TUI Cruises Obtains Financing for Its Newbuild Duo

first_imgzoom German cruise operator TUI Cruises has secured financing from German banking consortium led by KfW IPEX-Bank for its order for two new ships from the Finnish yard Meyer Turku shipyard.The order follows construction of six sister ships at the yard and the latest ones are yet to become known as the Mein Schiff 7 and 8.Jointly with UniCredit and one other European commercial bank, KfW IPEX-Bank as one of the bookrunners structured the entire financing of the new ships for TUI Cruises and secured the order for the Meyer Turku shipyard with its commitment to finance the total loan amount. Additional banks contributed to the financing.“As one of the world’s leading providers of ship finance we are once again underlining our structuring expertise in the cruise sector with this commitment,” said Christian K. Murach, responsible member of the Management Board at KfW IPEX-Bank. “We are pleased to have been a reliable financing partner for the successful German shipping company TUI Cruises from the very beginning.”With its “Mein Schiff” fleet, currently comprising four vessels, TUI Cruises is one of the fastest-growing cruise operators in the German market. The fleet is to grow to six ships by 2017 when the vessels already under construction (Mein Schiff 5 and Mein Schiff 6) are completed. The two new ships that have now been ordered will respectively replace Mein Schiff 1 and Mein Schiff 2 in 2018 and 2019, thus contributing to the modernisation of the fleet, while also setting new standards in terms of environmental performance.last_img read more

WHO helps Viet Nam boost bird flu detection after two new reported

The World Health Organization (WHO) has warned several times over the past year of the potential evolution of the virus into a human pandemic which, in the worst scenario, could have a devastatingly deadly result.Increases in poultry marketing, transportation, and consumption with the approach of the Lunar New Year create conditions favouring the virus’s spread.WHO said it had received reports of laboratory tests from Ho Chi Minh City, Viet Nam, indicating that the children, who died on 30 December and 4 January, were infected with the H5 virus subtype, which last year infected 45 people in Asia, 32 of them fatally, and resulted in the deaths or culling of more than 100 million birds.The agency first issued a new call for heightened control measures in Viet Nam at the end of last month when another human case was reported. That person remains hospitalized in critical condition. read more