Australian source market grew 11% to 694,000 passengers in 2012
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 09 May 2013 09 May 2013
CLIA Australasia has published its 2012 Australian Cruise Industry Report, whose main findings include:
Australian cruise passenger numbers surged by 11% to reach a record 694,062 in 2012, compared to 623,294 in 2011
Australia is the only source market in the world, other than North America, to have reached a 3% market penetration rate
Australia’s share of the global cruise industry is now 3.4%
The most popular destination for Australian passengers was the South Pacific which accounted for 36.4% of the market in 2012 (252,555 passengers)
Europe is now the biggest fly-cruise market for Australians with passenger numbers rising 26% to 57,719 (8.3% of the market)
The Caribbean achieved the highest growth rate with a 36% rise to 17,316 Australian passengers
River cruising numbers continue to expand with 12% more passengers (39,275) opting for this niche holiday experience
Shorter cruises of 1-4 days experienced the greatest growth in 2012 rising 38%, with 76,719 Australians opting for a short break cruise
The first breakdown of cruise passenger age reveals almost half are under the age of 50, a quarter are aged under 40 and one-third are over 61 years
An insight into the passenger mix onboard roundtrip cruises from Australia shows Australians accounted for 84% of passengers with international travellers representing 16% or close to 100,000 passengers
Norwegian sees $2.2 billion capex on newbuildings to 2015
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 06 May 2013 06 May 2013
Norwegian Cruise Line Holdings, the listed parent company says that it expects to spend $2.23 billion in capital expendidure related to its newbuildings to the end of 2015.
Future capital commitments consist of contracted commitments, including ship construction contracts and future expected capital expenditures for business enhancements, the company said in a statement. As of March 31, 2013, anticipated capital expenditures for ship construction were $681.1 million for the remainder of 2013, $755.6 million for 2014 and $788.5 million for 2015, of which export credit financing is in place of $572.8 million for 2013, $657.1 million for 2014 and $621.1 million for 2015, based on the euro/U.S. dollar exchange rate as of March 31, 2013
In addition, as of March 31, 2013, anticipated capital expenditures for business enhancements were $57.2 million for the remainder of 2013, and $77 million for each of the years 2014 and 2015, the company said.
Norwegian reports $96.4 million first quarter net loss on financial items
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 06 May 2013 06 May 2013
Norwegian Cruise Line Holdings, the listed parent company of Norwegian Cruise, has reported loss for the first quarter of the year due to financial items.
The company booked $110.4 million in expenses related to debt prepayments funded by the aggregate net proceeds from the IPO and the Notes Offering as well as non-cash compensation and other expenses related to the Company's IPO. On a GAAP basis, net loss and diluted EPS were $96.4 million and $0.49, respectively
Excluding these items, adjusted net income improved to $12.9 million with adjusted EPS of $0.06 from $3.3 million and $0.02 in 2012 respectively. Net yield increased 3.3% on both an as reported and constant currency basis, the company said in a statement.
"We are excited to announce another quarter of strong results, especially in light of this being our first quarter as a publicly traded company," said Kevin Sheehan, Norwegian Cruise Line's President and CEO. "These strong results bring us to nineteen consecutive quarters of year over year Adjusted EBITDA growth."
On January 24, 2013, the Company closed on its successful IPO at a price of $19.00 per share. In addition, on February 6, 2013, the Company issued $300 million of 5.00% senior unsecured notes. The aggregate net proceeds of the IPO and the Notes Offering were used to prepay certain credit facilities, prepay amounts due pursuant to the Norwegian Sky Purchase Agreement, redeem the full amount of the outstanding $450 million 11.75% senior secured notes due 2016, redeem a portion of the outstanding $350 million 9.5% senior unsecured notes due 2018 and for general corporate purposes.
Interest expense, net for the period was $127.7 million and included $90.5 million in charges related to the prepayment of certain credit facilities and the redemption of certain of the Company's senior notes in connection with proceeds from both the Company's IPO and Notes Offering
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