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An alienated couple or a couple of lonely singles board a cruise ship. They rediscover love or find their soul-mates with the help of the ship's friendly crew. This was the general story line for the TV series "The Love Boat," which aired in Korea back in the 1980s. With a multitude and variety of episodes featuring a wide cast of characters, the series was broadcast in the U.S. for 10 years, from 1977 to 1986. The program contributed greatly to making recreational cruises, which previously had been the reserve of wealthy retirees, a popular travel choice for the masses.
ĒšIt was Carnival Cruise Lines, the world's largest cruise ship company, that first introduced "Love Boat"-style cruises. Carnival started in the industry with a single ship remodeled from a freighter in 1972, and created a boom by attracting young customers under the motto "The Fun Cruise." The idea was not just about taking passengers to tourist attractions or resorts, but letting them enjoy rest and recreation on board. Some Carnvial ships make no stops for six or seven days, navigating through the Caribbean and hosting around-the-clock parties on the ship.
ĒšThese days, large cruise ships are as good as five-star hotels in Las Vegas. The world's largest cruise ship, "Freedom of the Seas," is furnished with a host of facilities, including a 1,300-seat theater, a large casino, four swimming pools, an outdoor sauna, an artificial wave surfing pool, an ice rink, an inline skating rink, an artificial rock wall, a shopping mall, a wedding chapel, and even a library. It would be difficult to visit all the attractions in just a few days.
ĒšIn the shipbuilding industry, cruise ships are highest value-added vessels. A large container ship costs US$120 million, a large oil tanker $140 million, and a liquid natural gas ship $240 million. But a large cruise ship is far more expensive, costing $500 million to $700 million. The shipbuilding cost per ton is $5,500 for a cruise ship, seven times as high as that of a large oil tanker ($800 per ton). Cruise ships cost more because of their hotel-style auxiliary facilities.
ĒšSTX Shipbuilding has bought a large stake in Oslo, Norway-based Aker Yards ASA, the world's second largest cruise ship builder, for $800 million. Until now, no world-class level Korean shipbuilders have been involved in the large cruise ship building industry. It was hard for them to break open the gate of the European shipbuilders' near-monopolistic system, since cruise ship building requires special designing, planning, and interior technology. Mitsubishi Heavy Industries of Japan attempted several years ago to build cruise ships, but only ended up running up a deficit of hundreds of billions of won (US$1=W918). STX has not been able to develop the needed technology and know-how to build cruise ships on its own. But the company found a solution with its takeover of the Norwegian shipbuilder. Hopefully this overseas endeavor will prove fruitful for STX.
This column was contributed by Chosun Ilbo in-house columnist Kim Ki-cheon.
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