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Carnival raises 2014 financial year non-GAAP EPS estimate to $1.60-$1.75

Carnival Corp & plc, the world’s largest cruise shipping group, says it has increased its full year 2014 non- GAAP diluted earnings per share guidance to be in the range of $1.60 to $1.75 from the $1.50 to $1.70 range it forecast in march.

The Anglo-American company said total revenues are expected to be higher for the full year 2014 compared to the prior year. The company continues to expect full year 2014 net revenue yields on a constant dollar basis to be down slightly compared to the prior year (flat to up slightly on a current dollar basis).

The company now expects full year 2014 net cruise costs excluding fuel per ALBD to be flat to up slightly compared to the prior year on a constant dollar basis, which is better than had been anticipated in the March guidance. However, changes in fuel prices and currency exchange rates have reduced full year 2014 forecasted earnings by $0.06 per share compared to March guidance.

Carnival group drives up ticket prices that rose, while booking volumes fell from year-on

Carnival Corp & plc, the Anglo-American cruise shipping group said since March, fleetwide booking volumes for the next three quarters are running slightly behind last year at higher prices. At this time, cumulative advance bookings for the remainder of 2014 are slightly ahead of the prior year at higher prices.

Group ceo Arnold Donald noted “Collectively our brands are gaining momentum in our efforts to drive higher ticket prices and we continue to expect sequential improvement in revenue yields, despite a more competitive environment in the Caribbean this summer. We remain focused on further understanding our guests and refining the exceptional customer experience we provide.”

“We have also made significant strides in our efforts to identify opportunities for cross-brand operational efficiencies. This work is still in the early stages, but we are making progress and beginning to see encouraging signs. We believe we have reached a positive inflection point for our company as we return to earnings growth in 2014 and work hard to ensure that growth accelerates in the years to come.”

Carnival Corp & plc reports better than anticipated $106 million second quarter net profit

Carnival Corporation & plc, the world’s largest cruise shipping group, has reported for the second quarter of 2014 U.S. GAAP net income, which included a net gain on vessel transactions of $15 million and net unrealized gains on fuel derivatives of $11 million, was $106 million, or $0.14 diluted EPS.

For the second quarter of 2013, U.S. GAAP net income, which included a gain on a ship sale of $15 million and unrealized losses on fuel derivatives of $31 million, was $41 million, or $0.05 diluted EPS. Revenues for the second quarter of 2014 were $3.6 billion, compared with $3.5 billion the prior year.

Carnival Corporation & plc President and CEO Arnold Donald noted that second quarter earnings were significantly better than anticipated in the company’s March guidance due to better than expected net revenue yields for most of the company’s cruise brands, as well as lower than expected net cruise costs.

Donald noted in a statement: “We benefited from effective marketing initiatives, which combined with a gradually improving economic environment, led to revenue yield improvement for our continental European brands in the quarter compared to the prior year and is expected to continue through the remainder of the year. In addition, we achieved a six percent improvement in fuel consumption.”

Royal Caribbean increase presence in Hong Kong

Royal Caribbean Cruises Ltd. today announced that it is expanding its presence in the Asia-Pacific region and establishing an office in Hong Kong, augmenting the cruise company’s already established Chinese offices in Beijing and Shanghai. On this occasion, the cruise company also unveiled the summer 2015 cruise season for Royal Caribbean International’s Voyager of the Seas, which will homeport in ‘Asia’s World City.’

"As a global industry leader, Royal Caribbean Cruises Ltd. is committed to pursuing the exciting strategic opportunity that Asia in general and China in particular represent,” said Adam Goldstein, President and Chief Operating Officer of Royal Caribbean Cruises Ltd. “As a testament to our commitment and confidence in Hong Kong and the surrounding region, Voyager of the Seas, one of our flagship vessels, will offer sailings into and out of Hong Kong starting in the summer of 2015. To support our expansion, we have now established a fully staffed office in Hong Kong, building on our 20 years of success in the market.”

On June 26, Voyager of the Seas will sail a six-night itinerary from Beijing (Tianjin) to its new homeport of Hong Kong, where the ship will offer 22 sailings through October 2015 for international vacationers to enjoy a three- to 10-night cruise aboard one of the world’s largest and most innovative cruise ships. Guests can choose sailings that visit Vietnam, Thailand, Singapore, Japan, South Korea, and Taiwan, as well as destinations in China.

Dr. Zinan Liu, Regional Vice President of Asia and Managing Director of China for Royal Caribbean Cruises Ltd. said, “Hong Kong has immense potential as a homeport for Chinese vacationers to board a Royal Caribbean cruise that helps make memories that will last a lifetime. To ensure that we truly dazzle Hong Kong vacationers, who are sophisticated and trend-setting travelers, Voyager of the Seas will undergo an extensive bow-to-stern revitalization before she arrives in Hong Kong next summer.”

As part of its plan, Royal Caribbean also will partner with the Hong Kong Tourism Board and local travel organizations, with the aim of raising Hong Kong and the Asian-Pacific cruise industry to new levels. Mr. Anthony Lau, Executive Director of the Hong Kong Tourism Board (HKTB) said “We are excited that Royal Caribbean has decided to make Hong Kong one of its key homeports in the Asia Pacific, which is a vote of confidence in our city’s potential for the global cruise industry. Strategically located in Asia and with a host of experiences to offer, Hong Kong is a popular port among cruise travelers from not just Asia but around the world. In recent years, especially after the opening of the international-caliber Kai Tak Cruise Terminal last year, the HKTB has intensified promotion of Hong Kong’s appeal as a cruise destination through dedicated campaigns.”

Titanic II projected service entry postponed by two years to 2018

The projected entry into service of  Titanic II is now scheduled to take place in 2018 rather than 2016 as originally envisaged, according to Clive Palmer, owner of Blue Star Line Pty Ltd, the Australian company that plans to build the ship in China.

“The first project development phase has been completed,” said Palmer, owner of Blue Star Line. “Currently the focus is on the evaluation and the project master plan development and more information will be available once this phase is completed."

"Titanic II is scheduled to be launched from its construction base in China in 2018, before her maiden passenger voyage retracing its original journey from Southampton to New York,” he said in a statement.

Viking Star