MS Sirena

MS Sirena is an R-class cruise ship originally placed into service in 1999 as R Four for Renaissance Cruises. Unlike vessels directly owned by Renaissance Cruises, R Four was held by a group of French investors. This ownership structure became significant when Renaissance Cruises entered bankruptcy in 2001: creditors seized the ship together with the other seven vessels in the company's fleet. In 2002, Princess Cruises obtained a two-year lease for R Four and its sister ship R Three, later known as Pacific Princess. R Four entered Princess service near the end of that year under the name Tahitian Princess. After the lease expired, Princess Cruises purchased both ships, making the vessel part of the Princess Cruises fleet. Its relatively compact size distinguished it from many of Princess's larger ships; during its Princess years, it and Pacific Princess were described as the two smallest vessels in the fleet. Princess Cruises renamed the ship Ocean Princess in November 2009. The change was intended to give the vessel a broader, more globally oriented identity rather than one tied specifically to Tahiti. Ocean Princess continued operating as a smaller cruise ship within the Princess portfolio until Princess announced in November 2014 that the vessel would be sold to Oceania Cruises under a finance agreement valued at $82 million. The transfer was completed in March 2016. After leaving Princess Cruises, the ship underwent a 35-day refurbishment in Marseille, France, costing approximately $40 million. The work prepared the vessel for a new operating identity and service concept under Oceania Cruises. It was renamed Sirena, christened on 27 April 2016, and entered Oceania service shortly afterward. Sirena's history therefore reflects several phases of the cruise industry's asset and brand management: construction and launch under Renaissance Cruises, creditor seizure during that company's bankruptcy, a lease and subsequent purchase by Princess Cruises, a change from a regionally suggestive name to a more global one, and finally a sale and major refurbishment for Oceania Cruises. The ship is best understood as a vessel-level cruise brand rather than an independent corporate company. Its identity has changed with each operator, while its underlying R-class platform and role as a relatively small cruise ship have remained central to its market positioning.

MS Sirena began its operational history in 1999 as R Four, a vessel associated with Renaissance Cruises. The ship was owned by a group of French investors rather than by Renaissance Cruises itself. When Renaissance entered bankruptcy in 2001, creditors took control of R Four along with the other seven ships in the company's fleet. Princess Cruises subsequently secured a two-year lease for R Four and the sister ship R Three in 2002. R Four entered Princess service near the end of that year and was renamed Tahitian Princess. When the lease period ended, Princess Cruises purchased both ships. The vessel became one of the smaller ships in the Princess fleet, operating alongside its sister ship, later called Pacific Princess. In November 2009, Princess Cruises renamed Tahitian Princess Ocean Princess. The stated rationale was to replace the more region-specific Tahitian identity with a name reflecting a wider global theme. Ocean Princess remained in the Princess fleet until the company announced its sale to Oceania Cruises on 25 November 2014. The transaction was structured under a finance agreement and was reported at $82 million. The ship left Princess Cruises in March 2016. Oceania Cruises sent it to Marseille, France, for a 35-day refurbishment reported to have cost $40 million. The refurbishment prepared the vessel for a new stage of its commercial life, including its new name, Sirena. It was christened on 27 April 2016 and entered service for Oceania Cruises. The vessel's history illustrates how cruise ships can change brand identities and operators over time while retaining the same underlying hull and class designation. Its principal transitions were from R Four to Tahitian Princess, from Tahitian Princess to Ocean Princess, and finally from Ocean Princess to Sirena. The changes corresponded to shifts in ownership, fleet strategy, geographic positioning, and refurbishment rather than to the creation of a new ship.

• 2016

  Transferred, refurbished, and renamed Sirena

  [1]MS Sirenaen.wikipedia.org

  The ship left Princess Cruises, underwent a major refurbishment in Marseille, and entered Oceania Cruises service as Sirena.

• 2014

  Sale to Oceania Cruises announced

  [1]MS Sirenaen.wikipedia.org

  Princess Cruises announced the planned sale of Ocean Princess to Oceania Cruises under a finance agreement.

• 2009

  Renamed Ocean Princess

  [1]MS Sirenaen.wikipedia.org

  Princess Cruises changed the ship's name to Ocean Princess to support a more global fleet identity.

• 2002

  Joins Princess Cruises under lease

  [1]MS Sirenaen.wikipedia.org

  Princess Cruises leased R Four and renamed it Tahitian Princess; the ship entered service with Princess near the end of the year.

• 2001

  Seized after Renaissance Cruises bankruptcy

  [1]MS Sirenaen.wikipedia.org

  Creditors seized R Four after Renaissance Cruises declared bankruptcy, together with the other vessels in the company's fleet.

• 1999

  Enters service as R Four

  [1]MS Sirenaen.wikipedia.org

  The R-class cruise ship began operations under the name R Four in association with Renaissance Cruises.

A relatively small, premium-oriented cruise ship positioned within Oceania Cruises after refurbishment and a transfer from Princess Cruises.

• Cruise ship · 1999

  MS Sirena

  MS Sirena is an R-class cruise ship whose commercial identity has changed several times during its operating life. It began as R Four, later became Tahitian Princess and Ocean Princess under Princess Cruises, and was renamed Sirena after its transfer to Oceania Cruises. Its comparatively small size has distinguished it from larger ships in the fleets in which it operated. Before entering Oceania service, it received a substantial refurbishment in Marseille in 2016.

• 2016

  Refurbishment and launch as SirenaProduct launch

  Background

  After its transfer from Princess Cruises, the ship required preparation for Oceania Cruises' fleet and brand.

  Action taken

  Oceania Cruises carried out a 35-day refurbishment in Marseille costing approximately $40 million, renamed the vessel Sirena, and christened it on 27 April 2016.

  Aftermath

  Sirena entered service as an Oceania Cruises ship after the refurbishment.

  Refurbishment cost. $40 million (2016 refurbishment)

  Source

• 2014

  Sale of Ocean Princess to Oceania CruisesM&A

  Background

  Princess Cruises announced that Ocean Princess would be transferred to Oceania Cruises under a finance agreement.

  Action taken

  The ship was sold for a reported $82 million and left the Princess fleet in March 2016.

  Aftermath

  The vessel received a new operator, a new name, and a major refurbishment before beginning Oceania service.

  Reported sale value. $82 million (2014 announcement)

  Source

• 2009

  Renaming from Tahitian Princess to Ocean PrincessGeneration change

  Background

  Princess Cruises sought a name with a broader geographic and thematic scope than Tahitian Princess.

  Action taken

  The company renamed the ship Ocean Princess in November 2009.

  Aftermath

  The vessel continued in the Princess fleet under an identity intended to support a more global positioning.

  Source

• 2002

  Princess Cruises leases and rebrands R FourStrategy

  Background

  Following the disruption caused by Renaissance Cruises' bankruptcy, Princess Cruises obtained a two-year lease for R Four and its sister ship R Three.

  Action taken

  Princess placed the vessel into service near the end of 2002 under the name Tahitian Princess and later purchased it after the lease ended.

  Aftermath

  The ship became part of the Princess Cruises fleet and continued operating as one of its smaller vessels.

  Source

1. 1MS Sirenaen.wikipedia.org