TUI shares continue downward drift despite recent good news
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- Written by Kari Reinikainen Kari Reinikainen
- Category: More News More News
- Published: 27 April 2023 27 April 2023

Shares in TUI AG, the German tour operating company that has its main listing in London, have continued their downward drift despite some good news recently.
Shares in the company that has interests in 16 cruise liners that operate under the Mein Schiff, Hapag-Lloyd Kreuzfahrten and Marella Cruises brands, traded at £5.10 at mid-morning on 27 April. They had hit an all time high of £20.30 in May 2018.
However, the fall in the price has effectively been much deeper, because on 23 February, TUI completed a consolidation of its shares whereby 10 old shares were exchanged for one new share. Taking this into account, shares in the company would only be worth £0.51 today. In other words, on like-for-like basis, they have dropped by 97.5% in the past five years.
After completing a rights issue and with the shares going ex-rights on 28 March, the Anglo-German group reported strong demand for bookings across all markets, proactiveinvestor. co.uk reported in mid-April.
“Citi analyst Leo Carrington updated the bank's forecast model for the company to reflect terms of the rights issue, upgrading to a 'neutral (high risk)' rating from the previous 'sell (high risk)' stance,” the report said.
"With the stock having abruptly de-rated 22% since trading ex-rights we see valuation upside," the analyst was cited as writing.
He gave TUI a neutral rather than a buy rating amid a context of summer 2023 booking volumes still being down 11% compared to pre-pandemic 2019 as of 5 February, though the latest statement is suggesting some upside to these levels, the report said
“Perhaps the biggest problem facing TUI is the €3.4bn net debt burden the business is grappling with (excluding lease liabilities). In order to survive the pandemic when international travel came to a sudden halt, the company borrowed heavily. The Hanover-based firm received aid from the German government as well as other creditors,” a report on the investor website fool.co.uk said in April.
The recent €1.8 billion discounted rights issue should bring net interest payments under control, reducing them by approximately €80m to €90m.
“However, net debt remains a huge concern — and it’s enough to put me off investing at present. Granted, there’s certainly a route to a brighter future for the company and I’ll keep TUI shares on my watchlist. But, I’m not convinced the risk/reward profile of the stock is attractive, especially considering there could be further dilution of shareholder interests,” the report concluded.
Princess Cruises adds British-inspired beverage options to UK based ships
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 27 April 2023 27 April 2023

Princess Cruises said it would be adding a host of ales, wines and other British-favourite beverages such as Pimm’s as part of an enhanced drinks selection on its Southampton-based ships, Sky Princess and Regal Princess.
Available on sailings departing Southampton from April to October 2023, guests onboard the Royal Class ships can take advantage of a range of newly-introduced drinks, with Pimm’s on offer during select sailaway parties, Ketel One espresso martinis on tap, and a new cocktail menu with flavours including rhubarb and custard, Bakewell tart and Liquorice Allsorts.
An extended range of beers, based on British-favourites, will include San Miguel and London Pride, as well as new handpicked, locally-sourced British wines. Princess will also introduce a range of ready-to-drink offerings at grab-and-go stations in locations such as the top deck and the Princess Theatre.
Rich Woods, an award-winning mixologist, has overseen the new drinks menu, and will be a special guest onboard Sky Princess, creating unique cocktails for passengers, and hosting expert cocktail-making classes.
Eithne Williamson, vice president of Princess Cruises for UK and Europe, said: “Following recent consumer research that looked at our UK guests’ favourite beverages, we are pleased to offer an extended choice of drinks that are tailored to British tastes to Sky and Regal this year. In addition, the expertise of Rich Woods, our award-winning mixologist, has allowed us to offer fantastic, one-off cocktails alongside some well-known classics. We can’t wait to welcome guests onboard to enjoy a relaxing drink or two while unwinding on their holiday-at-sea.”
Image: Take Five bar on Sky Princess
Queen Mary 2 to sail on five night coronation cruise
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 27 April 2023 27 April 2023

Cunard has announced that Queen Mary 2 will operate a five night coronation cruise that will depart from Southampton on 2 May after the company had been forced to cancel a roundtrip Trans-Atlantic voyage due to technical problems on the ship.
The ship will call at Liverpool, where Cunard was founded in 1840. This will be the only port of call on the cruise that will terminate at Southampton.
Among the events onboard will be a special dinner on 6 May, the day of the Coronation of King Charles III and Queen Camilla. The coronation itself will be broadcast onboard live from London, the company said.
Fincantieri's Ancona shipyard delivers Viking Saturn
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- Written by Teijo Niemelä Teijo Niemelä
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- Published: 26 April 2023 26 April 2023

Viking Saturn, the newest ocean cruise ship which Fincantieri is building for the shipowner Viking, has been delivered today at the shipyard in Ancona.
The unit will be placed in the small cruise ship segment. As its sister ships, it is about 47,800 gross tons, 465 cabins with accommodation for 930 passengers.
Viking Saturn, tenth of this class, has been designed by experienced naval architects and engineers, including an interior design team of Los Angeles-based Rottet Studios and London-based SMC Design, who gave the ship a modern design of Scandinavian inspiration, characterized by sophisticated yet functional elegance. In addition to the all-veranda staterooms, the ship also has spacious suites with sweeping views, two pools, of which one infinity pool off the stern, abundant options for al fresco dining, and a spa designed according to the wellness philosophy of the Scandinavian tradition, with a sauna and a snow grotto.
The Viking units are all built according to the latest navigation regulations, are equipped with the most modern safety systems, including the “safe return to port”, and are certified from Lloyd’s Register from the very first ship delivered in 2015. The ships also feature energy-efficient engines, optimized hydrodynamics and hull thereby reducing consumption, as well as systems which minimize pollution produced by exhaust gases, meeting the strictest environmental regulations.
Posidonia Sea Tourism Forum brings cruise industry leaders together for first cruise event ever in Thessaloniki
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- Written by Teijo Niemelä Teijo Niemelä
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- Published: 25 April 2023 25 April 2023
Over 400 delegates from the global cruise industry gathered at Thessaloniki's iconic Makedonia Palace hotel for the 7th Posidonia Sea Tourism Forum, which is being held at Greece’s second biggest city for the first time since its inception.
On the first day, attendees expressed optimism and hope for the cruise industry's future growth, with opening remarks delivered by Apostolos Tzitzikostas, Governor of the Region of Central Macedonia, Konstantinos Zervas, Mayor of Thessaloniki Municipality and Athanasios Liagkos, Executive Chairman of the BoD & Managing Director of ThPA SA - Port of Thessaloniki.
The opening day was keynoted by Pierfrancesco Vago, Executive Chairman, MSC Cruises & Global Chair, Cruise Lines International Association (CLIA). Vago spoke about the importance of sustainability and how the cruise industry is taking steps to reduce its environmental impact. Vago emphasized that “the cruise industry has made huge technological leaps in less than 15 years as we strive to reach our decarbonisation objectives by 2050. For example, MSC Cruises is bringing later this year vessels that are 55% more efficient in terms of CO2 per nautical mile than earlier vessel classes built in 2009.”
In his capacity as Global Chair of CLIA, Vago spoke about the association's efforts to promote the cruise industry's growth and development worldwide. He emphasized the importance of collaboration between cruise lines, governments and other stakeholders in ensuring the industry's continued success.
"The cruise industry is a vital part of the global tourism industry, and it has the potential to make a significant contribution to local economies worldwide," he said. "We are committed to working with all stakeholders to ensure that the industry continues to grow and thrive in the years ahead."
Apostolos Tzitzikostas extended an invitation to the cruise industry to invest in Thessaloniki. He said: “With its stunning natural beauty and rich cultural heritage, Thessaloniki has the potential to become a major destination for cruise travellers. Thessaloniki offers a unique blend of historical and modern attractions, including museums, galleries, and a vibrant food scene. By investing in Thessaloniki, the international cruise industry could help to create new jobs and stimulate economic growth, while also providing travellers with an unforgettable experience in one of Europe's most beautiful and fascinating cities.
During the Forum’s first panel discussion titled “The Return to Growth: Challenges ahead for Cruise Lines and Destinations,” Yu Zenggang, Chairman of Piraeus Port Authority SA, said that the Piraeus port resumed its cruise operations in May 2021, faster than other Mediterranean ports and experienced a significant uptake in the cruise sector in 2021.
In 2019, Piraeus port broke the 1 million mark in terms of cruise passengers. Nevertheless, the port not only achieved fast and full recovery but exceeded pre-pandemic levels. The port successfully served a significant number of cruise ships, contributing to the recovery of the Greek tourist industry. Overall, 2022 was a record-breaking year for Piraeus Port Authority, with both revenue and profitability at their highest-ever levels. The port’s cruise segment showed a significant increase in both port calls and passenger traffic. In 2022, passenger traffic increased by 190 percent to 880,416 compared to 303,665 in 2021. Cruise ship berthing also rose by 79 percent to 677 berths compared to 379 a year earlier, exceeding pre-Covid 2019 levels.
Yu said that a new cruise terminal is on the way, which, at its final phase, may accommodate the largest cruise ships in the world. It is expected to finish in a 2-three-year period, following the licensing procedure by the involved ministries and always in good and close cooperation with the Greek government.
Figen Ayan, President, MedCruise, Marie-Caroline Laurent, Director General, Cruise Lines International Association (CLIA) Europe, Wybcke Meier, CEO, TUI Cruises GmbH and Chris Theophilides, CEO, Celestyal also shared their thoughts and optimistic messages for the growth of the cruise industry globally and in the Eastern Mediterranean more specifically.
Meier said: “This summer we will be even stronger than before, the demand is there especially for the Eastern Mediterranean and Greece in particular which is very popular for German tourists. We see very strong bookings for the years to come as we expand our fleet. We will have more opportunities to deploy ships in this region and from next year we will have homeporting in Heraklion. When we work together in a more coordinated way with the destinations making sure that we provide a great experience to the local population and to our guests in issues such as berthing policy and a little bit more transparency can help us all as we can more effectively steer the guest flows we have. The number of Germans who take cruise holidays is very small and the potential for growth is huge, which means that Greece as a favourite destination for German people stands to gain the most in the future.”
Theophilides said: “It’s very important that the event takes place in Thessaloniki which for Celestyal Cruises is a very important destination, as we have a vessel here every Sunday. An even bigger vessel, Celestyal Journey will commence cruises from Thessaloniki in September. We believe that the number of passengers in 2023 will reach the levels of 2019 and we remain highly optimistic for strong growth well into the future.”
During the opening day of the event, the Hellenic Ports Association (ELIME) signed an MoU with the Union of Cruise Ship Owners & Associated Members (EEKFN) in order to coordinate actions and bilateral plans designed to ensure that the development of the cruise industry in the Eastern Mediterranean region is done according to the international standards of service. Liagkos, in his capacity as Chairman of Hellenic Ports Association (ELIME), said: “One of the first actions we will take as a result of this agreement is to implement a series of initiatives to facilitate vessels berthing allocation and to solve problems such as visas, Covid tests, immigration across the association’s 13 member ports etc. In the framework of this MoU, we will coordinate the activities of our members to develop port policy, the participation of ports in regional development, and the creation of robust and competitive port service companies.”
The event continues tomorrow with a number of panel discussions, seminars and presentations.
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