Royal Caribbean Group cuts second quarter loss to $1.3 billion

Royal Caribbean Group, the world’s second largest cruise shipping company, cut its second quarter net loss to $1.3 billion compared to a $1.6 billion loss in the same period last year.

The average monthly cash burn rate for the second quarter of 2021 was approximately $330 million, slightly higher than the prior quarter as the company returned additional ships into operation.

"As we look forward, there is very positive momentum with our ships resuming operations and a healthy demand environment" said Jason T. Liberty, Executive Vice President and CFO, in a statement.

"We are very optimistic with our accelerated start in the United States and globally. We anticipate 80% of our fleet to be back in service by year-end delivering the world's best vacations.  That is the first step on our pathway back to delivering superior returns."

Since the suspension of operations in March 2020, the group has raised approximately $13 billion through a combination of bond issuances, common stock offerings and other loan facilities. These actions have positioned the Group well with current liquidity of approximately $5.0 billion.

Royal Caribbean International expects to have all ships back in service by spring

Royal Caribbean International, the contemporary market unit of the Royal Caribbean Group, said that its complete lineup of 26 ships would be sailing by next spring. 

"We are excited and appreciative to be able to say with confidence when all of our ships will return, especially for travelers looking ahead to plan their getaways. More than 110,000 guests have cruised with us since December, and they've done so safely while enjoying the memorable vacations they trust we'll bring to life," said Michael Bayley, president and CEO, Royal Caribbean International. 

Upcoming 2021-2022 cruises:

 

  • Oasis of the Seas – 7-night Bahamas cruises from Cape Liberty, New Jersey, starting Sept. 5; and 7-night Eastern and Western Caribbean itineraries from Miami, beginning November
  • Liberty of the Seas – 7-night Western Caribbean cruises from Galveston, Texas, starting Oct. 3
  • Serenade of the Seas* 4- and 5-night Western Caribbean cruises from Tampa, Florida, starting Oct. 16; and 7-night Caribbean itineraries, beginning December
  • Explorer of the Seas – 7-night Southern Caribbean sailings from San Juan, Puerto Rico, starting Nov. 7
  • Navigator of the Seas 3-, 4- and 5-night Catalina Island, California, and Ensenada and Cabo San Lucas, Mexico cruises from Los Angeles, beginning Nov. 19
  • Grandeur of the Seas – 7- and 14-night Southern Caribbean sailings from Bridgetown, Barbados, starting Dec. 5
  • Ovation of the Seas – 2- to 10-night domestic itineraries in Australia from Sydney, beginning Dec. 13
  • Brilliance of the Seas – 4- and 5-night Bahamas and Western Caribbean cruises from Tampa, starting Dec. 16
  • Enchantment of the Seas – 8-night Bahamas sailings, and select 12-night cruises to the Southern Caribbean from Baltimore, starting Dec. 23
  • Vision of the Seas – 10- and 11-night Southern Caribbean itineraries from Fort Lauderdale, Florida, beginning Jan. 24, 2022
  • Voyager of the Seas – 7- and 9-night cruises in Northern Europe from Barcelona, Spain, starting April 15, 2022
  • Radiance of the Seas – 7-night Alaska sailings from Vancouver, Canada, beginning April 29, 2022
  • Rhapsody of the Seas – 7-night Mediterranean and Greek Isles itineraries, sailing from Rome starting May 23, 2022

MSC Meraviglia restarts cruises from the PortMiami

MSC Meraviglia yesterday became the latest MSC Cruises ship to return to welcome guests when she sailed out of PortMiami, Florida. This is a key milestone as part of the line’s global plan to have more than half of MSC Cruises fleet back at sea by the end of this summer, following the line’s initial restart in the Mediterranean in August 2020 and over the past several months the return at sea of more of its ships across the Mediterranean and Northern Europe, the UK, the Red Sea and now in the Caribbean out of U.S. ports. Many tens of thousands of guests have returned to enjoy a cruise at sea on an MSC Cruises ship since last summer, under the protection of the brand’s industry-leading health and safety protocol that is now also available for cruises out of U.S. ports.

MSC Meraviglia is currently on her first 4-night cruise visiting Nassau, The Bahamas and Ocean Cay MSC Marine Reserve, where the ship will stay overnight allowing guests an extended stay to discover the Company’s new private island destination. Named the Best New Cruise Destination, offers guests more than two miles of white sand beaches in an eco-friendly 64 square mile marine reserve. Guests will enjoy the island’s natural beauty, discover local marine life and soak up the spirit of The Bahamas with ships docking at the island from early morning into the evening and in some instances overnight. Guests can spend a full day enjoying activities for all ages including stand-up paddle boarding, kayaking, snorkeling, thrilling wave runner rides and more.

What’s ahead for MSC Cruises in the U.S.?

MSC Meraviglia will sail 3- and 4-night cruises beginning today and add 7-night eastern and western Caribbean cruises starting 18 September 2021. MSC Divina will become MSC Cruises’ second ship to return to cruising from the U.S., with 3-, 4- and 7-night itineraries beginning September 16 from Port Canaveral – a new homeport for the Company.

Delivered just last week as the largest cruise ship ever built in Italy, MSC Seashore – MSC Cruises’ newest flagship – will arrive to her new homeport in Miami on November 18, 2021 immediately following her inaugural season in the Mediterranean. As an evolution of the awards-winning Seaside class, the ship will bring guests closer to the sea than ever before with 140,000 sq. ft of outdoor space, the most of any MSC Cruises ship in the U.S., numerous outdoor bars and dining, pools and deck area for relaxing and sunbathing, as well as a variety of brand new spaces for guests.

VARD delivered Le Commandant Charcot to Ponant

Fincantieri’s subsidiary VARD, one of the major global designers and shipbuilders of specialized vessels, delivered Le Commandant Charcot, polar exploration vessel for the French cruise company Ponant.

The unique and state-of-the-art electric hybrid exploration vessel powered with LNG has been developed by Ponant, Stirling Design International, Aker Arctic and VARD. The vessel is specially designed to bring passengers to discover the polar world’s extreme unexplored lands such as the geographic North Pole (90 degrees North Latitude), the Weddell Sea, the Ross Sea and Peter I Island. The unit, classified as Polar Class 2, will fulfill the highest standards for environmentally friendly and safe operations. It is the first-ever electric hybrid cruise vessel with ice-breaking technology and dual fuel propulsion, featuring high-capacity batteries and LNG storage on board.

Le Commandant Charcot is about 30,000 gross tons, about 150 meters long, and 28 meters wide. The vessel accommodates 245 passengers in 123 staterooms, in addition to a crew of 235 persons.

Seacation bookings “more than double from mid-July”

British specialist cruise retailer cruise.co.uk  said bookings for seacations have more than doubled since mid-July, with enquiries increasing by the same amount.

“A number of cruise lines are offering seacations this year, which are domestic sailings that travel round Britain, and can include visits to a variety of UK destinations.The seacation was already cruise.co.uk's most popular holiday prior to the spike in demand,” the company said in a statement.

The lifting of Covid-19 restrictions from 19 July also meant that cruise ships can now sail with full capacity. Prior to this, the capacity was limited to 1,000 passengers or 50% of maximum capacity, whichever was lower.

Tony Andrews, deputy managing director of cruise.co.uk, said: “Seacations have really captured the imagination of holidaymakers this year, with the option to stay in UK waters clearly proving appealing. The amazing facilities and value-for-money that cruises offer, coupled with the lack of availability on land, means we’re seeing strong demand from both a new-to-cruise audience and seasoned travellers alike.”

“The safety element is also really important. Cruise lines have gone above and beyond to ensure that guests feel reassured on and off their ships.

“The all-inclusive nature of a ship - including meals and entertainment - means they are like a floating resort with everything you need on hand to help you relax, unwind and really make the most of your time away.”

Cruises to foreign ports from England can resume as per today, while seacations will run until October.

Photo: Liverpool Pier Head