More News

Swan Hellenic buys SH Vega at auction

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 27 June 2022 27 June 2022

Helsinki Shipyard, having received bids for the auction of NB 517, today announced that Swan Hellenic has been awarded the tender, the Finnish shipbuilder said in a statement referring to an expedition cruise ship called SH Vega.

"Helsinki Shipyard exercised the right to sell the ship by tender, provided for by the shipbuilding contract, after the original buyer failed to take delivery of the ship. The auction ended at midnight on Friday the 24 June and was satisfactory for Helsinki Shipyard, which analysed the bids and declared Swan Hellenic the winner,” it said

The ship will, as anticipated, be delivered to Swan Hellenic as soon as all the registry formalities in The Bahamas have been completed, and Swan Hellenic becomes the sole owner of SH Vega.

The vessel will start operating in the Arctic as scheduled from the 20 July.

Andrea Zito said "We are happy to have secured SH Vega, a Polar Class PC5 vessel with state-of-the-art ship technology and sustainability that will enter service as planned in July. We look forward to welcoming our guests onboard SH Vega to experience our cultural expedition cruises in sophisticated elegance, commencing on the 20^th of July from Tromsø, Norway.”

This is the second ship of the same design that Swan Hellenic that is based on Cyprus has received from the Finnish shipyard. SH Vega and SH Minerva, the first unit, both measure about 10,600 gross tons. Both were originally contracted by Russian principals that had intended bare boat charter the ships to Swan Hellenic. However, this arrangement collapsed after Russian attack on Ukraine and subsequent Western sanctions against several Russian institutions and individuals

A slightly larger 12,500 gross ton newbuilding remains on order for Swan Hellenic that has also acquired SH Minerva since the Russian outrage.

Shares in listed cruise majors soar after Carnival interims

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 24 June 2022 24 June 2022

Shares in major listed cruise shipping companies outperformed firming equity markets by a wide margin in New York and London after Carnival Corporation & plc, the world’s largest cruise operator, had published its second quarter interims.

"It is reinforcing to see continued strength in demand with our guests overcoming far more restrictive protocols than broader society and travel at large, leading to a near doubling of booking volumes since last quarter with near-term bookings even outpacing 2019. We were encouraged by close-in demand and remain focused on optimizing occupancy while preserving long term pricing," outgoing President and CEO Arnold Donald said in a statement.

The company said booking volumes for all future sailings during the second quarter to 31 May were nearly double the booking volumes during the first quarter and Carnival noted these were its best quarterly booking volumes since the beginning of the pandemic, albeit still below 2019 levels.

There had been fears that near term bookings in general would suffer from low prices as a result of inflation, which is hitting multi decade highs in leading Western economies. Shares in the listed cruise majors have fallen sharply in recent weeks due tooth's and general market turmoil.

“Booking volumes for the second half of 2022 sailings, since the beginning of April, have been higher than 2019 levels. The company believes this is a reflection of the previously expected extended wave season. (Due to the ongoing resumption of guest cruise operations, the company's current booking trends will be compared to booking trends for 2019 sailings.),” it said

“While cumulative advance bookings for the second half of 2022 are below the historical range, the company's booked position is consistent with its expected improving occupancy levels for the second half of 2022. Cumulative advance bookings for the second half of 2022 are at lower prices, with or without future cruise credits ("FCCs"), normalized for bundled packages, as compared to 2019 sailings,” Carnival said.

The company expects a net loss for the third quarter and for the full financial year 2022 that will end on 30 November. However, Carnival continues to believe that adjusted EBITDA will improve with the ongoing resumption of guest cruise operations and continues to expect improvement in occupancy throughout 2022 until it returns to historical levels in 2023, it said.

Carnival reported a group net loss of $1.83 billion in the three months to 31 May compared to a loss of $2.06 billion in the same period last year. Revenues rose to $2.40 billion from a mere $50 million year-on. Operating loss narrowed to $1.47 billion from $1.62 billion.

At lunchtime in New York, shares in Carnival Corporation traded 11.09% higher at $10.72, while in London those in Carnival plc had ended the day 8.67% higher at 756.80 pence. The cruise to financial services group Saga gained 3.33% to 189.10 pence, but the TUI that has stakes in three cruise brands lost 3.85%

Back in New York, Royal Caribbean Group had gained 15.47% to $41.54 in New York and Norwegian Cruise Line Holdings soared 14.31% to $13.10

Viking Saturn floated out at Ancona

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 24 June 2022 24 June 2022

Viking Saturn, the newest ocean cruise ship which Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona at the presence of Torstein Hagen, Chairman of Viking, and Pierroberto Folgiero, CEO of Fincantieri, the cruise line said in a statement.

Godmother at the ceremony was Elena Del Mastro, a shipyard employee.

Viking Saturn is about 47,800 tons, 465 cabins with accommodation for 930 passengers.

Viking Saturn, which is the 10^th unit of its class, has been designed by experienced naval architects and engineers, including an interior design team of Los Angeles-based Rottet Studios and London-based SMC Design, who gave the ship a modern design of Scandinavian inspiration, characterized by sophisticated yet functional elegance, Viking said.

In addition to the all-veranda staterooms, the ship also has spacious suites with sweeping views, two pools, of which one infinity pool off the stern, abundant options for al fresco dining, and a spa designed according to the wellness philosophy of the Scandinavian tradition, with a sauna and a snow grotto.

The Viking ships are all built according to the latest navigation regulations and equipped with the most modern safety systems, including the “safe return to port”. They also feature energy-efficient engines, optimized hydrodynamics and hull thereby reducing consumption, as well as systems which minimize pollution produced by exhaust gases, meeting the strictest environmental regulations, the company stated.

Havila Capella to resume sailing as insurance now in place

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 24 June 2022 24 June 2022

Havila Kystruten says it has received the necessary certificates from the Norwegian Maritime Directorate, which means that the coastal cruise ship Havila Capella is now fully insured and can restart operations along the Norwegian coast.

“Havila Capella has been moored at the quay in Bergen since 12 April, when the insurance companies terminated their contracts on the ship due to the EU's sanctions against the leasing company GTLK Asia,” the company said in a statement.

GTLK is a Russian financial group that is facing sanctions following Russian attack on Ukraine.

The company said it had also been working on solutions to take over ownership of the ship. “Among other things, the company has filed a case to the High Court of England & Wales in London to force a change of ownership of Havila Capella. At the same time, the shipping company, through a petition to the Hordaland District Court on 16 June, demanded temporary arrest and forced use to operate Havila Capella,” it said.

Operations to resume on 28 June

On 20 June, the ruling came from Hordaland District Court, where they upheld the company`s request.

“Through the ruling from Hordaland District Court, we have been given the role of principal administrator of Havila Capella, with all the rights that a registered owner has”, CEO Bent Martini explains.

“The Norwegian Maritime Directorate has now issued valid certificates for Havila Capella to Havila Kystruten, which means that we have received valid P&I insurance with assistance from the insurance company Skuld. Over the next few days, we will seek to conclude the hull insurance for the ship, meaning Havila Capella can resume operations from 28 June, when she will embark on her next voyage along the Norwegian coast,” he said.

Martini also wants to point out that Havila Kystruten has had a good collaboration and good dialogue with the Norwegian Maritime Directorate in this matter.

Great importance to the coastal communities

Havila Capella is moored at the quay in Bergen with crew on board and is ready to receive guests.

“It has been important for us to secure our values, and not least our greatest resource - our employees. We have always believed that we would find a solution and have chosen to keep everyone at work. We are pleased with that decision now. We have crew on board who have shown a great willingness to deal with a demanding situation, and who are now very much looking forward to showing off the best of the Norwegian coast to our guests,” said Martini.

“It is also very important for our company to get Havila Capella back in operation. It is of great importance to the coastal communities and Norwegian value creation. Our social mission along the Norwegian coast contributes to a significant number of jobs, and to Norwegian business and tourism beyond our voyages, in addition to being an important part of the infrastructure along the coast,” he concluded.

TUI CEO Joussens to step down, CFO Ebel to succeed

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 24 June 2022 24 June 2022

Fritz Joussens, CEO of the German travel company TUI AG will step down on at the end of the company’s current financial year on 30 September and he will be followed by the current CFO Sebastian Ebel (in photo), the company said in a statement.

The company owns 50% of TUI Cruises that entails cruise brands Mein Schiff and Hapag-Lloyd in Gernany and controls 100% of Marella Cruises in the UK

“The decision is not easy for me. However, I am convinced that now is a right time for a change at the top of the Group Executive Committee and the Executive Board. In making my decision, I have been guided by several questions that I have thought about a lot over the past weeks. Fortunately, I was able to do this at a time when the existential Corona crisis is over. This makes it easier to think about the future and to reflect on personal life planning, which I have which I have of course also discussed with my family,” Joussens said in a letter posted on the company’s website.

The company said Joussens would be exercising a right of resignation granted in connection with the conditions of the Covid 19 stabilisation measures.

“He has informed the Chairman of the Supervisory Board, Dr Dieter Zetsche, and the employees of the Group of his decision. The Presiding Committee of the Supervisory Board will propose to the Supervisory Board of TUI AG to appoint Sebastian Ebel as CEO, effective October 1, 2022. The Presiding Committee of the Supervisory Board will propose to the Supervisory Board the appointment for a period of three years,” TUI said.