Lindblad net profit soars to $10.9 million in first quarter

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Written by Kari Reinikainen Kari Reinikainen

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Published: 04 May 2018 04 May 2018

Strong demand and a larger fleet helped Lindblad Expeditions Holdings, Inc., the US based and listed expedition cruise operator, to significantly increase its first quarter profit, while the outlook remains encouraging.

The company reported a sharp increase in the first quarter net profit, to $10.9 million compared to a mere $0.6 million in the same period last year. Operating profit (EBIT) rose to $14.4 million from $1.4 million and revenues to $82.4 million from $63.1 million.

The company forecasts full year revenues in the bracket of $308 million to $315 million, a year on increase of 16% to 18%, while adjusted EBITDA should grow even faster, between 24% and 31% to the region of $54 million to $57 million.

Sven-Olof Lindblad, President and Chief Executive Officer, said "The strong financial results delivered by Lindblad during the first quarter are a continuation of the momentum we generated during the back half of 2017 and highlights the opportunity in front of us as we continue to add vessels to our fleet.”

“ The addition of the National Geographic Quest in July of 2017 expanded our capacity by approximately 15% and as we have increased inventory we have grown our net yields and maintained high occupancy levels. This highlights the demand from both our loyal customer base and a growing audience seeking authentic expedition travel,” he said in a statement. 

“Bookings during 2018 remain very strong, up 20% versus the same period a year ago, and we are seeing broad based demand for travel on our existing fleet, as well as for the additional two ships we will be adding over the next couple of years. The National Geographic Venture and the recently named National Geographic Endurance will further increase our capacity in high demand geographies and will provide the opportunity to build additional shareholder value in the years ahead,” Lindblad concluded.

Fred. Olsen Cruise Lines cut first quarter loss on higher per diems

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Written by Kari Reinikainen Kari Reinikainen

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Published: 04 May 2018 04 May 2018

Higher per diems more than offset a slight fall in the number of passenger days at Fred.Olsen Cruise Line, the UK based destinational cruise shipping company, in the first quarter.

Net loss narrowed to NOK41 million in the latest quarter from NOK55 million year on, while operating loss (EBIT) was reduced to NOK22 million from NOK39 million. Revenues rose to NOK533 million from NOK480 million. The number of passenger days totaled 254,710 for the quarter (271,634), a decline of 6 %. Net ticket income per diem (GBP) was 6.5% higher compared to the corresponding quarter last year,” parent company Bonheur ASA said in a statement.

Capital expenditure rose to NOK108 million from a mere NOK8 million in the same period last year, while equity decreased to NOK1.07 billion from NOK1.11 billion. The company has no gross interest bearing debt.

Brand-new American Constitution sails Chesapeake Bay for inaugural American Revolution Cruise

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Written by Teijo Niemelä Teijo Niemelä

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Published: 01 May 2018 01 May 2018

American Cruise Lines' brand new cruise ship, American Constitution, just completed its inaugural sailing on Chesapeake Bay. The cruise departed from Baltimore on April 18th and passengers were thrilled with both the gorgeous new 175-passenger ship and the fantastic new 10-night American Revolution itinerary. “American Constitution has been exceptionally well received and all the spring 2018 American Revolution cruises are already sold out,” a company official said.

During the inaugural sailing last week, American Constitution made additional news as it docked inside the District of Columbia at The Wharf. This was the first time a cruise ship has called on D.C.’s Southwest waterfront in over 60 years. With the Cherry Blossoms in full bloom, guests aboard enjoyed spectacular scenic views, guided shore tours, and world class onboard entertainment. Itinerary highlights included visits to the cities of the “Historic Triangle,” Williamsburg, Yorktown and Jamestown; and tours of Washington, D.C.

The inaugural cruise was further highlighted by distinguished onboard expert, Dr. Harold Cones, emeritus Professor of Biology, Christopher Newport University. A broadly trained naturalist, historian and writer, Dr. Cones gave wonderful talks about the less commonly known aspects of American history and the historical sites throughout the storied region. As well, guests dined on the finest cuisine and were treated to the freshest Maryland Blue Crabs, as the new ship sailed through the Blue Crab Capitol of the World.

American Constitution is the newest ship in American Cruise Lines’ expanding fleet of 10 coastal and river ships. When the spring American Revolution itineraries conclude late May, the new ship will head north to do the Line’s popular Grand New England Lobsterbake cruises over the summer and Hudson River Fall Foliage cruises in the fall. American Constitution will return to Chesapeake Bay in late October, 2018 for a few more 10-night American Revolution cruises including one very special Colonial Holiday cruise departing December 23, 2018.

AIDA Cruises, partners to develop sustainable operations in Kiel

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Written by Kari Reinikainen Kari Reinikainen

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Published: 26 April 2018 26 April 2018

The Federal State of Schleswig-Holstein, the Federal State capital Kiel, the Seaport of Kiel and AIDA Cruises’ parent cpmpany Costa Group that is part of the Carnival Corporation & plc group came together on 26 April aboard the cruise ship "AIDAluna" to set out the ways in which they will be stepping up their existing collaboration. Their objective is to further develop the maritime infrastructure, the economy, and tourism in northern Germany sustainably and to make them future-proof.

Minister-President Daniel Günther: "With this Declaration of Intent we have taken a big step towards making cruise tourism in the north both more future-proof and environmentally-friendlier." The Federal State intends to financially support the planned construction of the shoreside power plant on the Ostseekai and will be examining grant options. "We will also continue to advocate at federal level for the prorated exemption of shoreside power plants from the levy imposed under the German Renewable Energies Act," the head of the Federal State government said.

Michael Thamm, CEO of Costa Group & Carnival Asia: "Sustainability, regional value creation and innovation are integral to our activities. We are very pleased that we are able to support the Federal State of Schleswig-Holstein and the City of Kiel in making cruise tourism forward-looking and sustainable. I am firmly convinced that this kind of partnership will have a beacon effect for other ports in Germany and in Europe." In 2019 "AIDAprima" will be the first ship to call at the port of Kiel that can be supplied with liquefied natural gas (LNG) while in docked in port in the Baltic region. Furthermore, AIDA Cruises will be fitting out two other cruise ships - "AIDAbella" and "AIDAluna" with shoreside power connections. The aim is that trial operations will begin in Kiel already in 2019. In addition, AIDA Cruises intends that, apart from ships that can be supplied with low-emission LNG or shoreside power while docked in port, it will also deploy cruise ships in the Seaport of Kiel that are fitted with modern exhaust gas cleaning systems.

Federal State Minister of Economic Affairs, Dr. Bernd Buchholz: "This is an important step for the widespread acceptance of cruise tourism in Kiel, but also for the cruise company itself because the ships’ carbon footprints will increasingly affect guests’ booking behavior. AIDA is once again a technological pioneer in this area because the fleet’s new-builds are already fitted with LNG-powered generators."

Federal State Secretary of the Environment, Tobias Goldschmidt: "We want to reduce air pollution in ports and their immediate environs by means of various measures. There are already alternatives to conventional on-board power generation with marine diesel, but they are not used on cost grounds. Support measures are required to change that. Apart from the previously mentioned financial support for the provision of the necessary infrastructure in the ports and the prorated exemption of shoreside power from the levy imposed under the German Renewable Energies Act, these measures most notably also include a port charges structure that favors low-emission alternatives. We have furthermore already called on the Federal Government to liaise with the EU Commission on uniform environmental standards - such as maximum values for sulfur content in ship fuels (SECA standards) - in the territorial waters of the Member States. In addition, the foreseen designation of the Baltic, North Sea and English Channel as a NOx (nitrogen oxides) Emission Control Area (NECA) should be expanded to all EU waters."

Dr. Dirk Claus, Managing Director of Seehafen Kiel: "Shoreside power in the cruise industry is a challenge. However, with AIDA Cruises we have found a viable basis for tackling this issue that complements the powering of ships with LNG. We want to set new standards together." The shoreside power connection on the Ostseekai will have a connected load of 12 MW and will be able to supply ships whose on-board power supply has a frequency of 50 Hz and 60 Hz. Kiel’s Mayor Ulf Kämpfer is particularly pleased about the commitment that the Costa Group and AIDA Cruises are making: "Ship exhaust is often also mentioned in the debate on air pollutants from diesel vehicles on Kiel’s roads. For cruise ships to be accepted in Kiel it is important that other cruise companies also devote themselves more to the issues of the environment and sustainability. First liquefied natural gas and soon shoreside power on the Ostseekai for AIDA ships - that is exactly the signal we want to send out for the future of the port of Kiel. And it also fits perfectly with the seaport of Kiel’s Blue Port concept that has just been drawn up." Mayor Kämpfer also thanks the Costa Group and AIDA Cruises for their support of the "Kieler Woche" which has also just been agreed. The new event sponsor, AIDA Cruises, will be getting involved in a number of ways including presenting the closing fireworks at the "Kieler Woche".

A study of the seaport of Kiel with AIDA Cruises as the industry partner will be investigating the direct and indirect effects of the cruise industry. The study is intended to help identify potential and activities for greater local and regional value creation by cruise tourism and maritime service providers.