NCLH reports strong third quarter, nine month figures
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 08 November 2018 08 November 2018
Norwegian Cruise Line Holdings Ltd (NCLH), the world third largest cruise shipping group, has reported strong figures for both the third quarter and the first nine months of the year on strong demand.
Net profit rose to $470.4 million in the third quarter from $400.7 million year on as EBIT increased to $550 .3 million from $476.3 million. Revenues rose to $1.86 billion from $1.65 billion.
In the January-September period, the net profit of the company reached $800.2 million compared to $661.0 million year on, while EBIT reached $1.00 billion from $871.6 million and revenues climbed to $4.67 billion from $4.15 billion.
“Our three brands fully benefited from strong demand for peak summer season sailings, with particular strength in premium-priced itineraries in Alaska and Europe, resulting in the highest quarterly revenue and earnings in our history,” said Mark A. Kempa, executive vice president and chief financial officer.
In the third quarter, total cruise operating expense increased 10.8% compared to 2017 primarily due to an increase in capacity days. Gross cruise costs per capacity day increased 4.0% due to higher marketing, general and administrative expenses. Adjusted net cruise cost excluding Fuel per capacity day increased 2.0% on a constant currency basis and 2.1% on an as reported basis.
Two ships sold by Costa Crociere to launch CSSC Carnival Cruise Shipping Limited
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 06 November 2018 06 November 2018
Carnival Corporation & plc, the US-UK cruise shipping group, said its Chinese joint venture with China State Shipbuilding Corporation (CSSC) would acquire two ships from Costa Crociere, a fully owned unit of the Carnival group.
“The first of these ships, the 85,861-ton, 2,210-passenger Costa Atlantica, is scheduled to be transferred to the new Chinese cruise line by the end of 2019. Costa Atlantica’s sister ship, the 2,114-passenger Costa Mediterranea, will be transferred at a date still to be announced,” Carnival said in a statement. Both ships were built early in this millennium in Finland.
Earlier, Fincantieri had said the Chinese joint venture company that would be known as CSSC Carnival Cruise Shipping Limited had signed firm orders with CSSC to build two ships.
Firm contract for first two CSSC Carnival Cruise Shipping newbuildings signed
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 06 November 2018 06 November 2018
The contracts that seal the agreements announced in February 2017 concerning the construction of two cruise ships for CSSC Carnival Cruise Shipping Limited, which will be the first units of this kind ever built in China for the Chinese market, have been signed, Fincantieri said in a statement.
The design of the ships will be tailored for the specific tastes of the Chinese travelers and for CSSC Carnival Cruise Shipping Limited, the new Chinese cruise brand of the joint venture between Carnival Corporation & plc and CSSC, which will also operate the units. The first delivery is expected in 2023.
“The project, which has a total value of about $1.5 billion, not counting the options for additional four vessels, will be achieved by Shanghai Waigaoqiao Shipbuilding Co., Ltd (SWS), a subsidiary of China State Shipbuilding Corporation (CSSC),” Fincantieri added.
The joint venture set up by Fincantieri and CSSC Cruise Technology Development Co. Ltd (CCTD) will grant a technology license of the ship model platform and provide a series of technical services to SWS, including project management activities, supply chain management and sales of fundamental systems and components of the ship.
A memorandum of understanding to build the ships was signed on 22 February 2017 and it replaced a similar document from the previous year. The project was first launched in the autumn 2015, when the Chinese president XI Jinping visited the UK, which is the domicile of Carnival plc.
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