More newbuilds for American Cruise Lines

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 03 April 2019 03 April 2019

American Cruise Lines, the largest coastal and river cruise operator in the U.S., continues to accelerate its new build program across its diverse fleet – adding new ships to its new Modern Riverboat Series as well as its fleet of new coastal ships and Victorian-style paddlewheelers. American’s aggressive building program has expanded exponentially in the past two years; introducing a new ship in 2017 and two new ships in 2018. The line has no plans to slow down, as American’s latest new ship will go into service this summer, and the line has two more new builds coming in both 2020 and 2021.

In August 2019, American Harmony, the second of five ships in American’s Modern Riverboat Series, will begin service on the Mississippi, bringing American’s fleet of U.S. built ships to 11. By 2021, American’s fleet will have increased to 15 ships. American Song, the 1st modern riverboat in the U.S., began cruising in October 2018 and is already sailing out West on the Columbia & Snake Rivers. The 3rd modern riverboat, to be named shortly, will be completed in 2020, and is already well under construction at Chesapeake Shipbuilding in Salisbury, MD where all American’s ships are designed and built.

American Cruise Lines is the only U.S. line offering three distinct ship styles and all the Line’s ships are infinitely more advanced and environmentally friendly than anything else on U.S. Rivers. American builds only new ships and each of their ships possess the newest safety technology and showcase stunning interior design. American’s series of five modern riverboats in particular, meet the highest new emissions standards and have the smallest carbon footprints in the industry. American’s modern riverboats are the perfect complement to the Line’s beautiful Victorian paddlewheelers and fully stabilized coastal ships – the new modern riverboats provide an exciting and refreshing new option for U.S. river cruisers.

American’s modern riverboats showcase soaring multi-story glass atriums and more glass throughout, than other U.S. riverboats--ensuring spectacular views from everywhere on the ship. The ships have huge standard cabins (at over 350 sq/ft), all outward facing, with full sliding glass doors and private furnished balconies. Each new ship in the series possesses the unique (patent-pending) opening bow and retractable gangway, which enables these riverboats to make bow landings wherever necessary. In addition to numerous comfortable lounges and gorgeous sundecks, the modern riverboats also feature casual cafes, in addition to the grand dining rooms found aboard all American’s ships.

While every ship in the Modern Riverboat Series shares the underlying modern design premise, each new ship is unique and will be slightly different than the one that came before it. The 1st ship, American Song, has 5 decks and showcases enormous 900 sq/ft Grand Suites with wrap-around private balconies. The 2nd ship, American Harmony, has 6 decks and features a 5th deck exclusively housing ten huge Veranda Suites. The 3rd modern riverboat will be slightly larger than the 1st and 2nd, but all the modern riverboats are under 200 passengers.

American Song, American Harmony and the upcoming 3rd, 4th & 5th ships in the Modern Riverboat Series are the very first ships of their kind available in the U.S. and response to 1st modern riverboat, American Song, has been tremendous as guests are delighted by the new style. In the past few years, the company has enjoyed record sales across its diverse fleet and continues to grow--adding new exceptionally designed, American-built ships year after year.

About American Cruise Lines: In 2018, American Cruise Lines celebrated its most award-winning year ever, winning 13 travel awards, including Conde Nast’s Readers’ Choice Award, for Top Small Cruise Lines; and Cruise Critic’s Cruisers’ Choice Award for Best River Line in the U.S. & Canada. American operates the largest and newest fleet of coastal cruise ships, Victorian paddlewheelers, and the only modern riverboats in the U.S. All ships are between 100-200 passengers and are built, crewed and registered in the U.S.A. With over 35 itineraries to 25 states, including many theme and holiday cruises, American cruises along the rivers, as well as the coastal and inland waterways of New England, Alaska, the Pacific Northwest, the Mississippi River system, and the Southeast.

Genting Hong Kong cut cruise and shipbuilding losses in 2018

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 02 April 2019 02 April 2019

Genting Hong Kong cut cruise and shipbuilding losses in 2018

Genting Hong Kong, the Hong Kong listed company which owns three cruise brands and the German MV Werften shipyard group, has reduced losses from both its cruise and shipbuilding activities last year.

The group’s cruise operations that comprise Crystal Cruises, Dream Cruise and Star Cruise, increased revenues to $1.35 billion from $1.02 billion in 2017. Net loss narrowed to $24.7 million from $186.1 million.

The sector’s performance was helped by 12% increase in gross yield and 15% increase in net yield, while net cruise costs increased 11%, mainly due to increase in capacity days but net cruise costs per capacity day were reduced by 6.5% due to efficiencies of scale.

Last year was the first one with two 151,000 gross ton Dream Cruises ships in service for the full year, which lifted the number of capacity days by 18.5%, the company said.

The groups shipyards, on a standalone basis, recorded an EBITDA of $3.6 million in 2018 versus a loss of $82.5 million in the year before due to higher shipyard utilisation rate with 36% completion of the Crystal Endeavor and 20% of the first Dream Cruises Global Class ships in 2018.

“However, as the shipyard is wholly owned by the Group, certain revenues and expenses relating to shipbuilding for the Group have to be eliminated during consolidation of accounts, resulting in a lower loss of $59.6 million in 2018 as compared with 2017 loss of $102.6 million for the shipyard segment,” Genting Hong Kong said.

Looking ahead, the company said cruise segment results should continue to improve in 2019 due to the low penetration rate in Asia and reduction in cruise capacity in China. The shipyard segment is expected to improve with 82% of the Crystal Endeavor and 65% of the first Global Class ship due to be completed by the end of 2019. “With that, the Group results should continue to improve in 2019,” Genting Hong Kong said.