Fred Olsen Cruise Lines publish 2023/24 itineraries

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Written by Kari Reinikainen Kari Reinikainen

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Published: 06 May 2022 06 May 2022

Fred. Olsen Cruise Lines, the UK based destination focused operator, has published its full programme of cruising for 2023/24, with more than 100 hand-crafted sailings and the introduction of new Journey Navigators across its fleet of smaller ships.

The new programme includes opportunities to witness Norway’s famous Langfoss Waterfall in the spring, when the water is at its heaviest, explore the remote islands of the Azores, and visit Lapland in the summer months, the company said in a statement.

Durations range from two to 93-nights, with regional departures from Liverpool, Newcastle, Rosyth, Southampton, Dover, London Tilbury and Belfast. In addition, the programme features the return of a fly-cruise programme, with Braemar to be based in the Caribbean for the winter months.

The new brochure also unveils Fred. Olsen’s new Journey Navigators – Nature Scouts, Culture Curators, Maritime Guides and Entertainment Hosts – plus new signature experiences to celebrate the Joy of the Journey on each cruise.

Guests who book onto one of Fred. Olsen’s new 2023/24 sailings can enjoy up to £250 per person to spend on board, or up to £500 when booking a suite.Plus, those who book a 2023 cruise but are also looking to get away this year can take advantage of 10% off any new booking for 2022.

 Martin Lister, Head of Itinerary Planning and Destination Experience at Fred. Olsen Cruise Lines, said: “This has been such an exciting programme to curate. Our smaller ships allow us to offer so many special experiences for our guests, and we’ve been really creative with our itinerary planning to shine a spotlight on this. We will be cruising scenic waterways that are out of reach to larger ships, including the Kiel Canal and the Seine and Loire rivers. Other highlights include docking close to the heart of Seville, Antwerp and Havana. Braemar is also set to repeat her record-breaking feat of transiting the ultra-narrow Corinth Canal – an experience not to be missed."

“We also know that our guests want to have authentic experiences ashore, and so we are developing a programme to support this. In Madeira, for example, rather than simply visit the world-famous gardens, guests can meet with a local orchid expert for a tour of the gardens, including a family-run orchid farm."

 “And it’s not just about the experiences ashore. Guests will find our new Journey Navigators on-board each of our ships to really bring to life the Joy of the Journey and all that is great about being at sea, from holding stargazing events out on deck, to tours of the Bridge to celebrate our maritime history,” he said.

Fincantieri takes action in face of rising energy and steel prices

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Written by Kari Reinikainen Kari Reinikainen

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Published: 06 May 2022 06 May 2022

Fincantieri, the Italian shipbuilding company that is the biggest cruise ship builder in the world, said that it is taking action in face of rising steel an d energy prices, but noted that production is expected to remain in full swing.

The company said that first months of 2022 had been characterised by the impacts of the conflict between Russia and Ukraine, in particular on the European market, leading to a reduction in the commercial trades with Russia as a result of sanctions, an increase in energy and natural gas prices as well as other commodities whose supply chains are affected by the conflict, including steel.

“In this context, the Group implemented specific mitigation plans in order to ensure the availability of those commodities considered strategic for production activities. Excluding unpredictable side effects related to the ongoing conflict as well as the pandemic, Fincantieri expects to maintain production activities at full swing with a growth in revenues higher than pre-pandemic levels along with the consolidation of margins,” the company said in a statement. 

Net financial position for 2022 is expected to be in line with the 2020 figures, the company added.

People book closer to sailing, Ukraine war hits Baltic itineraries - Royal Caribbean Group

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Written by Kari Reinikainen Kari Reinikainen

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Published: 05 May 2022 05 May 2022

People are booking their cruises closer to sailing dates, while the war in Ukraine is affecting itineraries in Europe, with the Baltic suffering most, Royal Caribbean Group said.

Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. They have now been surpassing comparable 2019 levels for the last two months with particularly strong trends for North America based itineraries.  

In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. While load factors for sailings in the second half of 2022 are currently slightly below historical levels, consumers are booking their cruises closer to sailing and the Group is capitalising on that healthy close-in demand to improve load factors.  For the full year and the second half of 2022, pricing remains higher than in 2019 both including and excluding future cruise credits (FCCs).

“Bookings for Europe sailings improved throughout the first quarter but softened due to the war in Ukraine with a bigger impact on Baltic itineraries.  While bookings for Europe are now exceeding 2019 levels for the same period, the situation in Ukraine is expected to weigh on load factors in Europe this summer,” the company said. 

Many cruise lines have stopped calling at St Petersburg in Russia in the aftermath of Russia’s attack on Ukraine.

"The performance of our core business continues to strengthen, fueled by strong demand and excellent operational execution," said Naftali Holtz, chief financial officer at Royal Caribbean Group. "Our near-term focus is to return to full operations and profitability as we execute on our recovery and build for long term success."

As of March 31, 2022, the company's customer deposit balance was $3.6 billion. This represents an improvement of about $400 million over the previous quarter despite the significant quarter-over-quarter increase in revenue recognition and near-term cancellations due to the Omicron variant, both of which reduced the customer deposit balance. 

The customer deposit balance at the end of the first quarter of 2022 was similar to the March 31, 2019 balance for the three brands. Approximately 27% of the customer deposit balance is related to FCCs compared to 32% in the prior quarter, a positive trend indicating new demand. To date, approximately 56% of FCCs have been redeemed.

Royal Caribbean Group sees all ships in service by summer season start

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Written by Kari Reinikainen Kari Reinikainen

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Published: 05 May 2022 05 May 2022

Royal Caribbean Group said it expects its entire fleet of 63 ships will be operational by the beginning of the 2022 summer season.

“The Group's fleet size expanded to 63 with the delivery of Wonder of the Seas and Celebrity Beyond in the first quarter and early second quarter, respectively. These ships, along with six other new ships which have joined the fleet over the last 20 months and represent over 10% of total capacity, are significantly contributing to yield growth and profitability,” the company said in a statement. 

The Group is now offering cruises in almost all of its destinations. Australia, one of the last remaining countries to re-open, announced the resumption of cruising effective April 2022. The Group expects to return to Australia for the local summer season in the fourth quarter of 2022. China remains closed to cruising due to the ongoing lockdowns. While the Group remains optimistic to capture long-term growth opportunities in that market, ships planned for China have been temporarily redeployed to other markets.

The Group expects to operate approximately 10.3 million Available Passenger Cruise Days (APCD) for the second quarter with load factors of 75% to 80%.  The Group also expects cash flow from ships in operation to be positive in the second quarter. Operating cash flow significantly improved throughout the first quarter and is turning positive in April.