Monday, May 09, 2005

S.S. Norway Update - from Cruise Travel News

Norway Update

Last week we told you that Norwegian Cruise Lines'
(NCL) Norway,is scheduled to begin her journey to Port
Klang in Malaysia around the middle of this month.
At the time we reported that she would be used as part
of a yet to be disclosed "new venture" being planned by
NCL-parent company Star Cruises in Malaysia or Singapore.

This week, we have additional details and understand that
the current plan calls for the 1,035 ship to be converted
into a stationary hotel and casino and then incorporated
into a larger resort complex being built near the Singapore
cruise terminal. In February Star Cruises announced that
they had made a joint proposal with sister company Genting
International to develop an "integrated resort" facility at
the Singapore Marina Bayfront and Sentosa sites. Genting
International has owned, managed or financed resorts and
casinos in Australia, the Bahamas, the philippines and
the United Kingdom. Star Cruises and Genting International
are member companies of the Genting Group.

If the resort plan fails to materialize Norway would be
used as gambling ship sailing from Singapore. Under this
scenario, her damaged boilers would be sealed off and she
would operate at slow speeds powered by two of the remaining
boilers. It is unclear how realistic the backup plan is
given the state of the boilers and the potential liability
of operating them following the explosion in May of 2003
without significant and expensive repairs.

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