Emirates and TUI Cruises renew partnership, working closely to deliver seamless air-sea experiences

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Written by Teijo Niemelä Teijo Niemelä

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Published: 04 March 2025 04 March 2025

Emirates has renewed its strategic partnership with TUI Cruises, further cementing Dubai's position as a premier global cruise tourism hub. The strategic extension of this partnership coincides with TUI Cruises' expansion in Dubai, marked by the addition of a second vessel homeporting its operations there for the 2025/2026 cruise season.

The partnership renewal was formalised during ITB Berlin by Adnan Kazim, Deputy President and Chief Commercial Officer, Emirates Airline and Wybcke Meier, CEO of TUI Cruises and underscores Emirates' commitment to deliver integrated travel experiences that seamlessly connect air travel with maritime journeys.

Emirates will continue to work closely with TUI Cruises across several areas, including marketing initiatives, planning and operational strategies. Emirates will strategically coordinate flight schedules with TUI Cruises' itineraries, ensuring optimal connectivity between air and sea segments for cruise customers. The airline and cruise company will also collaborate on dedicated capacity in the form of ‘cruise blocks’ to meet demand from key markets across the airline’s network where possible.

In addition, Emirates will work closely with its Dubai stakeholders on enhanced ground transportation solutions between Dubai International Airport (DXB) and Port Rashid Cruise Terminal.

Adnan Kazim, Deputy President & Chief Commercial Officer, Emirates said: "Emirates takes immense pride in our pivotal role elevating Dubai's status as a premier global cruise destination. This achievement reflects years of strategic investment in world-class maritime infrastructure, iconic attractions, unparalleled connectivity and streamlined ground handling operations for international cruise visitors. These elements have established Dubai as the gateway of choice for the most coveted cruise itineraries globally. Our renewed collaboration with TUI Cruises and its continued commitment to growing its presence in Dubai aims to further enhance cruise passenger arrivals in our home and hub, and across our network, enabling travellers to experience exceptional maritime journeys aboard TUI's magnificent vessels."

Wybcke Meier, CEO of TUI Cruises, said: "We are thrilled to renew our partnership with Emirates, a collaboration that perfectly aligns with our commitment to providing exceptional travel experiences. By seamlessly integrating air and sea journeys, we are able to offer our guests unparalleled convenience and connectivity. Dubai's strategic location and world-class infrastructure make it an ideal hub for our expanded operations. Besides, it is a popular destination for our guests, offering a unique blend of modern luxury and cultural heritage. We look forward to welcoming more guests aboard our vessels and delivering unforgettable cruise experiences together with Emirates."

The airline will also identify avenues to extend the partnership's scope beyond Dubai, with a focus on Far East cruises. TUI Cruises' Mein Schiff 6, with a capacity of over 2,500 passengers includes a 14-day itinerary, starting from Singapore, docking in Malaysia, Thailand, Hong Kong, Vietnam, Japan, then back to Singapore.

Additionally, the partnership encompasses leveraging data-driven insights to elevate service delivery and deploying specialised support personnel for cruise passengers to facilitate a more streamlined check in process. The world-class Hamdan bin Mohammed Cruise Terminal at Port Rashid, recognised as the largest single covered cruise facility globally, can support 14,000 daily cruise passengers.

Dubai's cruise sector growth stems from carefully coordinated collaboration from across the tourism and aviation ecosystem, which includes expedited customs and visa processes, duty free services, complimentary city shuttles, and Emirates' dedicated remote check-in facilities at Port Rashid. Emirates' 16 dedicated check-in counters help cruise passengers to process luggage and secure boarding passes up to four hours before departure, affording them the opportunity to explore Dubai unencumbered before making their way back to the airport.

For the upcoming season, TUI Cruises will deploy two vessels to Port Rashid, each accommodating over 2,500 passengers. Travelers can select from two distinct itinerary options featuring embarkation and disembarkation in Dubai with calls at Abu Dhabi, Oman and Qatar.

Uniworld to add three new river ships to its fleet in 2027

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Written by Teijo Niemelä Teijo Niemelä

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Published: 03 March 2025 03 March 2025

Uniworld Boutique River Cruises announces the addition of three new Super Ships to its fleet, set to debut in 2027. The ships will be brand new builds, featuring lavish designs inspired by the destinations they sail through, and will complete Uniworld’s transformation to an all-Super Ship fleet. Uniworld’s trademark Super Ships are the pinnacle of luxury, with grand design elements using only the highest quality materials like custom fabrics, hand-carved wood and marble floors. Onboard all Super Ships, guests will find original artwork at every corner, most specially commissioned for the ship or by famed artists; and more space, including additional suites and dining venues, and ultra-luxurious amenities. All three new vessels will sail throughout Europe, cruising the Rhine, Main, Danube and Douro rivers.

“2027 will mark an extraordinary milestone for Uniworld as we complete our transformation into a fully Super Ship fleet with the addition of three incredible new builds,” says Ellen Bettridge, President and CEO of Uniworld Boutique River Cruises. “Our focus has never been on simply adding more ships, but on continually raising the bar on the luxury river cruise experience. These new vessels will embody our unwavering commitment to innovation and craftsmanship, delivering something truly unparalleled for our valued guests – where no detail is too small.”

The three new ships will join other recent Super Ships including the S.S. Emilie, debuting in 2026; the S.S. Elisabeth, debuting in 2025; and the S.S. Victoria, which set sail in 2024 – all in Europe – expanding the line’s fleet size by over 10% since 2020. Uniworld ships are the most extraordinary vessels on the rivers, all one-of-a-kind floating boutique hotels with curated artwork, custom decor to bring the destination to life onboard, and furniture of the highest quality. Similar to the S.S. Emilie, which is inspired by renowned Austrian painter Gustav Klimt and named after his life partner and muse, Emilie Flöge, the new builds will be inspired by prominent figures with strong connections to the regions sailed. The new ships will follow the same design approach, each with its own unique inspiration, look, and feel.
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Finnlines plans EUR 500 million investment for three new ropax vessels

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Written by Teijo Niemelä Teijo Niemelä

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Published: 01 March 2025 01 March 2025

Finnlines, which recently announced its 2024 results, is planning to invest for new ropax vessels.

Tom Pippingsköld, President and CEO, commented the results: ”The Finnlines Group’s revenue in January–December 2024 amounted to EUR 699.3 (680.7 in 2023) million, an increase of 3 per cent compared to the corresponding period in 2023. Earnings before interest, taxes, depreciation and amortisation, EBITDA, amounted to EUR 162.0 (166.3) million.

The cargo volumes transported during January–December 2024 totalled around 782 (710 in 2023) thousand cargo units, 85 (156) thousand cars (not including passengers’ cars) and 1,234 (1,344) thousand tons of freight not possible to measure in units. In addition, some 936 (695) thousand private and commercial passengers were transported.

During the past few years Finnlines has mostly developed its new routes outside Finland to reduce its dependency solely on the Finnish market. In 2022, Finnlines launched a freight service between Rosslare, Ireland, and Zeebrügge, Belgium. Demand for direct, scheduled freight services from Ireland to Continental Europe grew in the wake of UK leaving the EU. In April 2024, a freight and passenger line was opened between Malmö, Sweden, and Świnoujście, Poland. The Port of Świnoujście has good road connections to Southern Poland, Czech Republic, Slovakia and to other Central Eastern European countries. Malmö, in turn, is the gateway to Scandinavia and via the Öresund Bridge to Denmark and other destinations in the European continent. In autumn Finnlines moved its freight services to and from Britain to the Port of London Medway, into Sheerness, in the south-eastern part of UK. Today, Finnlines connects over 20 ports across Europe and many of the company’s ships are increasingly familiar sights in ports outside the Baltic Sea.

Finnlines has renewed its fleet during the past few years with three large-sized hybrid Finneco ro-ro vessels and two large-sized hybrid Superstar ro-pax vessels, and has now completed its EUR 500-million Green Investment Programme. Leveraging the fleet’s economies of scale and taking advantage of recent vessel sales, Finnlines can enhance its cost-efficiency, and through its routes opened outside Finland can create new growth opportunities.

Finnlines is currently considering a further investment of EUR 500 million in three new ro-pax vessels, which will be powered by methanol engines, which can also run on other fuels. These methanol or so-called multi-fuel vessels are projected to enter into service at the beginning of 2028 and through this huge environmental investment in green vessels, Finnlines will continue to support its customers in a most sustainable way.”

Norwegian Cruise Line Holdings reports strong full year 2024 financial results

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Written by Teijo Niemelä Teijo Niemelä

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Published: 27 February 2025 27 February 2025

Norwegian Cruise Line Holdings Ltd. today reported financial results for the fourth quarter and full year ended December 31, 2024:

– Generated 2024 full year record total revenue of $9.5 billion, increasing ~11% over full year 2023 on 3% capacity growth. GAAP net income was $910.3 million, up 448% compared to 2023, with EPS increasing 386%, to $1.89.
– 2024 full year Adjusted EBITDA grew 32% to a record $2.45 billion, compared to $1.86 billion in 2023 with Adjusted EPS of $1.82.
– Total debt was $13.1 billion and Net Leverage was 5.3x at December 31, 2024, a two turn reduction from December 31, 2023 on net cash provided by operating activities of ~$2.0 billion.
– 2025 Adjusted EBITDA is expected to be ~$2.72 billion, or an 11.0% increase versus 2024.
– 2025 Adjusted Net Income is expected to be ~$1.07 billion, including headwinds from foreign exchange and fuel. Adjusted EPS is expected to be ~$2.05, further establishing a clear path towards our Charting the Course 2026 targets.

“2024 was marked by strategic and transformative milestones for Norwegian Cruise Line Holdings. From launching our Charting the Course strategy, announcing an ambitious newbuild program and the construction of our Great Stirrup Cay pier, and successfully executing brand initiatives and new guest experiences across our entire portfolio, we have laid out a solid foundation for an exciting future,” said Harry Sommer, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “These achievements, driven by the dedication of our over 41,000 team members both shoreside and shipboard, led to exceptional financial performance with record revenue, Net Yield growth, and Adjusted EBITDA, enabling us to further strengthen our balance sheet and reduce our Net Leverage two full turns. Through disciplined cost management and by capitalizing on strong demand, we remain confident in achieving our 2026 Charting the Course targets.”

Full year 2024

– Generated record total revenue of $9.5 billion, an ~11% increase compared to full year 2023 on 3% capacity growth. GAAP net income was $910.3 million, a 448% increase compared to 2023, with EPS increasing 386%, to $1.89. Performance was driven by strong revenue growth and continued execution on cost reductions and efficiencies throughout the year. In 2024, the Company recorded a $162 million or $0.31 per share benefit from a tax valuation allowance release related to US deferred tax assets and a $53 million or $0.10 per share benefit from foreign exchange.
– Gross margin per Capacity Day was up 23% versus 2023 on an as reported and Constant Currency basis. Net Yield growth reached record levels, increasing over prior year by approximately 9.9% on an as reported and Constant Currency basis, due to strong demand and pricing across our deployment.1
– The Company’s sustained focus on margin enhancement drove significant improvements in operating costs. Gross Cruise Costs per Capacity Day was approximately $304 for the year. Adjusted Net Cruise Cost excluding Fuel per Capacity Day was approximately $160 on an as reported and Constant Currency basis, and was up 3.9% as reported and 3.8% on a Constant Currency basis compared to $154 in 2023. Excluding a $5 impact from higher Dry-dock days and related expenses, Adjusted Net Cruise Cost excluding Fuel per Capacity day was up approximately $1, or 1%, year-over-year driven by higher variable compensation.
– Adjusted EBITDA grew 32% to $2.45 billion, a record high, compared to $1.86 billion in 2023. Adjusted EPS grew to $1.82, which includes a $0.10 benefit from foreign exchange.
– Total debt was $13.1 billion. Net Leverage was 5.3x at December 31, 2024, a two turn reduction from December 31, 2023.
– Achieved Adjusted ROIC of 10.9%, a 320 basis point improvement from 7.7% in the prior year.
– Made strong progress and on track towards achieving our Charting the Course 2026 targets announced at our May 2024 Investor Day.
– Announced a transformative newbuild program – a total of eight state-of-the-art vessels, representing approximately 25,000 additional berths, and the construction of a multi-ship pier at Great Stirrup Cay.