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Oceania Cruises to upgrade Regatta class ships for $100 million

  • Written by Kari Reinikainen
  • Category: Top Headlines

Norwegian Cruise Line Holdings, Inc. (NCLH) has unveiled plans of major upgrade of four ships of its Oceania Cruises unit.

The four Regatta class ships of the upper premium market Oceania Cruises – Regatta, Insignia, Nautica and Sirena – will undergo a transformation of their guest accommodation and public areas. Starting in December, the investment will total $100 million, the company said on a video posted on YouTube.

The four ships are of about 30,300 gross tons and together with four similar ships currently in service with other operators, they were built in France at the turn of the Millennium for the now defunct Renaissance Cruises.

Studio Dado, the Miami based design company, has been appointed to produce the design of the new iteriors of the four ships, the video shows.

Norwegian’s all three brands shine in strong second quarter

  • Written by Kari Reinikainen
  • Category: Top Headlines

All three brands of Norwegian Cruise Line Holdings, Ltd (NCLH) performed well in the second quarter and the group posted better than forecast results.

Group revenues rose to $1.52 billion in the second quarter from $1.34 billion in the same periods year on, while operating profit reached $862.7 million compared to $752.4 million. Net profit rose to $226.7 million from $198.4 million.

In the first half of the year, NCLH’s revenues rose to $2.82 billion from $2.49 billion, while operating profit increased to $1.63 billion from $1.43 billion. Net profit reached $329.8 from $260.4 million in January-June last year

“The continuation of the robust booking environment from our core source markets, combined with the successful execution of demand creation strategies drove higher pricing across all three brands, resulting in second quarter revenue, yield and earnings growth well above expectations,” said Frank Del Rio, president and chief executive officer of  NCLH.

The group comprises the mass market Norwegian Cruise Line, premium segment Oceania Cruises and luxury market Regent Seven Seas Cruises.

“Global consumer cruise demand shows no signs of slowing as evidenced by solid organic growth and the hugely successful introduction of Norwegian Bliss, whose record-breaking performance surpassed our high expectations,” Del Rio stated.

 

 

TUI AG sees further strength in cruise after strong interims

  • Written by Kari Reinikainen
  • Category: Top Headlines

TUI AG, the Hanover based company that is listed in London, believes in further strength of the cruise market after its cruise operations delivered strong three and nine month results.

In three months to 30 June, the third quarter of its financial year, TUI’s cruise operations increased EBITA to €90.9 million from €67.3 million year on, while revenues rose to €227.3 million from €214.3 million.

In the first three quarters of its financial year, EBITA increased to €183.3 million from €142.1 million and revenues rose to €622.9 million from €560.2 million.

“Cruises continue to deliver a strong performance in 2018. All trends indicate that the growth of the cruise sector will continue in the next decade, the company said in a statement.

“TUI is prepared for that trend. It will expand its entire fleet by newbuilds scheduled for delivery in 2019, 2021, 2023, 2024 and 2026. The performance delivered by all three brands, TUI Cruises, Marella Cruises and Hapag-Lloyd Cruises, confirms the strong demand,” the company added.

 In the third quarter, TUI Cruises obtained anaverage daily rate of €200 per passenger, an increase from €183 year on. The Hamburg based company is 50/50 owned by TUI AG and Royal Caribbean Cruises, Ltd (RCCL).

The expedition and luxury market unit Hapag-Lloyd Kreuzfahrten increased its average daily rate by €9 to €571 and Marella Cruises in the UK by £12 to 3138 per passenger.

“TUI delivers a strong operational performance and has a good strategic positioning. Hotels and cruises deliver sustained earnings growth all year round,” said said Fritz Joussen, TUI Group CEO, who described the interims as”a good third quarter, very good nine-month results.”

“For the full year, we expect to deliver double-digit earnings growth for the fourth consecutive time. We have considerably reduced our seasonality and thus our susceptibility to external challenges through the Group’s transformation focussing on hotels and cruises,” he added.

 

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