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RCCL beats 2013 forecast, net profit rises to $473.6 million

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 27 January 2014 27 January 2014

Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, has exceeded the forecasts of industry analysts and reported a net profit of $473.6 million for 2013, an increase from $18.3 million in 2012, when impairment charges hit the bottom line.

The fresh figure corresponds with earnings per share (EPS) of $2.40, which exceeded analysts forecast of $2.35. Revenues rose to $7.96 billion from $7.68 billion.

For the final quarter of2013, RCCKL reported net profit of $7.0 million compare to a loss of $392 million the same period last year, while revenues rose to $1.85 billion from $1.80 billion.

Prestige Cruise Holdings to raise $250 million through IPO

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 24 January 2014 24 January 2014

Prestige Cruise Holdings, parent company of Regent Seven Seas Cruises and Oceania Cruises, has filed with U.S. regulators to raise up to $250 million in an initial public offering of common stock, the Reuters news agency reports.

Prestige is controlled by Apollo Management, the US based private equity company that took the Norwegian Cruise Line group public in 2012-13.

Net proceeds from the offering will be used to repay debt and for working capital purposes, Miami, Florida-based Prestige said, according. to the report

The company's net profit rose to $47.6 million in the nine months ended Sept. 30, from $26.3 million, a year earlier. Revenue rose 7% to $917.4 million.

Fincantieri and Seabourn seal newbuilding deal agreed in October

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 21 January 2014 21 January 2014

Fincantieri, the Italian state owned shipbuilder, and Seabourn, the ultra-luxury brand of Carnival Corporation & plc, the Anglo American cruise shipping group, the world’s leading cruise operator, have announced today the signing of a contract for the construction of an ultra-luxury ship. The order follows last October's letter of intent between the two companies.

"The ship, due to join the Seabourn fleet in the second half of 2016, will be built according to the standards and technical solutions that make Seabourn one of the most prestigious brands in the ultra-luxury segment and will continue the fleet modernization that began in 2009," Fincantieri said.

The all-suite ship will be approximately 40,350 gross tons, 210 metres long and 28 metres wide and will be able to reach a cruising speed of 18.6 knots. It will carry up to 604 guests, accommodated in 302 spacious suites, all with a private balcony.

Safety will be one of this ship's major strong points. It will be built using the very latest technologies, whose standards will exceed the requirements of the relevant legislation. Fuel consumption will be significantly reduced by optimizing the ship's hydrodynamics, the shipbuilder said.

British cruise market grows 5% in 2013

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 20 January 2014 20 January 2014

Forecast figures released on January 16 by the Cruise Lines International Association (CLIA) show that a record 1.79 million British holidaymakers took a cruise in 2013 – an increase of more than 5% on 2012.

Despite continued economic pressures on consumer spending, an additional 89,000 UK passengers took an ocean cruise in 2013. Passenger figures are up by 21%, or more than 300,000, compared to five years ago (2008).

Globally, the number of cruise passengers is forecast to be 21.3 million in 2013 – an increase of almost 2% over 2012, whilst the number of European passengers who took a cruise in 2013 is predicated to be 6.4 million – a year on year growth of more than 4%. The global number of cruise passengers for 2014 is forecast to be 21.7 million.

As the cruise industry sails into 2014, it continues to invest billions of pounds in new ships. This year alone will see the launch of six ocean cruise ships worth £2.38 billion, with a capacity of 18,196 passengers. 2014 and 2015 collectively will see a total of 13 ocean cruise ships launched worth more than £5 billion and accommodating over 37,000 passengers.

The cruise industry is currently worth almost £2.5 billion a year to the UK economy, and creates more than 66,000 jobs in this country. Globally, the industry is worth US$100 billion (£61.1 billion) and provides around 775,000 jobs.

Andy Harmer, Director of CLIA UK & Ireland, said: “The incredible choice and diversity of a cruise is reflected in the record number of British passengers who took a holiday last year. Many of CLIA's 63 member cruise lines are revitalising and investing in new ships, ensuring that guests enjoy modern, innovative ships of varying sizes, designed to cater for all ages and which offer amazing holidays to destinations around the world."

"The travel trade has played a crucial role in the growth of the British market. More than 70 per cent of cruise holiday bookings in the UK are made through a travel agent, with their expert knowledge an important factor in securing each booking."

"In the year ahead, we will step up our agents training programme to ensure our 5,000 partner agents are kept fully up to date with the many new ships and cruise itineraries being introduced."