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TUI’s cruise operations suffer deep loss in Covid-19 aftermath

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 10 December 2020 10 December 2020

The cruise operations of TUI AG, the German travel company that is listed in London, have made a deep loss in the financial year to 30 September in the wake of the Covid-19 pandemic, the company said in a statement.

TUI AG owns 50% of TUI Cruises, which operates a brand of the same name in the German market plus the luxury and expedition market brand Hapag-Lloyd Kreuzfahrten. The company is 100% owner of Marella Cruises that caters for the UK market.

Revenues fell to €472.6 million from €965.8 million and underlying EBIT became negative by €322.8 million compared to being positive by €366.0 million in the 2019 financial year.

TUI Cruises and Hapag-Lloyd Cruises resumed partial operations from Germany at the end of July, operating a reduced fleet with European itineraries. This was made possible by Germany’s decision to permit cross-border travel in EU states and Schengen Area from mid-June, underlining the advantage of our diversified markets.

“In combination with already comprehensive hygiene measures on board our fleet, extensive COVID-19 preventative protocols have been introduced as part of our mandatory safety measures. COVID-19 testing is now included within our German cruise packages and a negative result is compulsory for customers and crew prior to departure,” the company said.

Average daily rate obtained by TUI Cruises fell to €141 from €174, while the figure for Marella Cruises decreased by £3 to £146 and that of Hapag-Lloyd Kreuzfahrten by €40 to 601

There remains considerable uncertainty regarding the likelihood and nature of further lockdowns and travel restrictions over the next few months, the distribution of an effective vaccine and the shape of the economic recovery. “As a result the TUI Executive Board refrains from issuing new guidance for the Financial Year 2021 under the current circumstances,” the company stated

The company expects FY21 to be a year of transition and for the Group to return to profitable growth from FY22 onwards. “The additional financing package agreed strengthens our position and provides us with sufficient liquidity reserves in this volatile market environment, balancing out the presumed travel restrictions until the beginning of the 2021 Summer season,” it said.

“We are actively streamlining the business through targeted cost cutting, whilst prioritising growth spend on digitalisation initiatives. We will be selective in our investment strategy which will be supported by disposals and we will be focused on asset light structures. Our trusted, leading brand with differentiated products is strongly positioned to benefit from the expected market consolidation. Our digitalisation transformation, underpinned by cost control, and balance sheet discipline will drive our return to healthy financial metrics and profitable growth,” TUI said.

Fincantieri moves up on environmental reporting score

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 09 December 2020 09 December 2020

Major independent non-profit organization for environmental reporting previously known as Carbon Closure Project and now called CDP, scored Fincantieri A- for the activities carried out in the past year, moving the company up from its 2019 ‘B’ score.

Fincantieri is the largest builder of cruise ships in the world and recently delivered its 100th new building in this ship category.

It now enters the highest-merit range (in a scale from a minimum of ‘D’ to a maximum of ‘A’), thus confirming its leadership position also within the fight against climate change.

CDP gathers and thoroughly processes data voluntarily submitted by listed companies, assessing both their performances and strategies. The CDP ranking is therefore a globally acknowledged competitive advantage.

It is indeed a useful tool to get ahead of regulatory and policy changes, identify and tackle growing risks, and find new opportunities for action. More than 500 major investors, with overall assets exceeding $100 billion have already requested companies to inform the market about their sustainability stance through CDP, the company said in a statement.

Photo: Fincantieri shipyard at Monfalcone

Carnival Cruise Line to dry dock three ships prior to service restart

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 09 December 2020 09 December 2020

Carnival Cruise Line, the US focused contemporary market unit in Carnival Corporation & plc group, said it has established dry dock plans for three of its ships.

As part of its gradual, phased-in return to operations in 2021, the company will defer the deployment the vessels until after the work is completed.

Carnival advised that it has cancelled cruises on Carnival Magic (up to and including the embarkation on Sept. 24, 2021), Carnival Paradise (up to and including the embarkation on May 31, 2021) and Carnival Valor (up to and including the embarkation on Sept. 11, 2021)

Cunard extends cruise pause of two ships

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 09 December 2020 09 December 2020

Cunard, the UK based premium to luxury market unit in the Carnival Corporation & plc group, said it has extended the suspension of operations of two of its three ships.

“Voyages departing on board Queen Mary 2 up to and including May 28, 2021 and on board Queen Elizabeth up to and including June 4, 2021 are now cancelled. Departures on Queen Victoria remain unaffected and are scheduled to resume May 17, 2021,” the company said in a statement..

At the end of August, the company said that the first ship to sail would be Queen Elizabeth on March 25, followed by Queen Mary 2 on April 18 and Queen Victoria on May 16.

Cunard president Simon Palethorpe said in the statement: “Our extension to the pause in operations is the result of the ongoing restrictions on cruising in the UK and around the world and recognises the significant lead times to return to service, once those restrictions are lifted.”

“We are extremely sorry for the disappointment we know this will cause. We know how much careful consideration goes into planning a holiday and apologise that our guests now have to wait a little longer to travel once again with Cunard.”

“Guests are able to use their enhanced 125% Future Cruise Credit to book for later in 2021 or for one of our newly announced 2022 voyages. The tremendous response already to our 2022 voyages, put on sale just a few weeks ago, clearly demonstrates our guests are eagerly anticipating travelling again with us. We’re equally looking forward to the time when we can welcome back our guests,” Palethorpe concluded.

Photo: model of Queen Elizabeth (2010) onboard the ship

One Quantum of the Seas guest has Covid-19, no further infections found

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 09 December 2020 09 December 2020

One guest aboard Quantum of the Seas tested positive for coronavirus after checking in with medical team on board, the ship's operator Royal Caribbean International said in a statement.

The ship resumed cruises last week, offering short cruises from Singapore and only to residents of Singapore.

“We worked closely with the government to develop a thorough system that tests and monitors all guests and crew and follows public health best practices. That we were able to quickly identify this single case and take immediate action is a sign that the system is working as it was designed to do,” the company pointed out

“We identified and isolated all guests and crew who had close contact with this guest, and each of those individuals have subsequently tested negative for the virus,” it said.

The ship would return to port today in accordance with government protocols, and will debark guests after a review of contact tracing is completed.

“We are in communication with the Singapore government, and appreciate their guidance as we work together to protect the health and safety of our guests and crew,” the company commented.