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North Atlantic Cruise Symposium in Iceland now open for registration

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 08 April 2013 08 April 2013

On May 9-10, 2013, the Cruise Islands of the North Atlantic partners will be hosting a cruise symposium in Reykjavik, Iceland.

The conference program focuses on the challenges and opportunities for the cruise industry in the North, present and in the future. The venue will be in the new Conference and Music Hall "HARPA". The organizing partners include Newfoundland & Labrador; Greenland; Reykjavik, Iceland; Torshavn, The Faroes; Orkney Islands and Western Norway.

Among the confirmed speakers are Emilio R. Freeman of Azamara Club Cruises, Hans Rood, Hurtigruten, Peter Wild, G P Wild (International) Ltd, Robert Ashdown, CLIA Europe, Timothy Littley, Seabourn Cruise Line, Marc Miller, Royal Caribbean Cruises and Ulf Sonntag of the Institute of Tourism Research in Northern Europe. This event is supported by NORA - The Nordic Council of Ministers and NATA - North Atlantic Tourist Association.

The conference ends lunchtime on Friday May 10 and participants from North America or Europe can either travel home that evening, or if their schedule allows a couple of extra days they are more than welcome to participate in a visit to the Blue Lagoon on Friday afternoon.

SAS opens the Copenhagen-San Francisco service

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 08 April 2013 08 April 2013

North America is an important and growing market for SAS, which already flies to New York, Chicago and Washington. Scandinavia is a market that has no direct flights to the US West Coast and there has therefore been demand from several Nordic and international companies for a smooth connection to this part of the world. SAS is now fulfilling that wish.

"SAS has been flying to the USA for over 60 years and we have a good understanding of what customers need when they fly long-haul. We are pleased to offer a direct service from Copenhagen and a travel experience where customers can enjoy all of our services which are designed to make the journey easier and more convenient," says Rickard Gustafson, President and CEO of SAS.

"San Francisco is an attractive destination in itself, but the city is also the ideal starting point for the US West Coast. From San Francisco, customers have access to many other destinations in the Star Alliance network," says Rickard Gustafson.

By scheduling the flight departure time from Copenhagen at 12.25 in the afternoon, SAS has created excellent opportunities for good connections from Stockholm, Oslo and many other destinations in Scandinavia and northern Europe.

Facts about SAS and San Francisco

- This is the first time that SAS has flown to San Francisco.
- The route will be operated using an Airbus 340-300, the largest aircraft in the SAS fleet, which has 245 seats, divided into three service classes
- SAS flies six times a week from Copenhagen to San Francisco: every day of the week except Tuesday.
- SAS is the only airline to fly directly between Copenhagen and San Francisco and is forecasting around 125,000 passengers per year on the route. Of these, 55% will come from the Nordic countries and 10% from the rest of Europe. The remaining 35% will come from the USA.

SuperStar Gemini embarks on Shanghai inaugural sailing

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 08 April 2013 08 April 2013

SuperStar Gemini officially commenced her Shanghai homeport deployment yesterday with the first batch of about 1,000 passengers from China and other regional countries, departing from Shanghai at 1pm and calling at Jeju, Korea.

Deputy Director of the Shanghai Municipal Transport and Port Authority Lin Zhang, Hongkou District People's Government of Shanghai Party Deputy Governor Xiping Zhang and Shanghai International Port(Group) Vice President Jiali Zhang attended a sailing off ceremony.

At the ceremony, Mr. Michael Goh, Senior Vice President, Sales of Star Cruises expressed gratitude to all parties in Shanghai for supporting SuperStar Geminis homeport operations. He remarked, "The Shanghai homeport deployment is Star Cruises most significant strategy in China this year. We have high hopes for our Shanghai endeavour. As the leading cruise line in Asia-Pacific, Star Cruises has the competitive advantage of having a better understanding of what Asian and Chinese travelers like in their holidays. SuperStar Gemini was refurbished with the preferences of Chinese tourists in mind. In addition to the revamped dining and recreational facilities, we forged a partnership with China Duty Free Group to launch an upscale duty-free shopping boulevard onboard that offers designer brands and luxury goods. This ensures passengers a one-stop cruise holiday that encompasses all elements of a memorable holiday.

From April to October 2013, SuperStar Gemini will be homeported in Shanghai and offer over 40 cruises in 4D3N to 7D6N itineraries. The travel market overwhelmingly received SuperStar Geminis cruises and over half of the cruises have been sold shortly after launch. SuperStar Gemini will visit popular tourist ports, including Busan, Jeju and Yeosu and offer special cruises to Taiwan. SuperStar passengers also have a vast selection of unique shore excursions to explore various local tourist attractions.

To celebrate SuperStar Gemini's inaugural sailing from Shanghai, Genting Hong Kong and the Chinese Athletes Educational Foundation have joined forces to organize a charity golf tournament with four legs in China this year that will raise funds for education for athletes and children.

SuperStar Gemini's homeport deployment in Shanghai signifies another important phase of growth for Shanghai Port International Cruise Terminal. It also strengthens Shanghai's competitiveness as a cruise hub in Northeast Asia and accentuates its tourism appeal to the world.

In memoriam – Robert Tillberg

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 07 April 2013 07 April 2013

Robert Tillberg, the Swedish interior designer whose work in cruise and ferry shipping started in the 1960s, has passed away.

“We are saddened to report that Tillberg Design's founder Robert Tillberg has peacefully passed away. Robert will be remembered as a great pioneer and creator, motivator and mentor - both within our company and by his collaborators and clients,” Tillberg Design said in a statement.

“He had unique skills, and huge knowledge of the marine cruise market. We, who worked with Robert, feel both proud and thankful to keep his name alive.”

Shares in Carnival trade a “compelling EV / Berth” – UBS

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 06 April 2013 06 April 2013

Shares in Carnival Corp, the US based and listed holding company and its UK based, London listed counterpart Carnival plc trade at an “compelling enterprise value (EV) per berth ratio, according to Robin Farley, cruise industry analyst at UBS in New York.

“We believe EV/Berth allows investors to compare long-term value across periods of different earnings power, particularly helpful when the next 12 months may not be the best period to value the stock for the long term,” she said in a research note dated 4 April.

Carnival shares only trade 11% above their all time quarterly low set in 1Q09 in EV/Berth terms, while the correspmding figure for Royal Caribbean Cruises Ltd (RCL) is 46% above all-time quarterly average low, also set in 1Q09.

“CCL’s (Carnival group’s) EV/Berth is currently at an 8% premium to RCL, well below its historical premium of 26% over the past 5 years and 38% over the last 10 years,” she said.

Shares in both companies are trading below Trailing 10 Year EV/Berth Averages, with CCL EV/Berth is trading at 12% below its five-year quarterly and 34% below its 10-year average. “RCL EV/Berth is now 2% above its five-year quarterly average and 15% below its 10-year quarterly average,” Farley stated.

Carnival’s five-year average quarterly EV/berth would imply a stock price of about $40 for Carnival Corporation stock and £25 for that of Carnival plc.

RCL’s five-year quarterly average EV/berth would imply a stock price of about $31,” she said. Farley recommends that investors buy shares in Carnival, while RCL receives a neutral notion.