Viking announces launch of initial public offering

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 23 April 2024 23 April 2024

Viking Holdings Ltd (“Viking”) yesterday announced the launch of its initial public offering of 44,000,000 ordinary shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). Viking is offering 11,000,000 ordinary shares and the selling shareholders are offering 33,000,000 ordinary shares. In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 6,600,000 ordinary shares to cover over-allotments. The initial public offering price is currently expected to be between $21.00 and $25.00 per ordinary share. Viking has applied to list its ordinary shares on the New York Stock Exchange under the ticker symbol “VIK.” The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

BofA Securities and J.P. Morgan (listed in alphabetical order) are acting as lead underwriters and representatives for the proposed offering. UBS Investment Bank and Wells Fargo Securities are also acting as lead book-running managers. HSBC and Morgan Stanley are acting as bookrunners for the proposed offering, and Rothschild & Co, Stifel, Drexel Hamilton, LLC, Loop Capital Markets LLC and R. Seelaus & Co., LLC are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, telephone: 1-800-294-1322, or email: This email address is being protected from spambots. You need JavaScript enabled to view it.; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204, or email: This email address is being protected from spambots. You need JavaScript enabled to view it..

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Princess Cruises and Fincantieri announce to postpone delivery of Star Princess

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Written by Teijo Niemelä Teijo Niemelä

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Published: 21 April 2024 21 April 2024

Princess Cruises and shipbuilder Fincantieri announced on April 19 the mutual decision to postpone the delivery of the next Sphere Class ship, Star Princess.

Following a comprehensive review of the remaining construction milestones, both parties have elected to adjust the ship's delivery date from July 29, 2025 to September 26, 2025, which will result in the cancellation of the nine inaugural sailings.

"Despite our collective dedication and relentless pursuit to deliver the ship in late July, it has become evident that additional time is required to ensure the Star Princess is delivered to the highest standards expected by our guests," said John Padgett, president of Princess Cruises.

The new inaugural sailings of Star Princess will sail roundtrip from Barcelona and include an 11-day Mediterranean voyage on October 4, 2025, and a 7-day Mediterranean voyage on October 15, 2025, that precede a 14-day transatlantic crossing to Fort Lauderdale on October 22, 2025 for the ship's first Caribbean season. These three new cruises will open for sale on April 30, 2024.

Guests who are booked on any of the impacted voyages will be given three options: book any Princess cruise worldwide, including aboard the new Star, sister ship Sun Princess, or any other Princess ship.

Guests who elect to rebook will receive future cruise- and onboard-credits depending on the cruise they select. Guests will also have the option to cancel and receive a full refund of the cruise fare.

Princess will protect travel agent commissions on all bookings that have been paid in full.

Star Princess is the second in the new Sphere Class of ships for Princess. Sister ship Sun Princess, built by Fincantieri in Monfalcone, debuted in February and is hailed as the next level Love Boat featuring the iconic and elegant structural lines Princess is known for, while delivering an evolution of the brand with new eye-catching architectural spectacles like The Dome, the cruise industry's first geodesic feature on the top deck, and The Sphere, the suspended glass Sphere Piazza at the center of the cruise ship.

MSC Cruises announces summer 2025 deployment in the U.S.

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Written by Teijo Niemelä Teijo Niemelä

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Published: 18 April 2024 18 April 2024

MSC Cruises announced its lineup of summer 2025 itineraries for the North American market today, with four ships sailing from U.S. homeports and offering a wide range of vacation options for travelers. Departing from New York City, Miami and Port Canaveral, these itineraries will call on popular destinations in the sun-soaked Caribbean, Florida, The Bahamas, and Bermuda, with most itineraries including stops at the cruise line’s picturesque private island – Ocean Cay MSC Marine Reserve.

Rubén A. Rodríguez, President, MSC Cruises USA, said: “We want our guests to experience MSC Cruises’ most modern and innovative ships, whether they’re on a quick weekend getaway or the vacation of a lifetime. The Summer 2025 season will be an exciting one for us. MSC World America will let our guests experience the future of cruising with 7-night itineraries from Miami, and we’re enhancing our short cruises from Miami with the fantastic MSC Seascape providing 3- and 4-night options. We’re especially thrilled that all four ships sailing from U.S. homeports will call at Ocean Cay, providing guests with the opportunity to experience MSC Cruises’ unique and beautiful private island in The Bahamas no matter where they embark.”

MSC Cruises will have two ships sailing from its next generation terminal at PortMiami – set to be the world’s largest – for the summer 2025 season. Miami’s newest megaship, the highly anticipated flagship MSC World America will be embarking on her inaugural season in April 2025. As the second in MSC Cruises’ trailblazing World Class, the ship will be MSC Cruises’ largest U.S.-based vessel and redefine the cruise experience for her guests. The LNG-powered MSC World America will offer 7-night sailings departing on Saturdays to both eastern and western Caribbean ports, including San Juan, Puerto Rico; Puerto Plata, Dominican Republic; Costa Maya and Cozumel, Mexico; Isla de Roatan, Honduras; and Ocean Cay.

MSC Seascape will also call the new PortMiami terminal home, offering a mix of 7-night itineraries in the eastern and western Caribbean along with new 3- and 4-night sailings to The Bahamas and Ocean Cay to meet the growing demand for mini-cruises. This marks the first time a Seaside EVO Class ship will offer short cruises from Miami. Select 3- and 4-night itineraries will stay overnight at Ocean Cay, giving guests more time to enjoy the cruise line’s private island with activities including a sunset champagne cruise, beachside stargazing and a lighthouse LED show.

MSC Meraviglia will offer guests 7-night itineraries from New York City to Florida and The Bahamas. Notable stops include Port Canaveral (Florida), Nassau and Ocean Cay (The Bahamas). Additionally, pink sand beaches and adventures await guests on 6- and 7-night itineraries to Bermuda. Guests will love spending several nights at the Royal Naval Dockyard with ample time to explore the island’s unique blend of cultures.

From Port Canaveral, MSC Seashore will sail a range of itinerary options, including short 3- and 4-night escapes to The Bahamas. Some of the ship’s 7-night itineraries start out with two days at Ocean Cay followed by stops in Cozumel and Costa Maya.

Ljoen to become Chief Maritime Officer of Carnival Corporation & plc, Burke to transition to new role

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Written by Teijo Niemelä Teijo Niemelä

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Published: 17 April 2024 17 April 2024

Carnival Corporation & plc, the world's largest cruise company, has announced that Vice Admiral William R. Burke (Ret.), Chief Maritime Officer for the company, has advised that he will be stepping down from the role effective February 1, 2025. At that time, Lars Ljoen (pictured above), currently Chief Operations Officer for the company's flagship Carnival Cruise Line brand, will be promoted to Chief Maritime Officer of Carnival Corporation & plc, overseeing all aspects of maritime operations for the corporation and its portfolio of world-class cruise lines and reporting to Carnival Corporation & plc's Chief Executive Officer Josh Weinstein. Ljoen will also be responsible for strategic destination development and will oversee management of the company's owned and operated ports.

A 25-year cruise industry veteran, Ljoen is a trusted leader with a distinguished tenure of achievement in senior-level sea command and shore management roles. As Chief Operations Officer for Carnival Cruise Line, Ljoen oversees all aspects of Carnival's marine operations, including nautical and technical operations, environmental compliance, and safety protocols. He also leads port operations, guest operations, food and beverage services, onboard revenue, entertainment, and crew and travel operations.

"Lars is the obvious choice for this vital role, given his deep knowledge of our industry, his pedigree of success in key senior-level positions in the company, and his ability to consistently deliver operational excellence and business results for our largest global cruise line," said Josh Weinstein, Carnival Corporation & plc's Chief Executive Officer. "Notably, his leadership during one of the most challenging times in our industry helped Carnival Cruise Line successfully navigate the operational pause and quickly reclaim its title as the world's largest and most popular cruise line – an important driver of our company comeback.

"As we remain laser focused on achieving our carbon and emissions reductions goals and maintaining our leadership in safety and environmental best practices, Lars will bring his tremendous knowledge to build upon the legacy that Bill has established during his tenure," he said.

Prior to Carnival Cruise Line, Ljoen served with Carnival Corporation's Costa Group since 2015, initially as senior vice president and then promoted to executive vice president and managing director in 2016. At Costa Group, which at the time included Costa Cruises and AIDA, Ljoen was responsible for Carnival Maritime, the marine service unit of the group, as well as fleet governance, marine projects, and continuous improvement.

Previously Ljoen headed business strategy development for Ceres Marine Terminals (NYK Ports) and was director of marine operations at Royal Caribbean Cruises Ltd. He began his career on supply vessels and shuttle tankers in the North Sea offshore industry.

"I'm honored to step into the Chief Maritime Officer role and eager to build on Bill's remarkable foundation of operational excellence and write the next important chapter," said Ljoen. "I look forward to applying my experience and skills to an even bigger platform to ensure the company's continued success."

Leveraging iconic leader's expertise in new ways

When Ljoen takes the helm as Chief Maritime Officer February 1, 2025, his predecessor, Burke, will transition into a new role as External Affairs Advisor for Carnival Corporation, leveraging his extensive expertise for key legislative, regulatory and policy matters at the global and federal levels.

Since joining Carnival Corporation in 2013 in the newly created position of Chief Maritime Officer, Burke has drawn on his extensive background and record in safety, engineering, strategic planning, and operational readiness to define and drive the company's commitment to health, environmental compliance, safety, security, and sustainability. Overseeing the company's maritime operations around the world, Burke has reshaped the company's maritime policy, maritime standards, shipbuilding, training including CSMART, medical, maritime asset strategy, and technical research and development.

Burke joined Carnival Corporation following a distinguished career with the U.S. Navy spanning submarine command, squadron leadership, task force command, strategic planning, and operational readiness positions. Burke served on five submarines including command of the USS Toledo (SSN 769), and he also commanded Submarine Squadron Two. His admiral assignments included tours as Commander Logistics Group Western Pacific/Navy Region Singapore/Task Force 73, Director Assessment Division, Director Quadrennial Defense Review, Deputy Chief of Naval Operations for Fleet Readiness and Logistics, and Deputy Chief of Naval Operations for Warfare Systems.

"I have worked alongside Bill for over a decade, and there is no one I admire more. A lifelong champion of progress, Bill has been at the forefront of revolutionizing cruise operations and our company's revitalized commitment to compliance, excellence in protecting the health, safety and security of our team members and guests, and safeguarding the environment," said Weinstein. "His leadership in safety, innovation, and sustainability has been instrumental in elevating both our company and the industry as a whole. While Bill will wrap up his formal involvement in our daily operations, we're thrilled he has agreed to stay with the company as External Affairs Advisor, where his advocacy, knowledge, relationships, and leadership will continue to have a global impact."