Carnival adjusted EBITDA turns positive in third quarter
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 30 September 2022 30 September 2022

CarnivalCorporation & plc, the world’s largest cruise shipping company, said its adjusted EBITA turned positive for the first since the Covid-19 pandemic in three months to 31 August, the third quarter of its financial year, but in terms of net result, it remained deeply in the red.
“Adjusted EBITDA for the third quarter of 2022 was over $300 million, turning positive for the first time since the resumption of guest cruise operations and marking a significant milestone,” the company said in a statement.
Group net loss in the third quarter amounted to $770 million compared to $2.84 billion in the same period last year. Revenues soared to $4.31 billion from $546 million.
In the first nine months of the financial year, the group mad a loss of $4.49 billion compared to $6.88 billion a year earlier. Revenues increased to $8.33 billion from $621 million.
Onboard and other revenue per passenger cruise day (PCD) for the third quarter of 2022 increased significantly compared to a strong 2019. “PCDs for the third quarter of 2022 were 17.7 million, representing a 55% increase from the prior quarter.
Occupancy in the third quarter of 2022 increased 15 percentage points from the prior quarter,” Carnival said.
Available lower berth days (ALBD) for the third quarter of 2022 were 21.0 million, or 92% of total fleet capacity, increasing from 74% in the second quarter of 2022, the company said.
Former yacht of Onassis inspires Four Seasons Yacht design
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 29 September 2022 29 September 2022

Image: CGI of the new cruise yachts of Four Seasons
The exterior design of the two large cruise yachts that Four Seasons Yachts will operate seems to have been inspired by a yacht that once belonged to Aristotle Onassis (1906-75), the Greek shipping tycoon.
In 1954, Onassis acquired the frigate HMCS Stormont that had been built in Canada in 1943 and converted it into a luxury yacht that he named Christina, after her daughter.

Image: Christina O. Photo credit: yachtcharterfleet.com
Onassis owned the vessel with a length of 99 metres and a displacement of 2,550 tonnes until his death and entertained a wide range of celebrities onboard with his wife, Jacqueline Kennedy, formerly First Lady of the US and wife of President John F. Kennedy.
The two vessels of Toronto, Canada based Four Seasons will be significantly larger with a length of 207 metres. However, the lines of the new ships that are on order from Fincantieri bear a striking resemblance to the former yacht of Onassis, which remains in service today as Christina O.
The structure housing the funnel suite on the Four Seasons ships has been shaped to resemble the funnel of Christina O and a mast with e.g. sitcom equipment and along stern deck with swimming pools are another similarities with the famous older vessel.
“Globally renowned design partners have been engaged including Tillberg Design of Sweden as lead architect responsible for the design of exterior and guest suites, and London-based Martin Brudnizki Design Studio for the design of many of the yacht’s spectacular guest areas. These design partners will be paired with the creative direction of Prosper Assouline,” Four Seasons said in a statement.
Viking takes delivery of second expedition ship
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- Written by Teijo Niemelä Teijo Niemelä
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- Published: 28 September 2022 28 September 2022

Viking has taken delivery of the Viking Polaris, the company’s second purpose-built expedition ship. The delivery ceremony took place yesterday morning at Fincantieri’s VARD shipyard in Søviknes, Norway, where Viking’s first expedition ship, the Viking Octantis, was delivered in December 2021. The Viking Polaris immediately set sail toward Amsterdam, where she will be named on September 30 by her ceremonial godmother, Ann Bancroft, one of the world’s preeminent polar explorers.
Currently sailing in the Great Lakes, the Viking Octantis will also be named on September 30 by her ceremonial godmother, Liv Arnesen, the world-renowned Norwegian explorer, lecturer, author and educator. From Amsterdam, the Viking Polaris will make her way to South America, and both ships will spend the Austral summer in Antarctica, before traveling north to the Great Lakes for a series of voyages during spring and summer.
“Today is a proud day for the Viking family as we welcome the Viking Polaris to our fleet. These are phenomenal ships, and we are very pleased with the positive reception from guests during the first season of our new expeditions,” said Torstein Hagen, Chairman of Viking. “The great explorer, Ann Bancroft, has honored us by serving as godmother to the Viking Polaris, and we look forward to welcoming her first guests on board later this week.”
Saga ocean cruise operations remain on track to deliver earnings target
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 27 September 2022 27 September 2022

Ocean cruise operations of Saga plc, the UK based travel to insurance services provider to those over the age of 50, remain on track to deliver the company’s earnings targets for its two high end of the market ships.
“We have already seen strong early 2023/24 bookings, representing a load factor of 42% and per diem of £325. This is on track to deliver our commitment of £40million EBITDA per ship,” Saga said in a statement.
"Following our return to service after the pandemic, our Ocean Cruise business secured strong bookings and is on track to achieve our targets for this year and next, while we also made the final preparations for our new digital Saga Travel business which has just launched the first of our new products,” CEO Euan Sutherland said in the statement.
Ocean cruise operations of the company generated positive EBITDA and cash flow in the first half of the year, supported by a load factor of 66% and a per diem of £318.
Bookings for the full year, at 18 September 2022, reflected a 74% load factor with a per diem of £319.”We are on track to achieve the 75% target load factor for 2022/23 (84% in the second half) as we return to pre-pandemic operating conditions following the removal of all temporary COVID-19 measures,” Saga said.
During the last six months, the company combined its Ocean and River Cruise teams into a single team to deliver the same service across all ships, encouraging guests to cross-sell between the two. “River Cruise to Ocean Cruise cross-sell at 31 July 2022 was 18% and vice versa was 6%. Both represent improvements year-on-year and demonstrate a tremendous opportunity moving forwards,” the company said.
Looking ahead to the second half of the year, Saga expects a continued recovery in our Cruise and Travel businesses. “We anticipate that the headwinds experienced in the first six months will recede as customer demand continues to rebuild and we are able to grow our bookings. Whilst we are mindful of the broader inflationary environment in the UK, the exposure within these businesses has been largely offset or, in the case of fuel, hedged, and at present, we are not seeing any impact to demand from our customers,” the company said.
Intent to book cruise exceeds 2019 levels in UK - CLIA
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- Written by Kari Reinikainen Kari Reinikainen
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- Published: 26 September 2022 26 September 2022

Cruise Lines International Association (CLIA) has released new consumer sentiment data showing the demand and perception of cruise holidays are now greater than in 2019, the organisation said in a statement.
According to the survey, intent to book a holiday at sea among UK passengers now exceeds levels from three years ago:
* 85% of respondents who have cruised previously said they intend to take a holiday at sea again, a 6% increase from 2019
* Furthermore, among travellers who have taken a cruise in the last six months, 90% said they intend to cruise again
* Of those who have never cruised, 66% are open to cruising, a 0.5% increase from 2019
Overall, 69% of international cruise holidaymakers stayed at least one night in their local destination prior to embarkation, with 43% extending the stay by two or more nights. And 67% stayed at least one night after disembarkation, with 34% extending by two or more nights, while 60% said they later returned to a destination they had first visited by cruise.
In addition, as cruise lines continue to advance their sustainability initiatives in pursuit of net-zero carbon cruising by 2050, the percentage of international travellers who say the cruise industry is a leader in responsible travel reached 51%, a 9% increase over the past year.
Andy Harmer, CLIA UK & Ireland managing director, said: “This year has been enormously encouraging for cruise, and it’s heartening to see demand for a holiday at sea is set to continue. The sheer number of repeat passengers we’re anticipating, combined with interest from those yet to sail, means the appeal of going on a cruise remains as strong as ever.
“The economic advantages passengers bring to the destinations they visit is also clear, meaning local businesses - from taxis, to restaurants to hotels - benefit accordingly. And we’re delighted to see the raft of sustainability initiatives we have in place, including our 2050 net-zero carbon goal, were recognised.”
The sentiment data is based on an independent, international survey of 4,000 holidaymakers in eight countries: the UK, France, Germany, Italy, Spain, the USA, Canada and Australia.
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