Onsite: Silversea and Oceania Announce New Builds

MIAMI-Two luxury operators announced they would be expanding their fleets at a session on the upscale cruise sector at the Seatrade Cruise Shipping Convention in Miami on Tuesday. Frank Del Rio, chairman and CEO of Oceania Cruises, uncharacteristically announced in advance of a scheduled press conference Wednesday morning that the line had in place a multi-ship order with the Fincantieri shipyard worth $1 billion. Further details should be disclosed at Wednesday's press conference. Oceania Cruises was acquired by Apollo Management last month in a deal worth approximately $850 million. Subsequently, Silversea's president, Amerigo Perasso, announced that his line had a memorandum of understanding in place for a new build, also with Fincantieri, with an option for another. The 36,000-gross-ton, 540-berth ship is scheduled to be delivered in the fourth quarter of 2009. The order is the first for Silversea since 1998 when contracts for Silver Shadow and Silver Whisper were signed.

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