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P&O Cruises publishes 2023/24 programmes

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 03 November 2021 03 November 2021

P&O Cruises, the UK focused contemporary market unit in the Carnival Corporation & plc group, said it has launched its summer 2023 and winter 2023/24 programmes.

These include Arvia’s maiden summer season, first full winter season in the Caribbean and new “island vibe” summer itineraries on Britannia. All holidays include a range of launch booking offers.

Arvia will enter service in late 2022 and it will be sister ship of Iona that entered service this summer, although the ship had been delivered in the autumn of 2020.

Arvia’s first summer sailing from Southampton will be a series of 14 night holidays featuring up to six of the most popular ports in Italy, Spain and France. Itinerary choices include La Spezia (for Florence and Pisa) or overnight visits to Barcelona.

From October 2023 Arvia will sail its first full season of Caribbean fly/cruise holidays from home port Barbados until the end of March ’24.

Pre-registration for summer 2023 and winter 2023 / 2024 holidays opens on November 3, 2021.

Summary of 2023/24 itineraries and ship deployments

Arvia

In summer, a series of 14 night holidays to La Coruna; Marseille; Seville (from Cadiz) and Barcelona (with selected cruises offering an overnight call); other ports include Palma; Florence and Pisa (from La Spezia); Valencia or Alicante

In winter, seven and 14 night Caribbean fly/ cruises from Barbados.

Iona

In summer, seven night holidays to the Norwegian fjords round trip from Southampton.

In winter, holidays to Spain, Portugal and the Canary Islands round trip from Southampton.

Britannia

In summer, seven night Norwegian fjords cruises, 14 night Baltic cruises, including two day calls to St Petersburg, as well as 14 night western Mediterranean island cruises featuring either an overnight call in Palma or Palma and Ibiza

In winter, 14 night Caribbean fly/cruises from Barbados.

Azura

In summer, Mediterranean fly/cruise holidays of either seven or 14 nights departing from Malta to either iconic ports in the Western Mediterranean including Rome (from Civitavecchia); Ajaccio in Corsica and Villefranche or alternatively Greece and its islands including Mykonos and Corfu in the Eastern Mediterranean

In winter, Canary Islands fly/cruises from Tenerife, consisting of two alternating seven night cruises which can also be combined to create a 14 night holiday.

Ventura

In summer, Atlantic Coast and Canary Islands holidays as well as short breaks to Amsterdam.

In winter, holidays to Spain, Portugal and the Canary Islands and well as Caribbean cruises with some itineraries also visiting New Orleans. To celebrate New Year 2024 Ventura will sail a special five night cruise to the vibrant cities of Amsterdam and Bruges (from Zeebrugge).

Arcadia and Aurora

In summer, Arcadia and Aurora will visit Norway, Russia, New York and the Greek islands. Itineraries have been specifically designed to include lesser frequented destinations, including Grundafjordur in Iceland, Palermo in Sicily and Klaipeda in Lithuania.

Arcadia summer itineraries feature an Iceland and North Cape cruise including an overnight call to Reykjavik and scenic cruising of the North Cape. Aurora’s summer holidays include a 30 night Canada and USA cruise with overnight calls in both Boston and New York.

In winter, Aurora will operate two 12 night ‘in search of the Northern Lights’ itineraries with one of these trips taking place over Christmas 2023. The ship will also offer a 65 night USA, Caribbean and Central America cruise with an overnight call New Orleans plus a partial transit of the Panama Canal.

Arcadia will offer a full world cruise of 99 nights, departing January 6, 2024, with ports including Sydney, Auckland, Hong Kong and Singapore. For 2024 an overnight call to Singapore has been added in addition to the established overnights in Honolulu, Sydney, Hong Kong and Dubai.

Carnival closes private offering of $2.0 billion notes

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 03 November 2021 03 November 2021

Carnival Corporation & plc, the Anglo-American cruise shipping group, said that its Panama domiciled and US listed Carnival Corporation unit, had closed its private offering of $2 billion aggregate principal amount of 6% senior unsecured notes due 2029.

“The Senior Unsecured Notes will pay interest semi-annually on May 1 and November 1 of each year, beginning on May 1, 2022, at a rate of 6% per year and are callable beginning November 1, 2024. The Senior Unsecured Notes are unsecured and will mature on May 1, 2029,” the company said in a statement.

Lindblad Expeditions cuts third quarter loss, no guidance on return to profit

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 03 November 2021 03 November 2021

Lindblad Expeditions, the US based listed expedition cruise operator, has cut its loss in the third quarter from the same period last year, but the company did not issue guidance regarding when it expected to return to profit.

Third quarter adjusted EBITDA loss came to $6.9 million, which was an improvement of $10.9 million of the loss in the corresponding quarter last year.

“The Covid-19 pandemic has had, and will continue to have, a significant impact on the Company's financial position and results of operation,” the company said in a statement.

“Given the continued uncertainty around the Covid-19 pandemic, the Company is not providing a full year outlook regarding results of operations at this time and will update its expectations when it has more clarity around the timing of and extent of future operations, Lindblad said.

Dolf Berle, Chief Executive Officer, said in the statement: "We are extremely excited to have nearly all of our ships back exploring the world's most remarkable destinations, providing high-quality and immersive expeditions to our loyal guests.”

“The pent-up demand for authentic adventure travel is evident in both the overwhelmingly positive guest response as we return to destinations that we have been travelling to for decades, as well as in the sustained booking momentum we are generating across our fleet.”

NCLH sees return to profitability in second half of 2022

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 03 November 2021 03 November 2021

Norwegian Cruise Line Holdings Ltd (NCLH), the third largest cruise shipping group in the world; said continued to expect to reach a critical inflection point in the first quarter 2022 with operating cash flow turning positive.

“In addition, based on the current trajectory, the Company expects to be profitable for the second half of 2022,” it said in a statement.

NCLH continues to execute on the phased relaunch plans for its 28-ship fleet. The Company had approximately 40% of its capacity operating by the end of the third quarter 2021 with the fleet in service being cash flow positive in the quarter.

Occupancy in the third quarter 2021 was 57.4%, reflecting the Company’s self-imposed occupancy limits. Looking ahead, approximately 75% of capacity is expected to be operating by year-end 2021 with the full fleet back in operation by April 1, 2022.

Delta variant impact recedes

A negative impact on bookings of the Delta variant of the covid-19 virus that affected the final quarter and early 2022, NCLH’s overall cumulative booked position for full year 2022 is in line with 2019’s record levels at higher pricing even when including the dilutive impact of future cruise credits (“FCCs”).

“The overall cumulative booked position for the second half of 2022, when the full fleet is expected to be back in operation and at normalized occupancy levels, is meaningfully higher than 2019 and at higher prices,” the company said.

Advance ticket sales were $1.7 billion, including the long-term portion, which includes approximately $750 million of FCCs as of September 30, 2021. Advance ticket sales increased $0.3 billion on a net basis from the end of the second quarter even with approximately $100 million of revenue recognized in the quarter.

NCLH third quarter loss deepens to $845.9 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 03 November 2021 03 November 2021

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest cruise shipping group, has reported a significant deepening of third quarter loss as resumption of operations increased operating costs

Net loss for the quarter was $845.9 million or EPS of $2.29 compared to net loss of $677.4 million or EPS of $2.50 in the third quarter of 2020. The company had 11 of its 28 ships in service at the end of September,

Revenue increased to $153.1 million compared to $6.5 million in 2020 as cruise voyages resumed in the quarter.

Total cruise operating expense increased 131.3% in 2021 compared to 2020 as cruise voyages resumed in the quarter.

“In 2021, cruise operating expenses were primarily related to crew costs, including salaries, food and other travel costs as ships were prepared to return to service, fuel, costs related to health and safety protocols and other ongoing costs such as insurance and ship maintenance,” the company said in a statement.

Fuel price per metric ton, net of hedges, increased to $693 from $592 in 2020. The Company reported fuel expense of $79.2 million in the period.

Interest expense, net was $161.2 million in 2021 compared to $139.7 million in 2020. “The increase in interest expense reflects additional debt outstanding at higher interest rates, partially offset by lower LIBOR, NCLH said.