Viking Ocean Cruises says seventh and eight ships contracts effective, takes up option for ships nine and 10
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 16 December 2017 16 December 2017
Following the agreement signed last April between Fincantieri and Viking Ocean Cruises, the contracts for the construction of the seventh and eighth ships have become effective and, furthermore, the company has exercised the option for the ninth and the 10th unit, the cruise line said in a statement.
The new units will be sister ships of the ones already ordered, four of which have been delivered and currently operate successfully in the company’s fleet. The ships have a gross tonnage of 47,800 tons and accommodate 930 guests in 465 all-veranda cabins, built according to the latest navigation regulations and equipped with the most modern safety systems, including the “Safe return to port” system.
The first of the series, Viking Star, built at the shipyard in Marghera, took to sea in March 2015; the second, the third, and the fourth, Viking Sea, Viking Sky and Viking Sun, built at the shipyard in Ancona, were delivered respectively in March 2016, January and September 2017. The other six sister ships, including those related to the exercised option, will be delivered in 2018, 2019, 2021, two in 2022 and 2023.
TUI AG cruise operations stage 34% rise in operating profit
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 13 December 2017 13 December 2017
The cruise operations of TUI AG, the Hannover based tourism group that is listed in London, staged a 33/9% rise in operating profit in the 12 months to 30 September, the company said in a statement.
Operating profit (EBITDA) reached €255.6 million compared to €190.9 million in the previous financial year, while revenues rose to €815.0 million from €703.1 million, lifted by higher capacity and firmer rates.
TUI owns in full Hapag-Lloyd Kreuzfahrten in Germany and Marella cruises in the UK plus has a 50% stake in TUI Cruises in Germany. In all, these operate 16 ships.
TUI Cruises recorded a 1.2% rise in average daily rate, which reached €173 per passenger and day. Marella Cruises recorded a 8.3% increase to €131, while the figure for Hapag-Lloyd Kreuzfahrten increased by 2.6% to €594.
Marella Cruises’ passenger days increased by 30.7% to 2.27 million, the figure for TUI Cruises increased by 30.7% to 4.48 million, but Hapag-Lloyd Kreuzfahrten recorded a fall of 1.7% to 349,000, TUI AG said.
Color Group considers returning to Oslo bourse
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 07 December 2017 07 December 2017
Color Group, the privately owned Norwegian company that owns the cruise and ropax ferry operator Color Line, may return to the Oslo stock exchange after a break of almost two decades.
"We believe investors will appreciate the opportunity for exposure towards the travel and leisure industry in an attractive geographic market,” Trond Kleivdal, Group President in Color Line AS, said in a statement.
“Following significant investments and streamlining of operations, Color Line is today a well-run company that combines growth, profitability and dividend capacity with innovative environmental initiatives. The company has a modern fleet of vessels and is building the world's largest plug-in hybrid ferry," he said.
A listing will increase Color Group's ability to fund further growth projects, the company said, but added that no decision has been regarding whether or not an IPO would take place. In the past, the company has aired plans about entering the deep sea cruise sector.
Presently fully owned by O.N. Sunde AS, an investment company, Color Group could be worth NOK11 billion to 12 billion, according to a report in the Finansavisen business daily. Sunde could reduce his stake to below 50% of the shares in the company, the report said.
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