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Regatta, Insignia and Nautica to be refurbished in 2014

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 05 August 2013 05 August 2013

Oceania Cruises today announced that Regatta, Insignia and Nautica, its trio of award-winning R-Class ships, will undergo a significant transformation starting early next year in the largest refurbishment program in the company's history.

The ships will receive a $50 million upgrade in a six-week timeframe that includes the refurbishment of suites, staterooms and select public rooms, some in the colors and décor-style found on the line's newest ships - Marina and Riviera. The ships' top accommodations, the Owner's and Vista suites, will receive new bathrooms including the addition of oversized showers and new vanities. Original artwork, in-line with the celebrated collection on Marina and Riviera, will be commissioned for all suites and staterooms.

The Terrace Café, which offers casual gourmet dining, will also be completely refurbished including the addition of a state-of-the-art grill allowing for grilled dinner specialties such as lobster tails, steaks and lamb chops made famous onboard Marina and Riviera.

The company is also adding to Regatta, Insignia and Nautica the popular Baristas coffee bar found on its newest ships. Guests will enjoy complimentary gourmet and specialty illy™ coffees including espressos, cappuccinos and lattes as well as homemade croissants, biscotti and finger sandwiches throughout the day.

"This refurbishment program is an incredible undertaking but we are excited by the opportunity to bring some of the best features of our O-Class ships to Regatta, Insignia and Nautica," said Kunal S. Kamlani, president of Oceania Cruises. "We will preserve the personality, elegance and comfort of these vessels while furnishing certain areas with the updated décor and amenities that are found on Marina and Riviera. This will ensure a consistent experience across the fleet that we know our guests will love and appreciate."

Horizons, the line's observation lounge, will also be refurbished with a new color scheme and décor. In addition, the company will completely enclose the ships' only indoor smoking area, located in Horizons, with glass and install a state-of-the-art air filtration system.

Oceania Cruises' flagship restaurant, the Grand Dining Room as well as Toscana, the line's Italian restaurant will be expanded with more tables for two. Lastly, the ships’ show lounges will be refurbished, Martinis will be outfitted with new furniture and the Canyon Ranch SpaClub will receive new steam and changing rooms.

The dry docks are scheduled from April 24 to June 6, 2014 with Insignia and Nautica being refurbished in Marseilles, France and Regatta in Vancouver, BC.

The renovated Insignia will debut on May 8, 2014 in Barcelona for her 7-day Jewels of Europe cruise. This will be Insignia's first cruise after her two-year charter. Nautica will debut on May 16, 2014 in Civitavecchia for her 10-day Cliffs & Coves cruise and Regatta on June 7, 2014 in Vancouver for her 10-day Majesty of Alaska cruise.

Regatta, Insignia and Nautica are acclaimed for their open-seating gourmet dining, luxurious public rooms, spacious accommodations, and warm and attentive service. The 684-guest ships sail to exotic destinations around the world offering experientially rich excursions and extended time in port so guests can truly immerse themselves.

STX Shipbuilding & Offshore creditors agree debt restructuring

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 02 August 2013 02 August 2013

Creditors of the troubled South Korean shipbuilding giant STX Shipbuilding & Offshore have agreed to restructure the company, media reports say.

“Creditors agreed on a debt restructuring of the (STX) group’s shipbuilding unit on July 31, prompting investors to bet on a turnaround,” the Bloomberg news agency reported.

STX Shipbuilding & Offshore is the parent company of STX Europe, the Oslo based company that controls 64% of the shares in STX France and owns in full STX Finland that has shipyards in Turku and Rauma. Both the French and Finnish units are notable builders of cruise and ferry tonnage.

Employers at the ig Turku yard in Finland were relieved about the news, the Turun Sanomat daily said. “It is not good for business if the owner or parent company hovers on the brink of bankruptcy,” Ari Rajamaki, who is in charge of Health & Safety, was quoted by the paper’s online edition as saying.

Jari Aalto, shop steward at the yard said: “It is obvious that customers look at (the yard) with a magnifying glass and certainly ask questions about the (financial) health of the parent when signing contracts.” 

 

The STX conglomerate, with businesses ranging from shipbuilding to components, has been trying to raise 2.5 trillion won ($2.2 billion) by selling stakes after a slump in charter rates and orders for new vessels prompted flagship Pan Ocean to file for court protection in June, Bloombergs reported.

All Leisure group reports deeper loss on extraordinary charges

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 30 July 2013 30 July 2013

All Leisure group, the UK based boutique cruise brand operator, has reported a deepening of loss for the first half of its financial year on the same period in 2012 on a number of extraordinary charges. Excluding these, the loss narrowed slightly, the company said in a statement.

Net loss for six months to 30 April deepened to £13.4 million from £11.2 million year on. However, the latest figure includes restructuring costs related to acquisition of Page & Moy, the tour operator, and relocation of  group head office to new premises.

“Neither of these costs were included in the loss of £11.2m for the six months ended 30 April 2012. On a like-for-like basis the group result has improved to £9.7m loss, reflecting a year-on-year improvement in the Cruise Division,’ the company said.

“This is further improved by net £1.1m if the group's results are assessed prior to the year on year impact of gains and losses on certain derivative contracts which would result in an £8.6m loss,” All Leisure continued.

The improvement in cruise performance is due in no small part to the success of the strategy to de-risk the business. Highlights of the period under review include:

 ·           Improved year-on-year cruise performance on a like-for-like basis;

·           The successful integration of the Tour Operating Division which continues to perform strongly, based on the strength of forward bookings which will convert to revenue and profit in the second half of the year;

·           Expensed £1.3m of a planned £1.5m of integration costs with significant synergistic savings being achieved through the reduction of senior management headcount;

·           Cruise occupancy levels were 76% (2012: 74%);

·           Undertook a substantial, planned dry dock of mv Discovery; and

·           The group has hedged over 95% (2012: 95%) of its foreign currency requirements as well as over 30% (2012: 30%) of its projected fuel requirement.

 Although the first half of 2013 has proved challenging due to a continued tough trading environment, the successful integration of the Tour Operating Division (previously Page & Moy) and subsequent restructuring program have placed the Group in a stronger position to maximise the benefits of  the increase in year-on-year bookings that we are seeing for 2014. We have currently sold 95.6% of forecast escorted tour revenue and 97.8% of forecast cruise revenue for FY13.

Roger Allard, Executive Chairman of All Leisure, said: "It is regrettable that the recent mechanical problems with mv Voyager, tough trading conditions and unfavourable political events in Egypt will impact performance for the second half of 2013. However, despite this, I am extremely pleased to report that we are enjoying the benefits of introducing the Tour Operating Division into the Group, complementing our existing products and creating encouraging cross-selling opportunities.”

“Furthermore, I am excited for the future of the Group following the recent successful integration of Page & Moy and am confident of achieving in the region of £1.5m in full year overhead savings in 2014 following the closure of the Burgess Hill office and rationalisation of senior management within the Group.”

Shares in Norwegian fall sharply after interims

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 29 July 2013 29 July 2013

Shares in Norwegian Cruise Line Holding, parent company of Norwegian Cruise Line and NCL America, fell sharply on Nasdaq in New York where they are listed after the company had operated net loss on significantly higher financing costs in the second quarter, although operating profit continued to rise.

In early trade, the shares fell 3.23 % to $29.97, which valued the company at $6.11 billion.

Norwegian Cruise Line Holding went public at the end of last year and its shares have traded in the range of $24.16 and $32.93 since the floation.