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Carnival sees 35% earnings rise in 2015, booking curve lengthens

  • Written by Kari Reinikainen

Carnival Corporation & plc, the world's largest cruise shipping group, says it expects to achieve an almost 35% earnings rise this financial year as booking curve has lengthened and unsold inventory decreased from a year ago

"In 2015, we are on track to achieve a nearly 35% earnings improvement and we are accelerating progress toward achieving double digit return on invested capital in the next three to four years. Our improved performance has driven even stronger operating cash, which is expected to exceed $4 billion this year. We remain committed to further enhancing shareholder returns as demonstrated by our recent 20% increase in quarterly dividends," Carnival Corporation & plc President and Chief Executive Officer Arnold Donald said in a statement

“Looking forward to 2016, we have driven a significant lengthening of the booking curve and have less inventory remaining for the first half of 2016 than at this time last year, which bodes well for continued year-over-year revenue yield improvement. Although we already have a solid base of business for next year, we are working hard to maintain the momentum through our ongoing initiatives to create additional demand," Donald said.

Carnival Corp & plc third quarter revenues, net profit edge lower

  • Written by Kari Reinikainen

Carnival Corporation & plc, the Anglo-American cruise shipping group, has reported a slight fall in both revenues and net profit for three months to 31 August. Carnival's financial year ends on 30 November.

Group net profit fell to $1.21 billion in the third quarter of the current financial year from a profit of $1.24 billion in the same period last year. The fresh figure includes an unrealised bunker derivative loss of $137 million, up from $15 million a year earlier. Revenues fell to $4.88 billion from $4.94 billion.

For the first nine months of its financial year, the group however reported a rise in net orofit to $1.48 billion from $1.32 billion, while revenues decreased to $12.0 billion from $12.1 billion.

Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted, “Our third quarter non-GAAP performance was the strongest of any quarter on record with earnings $0.17 per share higher than the prior year despite a slight drag from the net impact of fuel prices and currency. Non-GAAP earnings for the quarter were also $0.17 higher than the mid-point of prior guidance."

"Net revenue yields improved 5 percent (constant currency) from the prior year benefiting from strong demand which led to higher occupancy levels, increased ticket prices and increased onboard spending. Clearly our ongoing investments in the guest experience, combined with our global marketing and public relations efforts along with our initiatives to leverage our scale are having a positive impact," he said in a statement.

Carnival Corp & plc to publish third quarter interims 22 September

  • Written by Kari Reinikainen

Carnival Corporation & plc, the world's largest cruise shipping company, says it will publish interims of the third quarter of its financial year on Tuesday, 22 September at 1000 ET / 1500BST. The financial year of the Anglo-American company runs to 30 November.

Silver Cloud to join Silverseas's expedition fleet

  • Written by Teijo Niemelä

Silversea Cruises today announced it will move Silver Cloud to its luxury expedition fleet in November 2017. Destined mostly for polar waters, the elite 296-guest ship that launched the ultra-luxury cruise line will be converted into an ice-class ship during an extensive refurbishment scheduled to start in August 2017.

As an expedition ship, the all-suite Silver Cloud will accommodate 260 guests and also sail on itineraries to non-polar regions. When sailing Arctic and Antarctic itineraries, the guest complement will be restricted to 200. Silversea is a member of the Association of Arctic Expedition Cruise Operators (AECO) and the International Association of Antarctic Tour Operators (IAATO), and adheres to each organization's guidelines to ensure sustainable tourism. These include such measures as limiting the number of guests going ashore in certain areas of the Arctic and allowing for a broader range of Antarctic landing sites for expedition ships with no more than 200 guests.

"Silver Explorer's polar expedition cruises have proven hugely popular with our guests," said Enzo Visone, Silversea's CEO. "By converting Silver Cloud into an ice-class ship for our expedition fleet, we will be better positioned to meet the increasing demand for comfortable adventure travel, particularly to the Arctic and Antarctica, places that are best explored by small ships specially equipped with ice-strengthened hulls."

Silver Cloud will be the only luxury ice-class expedition ship offering five dining options: The Dining Room, the Relais & Châteaux® restaurant, La Terrazza, The Grill, and in-suite dining. The ship will have the highest space ratio and highest staff-to-guest ratio (nearly one to one) among luxury ice-class expedition ships. For the expedition team alone, there will be on average one team member guiding no more than twelve guests each. Plus the ship will be augmented by a fleet of 18 Zodiac crafts for up-close explorations.

The luxury expedition line currently has three all-suite expedition ships, Silver Explorer, Silver Discoverer, and Silver Galapagos. Collectively, they explore over 500 far-flung destinations, from Africa, Australia's Kimberley Coast, and the Russian Far East, to the Galápagos Islands, the British Isles, and the polar realms.

Guests are enriched by an onboard program of destination lectures, photo presentations, and daily recaps. Exploratory excursions are complimentary, and led by a team of experts, including marine biologists, ornithologists, geologists, botanists, historians, and anthropologists.

These expedition cruises offer a comfortable, intimate and convivial onboard lifestyle where guests can feel at home as they explore secluded lands. Guests enjoy ocean-view suites, gourmet cuisine, the personalized service of a butler, and a generous selection of all-inclusive shipboard amenities, including complimentary beverages, wines and spirits, a stocked in-suite beverage cabinet, and complimentary Wi-Fi for each guest.

Silversea's 2017 schedule will be announced in the coming days.

Genting Hong Kong takes control of Lloyd Werft

  • Written by Kari Reinikainen

Genting Hong Kong, the listed leisure industry company that owns Crystal Cruises and Star cruises, has acquired controlling stake in Lloyd Werft the German cruise ship refurbishment specialist that Genting has chosen to build Crystal’s new ships.

Getting will pay a total of €17.5 million for a 50% stake in Lloyd Werft Investitions- und Wervaltungs GmbH that owns the shipyard’s facilities and site and a 70% stake in Lloyd Werft Bremerhaven AG that operates the shipyard.The sellers are BLG Logistics and the Ehlerding family.

Crystal Cruises will build three 100,000 gross ton top end of the market deep sea cruise vessels and two river yachts at the Bremerhaven based shipyard. The berths at the yard, which currently employs 350 staff and 50 trainees, will be rebuilt at a cost of at €45 million that will be carried out by the State of Bremen.

CBR 2/2015 contents

CBR 1/2015 contents

CBR 3/2014 contents