March 2007

Regent Seven Seas Cruises unveiled five new Art, Design and Cultures Circles of Interest for Mediterranean and Baltic cruises this summer aboard the 700-guest, all-suite, all-balcony Seven Seas Voyager and 490-guest all-suite Seven Seas Navigator. Circles of Interest offer guests the opportunity to discover a destination through a lens of particular interest, with the insights of an expert guest host and the camaraderie of a smaller community of guests who share similar interests. As part of the recently launched Regent Art Experience and Endowment Program, a partnership with the Bass Museum of Art on Miami Beach, brings executive director and chief curator Diane Camber to Regent, leading guests on four Circles of Interest aboard three Mediterranean sailings.

Each of the four Circle of Interest programs includes a private welcome cocktail party, dinner, onboard lecture, and an exclusive shore experience with unique and private access. Participation is limited to 30 guests. In addition to planned onboard and on shore activities, Camber will help facilitate smaller community events where possible. The July 19 and Aug. 11 Mediterranean sailings aboard Seven Seas Navigator both feature two Circle of Interest programs. During the first Circle, "Power, Passion & Glory-Diane Camber's Florence," Circle of Interest guests will join Camber for visits to the Museum of San Marco; the Medici Chapels and six tombs of the Medici Grand Dukes, adorned with some of Michelangelo's most famous sculptures; the Piazza del Duomo, Baptistery and Cathedral; Brancacci Chapel; and a drive through the Piazzale Michelangelo. Guests will also explore the role of the Medici in religion and have a lunch of local flavor. Cost is $315 per guest.

The second Circle of Interest on those sailings is "Les Artistes de la Côte d'Azur," where Camber will share her knowledge of the works at the Musée Matisse and Musée Nationale Marc Chagall. Guests will also witness the beauty of the French Riviera through a private drive. Cost is $175 per guest. The Aug. 11 voyage includes a private discussion on "Modernity: Gaudí, Miró and Picasso." The Aug. 18 sailing of Seven Seas Navigator also features two Circles of Interest. The first, "Passione per l'arte-A Personal View with Diane Camber," includes a shore experience where guests will travel by private water taxi to the Palazzo Grassi in Venice, which holds the largest private contemporary art collection and is owned by Francois Pinault, one of the world's richest men. Later, a short ride brings guests to another bastion of contemporary art: the Peggy Guggenheim Collection, housed in her personal villa. Cost is $255 per guest. The second Circle of Interest on that sailing is "Stabbiano di Castelammare-Dig for History, Art and Local Flavor." A private coach will give guests the opportunity to see an excavation of the Roman villas of ancient Stabiae. En route back to Sorrento, guests will stop at a typical farm house to learn how mozzarella is made and have a light lunch of local specialties. Cost is $175 per guest. On the Aug. 18 voyage, the Circle of Interest programs will include an exclusive talk on the culture, art and architecture of the Adriatic. Camber will also discuss Caravaggio. Per person prices for European voyages featuring Art, Design and Cultures Circles of Interest start at $4,796. For more information, call 800-913-7245

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Silversea Cruises signed a memorandum of understanding for one 36,000-ton, 540-guest vessel from Italian shipbuilder Fincantieri with delivery scheduled for the fourth quarter of 2009. The line also signed an option for a sister ship with Fincantieri. The agreement with Fincantieri is conditional to final contract and financing. However, an irrevocable banking commitment, fully underwritten, has already been obtained and is only subject to the final loan agreement, the company said.

"This is a very exciting time for our company as we are now poised to further develop our unique style of luxury travel with a new generation of ship design," said Silversea Chairman Manfredi Lefebvre. Added Amerigo Perasso, Silversea's recently appointed president: "This newbuild order shows great confidence in the luxury segment's potential for greater demand. Silversea will be well positioned to fully meet this future demand in North America and our international markets."

The newbuild order is the first one for Silversea since 1998 when contracts for Silver Shadow and Silver Whisper were signed. Those vessels entered into service in 2000 and 2001, respectively. With the newbuild, Silversea's overall fleet capacity will grow from 1,356 berths to 1,896 berths, representing a 40 percent increase. Silversea said the purchase price and design details about the new vessel will be forthcoming over the next few weeks.

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Oceania Cruises signed a memorandum of agreement to build two 1,260-passenger, 65,000-ton ships for delivery in fall 2010 and summer 2011. The ships -- each valued at $500 million -- would be built at Fincantieri's shipyard in Genoa, Italy. The agreement includes an option for a third vessel for delivery in the second quarter of 2012. The deadline for firming up the orders is mid-May while the option would have to be exercised by September 2009. The agreement was announced Wednesday at the Seatrade Cruise Shipping Convention in Miami Beach.

"This is one of the Top 10 days of my life and one of the top two or three days in the history of Oceania Cruises," said Frank Del Rio, chairman and CEO of Oceania. "We started this company in 2003 with $14 million in capital."
Two weeks ago, equity firm Apollo Management invested $850 million to become the majority shareholder of Oceania, giving the line the capital it needs to expand. Oceania now operates three 684-passenger ships that were originally built by Del Rio's former company, the now-defunct Renaissance Cruises. The new ships will be more than twice the size of the current 30,277-ton ships, but Del Rio said the newbuilds will maintain the "country club atmosphere similar to a high-end European boutique hotel."

Staterooms will be about 50 percent larger, he said, with 96 percent having ocean views and 93 having private balconies. The 438 Concierge-level staterooms will measure about 300 square feet while the 125 Penthouse Suites will be about 500 square feet. Each ship will have two 2,500-square-foot, two-level Owner's Suites with private elevators and outdoor hot tubs. Other accommodations will include six Vista Suites at the front of the ship and 14 new 1,000-square-foot Oceania Suites on the top deck midships. There will be 26 inside cabins. The ships will boast food and wine enrichment centers for "culinary theater," Del Rio said, as well as movies at night.

Despite the size and cost of the ships, Del Rio maintains Oceania will be able to maintain its relatively affordable pricing for what will remain an upper-premium product. The line regularly offers two-for-one pricing and free economy air. "We want to maintain the price point of about $350 per day," Del Rio said. "It's a sweet spot in the industry.…We don't want to be in the luxury category." The new ships will also have six open-seating restaurants -- including a new Pan-Asian eatery and a French bistro -- that will carry no surcharges. Seating in all restaurants will equal 150 percent of the ship's capacity in a single sitting.

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