Non-cruise activities drag Global Port Holding to deeper interim loss

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 21 August 2019 21 August 2019

The cruise activities of Global Ports Holding, the Turkish company that is the world’s largest cruise port operator, recorded higher revenues and EBITDA, but its non-cruise business developed in the other direction and the group’s interim loss deepened as a result.

Total revenues fell by 0.2% to $54.6 million and adjusted EBITDA also decreased by the same percentage, to $34.8 million, in the first half of the year compared to the same period last year.  Underlying profit fell by 92.7% to $0.9 million, largely due to a 62.4% rise in financing costs that reached $18.4 million.

Revenues in the cruise operations of the company rose by 13.3% to $23.9 million, but non-cruise operations posted a 9.1% fall, to $30.8 million.

EBITDA in the cruise business of the company improved to $16.8 million, an increase of 14.3%, but in the non-cruise part of its operations, Global Ports Holding experienced a 13.1% weakening in the figure, to$22.3 million, it said in a statement.

The number of passengers handled at the group operated ports rose by 26.8% to 2.1 million, fuelled by a larger portfolio than last year. 

 

Higher sales and margins lift Viking Line interims

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 21 August 2019 21 August 2019

Higher sales and better margins have helped Viking Line, the listed Finnish cruise ferry company, to improve its second quarter and first half interim results, offsetting a slight fall in passenger volume, the company said in a statement.

The company should not be confused with Viking Ocean Cruises or Viking River Cruises.

Group net profit rose to €3.6 million in the second quarter from €1.1 million a year earlier and operating income reached €5.4 million compared to break even as revenues increased to €131.1 million from €125.5 million.

In the first six months of the year, the company cut net loss to €8.7 million from €11.8 million and operating loss to €8.8 million from €13.5 million. Revenues rose to €227.0 million from €225.7 million.

The company experienced a slight fall in the number of passengers and freight units carried, but it was also able to reduce operating expenses during both review periods, which led to higher margins.

Looking ahead, tough competition continues in the Nordic cruise ferry industry and third quarter, which includes the main holiday season in the region, would be decisive for the full year result of the company.

Viking Line reiterated its earlier forecast that the full year operating result should match or exceed the figure of the previous year, which was €9.3 million.

 

 

 

Chinese buyer takes delivery of former Oriana

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 20 August 2019 20 August 2019

Well Star Travel Cruises, a new Chinese company, has taken delivery of the former P&O Cruises’ Oriana and renamed the 1995 built vessel Piano Land.

The ship sailed from Southampton in the UK on 16 August under its new name after completion of its last cruise for P&O Cruises, which is part of the Carnival Corporation & plc group.

The 69,840 gross ton Oriana was the first newbuilding to the UK market. At the time of its exit, it was the smallest ship in the now seven strong fleet of P&O Cruises.

Iona, the first of two 185,000 gross ton LNG powered newbuildings, will join the fleet next year, followed by a yet unnamed sister vessel in 2022.

P&O Cruises publishes Oceana’s Southampton based winter programme

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 20 August 2019 20 August 2019

P&O Cruises, which is part of the Carnival Corporation & plc group, has announced details of a new winter 2019-20 cruise programme of Oceana that will replace a cancelled programme in the Arabian Gulf.

All cruises in the new programme will depart and terminate in Southampton. The Arabian Gulf programme should have used Dubai as turnaround port.

The new programme consists of 14 cruises on Oceana between 10 October 2019 and 9 April 2020. Oceana will sail to five different regions including seven itineraries to Spain, Portugal and the Canary Islands, two Northern cruise breaks and one long Caribbean cruise roundtrip from Southampton.

These cruises are book-ended by repositioning cruises to and from Malta which include iconic ports Rome and Barcelona, the company said in a statement.

Highlights of the programme include:

A 14-night cruise (E927N) on Oceana departing Southampton on 22 December. Ports of call include Lanzarote, Gran Canaria, Tenerife, Madeira, Lisbon and La Coruna. Select Price for an inside cabin from £999 per person.

Oceana will offer a 35-night Caribbean cruise roundtrip from Southampton, departing on 17 November. Ports of call include Azores, Antigua, St Maarten, Montego Bay, Grand Cayman, Roatan, Puerto Limon, Aruba, Martinique and Barbados. Select Price for an inside cabin from £1,499 per person.

A seven-night cruise (E004N) on Oceana departing Southampton on 16 February. Ports of call include Hamburg, Ijmuiden (for Amsterdam) and Zeebrugge (for Bruges). Select Price for an inside cabin from £499 per person.

A 14-night cruise (E924N) on Oceana departing Southampton on 27 October. Ports of call include Lanzarote, Gran Canaria, Tenerife, Madeira, Seville (from Cadiz) and La Coruna. Select Price for an inside cabin from £649 per person.