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Bus crash in Mexico leaves 12 RCCL passengers dead, another 18 injured

  • Written by Kari Reinikainen
  • Category: Top Headlines

At least 12 people have been killed and another 18 injured after a bus carrying passengers from two Royal Caribbean Cruises Ltd (RCCL) ships crashed in Mexico, media reports said.

The vehicle overturned between Mahahual and Cafetal in Quintana Roo state in the south-east of the country, Travel Weekly in the UK reported on its website.

It was taking a total of 27 people from Serenade of the Seas of Royal Caribbean International and Celebrity Equinox of Celebrity Cruises on an excursion from Costa Maya to the ancient Mayan ruin at Chaccoben, the report said, adding that those on board were from the US, Italy, Sweden and Brazil.

Carnival says next year bookings ahead of prior year at higher prices

  • Written by Kari Reinikainen
  • Category: Top Headlines

Carnival Corporation & plc, the world’s ;atgest cruise shipping group, said its cumulative advance bookings for full year 2018 are ahead of the prior year at higher prices at this time. Since November, booking volumes for 2018 have been running well ahead of the prior year at higher prices.

The company expects full year 2018 adjusted earnings per share to be in the range of $4.00 to $4.30, compared to 2017 adjusted earnings per share of $3.82.

President and CEO Arnold Donald commented: "Despite booking disruptions from this year's multiple hurricanes, we are still heading into 2018 with a stronger base of business and higher prices than last year.”

“We have numerous efforts underway to keep the momentum going in 2018 and beyond, from our innovative approaches to increase consideration for cruising, including our recently announced partnership with Univision, to the further roll-out of our state-of-the-art revenue management system. In 2018 we also look forward to the delivery of four new cutting-edge ships, Carnival Horizon, Seabourn Ovation, AIDAnova, and Nieuw Statendam to further our strategic fleet enhancement program."

Based on current booking trends, the company expects full year 2018 net revenue yields in constant currency to be up approximately 2.5% compared to the prior year. The company expects full year net cruise costs excluding fuel per ALBD in constant currency to be up approximately 1.0% compared to the prior year.

As a result of higher fuel prices, forecasted fuel costs for the full year 2018 are expected to increase approximately $117 million compared to the prior year, net of realized fuel derivatives, reducing earnings by $0.16 per share. This is partially offset by favorable movements in currency exchange rates, which are forecasted to increase earnings by $0.08 per share.

Donald added, "We remain on track to achieve double digit return on invested capital in 2018. We are committed to the continued distribution of cash to shareholders through increasing dividends, currently totaling $1.3 billion annually, and ongoing share repurchases, which have exceeded $3 billion since late 2015."

Carnival final quarter and full year profits fall

  • Written by Kari Reinikainen
  • Category: Top Headlines

Carnival Corporation & plc, the world’s largest cruise shipping group, has reported a fall for its final quarter and full financial year net and operating results.

Group net profit for the three months to 30 November fell to $546 million from $609 million a year earlier and operating profit (EBIT) decreased to $548 million from $597 million. Revenues increased to $4.26 billion from $3.94 billion.

In the 12 months to 30 November, net profit fell to $2.61 billion from $2.78 billion and EBIT decreased to $2.81 billion from $3.07 billion. Revenues increased to $17.51 billion from $16.39 billion.

For the full year 2016, adjusted net income excludes unrealized gains on fuel derivatives of $236 million and other net charges of $37 million. Revenues for the full year 2017 were $17.5 billion, $1.1 billion higher than the $16.4 billion in the prior year.

"We exceeded the high end of our original full year 2017 guidance by $0.22 per share, achieving record cash from operations of $5.3 billion and another adjusted earnings per share record despite a significant drag from fuel and currency,” said Arnold Donald, President and CEO, in a statement.

“Our full year performance was led by over 4.5% growth in ticket prices while overcoming a variety of headwinds, affirming that our core strategy, which is anchored in delivering exceptional guest experiences, driving demand through marketing programs to increase cruise consideration, and introducing new more efficient ships through measured capacity growth all while leveraging our scale, can deliver consistent earnings improvements," Donald said.

Key information for the fourth quarter 2017 compared to the prior year:

Gross revenue yields (revenue per available lower berth day or "ALBD") increased 6.8%. In constant currency, net revenue yields increased 4.2% for 4Q 2017, better than September guidance of up 1.5% to 2.5%.

Gross cruise costs including fuel per ALBD increased 9.7 t. In constant currency, net cruise costs excluding fuel per ALBD increased 6.1%, in line with September guidance of up 6.0% to 7.0%.

Changes in fuel prices (including realized fuel derivatives) and currency exchange rates decreased earnings by $0.03 per share.

Voyage disruptions due to hurricanes reduced fourth quarter earnings by approximately $0.11 per share.