Watson Farley & Williams (“WFW”) advised long-standing client TUI Cruises GmbH (“TUI Cruises”) on the delivery of the Mein Schiff Relax, the eighth ship in the Mein Schiff series and TUI Cruises’ first to be built at Italy’s Fincantieri shipyard.
The Mein Schiff Relax is the first of two InTUItion-class ships being built at Fincantieri for TUI Cruises. The vessel marks a new era for the Mein Schiff experience, setting new standards in terms of comfort, exclusivity and feel-good atmosphere. Its design combines spacious public areas with numerous places to retreat to for maximum relaxation. The Mein Schiff Relax appeals to a very broad target group with its wide range of offers – from single travelers to families. As part of TUI Cruises’ decarbonisation roadmap, the company is committed to using a range of climate-friendly fuels, including biodiesel, biomethanol and bio-LNG, as well as synthetic fuels. Mein Schiff Relax is equipped with a dual-fuel engine and is the first liquefied natural gas ship able to use bio-LNG in future. WFW advised TUI Cruises on the building contracts, the financing arrangements and delivery of the ship.
TUI Cruises was established in April 2008 as a joint venture between TUI AG and Royal Caribbean Cruises Ltd. Based in Hamburg, the company combines both expertise in the tourism and cruise industries. It offers cruises in the upper-contemporary/premium, luxury and expedition market segments through two strong, complementary, award-winning brands: Mein Schiff, specialising in the upper-contemporary/premium segment and Hapag Lloyd Cruises, the only luxury brand in the DACH region operating in both the luxury and expedition segments. With the addition of Mein Schiff Relax, TUI Cruises’ fleet of 13 vessels, with over 24,000 berths, is one of the youngest in the world.
The WFW London Assets and Structured Finance team that advised TUI Cruises was led by Partner Lucy Shtenko working closely with fellow Partner Robert Platt and Senior Associates Katie Shiels and Philip Chope. Italy Associate Sergio Napolitano provided on the ground assistance at the delivery in Italy.
Lucy commented: “We are pleased to have advised TUI Cruises once again on the delivery of its next Mein Schiff vessel. It is great to see such a beautiful and progressive ship added to the fleet. The WFW team was delighted to continue to support TUI Cruises with this fleet expansion project which again demonstrates our unrivalled reputation for excellence within the maritime and cruise sectors across our international network”.
