Fred Olsen Cruise Line’s (FOCL) acquisition of what are Bolette and Borealis now from Holland America Line last year has increased the capacity of the line and fuelled demand for cruises, parent company Bonheur ASA said in a statement

The acquisition of the former Rotterdam and Amsterdam formed part of an optimisation of FOCL’s fleet composition and increased the fleet’s capacity by approximately 25%. The ships, both built in the mid-1990s, replaced Black Watch and Boudicca, both of which dated from the early 1970s.

“With a higher yielding cabin mix, large attractive public spaces and with upgraded exterior and interior to FOCL’s customer-appreciated line of style, these vessels are expected to enhance FOCL’s earnings capabilities above pre Covid-19 levels. This is now further supported by a substantial increase in demand for cruises,’ Bonheur said in a statement.

FOCL reported a deeply negative EBITDA in the second quarter, mainly due to lay-up, mobilisation cost and overhead costs. EBITDA in the quarter was negative NOK 179 million compared to a figure negative by NOK 172 million in the same period last year.