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01 July 2025 - Year XXIX
Independent journal on economy and transport policy
19:25 GMT+2
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FORUM of Shipping
and Logistics


The demand remained strong during the first half of the year while the availability of ships was limited. This high demand came at a time when several 'Gdynia 2000' ships were immobilised for several months in order to change a major default on their main engine.

The market entered a bearish phase in the latter part of the year after the bull run of the previous months, with a relatively high level of availability and a slack demand. Rates remained flat despite this trend but were no longer rising.

Rates remained sustained for a 12-month period, while charterers covered long-term positions at lower levels with tonnage chartered for 36 or 48 months.

From $ 12,000 in the winter 1999-2000, rates for 'Gdynia 2000' ships (2,078 teu / 21 kts on 72 tons / 1995-97) went up to $ 17,000 in March. A ship of this design was fixed early November by Hamburg-S'd for 12 months at $ 17,750, with an option attached for a further 12 months at $ 18,750. Two 'Gdynia 2000' newbuildings were also fixed for 12 months by Lykes at a reported $ 18,000.

In December, modern 2,500 teu tonnage could be obtained for a 12-month period at around $ 17,000 / 18,000 instead of $ 22,000 in September.

A number of 2,500 teu newbuildings coming on stream in 2001 / 2002 were also chartered by batches. There was a consistent influx of orders in the 2,400 / 2,750 teu range, which was dominated by German owners. 74 ships were ordered in the course of the year in this narrow band. However, this sudden and massive ordering of 2,500 teu tonnage can be seen as a correction as there were so few orders in the 2,000 / 3,000 teu range in 1998-99. And it is market driven and not tax driven as it was in the mid-1990s.

CMA CGM MATISSE
2,205 teu, blt 1999 by China SB - Operated by CMA-CGM Group.

 

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The 1,500 / 2,000 teu size range market was very contrasted. During the first half of the year, a sustained demand combined with an unusual low number of newbuilding deliveries led to a severe shortage. The demand was not only fuelled by operators for their usual North-South routes, but also to plug gaps in East-West sailings, or even to make extra sailings (mainly ex China). Humble 1,600 teu ships were thus diverted from their usual work to go along with much larger ones.

With a lack of cellular tonnage in this category, conbulkers made a comeback. Some of them were equipped (or re-equipped) with the needed lashing gear to take advantage of the rates increase.

Szczecin-built 'B-170's rates passed the $ 15,000 mark during the summer, against $ 13,000 in May. CC1600s and Thyssen 1500s were also negotiated at rates circa the $ 15,000 mark during the summer period.

Uniglory took advantage of these strong rates through the chartering out of three of their 'P' class ships (1,618 teu / 18.5 kts on 41.5 tons / 1999-2000) to GWSL for a 24 month-period at a healthy $ 15,500, agreed upon in May for a July laycan.

After a sparkling first half, the market for 1,500 to 2,000 teu ships entered a period of hesitation at the end of the summer. The number of ships available remained low but the demand was itself lower. Some of the few ships open for charter were fixed at the very last minute. The rationalisation of the Europe-ECSA trade by Maersk-Sealand and Hamburg-S'd may have played a role at this time.

In November / December, the 1,500 / 2,000 teu range suffered a lot from an unexpected high number of prompt ships and few charterers. The cascading effect took its toll while rationalisations on some lines using 1,300 / 2,000 teu tonnage have driven ships out. Some ships had to wait several days or weeks before finding employment.

The glut of open ships for prompt delivery is partly explained by the relet of ships that were initially expected to be open for charter in the first half of 2001. The FESCO / GWSL agreement leads to replacing of two services using a total of nine or ten 1,300 / 1,700 teu ships by a single loop using five 1,600 / 1,700 teu ones.

Not only ships of 1,500 / 2,000 teu are squeezed out of the East-West liner trades through such rationalisations, but they also suffer from the introduction of 2,000 / 3,500 teu tonnage on key North-South trades (especially for South America). In a perfect world, they should shift to feeder trades or to intra-Asia trades, from where they would kick-out the 1,000 / 1,500 teu ships, and so on.

The reality is different. Ships of 1,500 / 2,000 teu are still too big for most of the feeder trades and many intra Asia long haul operators (East of Singapore) stick to their 1,000 / 1,500 teu ships.

Given this, it is not surprising that rates fell. Very few charters were concluded in the last weeks of the year. As more ships were building up, owners had to accept much lower rates. In December, B-170s were traded at around $ 12,500. Confirming the downward trend, two 1,740 teu newbuildings with a good speed (20.5 kts on 58 tons / 2001), were fixed by ANZDL for 12-14 months at $ 13,550 / 13,800. A low was reached by a 'BV 1700' (1,684 teu / 19 kts on 48 tons / 1995) which went to Heung-A in December for 12 months at only $ 10,500.
 

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The demand for ships in this size range remained consistent while the supply remained limited, at least until October. Furthermore, very few newbuildings were delivered (as well as in the 1,000 / 1,250 teu range). This is reflected in rates obtained by 'CS1400' vessels (1,388 teu / 18.5 kts on 46 tons / 1992-1995), which reached the $ 13,500 mark during the summer.

After these exceptional months, ships of 1,250 / 1,500 teu started to suffer for the same reasons as their 1,500 / 2,000 teu counterparts. Owners had then to accept lower rates than those enjoyed early September.

In May, a B-186 (1,354 teu / 19.5 kts on 48 tons / 1994) was negotiated at $ 13,200 with a July delivery for a 24-month period. In June, a sister ship was fixed by CMA-CGM at $ 13,875. In December, a sister vessel accepted $ 9,600 for 12 months with Kien Hung.

Illustrating the ups and downs throughout the year, a 'Merkur II' class ship (1,438 teu / 19 kts on 63 tons / 1982 - ice class), was extended in May for six months by Maersk-SeaLand at $ 11,250, a strong rise against the $ 6,500 it made in November 1999 for a similar extension. The same ship went in December to Senator Linie for a period of about four months at $ 8,200. In June, a trio of 18 years old 'Merkur II' ships went to APL for $ 10,800.
 

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Despite a rise and fall in rates over the year, the 1,000 / 1,250 teu ships were less affected than the 1,250 / 2,000 teu ones. The rate increase observed since the 1999 lows were also less spectacular. However, a few ships became prompt as the year 2000 came to its end and this put the rates under pressure. But the demand matched the offer and charter rates remained strong until collapsing at the turn of the year.

Rates peaked during the summer. In July, CMA-CGM extended a 'VW 1100' ship (based on 'BV1000' - 1,122 teu / 19.5 kts on 44 tons / 1996) for 12 months at $ 11,200 while a sister ship was fixed to DAL for $ 11,125. In September, a sister ship got $ 11,050 for a six month charter with Costa for its Transatlantic triangular service while two 'Sietas Type 146' (1,048 teu / 18.5 kts on 40 tons / 1994) were extended for 12 months by P&ON at $ 11,450.

'B-183' / 'RW49' type (1,012 teu / 17.5 kts on 29 tons / 1992-97) got $ 6,500 in January. Rates went up to $ 8,000 / 8,500 in May. In September, they were negotiated at their highest, circa $ 9,000 / 9,200 for a 3 or 6-month period. In November and early December, such ships obtained $ 8,000 / 8,300 for commitments of six to nine months.

The enhanced version (1,162 teu) got around $ 8,000 / 8,500 in March and peaked at $ 10,000 / 10,500 in September / October for a three to twelve month period. It went back to circa $ 9,500 in November for a 12-month period.

Nevertheless, rates went down abruptly at the turn of the year as shown by the $ 7,500 obtained in late December by a 'Gdynia 8125 - Planet' (1,128 teu / 18.5 kts on 37.5 tons / 1995) for a three month-period with Hanjin. A low rate which also reflects the fact that this ship had been relet by its previous charterer and was opened prompt. In October, a sister ship obtained $ 11,000 for a six-month commitment.

'Stadt 1100' ships (1,102 teu / 20 kts on 42 tons / 1998-99) got $ 10,000 in May, reflecting a slight premium for speed. This premium was also reflected with a series of 1,216 teu fast newbuildings (1,216 teu / 22 kts on 63.5 tons / 2000), which obtained $ 10,000 / 10,500 in May and $ 11,000 in December. They are deployed, or will be deployed, on intra Asia services. This is an interesting development as it shows a need for speed, which may cause a rise in demand for such ships by other intra Asia operators. However, at 22 knots, these 1,200 teu ships are quite unique.
 

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Rates for 800 / 1,000 teu ships climbed progressively during the year. There is a strong demand coming from regional feeder trades.

Illustrating the trend, a Turkey-built 'Box' class ship (812 teu / 18.5 kts on 33 tons / 2000) went to Shandong Marine at mid year for $ 6,700 while her sister obtained $ 6,100 in April. In August, a sister ship went to CMA-CGM for six months at $ 7,250.

In September, ships of 800 to 1,000 teu enjoyed a mini-boom. Fast, modern tonnage in this category passed the $ 10,000 mark, a level unseen since the peak period of 1995-96.

However, rates did not explode as they did for the large vessels but neither had they plunged as deep. Another factor may prevent any exaggerated rise: there are plenty of compact multipurpose tonnage around plying tramp trades that can easily be transferred to the feeder ship market.

A 'Szczecinska B-188' newbuilding (907 teu / 18.5 kts on 34 tons / ex-yard September) was reported fixed by Costa Container Lines in August at $ 8,750 for 12 months. Existing 'B-188' ships, which are slower (907 teu / 17.5 kts on 31 tons / 1995-1999) obtained about $ 8,100 / 8,600, against $ 7,500 four months earlier.

There is also a premium for speed in this category, as shown by the 12 months extensions by DAL of two 'Sietas Type 155' (910 teu e 19 kts on 37 tons / 1996) at $ 10,900.

By comparison, two older and slower 'Nordsino'-type ships (844 teu / 15 kts on 22 tons / 1983) were extended in September for 12 months by Hub Line at $ 5,500 for local intra Asia trading.

Ships of 600 / 700 teu are not performing as well as their 800 / 1,000 teu counterparts. In October / November, modern 650 / 700 teu cellular ships got $ 6,200 / 7,300, according to their speed. Two 'Sietas Typ 156' (646 teu / 17.5 kts on 32 tons / 1995) were extended for 12 months by OOCL at $ 7,225 / 7,325. Two 'Hakata 600 L' sisters (653 teu / 15.5 kts on 21 tons / 1997) were extended in October by APL and PIL for six and twelve months at $ 6,200/6,350 while a sister got $ 6,600 from P&ON one month earlier.

Signs of a slight improvement were also observed for the 500 / 600 teu range. Modern ships of 500 / 520 teu got $ 4,700 at mid year, against $ 4,300 / 4,400 two months earlier.

Rates for 'RW 39' ships (582 teu / 15.5 kts on 19 tons / 1980-1986) took off from the $ 4,000 / 4,200 in January to reach $ 5,000 in March, $ 6,000 in July. Rates remained strong, at around $ 6,000, for the latter part of the year.

However, in July, two 'Marcon 400' ships (408 teu / 16 kts on 17 tons / 1997) were fixed respectively to Associated Transport Lines (extension) and CMA-CGM at a reported $ 4,350. This shows a rate slide as both were fixed at a stagnant $ 4,700 during the past 12 months.
 


liner top operators


 

The containership second-hand market

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The chronic shortage of large ships (above 2,500 teu) and the impossibility to obtain newbuildings with a short notice may have triggered-off a decision, not seen in the recent years from a large operator to consider second-hand ships as a way to boost its fleet (with the notable exception of MSC). CP Ships has bought seven ships of around 3,000 teu to continue to develop the activities of its subsidiaries. This decision provides also an indication that the charter market for such ships is expected to remain bullish and on the owners side for some time.

Besides CP Ships, Norwegian and Israel buyers have dominated the second-hand market, confirming the trend observed in 1999. Sellers have been mostly East Asian operators needing cash in order to keep afloat their operation or to improve their end year results. It can be said that without these sellers, the volume of second-hand deals for ships above 2,500 teu would have been reduced.

The market for these large ships was shared equally between sales/charter-back deals and straight sales. Cash-strapped Korean owners continued to sell ships with t/c back. Norwegian owners continued to show an interest into buying such ships. This move can be interpreted as a wish to diversify their assets in order not to rely only on the bulker or tanker sectors.

In 2000, Korean owners Hyundai and Choyang have sold 10 ships of 2,700 to 4,400 teu, all with charters back to the sellers. The number of large Korean ships sold since the beginning of the Asian financial crisis in 1997 amounts to 26 sales. In addition to this, an order for five 6,400 teu ships, reported as contracted by Hyundai in late 1999, was taken over in the spring 2000 by the Ofer-controlled company Zodiac Shipping, with a ten year charter to Hyundai.

The activity has been very reduced in the 1,500 / 2,000 teu range. Strong charter rates, at least until the end of the year, may have played a role in dissuading owners to sell. Only four ships were reported sold in this category, including two resales of newbuidling contracts.

A dozen of cellular-ships were reported changing hands in the 1,000 / 1,500 teu range, most deals were straight sales. In addition, four multipurpose ships of 23,500 dwt / 1,200 teu were sold.

Generally speaking whilst the market substantially progressed all over the year 2000, the market reached a plateau in the summer, followed by a price softening for the medium/low size range. Nevertheless, it remained very difficult after the summer to trace charter-free quality ships in the large sizes (above 2,500 teu).

It looks like most of the owners decided to keep their vessels, enjoying lower but still comfortable market rates. After the summer, unless the lines required immediate tonnage, the buyers became more selective or even preferred not to move, awaiting to see where the market was going.

At the end of 2000 the market dropped, but we remain fully confident that the prices should pick up again as from summer or autumn 2001.
 




Shipping and Shipbuilding Markets in 2000

I N D E X

›››File
FROM THE HOME PAGE
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The European maritime-port sector nitpicks the reform of the Community customs rules
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Terminal Investments Limited of the MSC Group acquires 50% of the capital of Barcelona Europe South Terminal
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The Marevivo Foundation and the Federation of the Sea report it
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Lisbon
The largest quantities pass through ports in Belgium, Spain, Holland, Italy and Germany
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Cargo sous terrain plans to build a 500-kilometer system by mid-century
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Seoul
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Israel-Iran conflict prompts Maersk to suspend calls at Haifa port
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Those at the port of Ashdod will continue instead.
Northern European Nations Commitment to Counter Russian Shadow Fleet
Warsaw
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The Defense
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Cognolato (Assiterminal): Today more than ever we need a coherent port policy
Rome
All the critical issues highlighted in recent years still remain open - he highlighted.
Alessandro Pitto confirmed as president of Fedespedi
Milan
The Board of Directors, the Board of Arbiters and the Board of Auditors have been renewed
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Piraeus
The strike, declared illegal by the courts, blocks some ships of the Attica group in the port of Patras
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Ismailia
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Los Angeles
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Transfer of traffic handled by Portitalia to the port of Palermo
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Ports concerned about lack of certainty about demand from shipping companies
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Leghorn
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Suresnes/Paris
The Louis-Dreyfus family retains the remaining 20%
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Genoa
Ok also to the extension to the Campostano group
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Genoa
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RFI and MIT sign the update to the program contract for approximately 2.1 billion
Rome
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Genoa
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Pisano (AdSP Liguria Orientale): the ports of La Spezia and Carrara have integrated almost perfectly
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Raffaele Latrofa appointed president of the AdSP of the Central-Northern Tyrrhenian Sea
Rome
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India's Mazagon Dock Shipbuilders Acquires Control of Sri Lanka's Colombo Dockyard
Mumbai
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Genoa
The measure pending the restoration of the ordinary top management bodies
The Three-Year Operational Plan 2025-2027 of the Central Adriatic Port Authority has been approved
Ancona
Favorable opinion of the Sea Resource Partnership Body
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Genoa
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Andrea Ormesani is the new president of Assosped Venezia
Venice
The board of directors has been renewed. Paolo Salvaro remains general secretary
Witte (ISU): In 2024, the ship salvage sector stabilized from the low of two years ago
London
Finnish Elomatic to Install Tunnel Thrusters on 11 Carnival Cruise Ships
Turku
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The Assarmatori assembly will be held in Rome on July 1st
Rome
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Fincantieri has delivered the new cruise ship Viking Vesta to the American Viking
Trieste/Los Angeles
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The Genoa Coast Guard has placed the container ship PL Germany under administrative detention
Genoa
Italian Navy orders two new Multipurpose Combat Ships from Fincantieri
Trieste
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MSC Group to manage cruise services in the ports of Bari and Brindisi
Bari
Ten-year concession with possibility of extension
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Frankfurt am Main
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Deltamarin to design the six new ro-pax vessels ordered by Grimaldi for the Mediterranean routes
Turku
SAILING LIST
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Brussels
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Milan
"Grendi Star", with a load capacity of 2,800 linear meters, will connect Marina di Carrara and Cagliari
FREMM frigates operational support contract signed between Orizzonte Sistemi Navali and OCCAR
Taranto
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Call to reform the entire driver training system in the transport sector
Rome
Seven proposals presented
In the port of Gioia Tauro, the Guardia di Finanza soldiers seized 228 kilos of cocaine
Reggio Calabria
Two dockers arrested
Port of Livorno, new observatory to find solutions to the problem of port congestion
Leghorn
Marilli: We will seek solutions to reach the possible revocation of the port fee
Lockton PL Ferrari closed the last fiscal year with gross revenues of 34 million dollars
Genoa
Insurance premium volume rose to 350 million
Polish Trans Polonia Group acquires Dutch Nijman/Zeetank Holding
Tczew
It specializes in the transportation and logistics of liquid and gaseous products
d'Amico Tankers Sells Two 2011-Built Tankers for $36.2 Million
Luxembourg
They will be delivered to buyers by the end of July and on December 21st.
The Italian Merchant Marine Academy plans 13 new free courses
Genoa
Over 300 positions available
A delegation of Wista Italy visits the ports of Catania and Augusta
Catania/August
The association is made up of women who hold positions of responsibility in the maritime, logistics and trade sectors.
In the first five months of 2025, the port of Algeciras handled 1.9 million containers (-6.3%)
Algeciras
Empty containers decreased by -5.5% and full ones by -6.4%
Reway Group enters the port railway infrastructure maintenance sector
Licciana Nardi
Two contracts awarded by the AdSP of the Eastern Ligurian Sea
Delcomar and Ensamar take over maritime services with the smaller Sardinian islands
Cagliari
The tender for the six-year concession of the connections has been awarded
Port of Trieste, the newly appointed Gurrieri torpedoes the newly appointed Torbianelli
Trieste
Russo (Pd): it's a squalid power game
Singapore's SeaLead expands its maritime shipping offering to connect Turkey and Italy
Singapore
Route connected to services transiting the Suez Canal
The US Container Security Initiative program has been extended to Morocco
Rabat
Amrani: Let's consolidate Tanger Med's role as a safe and world-class maritime hub
Very positive first quarter for Greek Euroseas
Athens
Pittas: the positive momentum continued in the second quarter
Assonat and SACE present a plan for Italian tourist ports
Rome
Kuehne+Nagel has opened a new branch in Naples
Milan
The aim is to support the operational growth of the group in Southern Italy
RINA has acquired the entire capital of Finnish Foreship
Helsinki
The Helsinki-based company specializes in consulting in the field of marine and mechanical engineering.
Container traffic down at Barcelona and Valencia ports in May
Barcelona/Valencia
Resumption of containers in transit at the Catalan port
Annual cargo traffic in Greek ports stable in 2024
Piraeus
Domestic volumes are growing, while foreign trade is decreasing
Perplexity of freight forwarders, customs agents and maritime agents of La Spezia at the transfer of the port of Carrara to the Tuscan AdSP
The Spice
Timidly, they "hope for consideration for the progress made so far"
Francesco Mastro appointed extraordinary commissioner of the Southern Adriatic Sea Port Authority
Rome
He will take up office on June 30th.
John Denholm to be new president of the International Chamber of Shipping
Athens
He will take over from Emanuele Grimaldi in a year
Extraordinary commissioners of the two Ligurian Port System Authorities have been installed
Genoa/La Spezia
Matteo Paroli and Bruno Pisano at the helm of the institutions
Container traffic at Hong Kong port drops sharply in May
Hong Kong
1.05 million TEUs were handled (-12.7%)
Assogasliquidi-Federchimica shows the way to accelerate the decarbonization of road and maritime transport
Rome
Amadei: Our sector is ready and the time has come for courageous industrial choices
Eagle S tanker command blamed for cutting submarine cables in Gulf of Finland
Advantages
The accident was caused by the ship's anchor
Online platform to report critical issues that put transport workers at risk
Genoa
It was prepared by Fit Cisl Liguria
GNV to create a direct summer connection between Civitavecchia and Tunis
Genoa
It will run alongside the historic route via Palermo
The unification of Grimaldi's concessions in the port of Barcelona has been completed
Madrid/Barcelona
The contract expires on September 20, 2035.
In the first five months of 2025, cargo traffic in Russian ports fell by -4.9%
St. Petersburg
A decrease of approximately -12% was recorded in May
Raben Logistics Group Creates Subsidiary in Türkiye
Milan
It will have 20 employees and a 2,000 square meter cross-dock warehouse
Alberto Dellepiane confirmed as president of Assorimorchiatori
Rome
The composition of the entire association leadership remains unchanged
Agreement between Fincantieri and Indonesian PMM to develop solutions to face new unconventional underwater challenges
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
The Assarmatori assembly will be held in Rome on July 1st
Rome
"Mediterranean against the current" the theme of the meeting
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
››› Meetings File
PRESS REVIEW
US has its eye on Greek ports
(Kathimerini)
Proposed 30% increase for port tariffs to be in phases, says Loke
(Free Malaysia Today)
››› Press Review File
FORUM of Shipping
and Logistics
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
Structural adaptation works on dock 23 of the port of Ancona awarded
Ancona
Intervention worth over 11.8 million euros
Conference on the role of LNG and bioLNG for the decarbonisation of transport and industry
Rome
The Federchimica-Assogasliquidi event will take place on Monday in Rome
Dutch Bolidt increases presence in cruise ship sector with acquisition of American Boteka
Hendrik Ido Ambacht
Contship Italia has acquired the Genoese customs services company STS
Melzo
The Ligurian company was founded in 1985
Francesco Benevolo has been appointed extraordinary commissioner of the AdSP of the Central-Northern Adriatic Sea
Rome
He is the operations director of RAM - Logistics, Infrastructure and Transport
Montaresi resigns as commissioner of the Eastern Ligurian Port Authority
The Spice
In the eight months of administration - he underlines - we have not lost even a second
Gurrieri has been appointed extraordinary commissioner of the AdSP of the Eastern Adriatic Sea
Trieste
Pending the completion of the formal process for the designation of the president
The commissioners of the AdSP of Western Liguria have handed over their mandate to Minister Salvini
Genoa
The decision is part of the process of designation and nomination of the new leaders
Confetra criticizes the provisions of the decree-law Infrastructure for road transport
Rome
The Confederation urges the blocking of the process of appointing the presidents of the port authorities
Taiwanese Evergreen, Yang Ming and WHL saw revenue decline in May
Keelung/Taipei
The decline is accentuated for the two main companies
South Korea's KSOE wins order to build eight 15,900 TEU containerships
Seongnam
The unit value of each vessel is approximately $221 million.
First port terminal for car traffic of Greek Neptune Lines
Piraeus
It will be inaugurated next year in the French port of Port-La Nouvelle
The assembly of the association of Genoese maritime agents and brokers will be held on June 16th
Genoa
Round Table on Genoa, the hub of the North West and the Mediterranean
BN di Navigazione Board of Directors Renewed
Genoa
BluNavy aims to reach one million passengers by 2025
Viking Line designs world's largest all-electric ro-pax vessel
Viking Line designs world's largest all-electric ro-pax vessel
Åland
Record Monthly Container Traffic at Turkish Ports
Ankara
In May, almost 1.4 million TEUs were handled (+17.6%)
Sergio Landolfi has been elected president of the Customs Association of the Port of La Spezia
The Spice
The board of directors has been renewed
The ferry industry elite will attend the Interferry conference in Salerno in October
Victoria
Event titled "Connections"
Uniport launches an initiative to support ALS research
Rome
Fundraising for the NeMO Clinical Center Serena Foundation Onlus
The Propeller Club of Genoa has analyzed risks and opportunities of using AI in the maritime and insurance sectors
Genoa
The importance of training in the use of technology was highlighted
Chantiers de l'Atlantique delivers luxury cruising yacht Luminara to The Ritz-Carlton Yacht Collection
Saint Nazaire
The ship will debut in Alaska
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