority of Hapag-Lloyd by the Hamburg-based “Albert Ballin“ consortium in 2008/09.

28 Dec 2012

Cruise Ship Contract for Kone

Mein Schiff 3: Image credit TUI Cruises

Kone eco-efficient elevators and escalators to serve another TUI Cruises vessel, 'Mein Schiff 4'. The new cruise ship will be the sister ship of Mein Schiff 3, which will also have Kone's solutions installed onboard. Both vessels will be built at STX Finland, Turku shipyard, the former being set for delivery in the spring of 2014 and the latter in the spring of 2015. Kone's People Flow® solutions will facilitate the smooth and efficient movement of 3,500 passengers and personnel onboard the Mein Schiff 4.

13 Jun 2012

Hapag-Lloyd Supervisory Board Elects New Chairman

Dr Michael Frenzel, Chairman of the Executive Board of TUI AG, resigned from his position in the Hapag-Lloyd Supervisory Board as planned.   Dr Jürgen Weber, formerly Executive Board Chairman at Lufthansa, has been newly elected to the Supervisory Board as his replacement and was subsequently appointed the new Supervisory Board Chairman.   Dr Weber is already familiar with Hapag-Lloyd, having been a member of the Supervisory Board from 1992 to 1998. At that time Lufthansa still held a participating interest in Hapag-Lloyd.

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