RCCL reports full year 2011 net income rise to $607.4 million
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- Category: Top Headlines Top Headlines
- Published: 02 February 2012 02 February 2012
Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, reported 2011 full year net income of $607.4 million, or $2.77 per share, versus $515.7 million, or $2.37 per share, in 2011. Fourth quarter 2011 net income was $36.6 million, or $0.17 per share, versus $31.9 million, or $0.15 per share, in 2010.
Analysts had forecast on average earnings per share (eps) of $0.15 for the final quarter and $2.75 for the full year.
For the full year, net yields increased 2.4% on a Constant-Currency basis (+4.1% As-Reported.) Net Cruise Costs ("NCC") excluding fuel increased 1.3% on a Constant-Currency basis (+2.3% As-Reported.). Final quarter Net Yields increased 3.5% on a Constant-Currency basis (+3.2% As-Reported.) Net Cruise Costs per APCD ("NCC") excluding fuel increased 3.7% on a Constant-Currency basis (+3.6% As-Reported.)
“The year ended on a strong note with good bookings and cost control more than compensating for the increased cost of fuel and foreign exchange impacts,” the company said in a statement.
Carnival in Costa Concordia cost assessment
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 31 January 2012 31 January 2012
Carnival Corp & plc, parent company of Costa Crociere whose 114,500 gross ton Costa Concordia ran aground on the coast of Italy on 13 January, has calculated costs of the accident.
The company said in a filing with the New York Stock Exchange that the 2006 built ship had a book value of $490 million at the end of last year. It is insured for $510M, but deductibles should amount to about $30M. In addition, Carenival expects other costs related to the incident amount to $30-$40 million.
Carnival also reiterated an earlier assessment that the 2,978 passenger capacity ship’s absence from service would reduce its net earnings by $85-$95 million this financial year that ends 30 November.
CLIA launches safety review
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 30 January 2012 30 January 2012
Cruise Lines International Association (CLIA ) says it will launch an operational safety review in the wake of Costa Concordia's grounding on 13 January on the west coast of Italy.
"In response to the Concordia incident and as part of the industry’s continuous efforts to review and improve safety measures, the Cruise Lines International Association, Inc. (CLIA), speaking on behalf of the global cruise lines industry, today announced the launch of a Cruise Industry Operational Safety Review. The Review will include a comprehensive assessment of the critical human factors and operational aspects of maritime safety. As best practices are identified, they will be shared among CLIA members and any appropriate recommendations will be shared with the IMO. Recommendations will be made on an ongoing basis," the organisation said in a statement.
Key components of the Review include:
An internal review by CLIA members of their own operational safety practices and procedures concerning issues of navigation, evacuation, emergency training, and related practices and procedures.
Consultation with independent external experts.
Identification and sharing of industry best practices and policies, as well as possible recommendations to the IMO for substantive regulatory changes to further improve the industry’s operational safety.
Collaboration with the IMO, governments and regulatory bodies to implement any necessary regulatory changes.
"While the cruise industry has an outstanding safety record, CLIA is fully committed to understanding the factors that contributed to the Concordia incident and is proactively responding to all maritime safety issues. The Cruise Industry Operational Safety Review will enable the industry to do so in a meaningful and expedited manner," CLIA said.
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