Top Headlines

RCCL on track seen in July as Europe, Asia shine

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 October 2014 24 October 2014

Royal Caribbean Cruises Ltd. (RCCL), the world’s second largest cruise shipping company, said the outlook for the rest of 2014 remains as foreseen in July, with strong markets in Europe and Asia offsetting weakness in the Caribbean.

"Despite the usual swings, the trajectory for 2014 continues along the path described three months ago," said Jason T. Liberty, chief financial officer. "Our satisfaction with the positive results in Europe and Asia continues unabated, as does our eagerness to lap the highly promotional Caribbean environment."

Bookings since the July earnings release have been solid and the company continues to be booked ahead of last year in both load factor and APD. Double-digit yield improvements on Europe and China sailings continue to offset the continuation of a highly promotional Caribbean environment.

The company expects full year adjusted EPS to be approximately $3.45 per share. Constant-Currency Net Yields are expected to increase approximately 2.5%, consistent with the mid-point of previous guidance. NCC excluding fuel are expected to be flat to slightly down on a Constant-Currency basis, consistent with prior guidance.

In the final quarter, Constant-Currency Net Yields are expected to be up approximately 3.5% in the fourth quarter of 2014 and NCC excluding fuel are expected to be up in the range of 2% to 3%. TUI Cruises' additional capacity continues to be a key contributor to earnings for the fourth quarter. Based on current fuel pricing, interest rates and currency exchange rates and the factors detailed above, the company expects fourth quarter Adjusted EPS to be in the range of $0.35 to $0.40 per share.

RCCL third quarter net profit reaches $490.2 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 October 2014 24 October 2014

Royal Caribbean Cruises Ltd. (RCCL, the world’s second largest cruise shipping group, reported third quarter results and provided a preliminary outlook for 2015.

Group net profit rose to $490.2 million in the third quarter from $365.7 million in the same period last year, while revenues increased to $2.39 billion from $2.31 billion.

In the first nine months of the year, the profit increased to $654.4 million from $466.7 million, while revenues reached$6.25 billion, an increase from $6.10 billion a year earlier.

The company said early books for 2015 are robust and that it expects earnings of $4.55 per share for next year.

Chinese bank to finance three Silversea newbuildings at Fincantieri

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 22 October 2014 22 October 2014

The Industrial and Commercial Bank of China (ICBC), one of China’s leading state-owned investment banks,with an extensive international maritime business portfolio, has signed a agreement with Silversea Cruise Holding through its financial leasing arm, ICBC Leasing, to build three cruise ships at Fincantieri. Alan Lam reports.

It has emerged that the deal is worth about €800 million. This is the first Chinese bank directly involved in financing international cruise ship newbuilding venture. It is a new milestone not just for the financial institution, but for the country. It will help China taking another stepcloser to realising its ambition in the cruise shipbuilding sphere.

In January 2013 the same two parties reached an agreement to cooperate on the financial leasing business of five-star cruise company Silver Shadow. ICBC Leasing has been otherwise active in maritime business; to date it owns and manages about 200 ships worldwide, including bulk freighters, container units, chemical tankers and cruise vessels.

This development is the latest in a series of major recent penetrations into the cruise sector by Chinese companies; among them are the Ctrip’s recent acquisition of a major tonnage and the agreement between Carnival, Fincantieri and CSSC to build cruise ships in China, not to mention RCCL’s involvement in the endeavour of CSSC Xiamen to design a Chinese cruise ship and the possible acquisition of a second ship by Bohai Ferry. There will be more to come.

So far, at least, Fincantieri seems to be a major beneficiary in these newfound opportunities.

Viking River Cruises order six ships at Neptun

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 18 October 2014 18 October 2014

Viking River Cruises, the Basel based river cruise line, has placed an order for six Longship class river cruise vessels with Neptun Werft in Rostock, the shipyard said in a statement.

The now ordered ships will be delivered in the Spring of 2016 and they will carry 190 passengers in 95 outside cabins. The will be 135 m in length, 11.45 m in beam and have a draft of 1.60 m.

Viking River cruises has a fleet of 53 ships. Neptun Werft is part of the Meyer Werft group that has a major cruise ship building facility in Papenburg. It recently acquired controlling interest in the shipyard in Turku, Finland.

Carnival plc shares in sharp fall on Ebola news

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 17 October 2014 17 October 2014

Shares in Carnival plc, the British holding company in Carnival Corp & plc group, traded sharply lower in the afternoon on media reports saying that a passenger that may have handled Ebola samples is in quarantine on board Carnival Cruise Line's Carnival Magic.

At just after 2pm, the shares in Carnival plc traded 3.4% down at £21.19, close to the session's low of £20.93 but quite a way above a 52-week low of £20.48.

The wider stock market firmed in London, like in most other European countries, after several days of losses. The FTSE100 share index of leading shares was 0.99% higher at the same time.