RCCL orders fourth Quantum class unit; to be delivered in 2019
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 08 May 2015 08 May 2015
Royal Caribbean Cruises Ltd. (RCCL), the world's second largest cruise shipping group, said it has entered into an agreement with Meyer Werft in Germany to order a fourth Quantum-class ship, which will be delivered in 2019.
Final contract is subject to e.g. financing.
“Today’s announcement is a reflection of the success of the first two Quantum-class ships,” said Richard D. Fain, Chairman and CEO, Royal Caribbean Cruises Ltd, said in a statement. “We have received a remarkable response from travel agent partners and travelers, and are thrilled that we’ll be able to deliver another revolutionary ship with our partners at Meyer Werft.”
“The fourth Quantum class vessel will be a trailblazer in smart-ship design and vacation innovation,” said Michael Bayley, President and CEO, Royal Caribbean International. “Royal Caribbean International is synonymous with adventure, and the icons and amenities on this ship will continue to challenge and expand guests’ expectations of the cruise experience.”
Based upon current ship orders, projected capital expenditures for full year 2015, 2016, 2017, 2018 and 2019 are $1.6 billion, $2.3 billion, $0.4 billion, $2.4 billion and $1.3 billion, respectively.
Capacity increases for 2015, 2016, 2017, 2018 and 2019 are expected to be 5.5%, 6.3%, 3.1%, 3.9% and 6.5%, respectively. These figures do not include potential ship sales or additions that the company may elect to make in the future.
Norwegian raises second quarter net yield guidance
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 07 May 2015 07 May 2015
Norwegian Cruise Line Holdings, the world's third largest cruise shipping group, has raised its guidance for adjusted net yield increase in the second quarter.
The company now forecasts adjusted net yields to rise by 17.5% to 18.5% in the second quarter compared to an earlier fotrecast of a 17.0% to 18.0% rise on as-reported basis
“We are raising the midpoint of our guidance to take into account the better than anticipated interest expense and net yield performance in the first quarter,” said Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings Ltd, in a statement.
At the same time, Norwegian lowered its adjusted net cruise cost rise forecast to 23.0% to 24.0% from 27.0% to 28.0% earlier. Forecast for adjusted earnings per share was increased to $0.70 to $0.75 in the second quarter from an earlier forecast of a $0.20 to $0.24 increase.
“We are maintaining our net yield and net cruise cost guidance for the year as benefits from our incremental revenue synergies offset the anticipated foreign currency headwinds and the revenue impact from the unscheduled dry-dock of Norwegian Star. Further, the reinvestment of $20 million into demand-driving initiatives is offset by incremental cost synergies identified in the quarter,” continued Beck.
Norwegian guides full year adjusted net yields to rise by 17.0% and adjusted net cruise costs by 23.5% on as-reported basis. Earnings per share are forecast to reach $2.70 to $2.90, with no change to the previous forecast.
Norwegian almost doubles 2015 Prestige acquisition synergy forecast
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 07 May 2015 07 May 2015
Norwegian Cruise Line Holdings, the world's third largest cruise shipping company, has increased its forecast for the synergy effects the acquisition of Prestige Cruise Holdings would generate this year to $75 million from $40 million.
"As a result of continued integration and synergy identification efforts, the Company has now identified $75 million in synergies for full year 2015, comprised of $30 million in revenue and $45 million in cost synergies," the company said in a statement.
"The company had previously communicated the identification of $15 million in revenue and $25 million in cost synergies for a total of $40 million for 2015. Of the incremental synergies, the Company is earmarking $20 million for reinvestment directed to business initiatives to further drive demand to the Company’s three brands, resulting in net synergies of $55 million for 2015," Norwegian said.
“The identification of additional synergies has come as the result of a truly collaborative effort between our dedicated integration team and all areas of the organisation,” said Frank Del Rio, president and chief executive officer, in the statement.
“Tasked with a mandate that synergies have a neutral or positive impact on the guest experience, the organisation has come together to identify meaningful incremental synergies. The net synergies will have an immediate impact on the bottom line in 2015, while amounts reinvested in our business initiatives will benefit our strategies for earnings growth in 2016 and beyond,” continued Del Rio.
For the full year 2016, the Company has identified synergies of $115 million which includes the annualization of initiatives introduced in 2015 coupled with new initiatives. Of these, the Company plans to reinvest $40 million, resulting in net synergies for the year of $75 million.
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