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Global Ports Holding says strong recovery of cruising continues despite challenging economic outlook

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 13 December 2022 13 December 2022

Global Ports Holding GPH), the Istanbul based and London listed company that is the world’s largest cruise port operator, said the cruise industry continues a rapid recovery from the Covid-19 pandemic, despite a generally challenging economic outlook.

The company said that while the cruise lines recovery plans mean some itineraries remain different from pre-Covid patterns, the vast majority of the global cruise fleet is now sailing, with only industry occupancy rates left to recover to pre-Covid levels.

It noted that despite a material weakening in the global economic outlook in recent months, booking volumes across the industry remain comfortably within historical ranges and the outlook for the cruise industry in calendar year 2023 and beyond remains positive. “Typically, the longer lead time on bookings has provided significant protection to the cruise industry during periods of macro stress, with passenger volumes rarely negatively impacted, GPH said in a statement.

“Currently, occupancy rates in the Caribbean cruise market are generally at or close to 100%, with occupancy levels in the European cruise market lagging behind those experienced in the Caribbean. The major cruise lines currently expect occupancy rates in the European cruise market to return to pre-pandemic levels by summer 2023,” the company said.

“At GPH's ports year-to-date, we have experienced higher than expected passenger volumes, driven by a faster recovery in occupancy rates across our port network. As a result, we now expect to report for the financial year ended 31 March 2023 passenger volumes of over 8m (including Las Palmas) and Adjusted EBITDA in excess of $60.0m, ahead of current market expectations,” GPH said.

Mehmet Kutman, Chairman and Chief Executive Officer, said: “The strong performance is testament to the strength of our business model and the successful delivery of our strategic goals. Year-to-date, we have experienced higher than expected passenger volumes, driven by a faster recovery in occupancy rates across our port network. As a result, we now expect to report Adjusted EBITDA for the financial year ended 31 March 2023 in excess of USD 60.0m, ahead of current market expectations.”

Swan Hellenic acquires SH Diana from Helsinki Shipyard

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 12 December 2022 12 December 2022

Helsinki Shipyard, having received bids for the auction of NB 518, today announced that Swan Hellenic has been awarded the tender.

Helsinki Shipyard exercised the right to sell the ship by tender, provided for by the shipbuilding contract, after the original buyer failed to take delivery of the ship. The auction ended at midnight on Friday the 9th of December and was satisfactory for Helsinki Shipyard, which analysed the bids and declared Swan Hellenic the winner.

The shipyard and Swan Hellenic will now enter into a new agreement for the completion of the vessel, which is scheduled to be delivered to Swan Hellenic in March 2023, in time to start cultural expedition cruises of the Mediterranean from the beginning of April as planned.

Andrea Zito, CEO of Swan Hellenic Limited, said: "We are happy to have secured SH Diana, a Polar Class PC6 vessel with state-of-the-art ship technology and sustainability that will enter service as planned in April. We look forward to welcoming our guests aboard SH Diana to experience our cultural expedition cruises in the historic regions for which they were first conceived.

Kim Salmi, Helsinki Shipyard’s CEO says: “The shipyard is satisfied with multiple inquiries and received bids. We are also happy to announce Swan Hellenic as winner of the tender, as it naturally helps next step, the fast agreement and continuation of works for completion of the vessel according to the plan in March."

MSC Euribia to Southampton in October 2023

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 12 December 2022 12 December 2022

MSC Euribia will replace MSC Virtuosa in Southampton in the UK in October 2023, Antonio Paradisio, UK managing director of MSC Cruises told CruiseBusiness.com

“We have increased the number of itineraries and once more we will base a newbuild ship in Southampton. MSC Euribia, our second liquefied natural gas-powered ship that is under construction at the Chantiers de l’Atlantique yard in Saint-Nazaire, France will from October 2023 homeport for the winter season in the UK,” he said.

MSC Euribia and MSC Virtuosa, which entered service this year, are both Meraviglia Plus class vessels and they both have a gross tonnage of about 185,000.

“The British are passionate cruisers especially now that they can enjoy the freedom of travel again post pandemic. And next year, 2023, promises to be a record year for us in the UK,” Paradiso said.

Photo: MSC Virtuosa in currently serving MSC Cruises in Southampton in the UK.

Fincantieri delivers Resilient Lady

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 10 December 2022 10 December 2022

The delivery of Resilient Lady, the third of four ships which Virgin Voyages (new cruise operator and a brand part of Sir Richard Branson’s Virgin Group) ordered to Fincantieri, took place at the Sestri Ponente (Genoa) shipyard. The ship was moored in the port of Palermo since July.

Resilient Lady, as well as her sisterships Scarlet Lady, Valiant Lady and Brilliant Lady, which was floated out just two weeks ago, measures about 110,000 gross tons, are 278 meters long and 38 wide. They all feature over 1,400 guest cabins designed to host more than 2,770 passengers, accompanied by 1,160 crew members on board to deliver the famed Virgin service. The quality of life on board is guaranteed by the “comfort class” certification, testifying minimum levels of noise and vibration, as well as by an extensive use of home automation. Thanks to this, by installing an app on their smartphones, guests are able to manage a wide range of cabin functions (air conditioning, lightening, opening and closing of blinds, music, and television).

This class of ships stands out for the design, as well as for the particular attention paid to energy recovery, featuring cutting-edge alternative technologies that reduce the ship’s overall environmental impact. For example, the ships are equipped with an energy production system of approximately 1 MW, which uses the diesel engine’s waste heat. In addition to a scrubber system, that is a device for the sustainable waste management of sulfur dioxides, the units are also fitted with a catalytic converter which reduces emissions of nitrogen oxides. They are entirely equipped with led lights to reduce energy consumption, while the hydrodynamic design of the hull provides excellent performance with consequent fuel saving.

Icon of the Seas floated out at Meyer Turku

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 09 December 2022 09 December 2022

Icon of the Seas, which is being built at the Meyer Turku shipyard, has been launched on Friday, December 9, 2022. During the weekend, the ship will be moved to the outfitting dock, where its now fully assembled hull will be finished into a cruise ship during next year, the shipbuilder said in a statement.

Outfitting of the ship is a challenging job, the end result of which is to build an unprecedentedly versatile vacation possibilities on the ship. One of the interesting novelties and eight neighborhoods on Icon is the AquaDome neighborhood: a tranquil oasis by day, where guests can enjoy ocean views. By night, it becomes a vibrant place great for a night out with the AquaTheatre that takes entertainment to next level.

Icon of the Seas is its cruise line's first ship that runs on liquefied natural gas and utilizes fuel cell technology. Together with its other features, such as shore power connections and waste heat recovery systems, the ship becomes a pioneer in sustainable development.

365 meters long, almost 50 meters wide and with a gross tonnage of approximately 250 000, Icon of the Seas is the first ship in the Icon series, which in the Meyer Turku shipyard's order book so far has the length of three ships.

"Icon of the Seas is a state-of-the-art ship that challenges the know-how of our shipyard and raises the entire Finnish shipbuilding industry to a new level. We are proud to be responsible for the design and construction of Icon of the Seas in cooperation with the customer and all our partner companies. This is also a significant step for the sustainable development of the shipbuilding industry," says Tim Meyer, CEO of Meyer Turku.

The float out of a new ship is a defining moment, and in the case of Icon of the Seas, it marks the next step in the start of a new era of vacations,” said Michael Bayley, president and CEO, Royal Caribbean International. “We set out to create the world’s best family vacation more than five years ago, the culmination of 53 years of Royal Caribbean firsts and favorites that combine the best of every vacation. That is now a reality more than ever as Icon touches water for the first time.”

Photo: A gun salute is part of the float out ceremonies at Meyer Turku