Norwegian Cruise Line reports 24% stronger ticket pricing for first quarter of 2012
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 30 April 2012 30 April 2012
Norwegian Cruise Line (NCL Corporation Ltd., "Norwegian" or "the Company") today reported results for the quarter ended March 31, 2012.
Operating income for the first quarter grew 23.8% to $46.4 million, with Adjusted EBITDA posting a 10.3% increase to $93.5 million, from strong revenue performance and the benefits of ongoing business improvement initiatives. Net Revenue grew 4.6% in the quarter from an increase in Net Yield and a 2.3% increase in Capacity Days. Net Yield increased 2.2%, or 2.3% on a Constant Currency basis, as a result of higher average ticket pricing across the fleet coupled with increased onboard and other revenue per Capacity Day, particularly in tour and gaming operations.
Net Cruise Cost per Capacity Day increased slightly by 0.6%, or 0.7% on a Constant Currency basis, as the timing of repairs and maintenance expenses coupled with benefits from business initiatives and improved efficiencies offset a 15% increase in the per metric ton cost of fuel to $598 from $520 in the prior year. Excluding fuel expense, Net Cruise Cost per Capacity day decreased 1.9%, or 1.8% on a Constant Currency basis. "It is always rewarding to report strong top-to-bottom results," said Kevin Sheehan, President and CEO of Norwegian Cruise Line. "Revenue growth was very positive, considering the impact of redeploying Norwegian Jade in late 2011 due to geopolitical disruptions in Egypt and the surrounding region," continued Sheehan.
Interest expense, net decreased 3.6% mainly due to lower average debt balances in the period. During the quarter the Company took advantage of favorable market conditions and issued $100 million in senior unsecured notes which were an add-on to the existing notes due in 2018. The net proceeds were used to repay portions of certain outstanding revolving credit facilities and for general corporate purposes.
The Company posted net income of $3.3 million on revenue of $515.4 million versus a loss of $(7.9) million on revenue of $495.5 million in 2011.
Australian cruise market grew 34% in 2011, exceeds 23% annual average 2006-11
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 30 April 2012 30 April 2012
Australian cruise marke continues to grow at a rapid rate, with 34% increase recorded in 2011 on the previous year, International Cruise Council Australia said in a statement, adding that the volume had nearly tripled in five years.
"The extraordinary growth of the Australian cruise industry has been highlighted in a new report which reveals that the number of Australians taking a cruise holiday surged by a record 34% last year to reach an all- time high of 623,294. Compiled by the International Cruise Council Australasia, the 2011 Australian Cruise Industry Report found that the growth in Australian cruise passenger numbers in 2011 outstripped all other major international markets, with the US recording a 4 %t rise in passengers and the UK reporting a 5% increase," the report said.
Released at an industry function in Sydney today, the report also reveals that 40% of the nation’s cruise passengers live in New South Wales with Queensland accounting for 24%, Victoria 16% and Western Australia 9%. Now in its 10th year, the Australian Cruise Industry Report looks at key trends drawn from data supplied by ICCA member cruise lines carrying Australian passengers around the world.
Launching the 2011 report, ICCA Chairman Gavin Smith said the latest figures cemented cruising’s status as the shining star of the tourism industry, with the Australian cruise market leading the world in terms of growth. “While other industries have waivered in these tough economic times, cruising has continued to expand, with its popularity in Australia growing significantly year-on-year,” Smith said.
He attributed the growth to the broadening range of cruise ships available locally and overseas, as well as increasing awareness of the great value that cruise holidays offer, with all-inclusive fares covering accommodation, transport and meals. “Every year we are seeing more cruise ships based in Australia and more ships visiting our shores, taking the profile of cruising to new heights and prompting an unprecedented number of Australians to take to the seas for their holidays.”
Key findings of the 2011 Cruise Industry Report include:
• Australian cruise passenger numbers rose 34% from 466,672 in 2010 to 623,294 in 2011
• Local cruising to Australia, New Zealand and the South Pacific accounted for 70% of Australian cruise passenger numbers in 2011
• The South Pacific retained its position as the most popular destination for Australians, attracting 37% of passengers (230,321) in 2011
• The number of Australians cruising to New Zealand surged by 80% in 2011 to reach 84,013, reflecting an increase in the number of transTasman cruises
• River cruising passenger numbers grew by 22% to almost 35,000, accounting for 6% of Australian cruise passenger numbers
• The growth in passenger numbers saw a rise in estimated sea days (ie total days spent at sea by
Australian holidaymakers) to almost 6.5 million – up 36% on 2010
• 2.7 % of the Australian population took a cruise in 2011, placing Australia second in the world in
terms of market penetration
• Cruise passenger numbers rose by more than 23% annually between 2006 and 2011.
Oceania Cruises takes delivery of Riviera
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 28 April 2012 28 April 2012
"The handover of Riviera represents a milestone achievement thanks to the loyalty of our guests, our strong partnership with the travel agent community and the dedication of every member of the Oceania Cruises family," stated Kunal S. Kamlani, the line's president.
The newest addition to Oceania Cruises' expanding fleet of mid-sized ships, the 66,172-ton Riviera is purpose-built to engage and inspire epicureans with 10 dining venues, including Jacques, the namesake restaurant of the world-renowned Master Chef Jacques Pépin. The ship also boasts a Bon Appétit Culinary Center for hands-on learning and La Reserve by Wine Spectator, a professional facility for wine tastings and pairing dinners.
In just 14 days, on May 11 in Barcelona, Riviera will be officially christened, presided over by godmother Cat Cora, a master chef, restaurateur, humanitarian, author, and co-host of Bravo's new "Around the World in 80 Plates." Riviera departs on her 10-day maiden voyage from Venice to Athens on May 16, 2012. From May 16 through November 29, 2012, she will offer a total of 20 Mediterranean voyages, calling at ports in France, Italy, Greece, Spain, Portugal and Turkey as well as Israel, Croatia, Cyprus, Montenegro, Morocco and Monaco, with maiden calls in Cephalonia (Argostoli), Motril (Granada) and La Palma, Canary Islands.
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