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Tallink Grupp reports increase in net profit

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 01 March 2013 01 March 2013

AS Tallink Grupp and its subsidiaries (the Group) carried a total of 9.26 million passengers in the 2012 financial year which is 1.3% more than the year before. The Group’s unaudited consolidated revenue grew 4% to EUR 943.9 million in the 2012 financial year. Gross profit was EUR 201.2 million, EBITDA EUR 165.5 million and unaudited net profit reached EUR 56.3 million (EUR 0.08 per share) which is 49% or EUR 18.6 million increase compared to the previous year.

In the fourth quarter (1 October- 31 December) of the 2012 financial year the Group carried 2.1 million passengers, 1% more compared to the same period last year. The Group’s consolidated revenue in the fourth quarter increased by 4% to EUR 222.8 million. The net profit for the fourth quarter was EUR 5.7 million compared to the net profit of EUR 0.6 million in the same period last year.

The main contribution for the growth in total revenue in 2012 came from the increase from shops and restaurants sales by nearly EUR 30 million. The ticket sales have been under pressure throughout the 2012 year due to bad weather and tight competition. The positive development on shop and restaurant sales continued also in the fourth quarter showing 6% increase on absolute terms and 5% increase per passenger basis when compared to the fourth quarter of the previous year.

Significant fuel price increase in the first half of 2012 has had impact to the Group’s profit margins. In the fourth quarter of 2012 the prices were at the previous year levels. Despite the high fuel price movement in 2012 the Group has been able to make good sales performance and to increase the earnings for 2012 financial year. Noticeable impact to the year’s net profit came from the earlier closure of Finland-Germany route and the following profitable charter of the related vessels.

During the 2012 the Group has focused to upgrade and improve the visibility and appearance in the electronic sales channels. The new consumer marketing web pages were upgraded. Throughout the year the new version of online booking engine has been developed and is currently in the testing phase. The easiness, usability, convenience and price transparency of online booking have been the main focus areas. Tallink’s mobile booking application became available for Android and Apple mobile platforms.

In December 2012 the Group signed a new five-year loan agreement in amount of EUR 440 million to refinance several of its older loans. In result of the refinancing the Group’s total loan repayment schedule for the next few years was reduced to ensure stronger liquidity position. Due to early repayment of the loans the arrangement fees of these loans were written off as they were initially amortized over the period of the loan. The write off expense of EUR 3.2 million was recorded in Q4 2012.

In 2012 financial year the interest bearing bank debt reduced by EUR 119.2 million or 12.4%. The net debt at the end of 2012 was EUR 774 million and the net debt ratio to EBITDA was 4.68. At the end of December 2012 the Group had nearly EUR 66 million in cash and equivalents and the total of unused credit lines were EUR 50 million. The total liquidity, cash and unused credit facilities at the end of the fourth quarter were EUR 116 million providing a strong position for sustainable operations.

Fred. Olsen Cruise Lines consolidates special offers under Anchor Fares banner

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 01 March 2013 01 March 2013

Fred. Olsen Cruise Lines says it is bringing its various special offers under a single banner, entitled ‘Anchor Fares’. From 1st March 2013, ‘Anchor Fares’ will replace the existing ‘Specialsaver’ and ‘Latesaver’ fares, although fares currently in circulation in these two categories will remain until they expire.

The move is intended to make it easier for consumers and travel agents alike to identify Fred. Olsen’s promotional ‘best buys’. A special logo has been developed to assist in this respect.

Nathan Philpot, Sales and Marketing Director for Fred. Olsen Cruise Lines, said: “In a sometimes confusing market place, with a plethora of promotional cruise offers and prices, we hope that the introduction of ‘Anchor Fares’ will help our customers and trade partners by giving them a simplified pricing structure and an even clearer update on the latest Fred. Olsen cruise bargains available.”

As ‘Anchor Fares’ offer specially-reduced prices, certain Terms and Conditions apply:

-Full payment required at the time of booking

-100% cancellation charges

-Non-transferrable to any other cruise

-No cabin number and/or cabin grade provided at the time of booking

-Not able to be combined with ‘Oceans Cruise Club’ discounts

-Dining sitting allocated at Fred. Olsen Cruise Lines’ discretion*

However, Anchor Fare guests can choose to book a dining sitting (at the time of booking) for a supplement of £2.00 per person, per night, the company said in a statement.

Carnival Dream's itineraries expanded to include new five- and eight-night cruises, along with unique four-port, seven-night option

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 28 February 2013 28 February 2013

Carnival Cruise Lines has expanded Carnival Dream's year-round schedule from Port Canaveral, Fla., to include never-before-offered eight-day Caribbean departures along with two new five-day options, and a one-of-a-kind four-port, seven-day eastern Caribbean itinerary.

With these new options, Carnival Dream will offer six distinctly different five- to eight-day cruise programs from Port Canaveral - the widest variety of itinerary choices from this highly popular Central Florida homeport. Additionally, the expansion further bolsters the line's position as the Caribbean cruise leader, operating approximately 1,250 voyages and carrying more than 3.6 million passengers within the region each year.

Carnival Dream's two new eight-day schedules include a three-port Southern Caribbean itinerary with extended stops at the islands of Aruba, Curacao and Grand Turk, and an eastern Caribbean itinerary featuring visits to four tropical destinations: St. Maarten, Tortola, St. Thomas and Grand Turk. Seven southern Caribbean voyages will be offered, departing May 2 and 30, Aug. 23, Oct. 4, and Dec. 6, 2014, and Feb. 7 and March 7, 2015, while six eastern Caribbean cruises depart May 17, Sept. 5, Oct. 17, and Dec. 19, 2014, and Feb. 20 and March 20, 2015.

The two new five-day departures mark the first time that Carnival has offered short-cruise itineraries on a Dream-class ship. One five-day program features the popular ports of Key West, Nassau and Freeport departing May 25 and Oct. 12, 2014, and March 15, 2015, while the other offers day-long visits to Nassau and Grand Turk departing Aug. 31 and Dec. 14, 2014, and Feb. 15, 2015.

The line has also created a new four-port, seven-day eastern Caribbean itinerary - unique to Port Canaveral - that includes stops at Grand Turk, San Juan, St. Thomas and Nassau. These attractive week-long cruises are being offered roughly once a month and complement Carnival Dream's existing seven-day western Caribbean cruises calling at Cozumel, Belize, Mahogany Bay, and Costa Maya that sail throughout the year.

The 3,646-passenger, 130,000-ton Carnival Dream launched year-round Caribbean service from Port Canaveral in 2009, ushering in a number of innovations for the line. These include a half-mile wraparound outdoor promenade called The Lanai, along with Ocean Plaza, a stunning indoor/outdoor café and entertainment venue, and Carnival WaterWorks featuring a 303-foot-long Twister water slide and other splash-tastic features.

The ship also features a wide variety of accommodation choices, including more than 1,000 balcony and ocean view staterooms - perfect for viewing the spectacular Caribbean scenery, as well as two-bath, five-berth staterooms that hold particular appeal with families. Expansive children's facilities, along with a Serenity adults-only retreat and a 23,750-square-foot Cloud 9 Spa, are also offered.

MSC Cruises launches the MSC Bike Experience

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 28 February 2013 28 February 2013

This summer season, travellers enjoying MSC Magnifica’s northern European adventures will be able to pedal their way through the region’s enchanting landscapes and cosmopolitan cities with the all new fun and eco-friendly MSC Bike Experience.

From 15 April to 1 September 2013, MSC Magnifica’s diverse itineraries will offer cycle tours in various ports of call in Denmark, Germany, Iceland, Ireland, the Netherlands, Norway, Russia, Sweden and the UK.

Bikes will be provided by well-known Italian bike brand Lombardo, whose technicians will train up the MSC Magnifica crew to ensure that every bike on board is shipshape and ready to roll in each port.

Inspired by the best of local sights and culture, northern Europe’s love of cycling and the region’s many beautiful cycle paths, imaginative tours on offer include Spin The Spokes & Go Native In Amsterdam; Hamburg’s Remarkable, Likeable & Eminently Bikeable; Biking Over the White Cliffs of Dover; The Scenic Stockholm Cycling Tour; Gourock, The Gantocks And Glorious Greenery: A Cycling Tour In The Key Of G in Greenock; Retrace the Steps of Russian Royals in St Petersburg and many, many more!

Organized bike tours with fixed itineraries, a guide and technical assistance on hand have been designed for different levels of ability through various terrains, meaning that there’s a suitable tour available for everyone, from the super sporty to those simply looking for a relaxing ride.

What’s more, it will even be possible to buy a bike on board, with new MSC bikes by Lombardo delivered directly to each traveller’s home following the cruise at a competitive price.

Summertime in northern Europe is the ideal season and location for a cycling holiday, and there’s no better way to relax tired legs and unwind after an exhilarating cycle ride than on board state-of-the-art cruise ship MSC Magnifica. With her three swimming pools, five restaurants offering authentic Mediterranean and international cuisine, the sumptuous MSC Aurea Spa and numerous entertainment options for all ages, MSC Magnifica’s MSC Bike Experience combines the very best that land and sea have to offer.

Cruise Europe welcomes three new members

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 27 February 2013 27 February 2013

Cruise Europe, the cruise association for Northern and Atlantic Europe recently announced having admitted three new members, namely Bremerhaven, Wismar and Bordeaux. Alan Lam reports.

The inclusion of two German ports has put an end to the glaring absence of Germany from the Cruise Europe map. The organisation had keenly felt the absence from its membership this fast growing destination and source market.

“Bremerhaven and Wismar are both very attractive ports that will provide a missing link in the membership of Cruise Europe,” said Jens Skrede, Managing Director, commenting on this announcement. “I have visited both ports, and the Chairman joined on our Wismar visit. We were impressed by the facilities and the people.”

Bordeaux is an important addition in that it is the only member situated between Cherbourg and Bilbao. “This wine capital of the world is a very attractive destination,” said Jens Skrede. The admission of Bordeaux has increased the French port membership of Cruise Europe to five.

“We are certain that our new members will gain from being a part of the strong network that is Cruise Europe,” echoed Michael McCarthy, the Chairman.