Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest cruise shipping group, has reported a significant deepening of third quarter loss as resumption of operations increased operating costs

Net loss for the quarter was $845.9 million or EPS of $2.29 compared to net loss of $677.4 million or EPS of $2.50 in the third quarter of 2020. The company had 11 of its 28 ships in service at  the end of September,

Revenue increased to $153.1 million compared to $6.5 million in 2020 as cruise voyages resumed in the quarter.

Total cruise operating expense increased 131.3% in 2021 compared to 2020 as cruise voyages resumed in the quarter.

“In 2021, cruise operating expenses were primarily related to crew costs, including salaries, food and other travel costs as ships were prepared to return to service, fuel, costs related to health and safety protocols and other ongoing costs such as insurance and ship maintenance,” the company said in a statement.

Fuel price per metric ton, net of hedges, increased to $693 from $592 in 2020. The Company reported fuel expense of $79.2 million in the period.

Interest expense, net was $161.2 million in 2021 compared to $139.7 million in 2020. “The increase in interest expense reflects additional debt outstanding at higher interest rates, partially offset by lower LIBOR, NCLH said.