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Royal Caribbean Group ship disposals reach double digits

January 27, 2021 Cruise News, Headline News No Comments

A report in Cruise View says that we have all tended to focus on cruise ship disposals by Carnival Corporation and as a result of the demise of CMV, maybe because Carnival has been a tad more vocal about them, whereas their nearest rival, Royal Caribbean Group, who last year signalled a change of direction by becoming Royal Caribbean Group rather than simply Royal Caribbean, has perhaps been a tad less vocal in its group vessel disposal.

Royal Caribbean Group includes Royal Caribbean International, Celebrity Cruises, Silversea, Azamara as well as a 49% share in Pullmantur Cruises and a 50% share in a joint venture TUI Cruises whose brands include TUI Cruises, Hapag Lloyd and Marella Cruises., with a number having disposed of vessels.

This week the group also announced it had sold Azamara and its three ships for only $USD210m to Sycamore Investments, I would imagine for a lot less than one of those ships would cost to build today, with it also rumoured than the new owners have also acquired another former R ship, the former Pacific Princess.

The article in Cruise View goes further in suggesting that while the sale of Azamara is a surprise move, it is one of benefit to Royal Caribbean and Azamara as it allows the brand through its new owners Sycamore Investments to expand in the future without competing for funds with other Royal Caribbean companies.

GTM comment: If there was ever a fire sale of a cruise company then the sale of Azamara and its three fabulous ships for only $US210m has to be one – that is even dividing the $210m by the three ships and forgetting the brand and the business that is only $USD70m per ship!

Amazing when you consider that back in the very 2000’s when the R ships were built they were $USD200m each and that was considered very cheap!  So you could say that today Sycamore has had three for the original price of one and the brand and all it entails for nothing!

So, let’s check out which Royal Caribbean Group ships Cruise View says have been disposed of since the pandemic started:-

Name Tonnage Year built Name Buyer
Azamara Journey 30277 2000 Azamara Sold to Sycamore Investments
Azamara Pursuit 30277 2001 Azamara Sold to Sycamore Investments
Azamara Quest 30277 2000 Azamara Sold to Sycamore Investments
Empress of the Seas 48563 1990 Royal Caribbean Sold to Cordealia Cruises
Horizon 47427 1990 Pullmantur Laid up in Greece
Majesty of the Seas 74077 1992 Royal Caribbean Sold to Asian owners
Marella Celebration 33933 1984 Marella Cruises Sold for scrap 7/20
Marella Dream 54763 1986 Marella Cruises Sold for scrap 9/20
Monarch 73937 1991 Pullmantur Scrapped 22/7/20 Turkey
Sovereign 73529 1988 Pullmantur Scrapped 23/7/20 Turkey

An edited report from Cruise View by John Alwyn-Jones

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