Hapag-Lloyd parent in cruise venture

Hapag-Lloyd parent in cruise venture TUI AG, parent company of container line Hapag-Lloyd, said it is launching a joint venture with Royal Caribbean Cruises Ltd. to serve the German cruise market.
   TUI Cruises will begin service with one ship in early 2009, and grow quickly with two newbuilds planned for 2011 and 2012.
   Sales and marketing for the new service will commence in spring 2008. Both partners will hold a 50 percent interest in the joint venture, which is subject to regulatory and board approvals before completion.
   The first ship to operate under the TUI Cruises brand will undergo renovations before entering service. The companies said the ship used by the company would cater to “meet the sophisticated needs of German- speaking customers seeking a contemporary/premium cruise experience. The onboard product will be custom-tailored to German tastes, and encompass food, entertainment and amenities. German will be the language used onboard as well.”