Go Back   CruiseMates Cruise Community and Forums > Cruise Lines (Mainstream) > Royal Caribbean International
Register Forgot Password?

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old May 12th, 2004, 08:52 PM
APFr.
Guest
 
Posts: n/a
Default RCI does not own Brilliance of the Seas

For all you "RCI experts" out there, here is something new I found out today. RCCL is leasing Brilliance of the Seas.

I own a small amound of RCCL stock and I recieved the annual report today. I was suprised to see that they were commented on how their lease on Brilliance of the Seas may experience higher interest rates than usual with the economy. The lease is for 25 years and has an optional termination period after 10 years where RCCL would be forced to pay the remainder of the 25 year lease for the sale of the vessel. The document does not specify the lessor.

If you go to this page, and scroll down to page 31, there is alot written about it. There is also alot written about it elsewhere in the document.

It never even crossed my mind.

Adam
Reply With Quote
Sponsored Links
  #2 (permalink)  
Old May 12th, 2004, 08:54 PM
APFr.
Guest
 
Posts: n/a
Default Re: RCI does not own Brilliance of the Seas

Oh and the link is here:

http://www.corporate-ir.net/ireye/ir...rcl&script=700

2003 Annual Report.
Reply With Quote
  #3 (permalink)  
Old May 13th, 2004, 01:33 AM
APFr.
Guest
 
Posts: n/a
Default Re: RCI does not own Brilliance of the Seas

Does anyone care? I'm seroius, read the document (2003 annual report) on page 31!
Reply With Quote
  #4 (permalink)  
Old May 13th, 2004, 01:42 AM
Senior Member
Admiral
 
Join Date: Jan 2004
Posts: 1,007
Default Re: RCI does not own Brilliance of the Seas

Adam, The BR is owned by Halifax Leasing (September) Ltd.
Reply With Quote
  #5 (permalink)  
Old May 13th, 2004, 09:03 AM
Senior Member
First Mate
 
Join Date: Jun 2002
Posts: 359
Default Re: RCI does not own Brilliance of the Seas

Hello!

While I cannot speak to the cruise ship industry particularly, it is common business practice to lease capital equipment, rather than an outright purchase. Most of the time it is done for tax purposes, I would presume. Again, I can't specifically say that this is the case here, but the fact that RCI leases ships wouldn't surprise me.

I'm wondering why this is such a concern for you?
Reply With Quote
  #6 (permalink)  
Old May 13th, 2004, 09:49 AM
venice
Guest
 
Posts: n/a
Default Re: RCI does not own Brilliance of the Seas

that's a common practice for tax benefits..most airlines don't own their planes, they lease them
Reply With Quote
  #7 (permalink)  
Old May 13th, 2004, 06:58 PM
APFr.
Guest
 
Posts: n/a
Default Re: RCI does not own Brilliance of the Seas

It's the first time I've heard of it being done in the cruise industry! Roland, do you happen to know of any other ships that are not owned by the cruise line?

Thanks
Reply With Quote
  #8 (permalink)  
Old May 13th, 2004, 07:39 PM
Senior Member
Admiral
 
Join Date: May 2003
Location: Massachusetts
Posts: 4,771
Default Re: RCI does not own Brilliance of the Seas

Adam,

[i] For all you "RCI experts" out there, here is something new I found out today. RCCL is leasing Brilliance of the Seas.

I own a small amound of RCCL stock and I recieved the annual report today. I was suprised to see that they were commented on how their lease on Brilliance of the Seas may experience higher interest rates than usual with the economy. The lease is for 25 years and has an optional termination period after 10 years where RCCL would be forced to pay the remainder of the 25 year lease for the sale of the vessel. The document does not specify the lessor. [/i[

This is actually a fairly standard arrangement in the maritime industry. In fact, there's usually a separate corporation for each ship and the ship's officers actually sign their contracts with that corporation. Further, the ship corporations usually have enough outside ownership to guarantee that they are not "related corporations" with the principal corporate entity of the line. Such arrangements exist primarily for reasons of legal liability -- if a ship causes in a collision at sea or some other disaster, such arrangements prevent the injured parties or other creditors from touching the line's other ships to settle the debts.

Incidentally, the designation of "owners' suites" or desigation of suites by names of owners (i. e. the "Anderson Suite" and the "Wilcox Suite" aboard MV Grand Princess) usually does have real significance. Tthe major outside owners of the ship's corporation usually do have a legal right to use those suites whenever they wish, though they seldom actually go aboard.

Norm.
Reply With Quote
  #9 (permalink)  
Old May 13th, 2004, 07:50 PM
Senior Member
Cruise Maniac
 
Join Date: Apr 2004
Posts: 120
Default Re: RCI does not own Brilliance of the Seas



Post Edited (05-13-04 19:51)
Reply With Quote
  #10 (permalink)  
Old May 13th, 2004, 07:51 PM
Senior Member
Cruise Maniac
 
Join Date: Apr 2004
Posts: 120
Default Re: Re: RCI does not own Brilliance of the Seas

Sorry, wrong post...
Reply With Quote
  #11 (permalink)  
Old May 17th, 2004, 02:09 AM
Senior Member
Admiral
 
Join Date: Jan 2004
Posts: 1,007
Default Re: Re: RCI does not own Brilliance of the Seas

To the best of my recollection, the LG and SP for instance, are owned by Cruise Vision One and Cruise Vision Two respectively.
Reply With Quote
  #12 (permalink)  
Old May 17th, 2004, 05:36 AM
Senior Member
Cruise Maniac
 
Join Date: Jul 2001
Posts: 233
Default Re: Re: Re: RCI does not own Brilliance of the Seas

__________________
Never be afraid to try something new. Remember that a lone amateur built the Ark. A large group of professionals built the Titanic.


Explorer of the Seas


Explorer of the Seas

Adventure of the Seas
2006
Serenade of the Seas
2005
Navigator of the Seas
2004
Reply With Quote
  #13 (permalink)  
Old May 17th, 2004, 06:51 AM
Senior Member
Admiral
 
Join Date: Jan 2004
Posts: 1,007
Default Re: Re: Re: Re: RCI does not own Brilliance of the Seas

No big deal and you´re not missing anything Debby!
Reply With Quote
  #14 (permalink)  
Old May 17th, 2004, 12:37 PM
hcat
Guest
 
Posts: n/a
Default Re: RCI does not own Brilliance of the Seas

I learned something whether it's abig deal or not to some.--
Reply With Quote
Reply

Bookmarks

Tags
2006, annual, brilliance, bukkake, caribbean, cruise, doesnt, lease, leasing, payments, rci, royal, seas, ship, ships

Similar Threads
Thread Thread Starter Forum Replies Last Post
Brilliance of the seas or Navigator of the seas? please help duarten Royal Caribbean International 1 August 23rd, 2009 05:35 PM
Just booked on RCI (Brilliance) 12 Nt Mediterranean - Advice tlh17 European & Mediterranean Destinations 6 July 30th, 2007 07:00 PM
Ballroom dancing on RCI Brilliance Judye Entertainment on Ships 2 April 26th, 2005 05:32 PM
Brilliance of the Seas Ray & Sandy Royal Caribbean International 11 September 24th, 2002 10:10 PM
Brilliance of the Seas~~~~ Suzan Royal Caribbean International 3 July 22nd, 2002 09:31 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


 

All times are GMT -4. The time now is 11:04 AM.
design by: Themes by Design

Powered by vBulletin® Version 3.8.7 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.1