ONE Celebrates Naming of First Owned Newbuild as Expansion Proceeds

ONE Sparkle named today in South Korea is the company's first owned and operated newbuild (ONE)

Published Feb 14, 2025 3:11 PM by The Maritime Executive

 

Ocean Network Express (ONE) formed just eight years ago today marked the next milestone in its rapid emergence as one of the major carriers. The company celebrating the naming of its newest containership ONE Sparkle (138,000 dwt) which it reports is the first owned and operated newbuild for the company.

"The naming of ONE Sparkle represents another important milestone for ONE,” said Jeremy Nixon, CEO. “This vessel is our first owned newbuilding, and it also showcases our commitment to sustainable shipping with its innovative design and alternative fuel capabilities. As we expand our owned fleet, these advanced vessels will play a crucial role in meeting our environmental targets while enhancing our service reliability."

The company was established in 2017 through the integration of the container operations of K-Line, Mitsui O.S.K. Lines (MOL), and NYK Group. The first sailing was in 2018 and by its fifth anniversary, the company was highlighting had more than 165 services connecting 120 countries. Today, the fleet is up to 255 ships with a capacity of 1.97 million TEU placing ONE sixth on Alphaliner’s ranking of the largest carriers.

Nixon in 2022 mapped out the second stage of growth for the company reporting plans to invest $20 billion by 2030. He said the time had come for the company to begin placing its own orders for newbuilds and to own its ships. By 2030, Nixon said that they would contract for a total capacity of 1.2 million TEU, but approximately half of that would be replacements for existing capacity. AlphaLiner calculates the company currently has 47 vessels on order representing 610,558 TEU of capacity. In 2023, ONE also joined with the investment group as Seaspan was taken private. They operate OneSea Solutions as the ship management company which is jointly owned by ONE and Seaspan.

ONE Sparkle was part of an order for new ships being built by HD Hyundai Heavy Industries in South Korea and a parallel order placed with Nihon in Japan. Nixon said today during the naming for the new ship that it is part of a series of 20 large ammonia/methanol-ready vessels that will be built in Korea and Japan and scheduled for delivery in 2025 and 2026.

ONE Sparkle has a capacity of approximately 13,800 TEU and it is 1,00 feet (335 meters) in length. Among the advanced environmental features is the design enabling the future conversion to methanol or ammonia as its fuel. The hull design was also optimized for improved energy efficiency and it is outfitted with the latest energy-saving devices. Integrated smart technology will ensure optimal vessel performance. It also has the capability to employ shore power. The ship was classed by ABS and is registered in Singapore.

The new vessel is due to head out on its final sea trials in a week before her handover. Once delivered, ONE says the vessel will strengthen its competitive position in the service it is deployed to, and showcase the company’s commitment to sustainable shipping practices.

The company continues to grow its operations announcing new routes trans-Atlantic as well as Far East to South America and using ports such as Vietnam. It is also set to take a major role in the reformulated Premier Alliance that went effective this month. The cooperation between ONE, HMM, and Yang Ming is going it alone after Hapag-Lloyd withdrew to start its new cooperation with Maersk. 

Expansion Plans as Indian Cruise Market Develops

Cordelia operates with one cruise ship Empress built in 1990 (Cordelia Cruises)

Published Feb 14, 2025 2:10 PM by The Maritime Executive

 

 

The cruise market in India is continuing to grow drawing increased attention from multiple companies. Mostly it has been a port of call for cruise ships transiting the Indian Ocean, but it has also begun to develop a domestic cruise business.

Prime Minister Narendra Modi has designated cruise tourism as a priority sector. Cordelia Cruises which is the sole firm active in the market currently says India’s cruise industry is poised to substantially boost both domestic and international tourism while generating significant employment opportunities for the nation’s youth. Having launched operations in 2021, the company reports it has carried over 530,000 passengers and is operating close to its full capacity.

The board of the parent company, Waterways Leisure Tourism, reports that it has decided to pursue expansion including fundraising efforts. The group is targeting a funding of Rs. 800 crores ($92 million) possibly through an initial public offer. 

Cordelia was the latest effort to start a domestic Indian cruise line following a similar effort that started before the pandemic known as Jalesh Cruises. The firm did not survive the pause in operations during the pandemic and its sole ship the Karnika (ex. Pacific Jewel, Crown Princess built in 1990) was sold for scrap. The assets of the company were acquired by Waterways.

The company operates a sole cruise ship, the Empress (48,500 gross tons) with accommodations for 1,840 passengers. When the ship was introduced in 1990 as the Nordic Empress she was considered pioneering by incorporating mega-ship designs into a smaller vessel. She operated for Royal Caribbean International on short cruises later becoming the Empress of the Seas and for a time operating for the company’s Spanish company Pullmantur as the Empress. She was sold to lower costs during the pandemic.

Cordelia reports it will be in the market for two secondhand cruise ships each with a capacity of approximately 2,000 passengers.

“We are in discussions with major cruise companies from the U.S. and Europe who are looking to divest ownership of their smaller ships with passenger capacities ranging between 2,000 to 2,500 guests per ship, as they transition to newer vessels with capacities of 5,000-7,000 guests,” said Jurgen Bailom, President & CEO of Cordelia Cruises.

When asked if Cordelia has already closed a deal for the ship purchase, Bailom responded, “We have multiple offers from existing cruise lines as they upgrade their fleets with larger ships. Given the current market dynamics, it is an opportune time for us to expand our fleet.”

Resorts World Cruises which was started by Genting after Star Cruises and Dream Cruises collapsed, also reports it is planning to enter the Indian cruise market. Schedules were announced for the Resorts World One (75,000 gross tons ex SuperStar Virgo) to offer cruises from Mumbai between March and June 2025. The company highlighted that it would be tailoring its product to the Indian market with a variety of offerings and entertainment, thematic cruises, and authentic cuisines from around the world, including certified Indian vegetarian, Jain, and halal food. The launch however was deferred till 2026 due to a fleet redeployment as Resorts World Cruises adds its third cruise ship to the fleet this spring.

Other cruise lines including Costa have occasionally based a ship for short periods in India working with local companies to market the cruises. With India’s emerging middle class and the efforts by Prime Minister Modi to expand India’s economy, cruising stands to benefit and is poised to realize the developing opportunities.

Former Wärtsilä CEO Jaakko Eskola Becomes Meyer Turku Chairman

Former Wartsila CEO Jaakko Eskola becomes Chairman of Meter Turku (Meyer Turku)

Published Feb 13, 2025 5:37 PM by The Maritime Executive

Meyer Turku one of the handful of shipyards in the world with the expertise to build large cruise ships announced the appointment of the former CEO of Wärtsilä Jakko Eskola to lead the shipbuilder. Eskola has more than 20 years of experience before retiring from Wärtsilä in 2021 and held leadership positions at other Finnish companies including Cargotec, Kalmar, Suominen, and Varma, and he holds a Master of Science in Engineering.

“By handing over the chairmanship of the board to Jaakko Eskola, we are once again sending a strong signal of our commitment to Turku Shipyard, in which we as a family have invested heavily for over ten years,” said Bernard Meyer.

He becomes chairman as the shipyard continues a solid orderbook with Royal Caribbean International but also looks to attract new projects. A long-term relationship with TUI’s Mein Schiff Cruises came to an end in 2024 when the yard delivered Mein Shiff 7. Carnival Corporation built four of its large LNG-fueled cruise ships at Turku but the latest orders went to the sister yard, Meyer Werft, in Germany.

Meyer Turku is currently building the second of Royal Caribbean International’s mega cruise ships, Star of the Seas, which at 250,000 gross tons will be the largest cruise ship in the world. It is due to enter service later this year. Work has also begun on the third cruise ship of the class, rumored to be named Legend of the Seas, with the first blocks lowered into the dry dock in October 2024. The ship is due for delivery in 2026. Royal Caribbean also ordered a fourth vessel of the class for delivery in 2027 and took options to build a fifth and sixth Icon Class ship. 

The yard is also building two new Turva class patrol vessels for the Finnish Border Guard. The first will be delivered in 2025 and the second in 2026.

Meyer took ownership of the Turku shipyard in 2014 from STX Europe and the following year increased to 100 percent ownership. The yard trades its origins to 1737 and came to fame in the 1960s till 1990 as part of the Wärtsilä shipbuilder along with the facility in Helsinki. Historically, it built cruise ships including the first in the modern cruise industry for Royal Caribbean Cruise Lines, car-passenger ferries, and special vessels including icebreakers. It encountered financial difficulties in the 1990s. Meyer recently had to cede ownership of its yard in Germany as part of a rescue package from the German state.

“We have implemented several measures to turn our operations profitable again,” said Tim Meyer, CEO of Meyer Turku. “We have developed our organization, streamlined our processes, implemented a new enterprise resource planning system, and launched a development program.” While the yard delivered the Icon of the Seas in November 2023 as the world’s largest cruise ship, reports indicate as the lead of the class the company lost money on the construction due to the complex nature of the project.

Eskola joined Wärtsilä in 1998 with a background in international projects and corporate finance. He advanced at the company becoming President of Wärtsilä Marine Solutions and as of November 1, 2015, CEO and President of the company. Eskola was replaced in the spring of 2021 by Håkan Agnevall but continued as a senior advisor to the board and executive team until retiring on June 30, 2021.

Tom Johnstone, Chairman of the Board of Wärtsilä Corporation, credited Eskola with developing Wärtsilä into a smart technology company for the marine and energy markets.