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Norwegian Cruise Line names Kiran Smith as Chief Marketing Officer

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 26 June 2025 26 June 2025

Norwegian Cruise Line announced today the appointment of Kiran Smith as Chief Marketing Officer, succeeding Adam Malone, who will transition into the newly created role of Senior Vice President of Guest Experience. Both will report into NCL President David J. Herrera and serve as members of the Brand senior leadership team.

With decades of experience elevating public and private companies and bringing them to the next stage of their growth potential, Smith will lead the marketing team to build a unified approach in executing data-driven strategies designed to put the guest at the center. Insight-driven storytelling will be at the core to strengthening the brand positioning, increasing guest engagement, driving sustained performance and attracting new cruise audiences.

“Kiran is a brilliant marketing mind with an incredible reputation for consistently delivering compelling campaigns that break through the noise and captivate audiences," said David J. Herrera, president of Norwegian Cruise Line. "I am so excited about the countless stories we have to tell about our innovative vacation experiences, amazing guests and team members.”

Herrera continued, “Over the past eight years, Adam has made significant impacts within the marketing organization and across the NCL brand as a whole. I am thrilled to have him take on this new role leading the development of guest experiences and ensuring that our long-term vision for the Brand is integrated across every step of the guest journey.”

Norwegian Cruise Line has a strong pipeline of ships on order, with seven newbuilds being added to the fleet through 2036 for an overall 50% more capacity growth. Additionally, this past April, the cruise line announced plans to expand the guest experience on its 5.6-acre private island in the Bahamas, Great Stirrup Cay, with a new multi-ship pier; an expansive area for guests to soak up the warm Bahamian sun complete with an oversized heated pool; experiences for the whole family including a splash zone with fun water fountains and features for children; as well as a swim-up bar for guests who want to keep enjoying their unlimited open bar package off the ship.

Given the overall growing demand for cruising as a popular vacation option and the Company’s strategic fleet expansion plans, Smith will play an instrumental role in encouraging innovation and creativity across the marketing organization and helping the team leverage the latest in technology to effectively generate demand for NCL’s next generation of ships and global destinations.

“NCL is a true pioneer in the cruise industry, and I’m honored to join the Company at such a pivotal and exciting time,” said Kiran Smith, incoming chief marketing officer of Norwegian Cruise Line. “Building brands that truly connect with people has always been at the heart of my work. NCL is a brand with a bold spirit, strong culture and a rich legacy — I look forward to working with this incredibly talented team to help shape its next chapter and inspire even more guests to explore the world with us.”

Her previous experience includes executive level roles across national and international consumer-focused brand companies, including ButcherBox, iRobot, Brookstone and Stride Rite where she served as the chief marketing officer. She also served as the chief executive officer of Arnold Worldwide, where she led a comprehensive assessment and realignment of the agency's business model to increase profitability. Her career journey also includes experience with SUPERVALU and Shaw's Supermarkets, Alliance Consulting Group, Kraft Foods and Accenture.

Kiran Smith completed a Bachelor of Arts degree in Computer Science from Bucknell University, and then she went on to pursue a Master of Business Administration (MBA) degree from The Tuck School of Business at Dartmouth, specializing in Marketing.

Rauma Marine Constructions delivers Spirit of Tasmania V

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 25 June 2025 25 June 2025

Rauma Marine Constructions (RMC) has today delivered the second Spirit of Tasmania car and passenger ferry to the Australian TT-Line Company. This delivery completes one of the largest bilateral export projects ever between Finland and Australia.

Tasmanian company Spirit of Tasmania (TT-Line Company Pty Ltd) ordered two car and passenger ferries from RMC for operation on the challenging open sea route between Geelong and Devonport in the Bass Strait of Australia. The first vessel was delivered in 2024 and now the Spirit of Tasmania V has also been completed.

"I want to thank the owner for excellent cooperation that has enabled us to together bring this project to a successful end. The vessel represents the strong shipbuilding expertise found in Rauma and demonstrates the capabilities of the Rauma shipyard. I also want to say thank you to our cooperation partners and the Classification Society. Next, we shall proceed towards the production of electric ships," says Mika Nieminen, the CEO and President of Rauma Marine Constructions Oy.

The new high-speed Spirit of Tasmania vessels have been specifically designed for challenging sea conditions and will replace their predecessors built in Finland in the 1990s. They boost significantly higher passenger, vehicle, and freight capacity in comparison to the older vessels.

Rauma Marine Constructions has built five car and passenger ferries during its existence. Vessels built by the company include, among others, Aurora Botnia, the northernmost LNG-powered car and passenger ferry in the world, and the Spirit of Tasmania vessels which are now the southernmost LNG-powered car and passenger ferries in the world.

RMC invests strongly in the utilisation of the future energy solutions. The company has headed research projects focusing on the development of electrically operated ships, such as the Decatrip and FUSE projects. As the most recent example, RMC was in the FUSE project tasked with creating the concept for a fully electric ship.

RMC’s current order book extends to the year 2028 and includes four multi-purposecorvettes for the Finnish Navy. The first of them was launched in May and the keel of the second was laid also in May. The Squadron project is estimated to generate the equivalent of 3,600 person-years of employment. The multi-purpose corvettes are expected to become also export products in the future.

Main particulars of Spirit of Tasmania IV:

Length: 212 m
Beam: 31 m
Draught: 7 m
Gross tonnage: 48,000 t
Speed: 26 knots (48 km/h)
Lane metres: 3,700 m
Passengers: 1,800
Cabins: 301

Carsten Lund named CEO of SunStone Maritime Group

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 25 June 2025 25 June 2025

SunStone Maritime Group A/S takes next step in previously announced leadership transition.

After 35 years as Chief Executive Officer, founder Niels-Erik Lund is retiring as CEO on June 30th, 2025. Niels-Erik will remain involved in the group as a member of the Board of Directors.

As of July 1st, Carsten Lund will assume the role of CEO of the Group. He previously served as SunStone’s Chief Commercial Officer, where he was responsible for the Company’s client relations and commercial development.

This scheduled transition is the latest step in SunStone's succession plan to transfer the responsibility of leading the family-owned group to Carsten and his brother Christian Lund, who continues as Chief Operating Officer.

Carnival Corporation & plc achieves highest-ever second quarter operating results

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 25 June 2025 25 June 2025

Carnival Corporation & plc yesterday announced financial results for the second quarter 2025 and provided an updated outlook for the full year and an outlook for the third quarter 2025.

– Exceeded 2026 SEA Change financial targets 18 months early, with adjusted return on invested capital ("ROIC")1,2 and adjusted EBITDA per available lower berth day ("ALBD")1,2 reaching the highest levels in nearly two decades.
– Improved second quarter net income by nearly $475 million and adjusted net income1 more than tripled compared to 2024, outperforming March guidance by $185 million.
– Delivered record second quarter revenues of $6.3 billion with record net yields1 (in constant currency) significantly outperforming March guidance due to strength in both close-in demand and onboard revenues.
– Cumulative advanced booked position for 2026 is in line with 2025 record levels and at historical high prices (in constant currency).
– Achieved all-time high customer deposits of $8.5 billion.
– Extended and upsized its revolver capacity to $4.5 billion in June, a 50 percent increase.

According to Carnival Corporation & plc's Chief Executive Officer Josh Weinstein, "Our amazing team delivered yet another phenomenal quarter, more than tripling adjusted net income driven by record net yields (in constant currency) and strong close-in demand. We also remain on track for a strong 4 percent net yield growth in the second half, consistent with what we forecasted back in December which was before the complex macroeconomic and geopolitical backdrop we have all experienced in the last few months. Combined, this has enabled us to raise full year guidance again."

"On top of this, thanks to our consistent track record of significant outperformance, we have already exceeded our 2026 SEA Change financial targets a full 18 months early, increasing adjusted EBITDA per ALBD by 52 percent and more than doubling adjusted ROIC to over 12.5 percent in less than two years. We also met our third 2026 SEA Change commitment to cut carbon intensity by 20 percent from 2019 levels. That's a win for the planet and our bottom line," he said.

"Our strong results, booked position and outlook are a testament to the success of our ongoing strategy to deliver same-ship, high-margin revenue growth. We continue to set ourselves up well for 2026 and beyond, with so much more potential to take our margins, returns and results even higher over time."

Second quarter 2025 results

– Net income was $565 million, or $0.42 diluted EPS, an improvement of nearly $475 million compared to 2024.
– Adjusted net income of $470 million, or $0.35 adjusted EPS1, outperformed March guidance by $185 million led by higher ticket prices, higher onboard spending and the timing of expenses between the quarters.
– Record operating income3 of $934 million.
– Record adjusted EBITDA1,3 of $1.5 billion exceeded 2024 by 26 percent.
– Operating margins and adjusted EBITDA margins1 increased over 500 and 300 basis points, respectively, compared to 2024 and significantly exceeded 2019 levels.
– Record revenues3 of $6.3 billion, up nearly $550 million compared to the prior year.
– Gross margin yields were over 25 percent higher than 2024.
– Record net yields3 (in constant currency) were 6.4 percent higher than 2024 and significantly outperformed March guidance by 200 basis points.
– Cruise costs per ALBD decreased 0.3 percent compared to 2024. Adjusted cruise costs excluding fuel per ALBD1 (in constant currency) increased 3.5 percent compared to 2024 primarily due to higher dry-dock days and was better than March guidance due to the timing of expenses between quarters.
– Fuel consumption per ALBD decreased 6.3 percent compared to the prior year and was better than March guidance by approximately 300 basis points due to the company's efforts and investments to continuously improve the energy efficiency of its operations.
– Total customer deposits reached an all-time high of $8.5 billion.

Bookings

"Our guests continue to look to us as their preferred vacation choice given the amazing experiences our cruise lines provide. Even with the price increases we have achieved over the last few years, our tremendous value compared to land-based alternatives has supported our ability to continue demonstrating remarkable resilience amid heightened volatility. In fact, close-in demand and onboard spending levels were incredibly strong for second quarter sailings and our booking curve continues to be the furthest out on record," Weinstein noted.

The company's cumulative advanced booked position for the remainder of the year remains strong with occupancy the second-highest on record and pricing (in constant currency) at historical highs. While early, the company's booked position for 2026 is in line with 2025 record levels (at the same time last year) and at historical high prices (in constant currency).

2025 outlook

For the full year 2025, the company expects:

– Net yields (in constant currency) approximately 5.0 percent higher than strong 2024 levels, which were up 11 percent and 0.3 percentage points better than March guidance.
– Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.6 percent compared to 2024, better than March guidance.
– Adjusted net income up over 40 percent compared to 2024 and better than March guidance by $200 million.
– Adjusted EBITDA of approximately $6.9 billion, up over 10 percent compared to 2024 and better than March guidance.
For the third quarter of 2025, the company expects:

– Net yields (in constant currency) up approximately 3.5 percent compared to strong 2024 levels, which were up almost 9 percent.
– Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 7.0 percent compared to the third quarter of 2024 primarily due to operating expenses for the opening of Celebration Key, higher investment in advertising expenses and the impacts of lower 2025 capacity and favorable one-time items in 2024.

Financing

"We continued rebuilding an investment grade balance sheet, working aggressively to reduce interest expense, simplify our capital structure and manage our future debt maturities — refinancing nearly $7 billion of debt already this year at favorable rates. Our success has been recognized with credit rating upgrades that now put us within one notch of achieving investment grade ratings with both S&P and Fitch," commented Carnival Corporation & plc's Chief Financial Officer David Bernstein. "We also recently extended and upsized our revolver capacity by 50 percent on more favorable terms, meaningfully enhancing our liquidity. This, coupled with our well managed near-term maturity towers, enables us to opportunistically accelerate our debt reduction efforts," Bernstein added.

The company continued its efforts to proactively manage its debt profile. Since February 28, 2025, the company has:

– Prepaid $350 million of its $1.4 billion 7.625 percent senior unsecured notes due 2026 and refinanced the remainder with $1.0 billion 5.875 percent senior unsecured notes due 2031. These transactions will reduce net interest expense by over $20 million through its original scheduled maturity in 2026.
– Upsized its euro denominated floating rate loan by $112 million, extended its maturity from 2025 to 2029 and amended its margin at a favorable rate.
– Entered into a new $4.5 billion multi-currency revolving credit facility ("New Revolver") in June, which contains an accordion feature allowing for additional commitments up to $1.0 billion. The New Revolver replaced the existing multi-currency revolving credit facility ("Revolving Facility") and will mature in June 2030.
– During the quarter, S&P upgraded the company's credit rating to BB+ with a stable outlook and Fitch upgraded the company to BB+ with a positive outlook. The company believes this is a reflection of its improved leverage metrics and its strong momentum on its continuing journey to investment grade ratings.

The company ended the quarter with $27.3 billion of total debt. As of May 31, 2025, the company's debt maturities for the remainder of 2025 and full year 2026 are $0.7 billion and $1.4 billion. The company achieved a 3.7x net debt to adjusted EBITDA1 ratio as of May 31, 2025, an improvement from 4.1x as of February 28, 2025.

Other recent highlights

– Ordered two newbuilds for AIDA Cruises, scheduled to be delivered in fiscal years 2030 and 2032, introducing a new mid-size class ship and bringing its newbuild pipeline to eight ships through 2033 (learn more here).
– Carnival Cruise Line announced it will launch "Carnival Rewards," a new loyalty program, in June 2026. The program will be a cruise-industry first by tying status, benefits and rewards to spending on cruise fares and onboard activities. It will also add new features, new ways to earn status and new reward categories.
Introduced the Paradise Collection by Carnival, which will include the following:
– Celebration Key, its new exclusive destination on Grand Bahama Island, opening in July 2025, which will feature five portals built for fun offering an abundance of features and amenities for guests.
– RelaxAway, Half Moon Cay, its highly rated and award-winning exclusive destination in the Bahamas, which will be enhanced and expanded to feature a newly constructed pier in the summer of 2026.
– Mahogany Bay, its port destination in Roatan, Honduras, will be renamed to Isla Tropicale in 2026 and expanded to include a pool with a swim up bar and cabanas, beach expansion and a private beach club.
– More enhancements to come for its Caribbean destinations.
– Named one of America's Best Employers for New Grads in 2025 by Forbes (learn more here).
– Sold Costa Fortuna and recorded a gain on the sale. The ship is expected to leave the fleet in September 2026.

Viking announces 14 new ocean itineraries for 2026 and 2027

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 11 June 2025 11 June 2025

Viking yesterday announced that 14 new ocean itineraries exploring the Mediterranean, United Kingdom, Ireland and Scandinavia in 2026 and 2027 are now open for booking. Ranging from 15 to 36 days, each of the new voyages combines two or more of Viking’s most popular itineraries to allow for more in-depth exploration.

“Viking guests are curious travelers who are interested in enriching their lives by exploring and learning about the world,” said Torstein Hagen, Chairman and CEO of Viking. “With our destination-focused approach and elegant small ships, our voyages have always been designed to bring guests closer to their destination and provide opportunities for cultural immersion. These new voyages offer even more choices for guests who wish to extend their time abroad with one seamless itinerary.”

With a fleet of small sister ships, Viking offers more than 100 itineraries across all five oceans. Viking’s new ocean voyages visit celebrated cultural capitals – as well as emerging destinations – throughout Europe and beyond.