News

Genting Hong Kong cuts first half loss as cruise revenue leaps

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 August 2018 28 August 2018

Genting Hong Kong, the parent company of Crystal Cruises, Dream Cruises and Star Cruises, has cut first half loss and reported a rise of more than a third in its cruise revenue.

Group net loss narrowed to $141.3 million from $203.2 million in the first six months of 2017, while revenues increased to $777.6 million from $532.5 million.

“Revenue from cruise and cruise-related activities increased 36.2% to $642.0 million in 1H2018 compared with $471.2 million in 1H2017,” the company said n a statement.

Net revenue increased 41.4% to$514.3 million by increases in capacity Ddys of 25.9% and net yield of 12.3%. The increase in capacity days was primarily due to the inclusion of World Dream and four Crystal River Cruises vessels in the review period.

Improvement in net yield was driven by higher occupancy ratio and increases in passenger ticket and onboard revenue, Genting Hong Kong said.

Revenue from shipyard operations and non-cruise activities from external customers increased 121.3% to $135.7 million in primarily contributed by revenue from shipyard activities in Germany and from the sales of residential property units in Mainland China. “However, lower cost capitalisation into shipbuilding costs as a result of a lower than expected production level in the six months ended 30 June 2018 has resulted in larger segmental loss from our shipyard operations,” the company said.

Pacific Jewel sold, Star Princess to join P&O Cruises Australia fleet

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 22 August 2018 22 August 2018

P&O Cruises Australia announced today a second Grand class ship will join the family while bidding farewell to one of its “jewels” as part of the cruise line’s commitment to refresh the fleet over time.

Carrying more than 3,100 guests, Star Princess will join her sister ship, Golden Princess, in the P&O Cruises Australia fleet from the end of 2021.

Star Princess will replace the much-loved and considerably smaller Pacific Jewel, which will leave P&O Cruises in March next year, by which time she will have served the brand for almost 10 years.

President of P&O Cruises and Carnival Australia, Sture Myrmell, said welcoming two Grand Class ships – Star Princess and Golden Princess – was part of the evolution of the P&O Cruises fleet.

In September last year, P&O Cruises announced its plan to refresh its fleet over time, continuing to evolve the guest experience and creating economies of scale necessary to compete effectively in today’s environment.

“Pacific Jewel has been a jewel by name and by nature. I feel sentimental farewelling a much-loved ship but excited for the future because the addition of two bigger ships is a game-changer for P&O Cruises and its guests,” Myrmell said.

“P&O Cruises is all about offering a great value cruise holiday that celebrates modern Australia across food, entertainment, activities and service delivered in a contemporary setting. We are ensuring P&O Cruises has the right ships for a contemporary brand operating in a competitive market.”

Myrmell said P&O Cruises would continue to base ships year-round in its key homeports of Sydney and Brisbane as well as offering seasonal sailings from other Australian states and New Zealand.

A transformed Golden Princess will join the P&O Cruises fleet in October 2020 while her sister ship, Star Princess, will join P&O Cruises at the end of 2021.

Pacific Jewel’s final voyage will depart from Melbourne on 24 February, 2019 before being transferred to a new operator following her sale.

P&O Cruises will contact all guests over the coming weeks to provide further information on alternative options.

“We apologise for the inconvenience this may cause some guests and will work hard to find alternatives for those whose holiday plans are affected. We also thank guests for their patience because it is likely to take some weeks to put everything in place but we hope this good news will be well received by our loyal guests,” Myrmell said.

Carnival Cruise Line to base its 180,000 gross ton newbuild in the Port Canaveral

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 21 August 2018 21 August 2018

Carnival Cruise Line, the world's largest cruise operator, has reached an agreement in principle with the Canaveral Port Authority on a new state-of-the-art terminal able to accommodate its new 180,000 gross ton ship, the largest ever constructed for the line, set to debut in 2020.

The terms of the agreement are expected to be included on the agenda of the Canaveral Port Authority Board of Commissioners' meeting on Wednesday, Aug. 29, 2018. If approved, the agreement will clear the way for Carnival Cruise Line's plans to homeport the as-yet-unnamed 5,286-lower berth ship at Port Canaveral, further bolstering the line's position as the port's number one cruise operator.

The vessel will offer an array of groundbreaking, never-before-seen features and attractions while also being the first North American-based cruise ship to be powered by Liquefied Natural Gas (LNG), part of Carnival Corporation's "green cruising" design platform.

"We are very excited about the prospects of homeporting our largest ship at Port Canaveral, a valued business partner for more than 25 years," said Christine Duffy, President of Carnival Cruise Line. "Easily accessible from all over the southeast with excellent facilities and friendly staff, Port Canaveral is one of our most popular and fastest-growing homeports. This fantastic new ship, coupled with our future plans for Port Canaveral, will provide guests with an unparalleled seagoing vacation experience from the minute they arrive."

"The Port and Carnival Cruise Line have worked closely for decades building a successful partnership together. We are proud of our partners at Carnival and eager to begin this new chapter in our business relationship," said Canaveral Port Authority Port Director and CEO Capt. John Murray. "Carnival's commitment to Port Canaveral demonstrates their confidence in our ability to support one of the world's most successful cruise brands. We're excited and looking forward to having their largest and newest class of ship homeported here."

Construction of the 180,000 gross ton cruise ship is scheduled to begin in November 2018 with the official steel-cutting ceremony at the Meyer-Turku shipyard in Finland. Further ship details, along with itineraries from Port Canaveral, are expected to be announced in 2019.

The decision to base the new ship on the Space Coast continues a decades-long relationship and reinforces Carnival Cruise Line's position as Port Canaveral's number one cruise operator. The line currently has three year-round ships based in Port Canaveral carrying upwards of 650,000 passengers a year. In October, Carnival Cruise Line will also reposition the newer Carnival Breeze to homeport at Port Canaveral.