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Carnival suspends dividends

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 31 March 2020 31 March 2020

Carnival Corporation & plc, the world’s largest cruise shipping company, said that its two listed holding companies would suspend dividend payments.

The company said that it has commenced an underwritten public offering of shares of common stock of Carnival Corporation, suspending the payment of dividends on the common stock of Carnival Corporation and the ordinary shares of Carnival plc.

Carnival Corporation is the Panama domiciled and US listed holding company of the group and Carnival plc is domiciled in the UK and listed in London. The two companies trade as a single entity and their boards comprise same members.

Carnival Corporation & plc launches equity and debt issue

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 31 March 2020 31 March 2020

Carnival Corporation & plc, the world's largest cruise shipping company, has unveiled a massive issue of equity and debt in the aftermath of the coronavirus outbreak.

Carnival Corporation, the Panama domiciled and US listed holding company of the group, has commenced an underwritten public offering of $1.25 billion of shares of common stock.

“The Corporation intends to grant the underwriters an option to purchase up to $187.5 million of additional shares. The Corporation expects to use the net proceeds from the offering for general corporate purposes,” the company said in a statement.

The corporation also has commenced private offerings to eligible purchasers of $3 billion aggregate principal amount of first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of senior convertible notes due 2023.

Alternatively, the last-name amount would be up to $2.0125 billion aggregate principal amount if the initial purchasers exercise in full their option to purchase additional convertible notes.

“The Corporation intends to grant the initial purchasers of the Convertible Notes an option to purchase, during a 13-day period beginning on, and including the first day on which the Convertible Notes are issued, up to an additional $262.5 million aggregate principal amount of Convertible Notes,’ the company said.

Each series of notes would be fully and unconditionally guaranteed, jointly and severally, by Carnival plc and certain of the corporation's and Carnival plc's subsidiaries that own or operate the company's vessels and material intellectual property. Carnival plc is the group's UK domiciled and London listed holding company.

“Additionally, the Secured Notes and the related guarantees will be secured by a first-priority lien on the collateral, which includes, without limitation, pledges on the capital stock of each subsidiary guarantor, mortgages on a substantial majority of the vessels and related vessel collateral, material intellectual property and pledges over other vessel-related assets including inventory, computer software and casino equipment,” Carnival said.

Viking to launch Mississippi River cruises, build new purpose-built ship

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 30 March 2020 30 March 2020

Vikingtoday made the highly anticipated announcement that it will further expand its destination-focused travel experiences with the launch of new Mississippi River cruises, honoring a commitment Viking Chairman Torstein Hagen made to loyal past guests to launch the Mississippi product by early April. The company’s first custom vessel, Viking Mississippi, will debut in August 2022 and will sail voyages on the Lower and Upper Mississippi, between New Orleans and St. Paul. Viking’s arrival will bring modern river cruising to the Mississippi and will represent a major commitment to tourism and economic development in many communities along the river. Currently scheduled ports of call on Viking’s new Mississippi River Cruises comprise seven U.S. states: Louisiana (Baton Rouge, Darrow, New Orleans and St. Francisville); Mississippi (Natchez and Vicksburg); Tennessee (Memphis); Missouri (Hannibal, St. Louis); Iowa (Burlington, Dubuque and Davenport); Wisconsin (La Crosse and Red Wing); and Minnesota (St. Paul). Starting today, inaugural sailings of Viking Mississippi’s 2022-2023 season are now available to Viking past guests only. Bookings will open to the general public on April 15, 2020.

“At a time where many of us are at home, looking for inspiration to travel in the future, I am pleased to introduce a new, modern way to explore this great river. We invented the concept of modern river cruising when we got our start 23 years ago – first on the rivers of Russia and then in Europe. Since then, many people have come to appreciate the unique exploration that comes with river cruising – but currently there are very few options to do so on American rivers,” said Torstein Hagen, Chairman of Viking. “Our guests are curious travelers, and they continue to tell us that the Mississippi is the river they most want to sail with us. The Mississippi River is closer to home for many of our guests, and no other waterway has played such an important role in America’s history, commerce and culture.”

Today’s announcement is the most recent milestone as Viking continues to expand its fleet and destination-focused travel offerings. In January 2020 the company unveiled Viking Expeditions, with the first 378-guest purpose-built expedition ship, Viking Octantis, launching in January 2022 on voyages to Antarctica and then North America’s Great Lakes. A second expedition vessel, Viking Polaris, will debut in August 2022, sailing to Antarctica and the Arctic. In the last eight years alone, Viking has introduced more than 60 new river cruise ships and six ocean cruise ships to become the largest small ship cruise line with a current fleet of 79 river and ocean vessels around the world.

Viking Mississippi features

Hosting 386 guests in 193 all outside staterooms, the new state-of-the-art Viking Mississippi is inspired by Viking’s award-winning river and ocean ships and will feature clean Scandinavian design, as well as public spaces that are familiar to guests but that have been reimagined for Mississippi River voyages. Purpose-built for the Mississippi and currently under construction in Louisiana, the five-deck ship’s cutting-edge design, expansive windows and comfortable amenities will make it the largest and most modern cruise ship in the region. Highlights of the new ship include:

– All Outside Staterooms: Guests can choose from an unparalleled seven spacious stateroom categories that range from 268 sq. ft to 1,024 sq. ft: Veranda, French Balcony, Deluxe Veranda, Penthouse Veranda, Penthouse Jr. Suite, Terrace Suite and Explorer Suite. All staterooms feature a private veranda or French balcony, king-size bed with luxury linens, large flat-screen interactive TV, mini-bar, large glass-enclosed shower, heated bathroom floor and 24-hour room service.

Viking Mississippi Explorer Suite (Photo credit: Viking)

– Viking Suites: Viking Mississippi will have some of the largest true suites on the river, with every suite featuring two rooms and a full-size veranda off the spacious sitting room. Guests in Penthouse Jr. Suites (400 sq. ft.) and Terrace Suites (425 sq. ft.) receive early stateroom access; expanded double-sink bathroom; mini-bar with alcoholic beverages, soft drinks, water and snacks replenished daily; welcome champagne; and laundry, pressing and shoe shine services. Guests in the expansive Explorer Suites (657 sq. ft. to 1,024 sq. ft) also receive a wraparound veranda and complimentary Silver Spirits Beverage Package.
– Explorers’ Lounge & The Bow: Familiar to Viking’s ocean guests as one of the most popular onboard public spaces, Viking Mississippi will also feature an Explorers’ Lounge near the bow of the ship. The sun-filled, two-story Explorers’ Lounge has floor-to-ceiling windows that open to The Bow, a unique outdoor seating area at the front of the ship where guests can relax and enjoy ever-changing riverside views.
– River Café: From American classics to Mamsen’s Norwegian specialties, this indoor/outdoor dining venue on the top deck will offer alternative restaurant dining in a casual al fresco setting.
– Aquavit Terrace: A public space beloved by many of Viking’s ocean and river guests, Viking Mississippi will also feature a revolutionary Aquavit Terrace on the top deck, providing a casual dining space ideal for an American barbecue experience. Combined with the River Café, the Aquavit Terrace will provide the most al fresco dining on the Mississippi.
– Sun Terrace with Infinity Plunge Pool: Similar to Viking’s ocean ships, Viking Mississippi will have a glass-backed pool experience at the aft, allowing guests to take a dip while fully surrounded by their destination.
– The Living Room: Clean Scandinavian design paired with American influences, the Living Room on Deck 1 is designed for socializing, relaxing and entertainment. Nearby, the quiet corner of The Library, is a perfect place to discover a new book.
– The Restaurant: This main dining venue on Deck 1 will serve daily-changing menus featuring delicious regional cuisine and always available classics prepared with fresh, local ingredients.
– Full 360-Degree Promenade Deck: Guests can stroll the entire ship outside on Deck 1, stretching their legs while viewing scenic landscape and regional wildlife.
– Enrichment On Board and On Shore: Connecting guests to their destinations through authentic experiences is central to Viking creating “the thinking person’s cruise.” A focus on cultural enrichment on board Viking Mississippi means that guests will enjoy Destination Performances that represent the most iconic music of the region—as well as Guest Lecturers that shed light on the region’s art, architecture, history, culture, natural world and more. And only The Viking Way of exploration provides guests with itineraries that feature Privileged Access®, Local Life and Working World experiences, opening doors to places otherwise difficult to visit. On Viking’s Mississippi River itineraries, guests may choose to take a guided kayaking trip in the Louisiana bayou; visit a working farm in Quad Cities; or immerse themselves in Cajun culture during a Privileged Access excursion to the Rural Life Museum of Louisiana State University.
– Sustainable Features: Solar panels, LED lighting, floor-to-ceiling windows that maximize natural light and an energy-efficient hybrid propulsion system will make Viking Mississippi the most environmentally friendly passenger ship on the Mississippi River.
– Viking Inclusive Value: Every Mississippi River cruise fare includes everything guests need, with no surprises or hidden fees. Cruise fares include one complimentary shore excursion in each port of call, all onboard meals, and all port charges and government taxes. Guests also enjoy many complimentary amenities as part of their fare, including beer and wine with lunch and dinner service, lectures, alternative dining at no extra charge, self-service launderettes, 24-hour room service and free Wi-Fi.

2022-2023 Viking Mississippi inaugural voyages

– America’s Heartland (8 days; St. Louis to St. Paul) – From pristine farms nestled in rolling terrain to steep bluff rising from tributaries dotted with wooded islands, the Upper Mississippi offers a rich tapestry of beauty upon every turn of the river. This journey introduces you to the unforgettable experience of the locks and dams that control the flow of the heartland rivers. Hear stories of settlers migrating west; learn about Lewis & Clark, Mark Twain, John Deere and the Amish and Norwegian migrations; experience the regional music like polka and Norwegian folk; and taste reginal cuisine showcasing local beer, produce and Wisconsin cheese.
– Heart of the Delta (8 days; New Orleans to Memphis) – This journey on the Lower Mississippi is infused with American history, culture and heritage. Tour the area where the migrating French and Acadians settled; immerse yourself in the culture and lessons from the American Civil Rights Movement; discover the music of the South – jazz, blues and gospel; and experience the life and food culture of the south, from Cajun and Creole to the famed “dry” Memphis BBQ.
– Southern Celebration (8 days; New Orleans–Vicksburg–New Orleans) – On this exploration of the Lower Mississippi, visit the historic homes of Louisiana and Mississippi; learn about Civil War history, touring sites like Vicksburg National Military Park; and discover the excitement and unique flavors of New Orleans and Baton Rouge.
– America’s Great River (15 days; New Orleans to St. Paul) – Experience nearly the entire length of the Mississippi River on this incredible journey from the Gulf of Mexico to the northernmost reaches of the U.S. Relax and enjoy the variety of scenery, foliage and wildlife on this leisurely voyage. Enjoy southern charm and beautifully preserved homes in Natchez; retrace the steps of Civil Rights leaders in Memphis; ascend the Gateway Arch in St. Louis; and visit “The Norwegian Valley” in La Crosse.

 

P&O Cruises, Meyer Werft in talks about completion of Iona

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 30 March 2020 30 March 2020

P&O Cruises and Meyer Werft are in talks regarding the completion of the 185,000 gross ton newbuilding Iona, after the German shipbuilder last week said work on the ship would not proceed as planned because of the coronavirus outbreak.

P&O Cruises president Paul Ludlow said in a statement: “We are working with the team at the shipyard to see exactly how this will impact upon Iona’s delivery.”

“We are all so sorry for the disappointment this will cause to everyone and particularly those guests who had booked Iona’s maiden voyage.”

All guests with a holiday booked up to and including May 15 this year will automatically receive a future cruise credit of 125%.

“Thank you to all our guests who have taken advantage of the future cruise credits and re-booked with us – we really appreciate the loyalty they have shown and we cannot wait to welcome them back on board,” Ludlow stated.