Debt free Fred. Olsen Cruise Lines treble third quarter profit
- Details
- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 30 October 2015 30 October 2015
Fred. Olsen Cruise Lines, the desinational UK based operator of four medium sized ships, has staged an almost threefold profit growth in the third quarter and the company is now debt free, said Ganger Rolf, one of the two listed Fred. Olsen group companies that owns the cruise line.
Net profit in the third quarter of this year rose to NOK62 million from NOK22 million in the same period a year earlier. Operating result (EBITA) improved to NOK185 million from NOK85 million.
For the first nine months of the year, the company whose ships have a total capacity of 3,700 lower berths, reported a net profit of NOK71 million, while a year earlier it had suffered a loss of NOK29 million. EBITDA rose to NOK302 million from NOK108 million, while revenues rose to NOK1.66 billion from NOK1.29 billion.
Fred. Olsen Cruise Lines, which is based in Ipswich in the UK and jointly owned by Ganger Rolf ASA and Bonheur ASA in Norway, carried no dent in its balance sheet at the end of September, while a year earlier, its debt had amounted to NOK419 million.
At the same time, equity in the company rose to NOK1.31 billion from NOK419 million, figures released by Ganger Rolf show.
Carnival Maritime fully operational: Highest safety standards with new marine operations unit of the Costa Group
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 28 October 2015 28 October 2015
The Costa Group implements digital support, surveillance and planning of all technical and nautical aspects of the 25 vessels of Costa Crociere, Costa Asia and AIDA in real time. On the occasion of the new marine service unit becoming fully operational in Hamburg, Carnival Maritime today invited journalists and stakeholders to have a glimpse behind the scenes and granted insights into operations and risk & safety management. "By founding Carnival Maritime, we invested in the most elaborated technologies to create a Marine Operations Unit that supports our captains the best possible way," explained Michael Thamm, CEO of the Costa Group.
With fully integrated, large fleet teams, Carnival Maritime improves the communication between ship and shore significantly. Among other things, the marine service unit is responsible for ship building, maintenance and refurbishment. Additionally, it takes care of trainings, route planning, technical procurement, medical services, support of the nautical and technical staff on board and auditing of the vessels with regard to safety, danger prevention and staff. The new corporate division is located in Hamburg and employs 150 specialists.
Digital control centre on duty 24/7
The centrepiece of Carnival Maritime is the fleet operation centre, FOC. All data come together here displayed on numerous monitors. In the event of safety concerns, the nautical officers on duty support the ships in risk and crisis management and in optimizing the route planning. The FOC operates 24 hours daily. 14 officers with professional experience run the safety centre in shift operation. If required, further departments of Carnival Maritime are consulted like security, route planning or medical. "It is our goal to pursue a ‚zero-incident‘-policy. Benchmark is the aviation industry," says Jens Lassen, Executive Vice President of Carnival Maritime.
Not only safety - the environment benefits, too
By digital control, potentials for optimisation regarding fuel and energy consumption as well as water and waste management can be leveraged. A significant amount of fuel can be saved when using the motor in optimal condition is only one of many examples. Technical surveillance and analysis combined with best practice experiences offer numerous approaches to develop innovative environmental and efficiency projects – for instance for the fresh water supply system, the wastewater treatment and waste management.
Hamburg offers many advantages
Carnival Maritime chose Hamburg as business location and important European harbour. "The city plays a key role within the maritime sector and therefore offers a well-developed infrastructure and a large talent pool of highly skilled professionals," explains Jens Lassen. "For us, an international crew with an excellent technical expertise and a corporate culture where the individual takes responsibility and an innovative approach to his or hers duties, are important elements of a safety culture which we want to achieve group wide within the company," Lassen continues. Also an important factor: the close proximity to partners in the marine industry and universities.
Carnival Cruise Line names two ships to Chinese market
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 28 October 2015 28 October 2015
Carnival Cruise Line, the largest brand under Carnival Corporation & plc, has announced an initial commitment of two ships to the China market beginning with Carnival Miracle in spring 2017 followed by Carnival Splendor in spring 2018. Both ships will be based in China year round.
Carnival Miracle and Carnival Splendor will offer the memorable, high quality vacation experience Carnival is known for featuring exceptional service and hospitality in a fun and friendly atmosphere. "Carnival is the world's most popular cruise line and our style of cruising appeals to guests of all ages and particularly families," said Christine Duffy, president of Carnival Cruise Line. "We attract more than 4.5 million guests a year and, as the family cruise leader, we also carry more than 700,000 children each year. Multi-generational families also choose to vacation with Carnival more than any other cruise brand. We look forward to bringing our one-of-a-kind, exceptionally popular cruise experience to the Chinese market."
Duffy also noted that Carnival's highly differentiated cruise experience offers a very interactive and participatory style of vacation that brings together the guests and well-trained and motivated onboard team members. "The team brings this experience to life for our guests on every cruise with a high level of respect, service and hospitality. We know this will resonate very well with our Chinese guests and allow us to exceed their expectations," Duffy stated.
Carnival is the worldwide leader in providing cruises of three to five days and this extensive experience in shorter duration cruises will be invaluable in providing Chinese guests with a truly memorable vacation experience. Specific details on the company's China itineraries will be announced at a later time.
Carnival Miracle is a notably spacious ship given its size and more limited guest capacity (2,124 guests) and has a guest to crew ratio of nearly two to one. This allows the ship to uniquely offer outstanding guest service in a very spacious and comfortable environment. The ship offers a variety of popular features including more than 60 percent of accommodations featuring a private balcony.
There are also four swimming pools with a magrodome over the main pool area which provides excellent views and an expansive outdoor area to enjoy a wide variety of activities and entertainment in all weather conditions. Carnival Miracle's two promenade decks offer multiple types of locations for gathering with friends and family, playing games or enjoying a host of other exciting activities and entertainment options.
Extensive enhancements were added earlier this year with the addition of the RedFrog Pub which features a uniquely Caribbean atmosphere with music and entertainment options from this popular tropical region. The Alchemy Bar was added, as well, and skilled bartenders create custom drinks with unique fresh ingredients based on guests' individual tastes and preferences.
Carnival Miracle offers multiple dedicated facilities for children, including an expansive water park. The highly trained staff ensure that the younger cruisers are well cared for and entertained with fun activities throughout the cruise. For the adults, Serenity is a private and comfortable outdoor area restricted to guests age 18 and older. The ship also features an outstanding steakhouse, offering exceptional cuts of dry aged beef and top quality seafood, along with spectacular views. Several areas of the ship, including the casino, shopping and dining offerings will be enhanced prior to the start of China service to cater to Asian tastes.
Carnival Splendor, which enters the China market in 2018, is a larger vessel which carries just over 3,000 passengers and boasts a wide variety of features including an array of outstanding dining, entertainment and other guest-pleasing options. That ship also has four swimming pools, one of which can be covered by a glass magrodome, seven whirlpools, a Serenity area and a variety of dedicated facilities for children in different age groups.
Carnival will be establishing operations in China in partnership with sister company Costa Asia, which has operated in the Chinese market for the past nine years. "Given the combined experience of Costa Asia, along with other sister companies either already in the market, such as Princess Cruises, or entering the market, such as AIDA, the collective scale of Carnival Corporation's Asia operations is unparalleled and enables us to tap into an immense network of resources and expertise as we launch our China program," said Duffy.
Reservations for voyages on Carnival Miracle are expected to open in 2016.
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