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Global Ports Holding first quarter passenger volume, loss rise, outlook encouraging

  • Written by Kari Reinikainen

Global Ports Holding plc (GPH), the Istanbul based and London listed company that is the world’s largest cruise terminal operator, has recorded an increase in both passenger volume and net loss in the first quarter, but the company said the outlook is encouraging.

The company handled 334,600 passengers, an increase of 6.3% year on, at the terminals it operates. This was mainly driven by a 39.3% rise, to 246,400, in the number of passengers at the Spanish ports of Barclona and Malaga.

Net loss increased to $9.6 million from $5.0 million, but operating result (EBITDA) rose to 411.4 million from $10.3 million.

Revenue from the cruise operations rose by 16.5% to $5.2 million, outpacing the 13.1 growth rate of consolidated revenues, which reached $20.6 million.

“Operational results are inline with expectations and management are pleased with trading year to date. Due to the seasonal nature of the business, the first quarter of the year is always the quietest trading period in particular for the cruise but also the commercial divisions of GPH Plc. Therefore Q1 trading trends do not inform the trend for the full year,” the company said in a statement.

Emre Sayin, Chief Executive Officer said in the statement: “The first quarter is a seasonally low period for the group, nevertheless trading has been positive, with strong cruise passenger volumes and continued positive momentum in volumes at our commercial ports. I am particularly pleased that we have made progress with our inorganic cruise growth strategy through the award of the port operating rights at Zadar cruise port. Trading at both our cruise and commercial ports have continued to perform in line with our expectations as we head into the summer season.”

During the period GPH won a tender for the operating rights of Zadar cruise port in Croatia for a duration of 20 years. “This contract remains subject to entering into a final concession agreement with the Port of Zadar Authority,” GPH said.


The company also operates container terminals and other cargo facilities in Turkey.


TUI AG to order third expedition ship for Hapag-Lloyd

  • Written by Kari Reinikainen

The supervisory and executive boards of TUI AG, the German travel company that is listed in London, gave the green light for the construction of a third expedition cruise ship for Hapag-Lloyd Cruises on Tuesday.

Hapag-Lloyd Cruises will shortly launch the planning and negotiation process for a further Hanseatic class ship, the company said in a statement.

“This market is growing strongly. Thanks to its experience, competence and high quality standards, Hapag-Lloyd Cruises offers great potential to attract new international customer groups and deliver stronger growth in the expedition cruise segment,” said Fritz Joussen, CEO, said in the statement.

The compay currently has two expedition ships of 15,650 gross tons and 230 passenger capacity each on order at Vard in Norway. Both are due to enter service in 2019.

TUI reports strong demand as cruise revenues, EBITDA increase

  • Written by Kari Reinikainen

TUI AG, the German travel company which is listed in London, has reported strong demand for all its three cruise brands and highe revenues plus EBITDA.

In the second quarter of its financial year to the end of March, cruise revenues rose to €203.3 million from €194.0 million, while EBITDA increased to €54.9 million from €46.9 million.

In the first six months of the financial year, cruise revenues rose to €395.6 million from €345.9 million and EBITDA to €92.4 million from €75.0 million.

TUI Cruises obtained an average daily rate per passenger of €147, which was 2% lower than in the same period last year, but came against a 21.8% rise in the number of passenger days, to 1.25 million.

Marella Cruises in the UK obtained an average rate of €143, which was 9.2% more than year on, but the number of passenger days decreased by 0.6%, to 558,800. Hapag-Lloyd Kreuzfahrten enjoyed a 3.2% rise in the average daily rare, which reached €653 as the number of passenger days rose by 4.0% to 92,900.

“Demand for our cruises remains strong, with higher yields year on year for the periods currently on sale in all three brands. In Marella, Majesty exited the fleet in November 2017 and Spirit will exit in November 2018, and from Summer 2019 the entire  fleet will be fully all-inclusive,” the company said in a statement.

Celestyal Cruises appoints Chris Theophilides as new CEO to succeed Kyriakos Anastassiades

  • Written by Teijo Niemelä

Celestyal Cruises today announced that Kyriakos Anastassiadis will conclude his term as CEO of the company on June 30, 2018. Anastassiadis contributed to the company’s strategic repositioning as well as to the development and strengthening of the Celestyal Cruises brand internationally. From his position as Chair of CLIA Europe, a role he has served in since late 2016, he assiduously promoted the cruise industry agenda.

Celestyal Cruises would like to thank Anastassiadis for his contribution to the development of Celestyal Cruises and wishes him good health and success in his future endeavors.

Celestyal Cruises appoints Chris Theophilides to the position of CEO of Celestyal Cruises, as of July 1, 2018. Theophilides has been working in the cruise industry since 2006 and has held the position of Vice President of Strategy and Business Development of Celestyal Cruises since October 2014. Most recently, he was appointed Chief Operating Officer (COO) of the company in January 2017, supporting the CEO in a wide range of cross-functional activities.

Theophilides graduated from Rutgers University, New Jersey in 1995, where he earned a Bachelor of Arts degree in Economics. He continued his studies at the same institution to attain a Master’s degree in Business Administration (MBA) in 1997. From 1998 to 2006, he served as Senior Manager, Corporate Finance at PricewaterhouseCoopers (PwC), where he qualified as a Certified Public Accountant (CPA). He is also a member of the American Institute of Certified Public Accountants (AICPA).

NCLH says strong demand continues for all three brands 

  • Written by Kari Reinikainen

Norwegian Cruise Line Holdings Ltd. (NCLH), the world’s third largest cruise shipping group, said that its three brands – Norwegian Cruise Line in the contemporary market, Oceania Cruises in the premium sector and Regent Seven Seas in the luxury segment – continue to enjoy strong demand.

“The strong global demand for our portfolio of brands which we experienced during 2017 has continued, as demonstrated by the successful, record-breaking launch of Norwegian Bliss, which entered the fleet as the best booked Norwegian Cruise Line newbuild in the history of our company,” said Mark Kempa, interim chief financial officer of Norwegian Cruise Line Holdings Ltd., in a statement. 

“While our primary focus continues to be to delever to the low three times by year-end 2018, our recently announced $1 billion share repurchase program reflects our ongoing confidence in our financial position and the long-term strength of our business as well as our commitment to provide meaningful capital returns to our shareholders.”

The company slightly increased its 2018 earnings per share (EPS) guidance, to $4.55-$4.70 from an earlier guidance of $4.45-$4.65.