Norwegian Cruise Line Holdings Ltd (NCLH, the world’s third largest listed cruise shipping group, expects potentially  “prolonged delays” in deliveries of ships it has on order.

“The Company expects that the effects of COVID-19 on the shipyards where its ships are under construction, or will be constructed, will result in delays in ship deliveries, which may be prolonged,” NCLH said in its firs quarter 2020 interim report.

The company has six Leonardo class ships on order for its Norwegian Cruise Line brand, with scheduled deliveries running from 2022 to 2027. Two vessels are due for Oceania Cruises, in 2022 and 2025, respectively, and one for Regent Seven Seas in 2023. All orders are with Fincantieri in Italy, according to SHIPPAX Info.

“As of March 31, 2020, anticipated capital expenditures for the remainder of 2020 were $0.4 billion with export credit financing in place for the anticipated expenditures related to ship construction contracts of $0.1 billion,” the company said, adding that it is finalising documentation for deferrals of approximately $170 million of newbuilding related payments, net of financing, due through March 31, 2021.

“Once deferrals are finalised, anticipated total capital expenditures for the remainder of 2020 will be approximately $195 million,” NCLH said.

The group made a net loss of $1.88 billion in the first quarter of the year, compared to a profit of $118.2 million a year earlier, as a $1.61 billion impairment charge hit the fresh figure.