Genting’s fleet on track to grow to 22 ships by 2016


Manila: Genting Hong Kong, the company behind brands Star Cruises and Norwegian Cruise Line, says it will have a combined fleet of 22 ships by 2016, up from the current 18. The statistics come as a major refinancing initiative was signed today. 

Genting Hong Kong, formerly known as Star Cruises Ltd, owns 50% of NCL.

The company has been on a recent marketing tour through the Philippines. It commented that occupancy rates in Asia remain strong at 80%, with certain countries such as Singapore, registering more than 100%.  

Today, the firm also announced it has managed the refinancing of a large portion of its vessel outlay. It completed the signing ceremony for its US$600m seven-year senior secured vessel term loan and revolving credit facility and US$300 million three-year term loan and revolving credit facility.

“Genting Hong Kong believes this is an opportune time to undertake the refinancing exercise in view of current market conditions and the availability of bank funding at relative attractive pricing and terms,” the company noted in a release.  [26/11/12]

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