More News

Holland America Group's Natalya Leahy appointed President of Seabourn

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 01 March 2023 01 March 2023

Ultra-luxury cruise line Seabourn announced the appointment today of Natalya Leahy as the business’s new president. Leahy, whose seven years with Holland America Group included operational oversight of Seabourn, succeeds Josh Leibowitz who is leaving the brand to pursue new opportunities.

Leahy was most recently chief operating officer for Holland America Group serving Princess, Holland America Line, Seabourn, P&O Australia and land operations. Prior to joining the cruise industry, she held various leadership roles with Procter & Gamble and Coca-Cola, supporting iconic brands and new product launches.

As part of a structure to build on the benefit of shared services between Holland America Line and Seabourn, she will report to Gus Antorcha, president of Holland America Line.

“Seabourn has earned a top position in the luxury and expedition cruising space, and Natalya’s expertise, background and proven track record in delivering results is ideal to build on that success,” Antorcha said. “With her leadership and the introduction later this year of our second purpose-built expedition ship, Seabourn Pursuit, I am confident in the future growth of Seabourn.”

“It’s an honor to join the extraordinary Seabourn team and partners who take personal pride in curating transformative, enriching, one-of-a-kind Seabourn moments,” Leahy said. “We have built unmatched luxury experiences at sea that provide life expanding moments for our guests. I am excited to support and work with our trade partners as we continue to surprise and delight our guests in ways they would never imagine.”

Leibowitz oversaw the successful return to service of the Seabourn fleet. He also led the expansion into ultra-luxury expedition voyages with the launch of Seabourn Venture, offering guests opportunities to explore remote destinations in every corner of the world. Leibowitz was instrumental in the relaunch of the Seabourn brand with the award-winning “This Is Your Moment” marketing campaign, to focus on active, affluent travel decision makers. Prior to Seabourn, he served for seven years as chief strategy officer for Carnival Corporation.

“Josh’s leadership in navigating the pause and return to service proved valuable for Seabourn’s future,” Antorcha added. “We appreciate his contributions and wish him well. This business has a bright future with the best in all-inclusive, luxury cruising and now expedition voyages. I look forward to seeing Natalya bring her passion and talent to Seabourn’s success.”

World Dream sold at auction to undisclosed buyer

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 01 March 2023 01 March 2023

World Dream, the last vessel of the collapsed Genting Hong Kong group, has been sold at an auction in Singapore to an undisclosed buyer, media reports say.

A report on tradewindsnews.com says the 150,700 gross ton vessel is now managed by Columbia Cruise Services instead of V Ships Leisure that had been in charge of it since the ship was arrested for debt in late 2020.

The ship’s owner is now stated as World Dream Inc. with the classification society DNV, the report said.

Photo credit: Meyer Werft

RPT - Invitation to our readers to contribute to study on future cruise experience

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 01 March 2023 01 March 2023

NavisSpace – Improving the future cruise experience

Our readers are invited to give their input to a Finnish R & D project on how to improve the cruise experience in the future. Below is a letter that explains the goals of the work and at the bottom of it there is a link to a website where you may give your views. Thank you for your contribution!

The mission of the NavisSpace project is to make a positive contribution to the future cruise experience. This is done by creating new solutions in specific areas, providing new research on cruise vacation sustainability and trying to put the gathered knowledge into work in cruise ship design. The partners of the project are two universities with long traditions in shipping research, Åbo Akademi and Aalto, and a handful of companies serving the cruise industry; the shipyard Meyer, the elevator company Kone, the marine catering supplier Seaking and the Kudos architects specializing in interior design of cruise ships. PBI Research Institute is coordinating the project which will go on until the Summer of 2024.

Our main focus is on finding solutions improving the cruise experience in the fields where the partners in the project have potential to develop value enhancing solutions. These spheres are the public spaces of the ship, the restaurant service as well as the people and goods flow. We will read literature, interview industry participants and crew along searching clues from social media sources, to get a grasp how to add value in our chosen fields. An important source of information will be a survey (link below) that we hope will generate answers from cruise passengers or persons thinking about going on a cruise in the future. With the information gathered, combined with the expertise of our partners, we think that we can create solutions valued by customers and crew and which, in the end, also will benefit the cruise liners.

Sustainability is one thing which can not be discarded when thinking about the world today. Cruise tourism may have sustainability issues, and if these are too severe, they may affect the cruise experience for conscious travelers. Cruise ships are in several sources pointed out to be unsustainable. This conclusion is easily drawn if measures such as emissions per passenger kilometer or mile is used and then compared, for example, to flying. We think this is the wrong comparison, cruising is not so much about moving from one place to another but a destination in itself. Therefore, one task in our project is to investigate how a cruise vacation compares in terms of sustainability issues to other forms of vacations.

Our ultimate goal in NavisSpace is to get the information collected and the developed solutions to be put in to use in ship building. Being a very complex and big endeavor involving high risks, ship building for sure has a long history. How can new ideas and better solutions be incorporated at the early concept and design phases of a new ship is challenge. We will try to alter the process so that it is easier to get the best solutions adopted. This is not an easy task and requires self-interest to be put on hold and trust to be built, but if we are able to create collaborative contracting and incentive structures, there can be much to gain -and not only a better and more sustainable ship but a cheaper one too.

You can be part on this journey by answering the survey on the following link:

https://pbiresearch.eu.qualtrics.com/jfe/form/SV_6M4sTPAGGfP7KJ0

NCLH sees 2023 adjusted EBITDA of up to $1.95 billion

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 28 February 2023 28 February 2023

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping group, said it expects adjusted EBITDA is in the range of $1.80 to $1.95 billion this year as its capacity is expected to increase approximately 19% compared to 2019 including the delivery of three newbuildings.

“Net Per Diem is expected to increase in the range of 8.75 to 10.25% as-reported and 9.00 to 10.50% in Constant Currency versus 2019. Net Yield is expected to increase in the range of 4.75 to 6.25% as-reported and 5.00 to 6.50% in Constant currency,” NCLH said in a statement

NCLH entered the year with a record cumulative booked position of approximately 62% for full year 2023, in line with previously outlined expectations and within the Company’s optimal 60 to 65% range, and at higher prices than 2019 at a similar point in time.

“Booking volumes have accelerated in recent months buoyed by strong WAVE season demand. The Company’s brands achieved several booking records in recent months including at Norwegian Cruise Line, which reached an all-time record booking month in November, boosted by Black Friday and Cyber Monday, which was subsequently exceeded in January 2023,” NCLH said.

“As a result, full year 2023 cumulative booked position is ahead of 2019 levels inclusive of the Company’s approximately 19% increase in capacity, at continued higher pricing. Net booking volumes continue to be at the pace needed to reach historical Occupancy levels for the second quarter of 2023 and beyond,” NCLH stated.

At the end of 2022, the group’s advance ticket sales balance, including the long-term portion, was $2.7 billion, approximately 9% higher than the prior quarter and approximately 30% greater than at year-end 2019. “This includes approximately $144 million of FCCs (future cruise credits) or approximately 5% of the total deposit balance. Approximately 40% of the FCC balance outstanding has been applied to future sailings,” NC:H said.

NCLH reports sharply lower final quarter and full year 2022 loss

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 28 February 2023 28 February 2023

Norwegian Cruise Line Holdings Ltd (NCLH) has reported a sharp reduction in final quarter and full year 2022 loss compared to the previous year as the company gradually ramped up its operations, it said in a statement.

The third largest listed cruise shipping group reported net loss of $480.5 million in the final quarter f 2022 compared to a loss of $1,572.7 million in the same period a year earlier. Operating loss narrowed to $280.9 million from $686.8 million, while revenues rose to $1,519.1 million from $487.4 million.

For the full year, NCLH reported a net loss of 42,269.9 million compared to $4,506.6 million in 2021. Operating loss amounted to $1,551.7 million compared to $2,552.3 million in 2021 as revenues increased to $4,843.7 million from $647.8 million.

Strong ticket pricing and onboard revenue generation resulted in better-than-expected total revenue per Passenger Cruise Day which was up approximately 23% as-reported and approximately 24% in Constant Currency in the fourth quarter of 2022 versus 2019.

Net cash provided by operating activities was approximately $237 million and the company reached another financial inflection point by generating positive Adjusted Free Cash Flow of approximately $71 million for the fourth quarter of 2022, NCLH said in a statement.

Capacity to grow by 50% over 2019

“2022 was an eventful year, as we successfully completed our nearly yearlong Great Cruise Comeback, welcomed our newest ship Norwegian Prima to our world class fleet and achieved several key milestones on our post-pandemic financial recovery,” said Frank Del Rio, president and chief executive officer of NCLH in the statement.

“We are now squarely focused on the future and are taking deliberate and strategic actions to best position the Company for its next chapter, which includes an industry-leading growth profile representing approximately 50% capacity growth over 2019.”

NCLH continued its phased ramp-up in the fourth quarter achieving occupancy ratio of approximately 87%, consistent with previously outlined expectations and with the gap versus 2019 levels continuing to narrow sequentially. “Occupancy is expected to average approximately 100% for the first quarter of 2023 and reach historical occupancy levels for the second quarter of 2023. Full year 2023 Occupancy is expected to reach approximately 103.5%, partially impacted by a lower first quarter due to the phased voyage ramp up,” NCLH said.

With the phased Occupancy ramp up now nearly complete, the company is undertaking a broad and ongoing margin enhancement initiative, focused on both maximizing revenue opportunities and right sizing its cost base, in order to strengthen the foundation for sustained, profitable growth, it said.