Former Fincantieri CEO Giuseppe Bono has passed away

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Written by Kari Reinikainen Kari Reinikainen

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Published: 08 November 2022 08 November 2022

Giuseppe Bono, former CEO of the Italian shipbuilder Fincantieri, has passed away. He was 78.

“Italy mourns the death of Giuseppe Bono, historical guide of Fincantieri and a leading figure in the Italian industry. A painful loss for the whole nation. I extend to his family the most sincere condolences from me and from the Italian Government," Prime Minister Giorgia Meloni wrote on Twitter.

Bono received several honours, including one of Legion d’Honneur in France, an Italian news agency report said

NCLH to work on finances, 2023 booking trend positive, but fourth quarter 2022 loss looms

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Written by Kari Reinikainen Kari Reinikainen

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Published: 08 November 2022 08 November 2022

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping group, said it would continue to work on its financial flexibility and that booking trends for next year were encouraging. However, it forecast a net loss for the fourth quarter of 2022.

“We are on track to generate positive Adjusted Free Cash Flow in the fourth quarter as we continue to march towards our expected return to historical occupancy levels beginning in the second quarter of 2023,” said Mark A. Kempa, executive vice president and chief financial officer.

“We are proactively working to further enhance our financial flexibility and liquidity, including the amendment and extension of our Operating Credit Facility which we expect to complete by year-end,” he said in a statement.

As expected, NCLH’s current cumulative booked position for the fourth quarter of 2022 is below the comparable 2019 period but at higher prices even when including the dilutive impact of future cruise credits (“FCCs”). “Dilution from value-add FCCs issued during the pandemic will not carry over into 2023 as the bonus portion of these FCCs expire at year-end 2022,” the company said.

Booking trends for full year 2023 remain positive with cumulative booked position equal to record 2019 levels inclusive of increase in capacity. “Pricing is significantly higher than that of 2019 at a similar point in time for full year 2023. Net booking volumes continue to be at the pace needed to reach historical Load Factor levels in 2023,” NCLH said.

At the end of September, NCLH’s advance ticket sales balance, including the long- term portion, was $2.5 billion. “This includes approximately $260 million of FCCs or approximately 10% of the total deposit balance. Approximately 60% of the FCC balance outstanding has been applied to future sailings. Gross advance ticket sales build was approximately $1.5 billion during the quarter, in line with the prior quarter,” the company noted.

NCLH said that as a result of the COVID-19 pandemic, the effects of the Russia-Ukraine conflict and current macroeconomic conditions, it would report a net loss for the fourth quarter of 2022.

NCLH cuts third quarter loss as revenue per PCD rises 14%

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Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 08 November 2022 08 November 2022

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping company, has significantly reduced third quarter loss as revenue per passenger cruise day (PCD) rose 14%, which exceeded the company’s forecast.

“Strong ticket pricing and onboard revenue generation resulted in better-than-expected total revenue per Passenger Cruise Day which was up approximately 14% in the third quarter of 2022 versus 2019, higher than guidance for a high-single digits increase and despite the impact of the Russia-Ukraine conflict on premium-priced Baltic itineraries,” the company said in a statement.

Net loss in the third quarter narrowed to $295 million from $845 million year-on, while operating loss was reduced to $185 million from $689 million. Revenues increased to $1.62 billion from $153 million, reflecting the resumption of services and higher prices and onboard spending.  NCLH continued its phased ramp-up in the third quarter focusing on maximizing long-term pricing, which resulted in a 17-point improvement in Occupancy to approximately 82%, consistent with previously outlined expectations. 

“We are demonstrating continued positive momentum as we consistently reach key operational and financial milestones, including positive Adjusted EBITDA in the third quarter for the first time since the start of the pandemic, ‘said said Frank Del Rio, president and CEO.

“The underlying fundamentals of our business and our target upmarket consumer remain strong and our strategy of focusing on maximizing long-term, sustainable profitability is working as intended, evidenced by our 2023 booked position which is equal to 2019’s record levels and at record pricing,” he said in the statement.

Princess Cruises unveils 360: An Extraordinary Experience on Discovery Princess

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Written by Teijo Niemelä Teijo Niemelä

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Published: 07 November 2022 07 November 2022

A new, invitation-only experience from Princess Cruises will soon transport guests nightly to the Mediterranean – no matter where they’re actually sailing – engaging all of their senses with the tastes, sights, sounds, touches and fragrances of the Mediterranean.

"The fully-immersive 360: An Extraordinary Experience is the cruise line’s most epic experience ever offered and is now available onboard Discovery Princess and coming to Enchanted Princess in late January," the cruise line said in a statement.

With the 360: An Extraordinary Experience, guests booked in suite accommodations are invited to embark on a six senses journey showcasing the spectacular hilltops of Santorini, Amalfi Coast, Barcelona and Provence. Through synchronized authentic storytelling, imagery, music, scents, cuisine and stunning visual film, guests are introduced to local ingredients, artisans, passionate purveyors, and culinary methods simultaneously mirrored with a seven-course gourmet experience including wines that emerge from the story of each destination.

“360 is a fusion of master storytelling, world-class cuisine, visual entertainment and ground-breaking technology that manifests in what can only be described as an Extraordinary Experience,” said Princess President John Padgett. “360 is a remarkable adventure that immerses our guests into the compelling cultures and flavors of the Mediterranean in a 90-minute celebration of the senses.”

With two seatings nightly, the cloaked venue accommodates 20 guests surrounded by LED walls in a circular format that places guests into featured destinations using stunning 4K cinematography. The Mediterranean takes center stage as guests are drawn into the memories of a fellow traveler who relives her adventures and local connections made in each destination as her travel journal comes to life.

360: An Extraordinary Experience is configurable and adaptable, with the Mediterranean taking the debut spotlight. Venue personalization is enabled by the OCEAN platform, the Internet of Things platform that powers the exclusive MedallionClass on all Princess ships, and, in addition, each guest receives a unique and limited “360” Princess Medallion that is only available to guests that have participated in the Extraordinary Experience.

Beloved actress and model Brooke Shields, renowned for her extensive modeling, film and TV careers, in addition to her latest entrepreneurial project Beginning Is Now, a global digital platform and brand inspiring inspire women over the age of 40 to live their fullest lives, is the voice of Bethany, the voyager who takes guests on the sensory journey.

An experience that is as memorable as it is priceless, 360 is currently available exclusively for guests booked in suite accommodations on Discovery Princess and Enchanted Princess or for guests sailing on the Discovery Princess or Enchanted Princess that book a future cruise with suite accommodations on any Princess ship including Princess Premier at non-cancelable rates. Invitation access may also be gained from participation in specific “VIP” casino gaming and retail event sailings.