Carnival shares open sharply lower in New York, partly recover in London after morning rout

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Category: Top Headlines

Published on Tuesday, 21 May 2013 13:55

Written by Kari Reinikainen

Shares in Carnival Corporation, the US based holding company in the Carnival Corp & plc group, opened sharply lower on Tuesday after the group had issued a profit warning, while shares in Carnival plc, the British holding company, stageda partial recovery after a morning rout.

Carnival Corporation traded about 5.4% down at $33.40 in New York at about 10 am this morning local time. About 6.2 million shares had changed hands.

In London, Carnival plc had staged a recovery to trade about 4.2% lower at £23.01 at 3pm local time. It had hit a session’s low of £20.17 in the morning. Volume was in the region of 3.7 million shares.

However, the share price of both holding companies showed high volatility

Carnival issues profit warning, says yields to fall, shares dive in London

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Category: Top Headlines

Published on Tuesday, 21 May 2013 08:34

Written by Kari Reinikainen

Carnival Corporation & plc, the world’s largest cruise shipping group, has issued a profit warning on forecast fall of yields in 2013 that sent shares in the British holding company sharply lower in early London trading.

“The company now expects full year 2013 net revenue yields to be down 2% to 3% compared to the previous flat yield guidance for the year. In addition, voyage cancellations beyond those incorporated in the company's previous earnings guidance, as well as increased selling and administrative costs, are expected to reduce earnings by approximately $0.10 per share,” the company said in a statement.

“Current cruise ticket pricing for the company has driven higher booking volumes however, at the same time, it has led to lower than anticipated net revenue yields which has resulted in reduced earnings guidance,” it continued. 

“Based on the above factors, as well as current fuel prices of $674 per metric ton and currency exchange rates of $1.30 to the euro and $1.53 to the pound, the company now expects full year 2013 EPS to be in the range of $1.45 to $1.65 compared to its previous earnings guidance range of $1.80 to $2.10. The company continues to expect second quarter 2013 EPS to be in the range of $0.04 to $0.08 per share despite slightly lower yield expectations,” Carnival said.

Shares in Carnival plc, the UK based holding company, had fallen 13.8% to £20.7 in the first 45 minutes of trading in London this morning.

Richard J. O'Hanlon appointed Vice President, Nautical and Safety Operations for Carnival Cruise Lines

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Published on Monday, 20 May 2013 15:04

Written by Teijo Niemelä

Richard J. O'Hanlon, a former rear admiral in the U.S. Navy with nearly two decades of government and private sector executive experience in maritime operations, maintenance and logistics, has been named vice president - nautical and safety operations for Miami-based Carnival Cruise Lines, the world's largest cruise operator.

O'Hanlon started May 20, reporting to Martin Landtman, Carnival's senior vice president of marine operations.

In this newly created position, O'Hanlon will be responsible for all aspects of nautical and safety functions across the line's 24-vessel fleet, including bridge procedures and nautical operations, as well as firefighting and lifesaving systems. Additionally, all shipboard deck and bridge personnel, including ship captains, will report to him.

"We are privileged to have such a highly experienced professional oversee this critically important role within our marine operations area," said Landtman. "Rich's outstanding level of expertise and diverse skill set will be a major asset to our nautical and safety operations."

O'Hanlon most recently served as chief operating officer of Long Island, N.Y.-based Talon Air, Inc., an air charter company with a fleet of 25 corporate aircrafts where he controlled $40 million in assets. Prior to that, O'Hanlon held a number of prominent maritime positions, including commander of the Naval Air Force Atlantic and deputy chief of staff for logistics and training for U.S. Fleet Forces, both based in Norfolk, Va. O'Hanlon also served as the commanding officer of a nuclear-powered aircraft carrier, overseeing a team of more than 5,000.

O'Hanlon earned a bachelor of science in mathematics from the United States Naval Academy, a master's certification in applied aeronautical engineering from the United States Naval Test Pilot School and a master's certification in applied nuclear engineering from the United States Naval Nuclear Power Training Command.

Carnival is "The World's Most Popular Cruise Line" with 24 ships operating 3- to 16-day voyages to The Bahamas, Caribbean, Mexican Riviera, Alaska, Hawaii, Canada, New England, Europe, Panama Canal, New Zealand, the Pacific Islands, Norway, the Baltic and the British Isles. The company's 25th ship, an as-yet-unnamed 135,000-ton vessel, is scheduled for delivery in spring 2016.

Viking launches its ocean project, company rebrands

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Published on Friday, 17 May 2013 05:34

Written by Teijo Niemelä

Viking Cruises has launched its ocean product line, Viking Ocean Cruises (www.vikingcruises.com/oceans), marking the introduction of the travel industry’s first new cruise line with newbuilds in nearly a decade. Developed from the ground up to return the focus of cruising to the destination, Viking Ocean Cruises will begin sailing in May 2015 with its first vessel – Viking Star – embarking on maiden voyages in Scandinavia and the Baltic; and the Western and Eastern Mediterranean. Viking Cruises has aggressive expansion plans in both the ocean and river cruise categories, with a second ocean ship on order for delivery in 2016 and conditional orders and options for four more additional ocean vessels. The ocean ship order follows the company’s continued rapid fleet expansion in the river cruise sector, with 10 new river ships recently christened in March of this year and 12 new river ships planned to launch in 2014.

"It is our view that in the race to build bigger ships, many cruise lines have lost sight of the destinations to which they sail," said Torstein Hagen, Chairman of Viking Cruises. "With our new ocean cruises, we are applying the same principles behind our award-winning river cruises to our itinerary and ship design; privileged-access excursions; and onboard experiences to make destinations the true focus."

Viking Star Infinity Pool

Viking Star Main Pool

Leveraging extensive feedback and input from Viking River Cruises passengers, Viking Ocean Cruises was developed with experienced travelers in mind. Itineraries are curated for maximum time in port, often with late evenings or overnights, so guests can experience local nightlife or evening performances. Ports include both cosmopolitan cities and “collector ports,” and appeal to those with an interest in history, art and culture. In addition, all-inclusive pricing provides unparalleled value – with every cruise fare including a veranda stateroom, shore excursions in each port of call, all onboard meals, and all port charges and government taxes. Passengers also enjoy many complimentary amenities as part of their fare, including: beer and wine with lunch and dinner service; wi-fi; self-service laundry and 24-hour room service – a value of more than $2,400 per couple for an average cruise.

Viking Star

Classified by Cruise Critic as a “small ship,” the new 928-passenger all-veranda Viking Star is engineered at a scale that allows direct access into most ports, so guests have easy and efficient embarkation and debarkation. The ship’s understated elegance and modern Scandinavian design is crafted for maximum guest comfort. Highlighted features include:

• All Veranda Staterooms: Guests can choose from five stateroom categories, starting from a 270 sq. ft. veranda stateroom, all with private verandas, king-size beds, large showers, and LCD TVs.

• Explorer Suites: Viking Star’s 14 Explorer Suites are two-room suites ranging from 757 to 1,448 sq. ft. and offer sweeping views from wrap-around private verandas as well as the most amenities and privileges of any category onboard.

• Two Pool Choices: In addition to the Main Pool with a retractable dome permitting any-season swimming, Viking Star features one of the only infinity pools at sea, allowing passengers to swim surrounded by their destination in a glass-backed pool cantilevered off the stern.

• The Spa: In keeping with Viking’s Nordic heritage, The Spa onboard Viking Star is designed with the holistic wellness philosophy of Scandinavia in mind – from the centuries-old tradition of the sauna to a “snow grotto” where snowflakes gently descend from the ceiling through chilled air.

• Explorers’ Lounge and Wintergarden: Spaces designed to facilitate mingling and storytelling, the two- deck Explorers’ Lounge at the bow of the ship is the perfect spot for taking in scenery through double- height windows over a glass of aquavit or pint of local craft beer; and the Wintergarden is a serene environment in which to relax and enjoy afternoon tea service complete with a curated tea selection.

• Dining Choices: Viking Star offers multiple restaurant locations and food choices – from The Restaurant and the World Café, serving a variety of global cuisines and regional specialties – to intimate dining experiences at The Chef’s Table, Italian Grill and The Kitchen Table, all serving meals prepared with fresh, local ingredients. Furthermore, with multiple choices for outdoor seating during meals, Viking Star offers more al fresco dining than any other ship.

• Enriching Entertainment: Connecting passengers to their destinations through authentic experiences is central to Viking Cruises, and Viking Star’s onboard venues include a dramatic three-deck atrium where passengers can enjoy musicians playing regional and classical music; the Star Theater, home of enrichment lectures from scholars and experts; an onboard cooking school where guests can learn local specialties; and the Viking Piano Lounge, where guests can relax, mingle, and exchange stories after a day of exploring.

• Sustainable Features: Designed with the environment in mind, Viking Star features energy-efficient hybrid engines, a hydro-dynamically optimized streamlined hull and bow for maximum fuel efficiency, onboard solar panels, and equipment that minimizes exhaust pollution and meets the strictest environmental regulations. The ship has been designed by experienced nautical architects and engineers, including an interior design team of London-based SMC Design, and Los Angeles-based Rottet Studios. The first of two ocean ships on order, Viking Star will be built by Italy’s Fincantieri's Venice-Marghera shipyard.

Viking Star Atrium

2015 maiden voyage itineraries

• Viking Homelands (15 days; Stockholm – St. Petersburg – Copenhagen – Bergen) – This itinerary features a blend of northern continental European cities, imperial Russia and the legendary homeland of the Vikings. The journey includes overnights in Bergen, Stockholm and St. Petersburg, plus calls in Helsinki, Tallinn, Gdansk, Berlin (Warnemünde), Copenhagen, Aalborg, Stavanger, and Flam. Introductory 2-for-1 pricing starts at $4,999 per person with discounted airfares from $895 per person.

• Passage Through Western Europe (15 days; Bergen – London – Paris – Barcelona) – The nimble proportions of Viking Star give guests access to the heart of the Continent as well as coastal cities on this cross-region itinerary that journeys from the Viking waters of Bergen to London on the Thames, down the Atlantic Coast of France and Portugal, and to the Mediterranean. Ports include Lisbon, Cadiz, Gibraltar, and Cartagena with overnights in Bergen, London, Paris (Rouen) and Barcelona. Introductory 2-for-1 pricing starts at $4,499 per person with discounted airfares from $795 per person.

• Mediterranean Odyssey (13 days; Barcelona – Rome – Dubrovnik – Venice) – Spain, France, Italy, Croatia and Greece—this cruise has it all. Visit Toulon, France; Monte Carlo; Tuscany (Livorno), Rome and Naples in Italy; Corfu (Kerkira) Greece; Dubrovnik and Split in Croatia; plus overnights in Barcelona and Venice. Introductory 2-for-1 pricing starts at $3,999 per person with discounted airfares from $595 per person.

• Empires of the Mediterranean (10 days; Venice – Athens – Ephesus – Istanbul) – From ancient ruins to medieval cities, this Mediterranean journey starts in Venice and journeys to Pula and Dubrovnik in Croatia; Kotor, Montenegro; Santorini, Athens (Piraeus), and Ephesus (Kusadasi), plus an overnight in Istanbul. Introductory 2-for-1 pricing starts at $2,999 per person with discounted airfares from $695 per person.

Combination cruises of the above are also available, ranging from 22 to 50 days, and starting at $6,799 per person for introductory pricing with air specials from $695 per person.

Viking Star World Cafe

Booking details

From now through July 31, 2013, Viking is offering an introductory Early Booking Discount in the U.S. market for the 2015 maiden season with 2-for-1 pricing on cruise departures and savings of $2,000 per couple on international air. The 2015 maiden season is initially being offered only in the U.S.; Viking will begin marketing the new ocean cruises in the UK, Australia and New Zealand later this year.

Viking Star technical details

Length overall: 745.4 ft. (227.2m); beam 94.5 ft. (28.8 m); draft 20.7 ft. (6.3 m); air draft 131.2 ft. (40.0 m); gross tonnage 47,800 t; deadweight 3,640 t; service speed 20.0 kn; number of decks 14; classification: Lloyd's Register.