Wärtsilä receives repeat order from Prestige Cruise Holdings for comprehensive maintenance agreement
June 27, 2014 - London
Wärtsilä Corporation, Press release, 27 June 2014 at 11 am EET
Two vessels have been added to the five-year maintenance agreement that was signed between Wärtsilä, the marine industry's leading solutions and services provider, and US-based Prestige Cruise Holdings, Inc. (Prestige), the parent company of Oceania Cruises and Regent Seven Seas Cruises. The agreement now covers eight vessels with a total of 35 Wärtsilä engines.
The tailor-made agreement that was signed in 2012 with Prestige is one of the most comprehensive yet for the cruise industry. The depth and scope of the agreement covers pro-active planning by both companies working in co-operation. It also involves dedicated teams from both parties, which will work closely together to ensure maximized lifetime, reduced operational costs and optimal performance of the Prestige fleet.
The broad scope of services that are provided under this agreement include maintenance planning, technical surveys, condition monitoring, spare parts supply, training and workshop services. This agreement ensures the certainty of Prestige's operations by transferring the responsibility for their vessels' maintenance to Wärtsilä. It also increases Prestige's financial predictability by covering maintenance planning and service with fixed prices.
"We have been very satisfied with our cooperation with Wärtsilä. Wärtsilä has displayed their ability to deliver the value that they promised in the agreement, providing us the peace of mind through risk sharing and a streamlined cost structure," says Robin Lindsay, Executive Vice President, Vessel Operations, Prestige Cruise Holdings.
"The purpose of maintenance agreements is to enable customers to focus on their core business. We are very pleased that Prestige sees the added value in this agreement with Wärtsilä and has chosen to add two more vessels," says Sean Carey, General Manager of Contract Management, Wärtsilä North America, Inc.
Wärtsilä is a global supplier of a full range of products, solutions and services for the marine industry. This capability is backed by the industry's most complete network of service and repair facilities with operations in more than 160 locations in nearly 70 countries. The company's Services & Support Business has the broadest offering in the industry. It ranges from basic support, installation and commissioning, performance optimization, upgrades, conversions and environmental solutions to service projects and agreements focusing on overall equipment performance and asset management.
Wärtsilä Press release 15 March 2012: Wärtsilä signs long-term service agreement with Prestige Cruise Holdings
For further information, please contact:
Wärtsilä North America, Inc.
Sean F. Carey
General Manager, Contract Management USA
Tel : +1 954 327 4700
Tel: +358 40 167 1755
Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2013, Wärtsilä's net sales totalled EUR 4.7 billion with approximately 18,700 employees. The company has operations in more than 200 locations in nearly 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.
Prestige Cruise Holdings in brief
Prestige Cruise Holdings is the parent company of Oceania Cruises and Regent Seven Seas Cruises. Formed in 2007 to manage select assets in Apollo Management's cruise investment portfolio, PCH is led by Chairman and CEO Frank Del Rio, the founder of Oceania Cruises. PCH is the market leader in the upper-premium and luxury segments of the cruise industry with nearly 6,500 berths between the Oceania Cruises and Regent Seven Seas Cruises brands.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wärtsilä Oyj Abp via Globenewswire