Fred. Olsen Cruise Line’s final quarter loss widens, full year in profit
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- Written by Kari Reinikainen Kari Reinikainen
- Category: More News More News
- Published: 18 February 2016 18 February 2016
Fred. Olsen Cruise Lines, which operates four medium sized vessels on the British market, has reported a widening of of loss in the final quarter of last year, but the full year result shows a profit instead of a deep loss.
In the last three months of 2015, the company made a net loss of NOK 71 million compared to a NOK 63 million loss in the same period a year earlier. Revenues rose to NOK 433 million from NOK 387 million, according to figures released by Bonheur ASA, one of the two listed holding companies of the Olsen family.
For the full year 2015, Fred. Olsen Cruise Lines reported a net profit of NOK 71 million compared to a loss of NOK 120 million in 2014. Revenues rose to NOK 2.09 billion from NOK 1.66 billion.
“The number of passenger days totalled 259 214 (275 737) for the quarter. Net ticket income per diem was 15% lower compared to the corresponding quarter last year. The average spot price of fuel oil in the quarter was 42% lower than in 4 quarter 2014,” Bonheur said.
Carnival Corporation to offer €500 million in five year notes
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 18 February 2016 18 February 2016
Carnival Corporation, the Panama domiciled and US listed holding company in Carnival Corporation & plc group, has filed a registration document to offer €500 million worth of senior notes that would mature in 2021 and carry a coupon of 1.625%.
“We will pay interest on the notes annually in arrears on February 22 of each year, commencing on February 22, 2017. The notes will be issued only in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof,” Carnival Corporation said in the document registered with Securities and Exchange commission in the US.
The company has previously raised debt, on some occasions, before taking deliveries of newbuildings.
Carnival Corporation to sell 29.6 million shares in Carnival plc
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 18 February 2016 18 February 2016
Carnival Corporation & plc, the Anglo-American cruise shipping group, has announced that the group’s Panama domiciled as US listed holding company Carnival Corporation and Carnival Investments Limited, a wholly owned subsidiary of Carnival Corporation, intend to sell existing Carnival plc ordinary shares that they hold in the UK market.
Carnival plc is the group’s UK domiciled holding company, which is listed in London.
The 29.6 million ordinary shares will be sold from time to time in the UK in "at the market" transactions at times when the Carnival Corporation common stock is trading at a discount to Carnival plc shares.
Carnival Corporation & plc intends to use the net proceeds of the Carnival plc Share Sales to repurchase Carnival Corporation common stock on at least an equivalent basis in the U.S. market and to use the remaining net proceeds, if any, for general corporate purposes. Carnival Corporation & plc only intends to trade where it will derive an economic benefit from the Carnival plc Share Sales and Carnival Corporation Stock Swap
“Depending upon market conditions, Carnival Corporation and Carnival Investments Limited over time will sell up to 26,900,000 ordinary shares of Carnival plc in this program. Under the terms of the articles of association of Carnival plc the ordinary shares sold by Carnival Corporation and Carnival Investments Limited will, once held outside of the Carnival Corporation group, become re-enfranchised for voting purposes,” Carnival Corporation & plc said.
Cunard Line to get own resources in UK sales team restructuring - report
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 16 February 2016 16 February 2016
P&O Cruises and Cunard Line, both of which are parts of the Carnival Corporation & plc group, have announced plans for a overhaul of their sales team structure that would include the introduction of dedicated resources for Cunard for the first time under Carnival and an expanded field sales team with greater focus on building up regional business, Travel Weekly reports.
The proposals will see the creation of three teams – national partnerships, managed by Nathaniel Sherborne, retail partnerships led by Shane Riley, and sales operations headed by Natasha Richardson, the report said.
Cunard Line and P&O Cruises have shared shore based resources since the formation of the Carnival Corporation & plc group in 2003. Princess Cruises was also part of the shared UK based organisation, but it was separated from it a few years ago.
Egil Haugsdal appointed President of Kongsberg Maritime
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 16 February 2016 16 February 2016
Egil Haugsdal has been appointed President of Kongsberg Maritime, the maritime equipment unit of the Norwegian Kongsberg group.
“Haugsdal holds extensive leadership experience from Kongsberg, and currently heads Kongsberg Oil & Gas Technologies. He has previous experience from Kongsberg as Executive Vice President of Business Development and as President of Kongsberg Protech Systems,” the company said in a statement.
“I am delighted with the confidence I have been given. After seven years as part of KONGSBERG’s corporate management team I know both the company and the strategy well. Kongsberg Maritime is a solid company with leading international positions, and I look forward to further development of the company together with skilled employees in Norway and internationally,” Haugsdal said in the statement.
In addition to maritime equipment and technology, Kongsberg is involved in defence industry
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