Louis acquires the Orient Queen

Louis Pcl exercised its right to acquire the ‘Orient Queen’ vessel from Orient

Queen Shipping Inc, which was previously acquired (in August 2006) through the bareboat/hire purchase method. The consideration price was USD 22 mln, eventhough the initial consideration price was USD 26 mln before the deduction of all rentals/fees paid as per the hire purchase contract terms.

The new ship has a capacity of 850 passengers and 370 cabins and is classified as a luxury cruise ship. The addition of the ‘Orient Queen’ increases the total fleet of LUI from 12 cruise liners to 13, with a total capacity of 12.100 passengers. The ‘Orient Queen’ is 15.780 tons and was fully refurbished in 2005 for USD 22 mln.