Fred. Olsen Cruise Lines kjøper cruiseskipene "Amsterdam" og "Rotterdam" fra Holland America Line

Håkon Lunde

Active Member
Fred. Olsen Cruise Lines kjøper cruiseskipene "Amsterdam" og "Rotterdam" fra Holland America Line.

Acquisition of cruise vessels and fleet optimization

Wholly owned subsidiaries of Bonheur ASA have today entered into agreements with HAL Nederland NV (part of the Carnival Corporation Group) for the acquisition of two cruise vessels to be operated by Fred. Olsen Cruise Lines Ltd., UK, which is also a wholly owned subsidiary of Bonheur.

The vessels, which will be renamed MS Bolette and MS Borealis, were built in 2000 and 1997 and weigh GT 62,735 and GT 61,849, respectively. They each have a capacity of approx. 1,400 available lower berths. This acquisition forms part of an optimization of the Fred. Olsen Cruise Lines' fleet composition and with a high yielding cabin mix and large public spaces, these vessels will enhance Fred. Olsen Cruise Lines' earnings capabilities once operations can safely resume. Delivery is expected to take place in the UK during September 2020.

Considering divestment of two vessels within the current fleet, such optimization of Fred. Olsen Cruise Lines' fleet composition will imply Bonheur itself contributing approx. GBP 7 million in financing to Fred. Olsen Cruise Lines. The remaining financing requirements, which shall also cover any re-branding costs, layup costs and pre-operating costs will i.a. be covered by a seller credit of GBP 22.3 million and operating cash flow in relation to the restart of cruise operations.

The seller credit will have a 5 years tenor with 3 years of zero amortization and subsequent annual instalments of GBP 7.43 million at a 2.5% fixed interest cost, an interest rate which reflects the negotiated parameters of the transaction.

As to when to resume cruise operations, Fred. Olsen Cruise Lines will continue to take advice and follow guidelines from relevant authorities, including the UK Government and Public Health England as well as overseas policies. A decision on safely resuming cruising will correspondingly be taken in close harmonization with such institutions.

By optimizing its fleet and operations, Fred. Olsen Cruise Lines is positioning itself to emerge from the current cruise pause in a stronger and more resilient position.
 

rd77

Active Member
I was hoping Fred. Olsen would make a move for a few new ships in the current situation, and thankfully they did. Perfect ships for them and they got them really cheaply.
 

Refvik

Administrator
Staff member
Fred. Olsen Cruise Lines confirms new ships Bolette and Borealis will take over from classic vessels Boudicca and Black Watch

Fred. Olsen Cruise Lines has today confirmed it will retire two classic vessels, Boudicca and Black Watch, as the company prepares to welcome two new ships, Bolette and Borealis, into the fleet.

The two new ships will take over existing itineraries for Boudicca and Black Watch, when cruising begins again with the company’s ‘back in the water’ plan for next year.

When Bolette and Borealis join the fleet it will increase Fred. Olsen’s overall capacity by circa 30 percent – meaning more guests can enjoy exciting new itineraries. Both vessels carry under 1,400 guests and have new and larger public areas, whilst remaining true to Fred. Olsen’s small ship experience.

Those guests who had cruises booked on the two classic vessels will be among the first to sail on the new ships, with their bookings being automatically transferred onto either Bolette or Borealis. Additional cabins will go on sale in early September.

Peter Deer, Managing Director at Fred. Olsen Cruise Lines, said:

“I am pleased to say we are now at the stage of finalising our back in the water plans and we are very excited to be doing this with two new vessels within our fleet.

“While we are still looking at a number of options for Boudicca and Black Watch, what we do know is that they won’t resume sailing with us when we do start to cruise again.

“We know that these ships are much loved among our guests, as indeed they are by us, but it is time to evolve and look ahead to a long and bright future for Fred. Olsen Cruise Lines.

“We will soon be revealing more details on our plans to resume sailing again, but in the meantime we hope many of you will join us on our virtual farewell cruises to see our two ships off in style.”

As part of Fred. Olsen’s virtual cruise programme, the company will be holding virtual farewell sailings for both Boudicca and Black Watch on Facebook, with guests and crew invited to share their favourite photographs and memories of the two ships.

The virtual cruises will be held for two weeks starting from Monday, 24th August.

Guests who were booked to sail on Boudicca and Black Watch will automatically have their booking transferred to the same itineraries on Bolette or Borealis, and will be contacted by Fred. Olsen Cruise Lines with final details in the coming weeks.

Kilde: Fred. Olsen Cruise Line
 
Noen bilder fra Rosyth der flåten til Fred Olsen ligger til kai hos verftet Babcock. Godt underveis på malejobben på "Bolette" og "Borealis".
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Bildene er postet med tillatelse fra Barbara Wade
 
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