rss icon Subscribe
desktop mobile

MSC Cruises Pact for USD 1.7bln Loan for New Seaside EVO Ships

Image: MSC Cruises

Shailaja A. Lakshmi

Cruise liner MSC Cruises has reached an agreement for an EUR 1.5 billion (USD 1.74 billion) financing for two new Seaside EVO class cruise ships.

BNP Paribas, Unicredit and Cassa Depositi e Prestiti will provide EUR 1.5bn in financing for two Seaside EVO class passengerships. The financing syndicate of lenders also include SACE SIMEST, the Italian ECA, fully backing the credit line and stabilising the interest rate.

The first ship is expected to be delivered in May 2021 and the second in February 2023. With the addition of these new ships, MSC Cruises now has plans in place for up to ten new ships to be built by 2026.

The 339m long vessels, which are being built by Italian shipbuilder Fincantieri, will offer 2,280 cabins on board, as well as a larger deck and yacht club than their predecessors. As with the existing Seaside class ships, the new ships will be equipped with the very best state-of-the-art environmental technology, ranging from recycling and waste management systems meeting the very highest industry standards to the latest generation of energy-saving devices among others.

The Watson Farley & Williams (WFW) London Maritime team advising MSC Cruises was led by Partner and Global Maritime Group Head Lindsey Keeble, supported by Senior Associate Emily Widdrington and Associate Tanpreet Rooprai.

Partner Robert Platt advised MSC Cruises on the shipbuilding contracts. Lindsey and the team also advised MSC Cruises on the financing of the first two original Seaside class ships in 2015 and their delivery in November 2017 and June 2018.

Lindsey commented: "I'm delighted to have advised MSC Cruises once again on a transaction that represents a major step forward in the unprecedented and ongoing growth of their fleet, especially given the high environmental standards to which the new vessels comply. This deal also demonstrates the continued strength of the cruise industry".

Aug 7, 2018

 

Cruise Ship Trends

Meyer Implements CADMATIC Software at Finnish, German Yards

Left to right: Jukka Rantala and Jan Meyer (Image: CADMATIC)

Cruise ship building giant the Meyer Group is implementing CADMATIC’s design and information

Air Lubrication System Saves Fuel for Diamond Princess

Diamond Princess (Photo: Silverstream Technologies)

Silverstream Technologies said its Silverstream System air lubrication technology has been

Carnival Plans $200 Mln Cruise Ship Makeover

(Image: Carnival Cruise Line)

Carnival Cruise Line will spend nearly $200 million on a major makeover of the 1999-built Carnival

Passenger Vessels

Davie Delivers LNG-powered Ferry

The ferry MV Armand-Imbeau II built for the Canadian operator Société des traversiers du Québec (STQ), will operate on LNG fuel. (Image: Davie Shipyards)

Canadian operator Société des traversiers du Québec (STQ) has taken delivery of MV Armand-Imbeau II

At Least 22 Drown after Boat Sinks in Sudan

At least 22 students drowned on Wednesday when a boat carrying more than 40 people sank while crossing the Nile in northern Sudan, state news agency SUNA said.

Air Lubrication System Saves Fuel for Diamond Princess

Silverstream Technologies said its Silverstream System air lubrication technology has been retrofitted onto the cruise ship Diamond Princess, part of Carnival Corporation’s

Maritime Apps