Top Headlines

Fincantieri will build fourth ship for Virgin Voyages

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 31 October 2018 31 October 2018

Fincantieri and global travel brand Virgin Voyages, have signed a contract valued at approximately 700 million euros for the construction of a fourth cruise ship, which will be delivered at the end of 2023.

The new vessel will be a sister ship of the three ships on order with Fincantieri. Construction is underway at the Sestri Ponente shipyard (Genoa) and the first three ships will enter Virgin Voyage’s fleet respectively in 2020, 2021 and 2022.

The fourth vessel will be approximately 110,000 gross tons, 278 meters long and 38 meters wide. The ship will feature over 1,400 guest cabins designed to host more than 2,770 passengers, accompanied by 1,100 crew members on board to deliver the famed Virgin service.

The Virgin Voyages fleet will stand out for original design and craftsmanship. Highlights include highly innovative design solutions, specifically to address energy recovery and the reduction of the overall environmental impact. For example, ships will be equipped with an energy production system of approximately 1 MW, which uses the diesel engine’s waste heat. The result is a system that distinguishes Virgin Voyages as they aim to create one of the cleanest fleets at sea.

RCCL sees 2019 even stronger than record breaking 2018

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 25 October 2018 25 October 2018

Royal Caribbean Cruises, Ltd (RCCL), the world’s second largest cruise shipping group, is expecting 2019 to become even better for the company than this year, which should be record breaking in terms of financial performance.

"While 2018 is proving to be another record year, 2019 is shaping up to be even better," said Richard D. Fain, chairman and CEO.

"I can't recall ever starting a new year with such an exciting blueprint. Our brands are strong; our new ships are awesome; our existing ship upgrades are powerful; our tech is exciting; our people are psyched; and our other new products are opening new horizons,” he said in a statement

The company is experiencing strong early booking trends for 2019. Booked load factors and rates are higher than same time last year across all core products while the booking window has continued to extend.

The market response to Symphony of the Seas, Azamara Pursuit and Celebrity Edge has been excellent. While these ships are being introduced this year, 2019 will see the benefit of their full year of operations in various markets as they sail in both North America and Europe.

These three vessels together with Spectrum of the Seas, which will be introduced in June 2019 in Shanghai, are supporting a solid outlook for 2019. While still early in the booking cycle, the view for 2019 is encouraging and the company expects another year of solid yield and earnings growth.

Regarding Silversea's consolidation, as mentioned above, while the bottom line impact in the near term is expected to be immaterial, we expect higher average yields for the company and higher costs per berth.

RCCL lowers 2018 EPS guidance ceiling by 5 cents, raises floor by same amount

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 25 October 2018 25 October 2018

Royal Caribbean Cruises, Ltd (RCCL), the world’s second largest cruise shipping group, has raised the floor of its 2018 earnings per share (EPS) guidance by $0.05 and lowered the ceiling by the same amount, information released by the company shows.

In its 2Q18 earnings release, RCCL said adjusted EPS for the full year are expected to be in the range of $8.70 to $8.90 per share. Today it narrow the guidance to the range of $8.75 to $8.85 per share. “This range includes a negative impact of approximately $0.10 per share from currency and fuel and also includes Silversea's operations, RCCL said.

Net yields are expected to increase 4.0% to 4.5% in constant currency and approximately 4.5% as reported. These metrics include approximately 80 basis points from Silversea's operations.

Net cruise costs (NCC) excluding fuel per available passenger capacity day (APCD) are expected to increase by approximately 4.5% in constant currency and by 4.5% to 5.0% as reported. These metrics include approximately 140 basis points from Silversea's operations.

RCCL third quarter net income jumps to $810.4 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 25 October 2018 25 October 2018

Royal Caribbean Cruises, Ltd (RCCL), the world’s second largest cruise shipping group, has reported a rise in net income to $810.4 million in the third quarter compared to $752.8 million in the same period last year.

“Adjusted net income was $836.3 million or $3.98 per share, beating the mid-point of the guidance by $0.05 per share. Last year, both US GAAP and Adjusted Net Income were $752.8 million or $3.49 per share,” RCCL said in a statement. Revenues increased to $2.80 billion from $2.57 billion and operating income to $799.3 million from $752.8 million.

In the January-September period, net income rose to $1.49 billion from $1.34 billion on revenues of $7.16 billion, up from $6.77 billion year on. Opewraying income rose to $1.53 billion from $1.44 billion.

In the third quarter, gross yields rose 1.9% and net yields by 2.6% in constant currency, exceeding prior guidance due to strong close-in demand for our core products and better onboard revenues.

Gross cruise costs per available passenger capacity day (APCD) increased 0.2% in constant currency. Net cruise costs (NCC) excluding Fuel per APCD were down 0.1% in constant currency, slightly higher than guidance, driven by timing.

Bunker pricing net of hedging for the third quarter was $538.57 per metric ton and consumption was 338,700 metric ton, the company said in a statement.

Hurtigruten contracts third hybrid powered expedition ship at Kleven

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 25 October 2018 25 October 2018

Hurtigruten, the Norwegian expedition cruise specialist, said it has contracted a groundbreaking hybrid powered expedition cruise ship with the Kleven shipyard in Norway.

The new ship’s design, construction, engineering and advanced technology would be based on Hurtigruten’s two next-generation ships, Roald Amundsen and Fridtjof Nansen, currently under construction at the Kleven shipyard in Norway. It has now signed a memorandum of understanding to build a third ship with the same yard.

“We are thrilled to introduce yet another revolutionary hybrid powered expedition ship. This groundbreaking vessel will take our guests to some of the most spectacular areas of our planet, in a more sustainable and environmentally-friendly way than ever seen before, Hurtigruten CEO Daniel Skjeldam said in a statement.

The new hybrid powered expedition ship, accommodating 530 guests, will be custom built for some of the most extreme conditions on the planet, with specially designed, ice-strengthened hull.

“These are greener, more advanced cruise ships than the world has ever seen – and ships that will raise standards for the whole industry to follow, as we enter a new era of expedition cruising driven by sustainability,” Skjeldam said.

The new ship is expected to be delivered in the second quarter of 2021. Among the innovative green features on the new ship, are substantially larger battery packs to make expedition voyages even more sustainable.

“We are grateful for the confidence Hurtigruten shows us by signing a memorandum of understanding for a third, advanced expedition vessel with green technology combined with premium guest comfort. This is a confirmation of our unique skills and facilities, “ Kleven CEO Olav Nakken said in the statement.

Celebrating its 125th anniversary in 2018, Hurtigruten is the world’s largest expedition cruise operator with a fleet of 17 ships in service.