Genting Hong Kong, the parent company of Star Cruise, Dream Cruises and Crystal Cruises, said that it expects smaller first half loss than a year ago..
Based on the preliminary assessment of the latest unaudited financial information, excluding the share of results of Travellers, the Group is expected to record a consolidated net loss in the range of $150 million to $170 million for the six months ended 30 June 2018, the company said in a statement.
This compares with a consolidated net loss of $205.4 million, excluding the share of results of Travellers, for the six months ended 30 June 2017.
Such expected reduction in the consolidated net loss of the Group is mainly attributable to the improved performance of the cruise segment.
However, the improved performance of the cruise segment is partially offset by a lower cost capitalisation in the shipyards for the six months ended 30 June 2018 as the keel laying of the 20,000 gross ton Crystal Endeavor and the first 204,000 gross ton Global Class ships will be in August 2018 and September 2018 respectively, which will subsequently increase the rate of production and cost capitalisation.
Fincantieri has signed a memorandum of agreement (MoA) with Princess Cruises, brand of Carnival Corporation & plc, the world’s largest cruise ship operator, for the construction of two next-generation 175,000-ton cruise ships which will be the largest ships built so far in Italy with deliveries scheduled in Monfalcone in late 2023 and in spring 2025.
The vessels will accommodate approximately 4,300 guests and will be based on a next-generation platform design, being the first Princess Cruises’ ships to be dual-fuel powered primarily by Liquefied Natural Gas (LNG), the marine industry’s most environmentally friendly advanced fuel technology and the world’s cleanest burning fossil fuel, which will significantly reduce air emissions and marine gasoil.
“This revolutionary platform for next-generation, LNG-powered cruise ships will introduce innovative design and leisure experiences driven by the future vacation and lifestyle trends of our guests – further evolving the already best-in-class Princess Cruises experience we deliver today. We look forward to collaborating with Fincantieri to bring our vision for this next- generation premium cruise ship into service” said Jan Swartz, President of Princess Cruises.
While commenting the announcement, Giuseppe Bono, CEO of Fincantieri, stated: “We are proud to further extend our long-established partnership with Princess Cruises, a brand we are indeed tied to since our comeback to the cruise ship industry in 1990. After so many years, we are getting ready to enter, together, into a new era of our industry, increasingly aimed at reducing environmental impact. We proudly do this with an all-time record project, both in terms of size and technological level”. Bono concluded: “We believe that there are no more significant milestones than these to reaffirm the market-leading positions we achieved. They allow us to keep a solid partnership between our country and the Carnival group - the largest foreign investor in Italy - and at the same time to maintain know-how and increase employment”.
Fincantieri has built 85 cruise ships since 1990 (62 from 2002), 65 of which for Carnival’s different brands, while other 49, including agreements, are currently being designed or built in the Group’s yards.
Cruise Lines International Association (CLIA) has announced that Cindy D’Aoust, president and CEO, will be stepping down at the end of the year to focus on family priorities.
D’Aoust will remain in her role until a successor is identified and will help oversee the transition of a new leader. CLIA’s Global Executive Committee are developing a transition plan that will include a search for a new president and CEO.
“CLIA has been fortunate to have Cindy at the helm for the last two years but we respect her decision to focus on her family and wish her all the best,” said Arnold Donald, Global Chair, CLIA and President and CEO, Carnival Corporation & plc.
CLIA has retained the services of executive search firm Russell Reynolds Associates to lead the search for a new president and CEO.
Lindblad Expeditions Holdings, Inc., the global leader of expedition cruises and adventure travel experiences, today announced that its Board of Directors has authorized the building of a new polar expedition ship. This state-of-the-art vessel, which is anticipated to be delivered in 2021, will be the next phase of Lindblad’s fleet expansion following the launch of the National Geographic Quest in July 2017, the addition of the National Geographic Venture in December 2018 and the delivery of the National Geographic Endurance in the first quarter of 2020.
As demand for high quality and authentic expedition travel continues to accelerate, both through market expansion as well as from sustained investment in their marketing and sales infrastructure, Lindblad is committed to expanding capacity to provide a growing audience with the opportunity to explore the world’s most unique and remote locations.
This will be the fourth polar vessel in the Lindblad Expeditions-National Geographic fleet, joining the National Geographic Explorer and the National Geographic Orion, currently in operation, and the National Geographic Endurance, which is scheduled for delivery in early 2020. The new vessel will be designed as the ultimate expedition platform with a focus on immersing our guests in these amazing geographies.
Sven-Olof Lindblad, President and Chief Executive Officer, said “We are extremely excited to announce the further expansion of our expedition fleet. This is the next step of our long-term growth strategy to capitalize on the expanding demand for high quality adventure travel. By marrying additional capacity with a dedicated and growing loyal customer base and fifty years of experience, we will be able to build upon our proven track record of delivering unparalleled expeditions to the world’s most remarkable destinations.”
Norwegian Cruise Line today announced enhancements to its 2019 and 2020 itineraries to leverage the strong global demand environment in highly sought after destinations.
Norwegian Joy will join sister ship Norwegian Bliss sailing seasonally in Alaska in summer 2019 and will offer Mexican Riviera and Panama Canal voyages in winter 2019/2020. Norwegian Pearl will sail to Europe as the cruise line’s sixth ship in the region in summer 2019, while Norwegian Jade and Jewel will significantly expand Norwegian’s presence in Australasia in winter 2019/2020. Maintaining Norwegian Cruise Line’s commitment to serving the Chinese cruise market, Norwegian Spirit will sail seasonally in China beginning summer 2020.
“The booming demand environment in our core markets around the world, coupled with Norwegian Bliss’ record-breaking performance, continue to exceed our expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “As a result, we are leveraging the strategic benefits of our growing fleet to quickly seize sizable opportunities in over performing, unserved and underserved markets to meet the demands of our global customer base and drive higher returns for our shareholders.”
In April 2019, Norwegian Joy will reposition to Seattle to offer 7-night voyages to Alaska, replacing Norwegian Pearl as Norwegian Cruise Line’s third ship in the region, joining Norwegian Bliss and Jewel. Prior to her arrival in Seattle, Norwegian Joy will undergo approximately $50 million in upgrades to enhance her already popular features and bring her designs and offerings to be virtually identical to those of her sister ship, Norwegian Bliss, the newest and most successful ship in the line’s 51-year history. To complement Norwegian Bliss’ itineraries and provide guests with more places to explore and experience the natural beauty of Alaska, Norwegian Joy will cruise a variety of itineraries featuring Juneau, Ketchikan, Skagway, Holkham Bay and Icy Strait Point, long recognized for its untouched wilderness, rich culture and fresh seafood. She will also call into Victoria, British Columbia.
“Norwegian Cruise Line expanded the Alaska cruise experience as the first line to sail to the state from Seattle over 24 years ago,” said Andy Stuart, president and chief executive officer of Norwegian Cruise Line. “I am extremely excited to further strengthen our presence in the region with the addition of Norwegian Joy, sister ship to Norwegian Bliss, the most successful ship in our 51-year history. With $50 million in enhancements including the addition of a Starbucks store as well as enhanced restaurant, bar and entertainment options, Norwegian Joy will be a welcome addition for guests looking to cruise on a world-class ship in one of the world’s most sought after destinations.”
He continued, “On these sister ships, guests will experience incredible ocean and glacier views from our stunning observation lounges and they’ll have access to the best-of-the-best at sea with entertainment options including Norwegian Joy’s Galaxy Pavilion, which features thrilling simulator rides and interactive video walls, as well as our race tracks and laser tag arenas, available on both ships.”
Following her inaugural Alaska season, Norwegian Joy will sail to Los Angeles for a season of Mexican Riviera and Panama Canal voyages in winter 2019/2020.This move will mark a turning point in the historically underserved winter cruise market on the West Coast of the United States with the arrival of a premier, state-of-the-art cruise ship.
Norwegian Joy’s new itineraries will be open for sale on July 24, 2018.