MV Werften lays keel of two Crystal Cruises’ river yachts

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 22 August 2016 22 August 2016

Crystal River Cruises took a step toward expanding fleet on Friday, as the keel was laid for the company’s first two new build vessels, Crystal Bach and Crystal Mahler. During a ceremony at MV Werften shipyard in Wismar, building of the “Rhine Class” luxury river yachts officially commenced.

In summer 2017, the two vessels are set to embark on their maiden voyages along Europe’s mightiest rivers: the Rhine, Main and Danube.

In the presence of Tan Sri Lim, Chairman of Crystal parent company Genting Hong Kong; Edie Rodriguez, Crystal’s CEO and president; and Erwin Sellering, Prime Minister of the State of Mecklenburg-Vorpommern, plus numerous guests, the first sections of the ships were ceremoniously lowered into position on keel blocks.

“This keel laying marks an important milestone for us. These river yachts are not only the first brand new vessels under the Crystal River Cruises brand, but also the first constructed in our very own shipyard,” said Genting Chairman Tan Sri Lim, in a statement.

Cruise & Maritime Voyages to send Columbus around the world in 2018

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 20 August 2016 20 August 2016

Cruise & Maritime Voyages (CMV), the UK based destinational cruise line, will send its largest ship around the world in2018. The 64,500 gross ton Columbus, which is currently sailing ass Pacific Pearl for P&O Cruises Australia, will operate a 121 night westbound voyage from London Tilbury, starting on 5 January 2018. Columbus is due to enter service with CMV next summer. In 2017, the line will send Magellan, currently its largest ship with a gross tonnage of 46,052, on a similar voyage.

Viking Line issues profit warning as second quarter profit dips

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 18 August 2016 18 August 2016

Viking Line, the listed Finnish cruise ferry operator, has issued a profit warning, saying that its 2016 operating result would be lower than last year compare to a previous forecast of somewhat lower following a dip in second quarter earnings.

Group net profit fell to €1.6 million in the second quarter from €2.5 million in the same period last year, while revenues fell to €131.1 million from €134.1 million.

In the first six months of the year, the company made a net loss of €8.9 million compared to a €5.7 million loss in the same period last year. Revenues fell by €1.0 million to €238.0 million.

The number of passengers carried in the second quarter was unchanged at 2.90 million from a year ago and the number of freight units also remained stable, at about 67,000. Passenger-related revenue increased by 0.6 % to €214.0 million (212.8 million second quarter 2015), while cargo revenue decreased by 7.2% to €22.5 million (€24.3 million),” the company said in a statement.

“The Group’s vessels served the same routes as during 2015. The extensive vessel modernizations that were carried out during the spring caused longer service interruptions than normal, which adversely affected the Group’s market share,” Viking Line said.

“Competition in Viking Line’s service area means there is greater pressure on prices as well as volumes. The economic trend in Finland is still an uncertainty factor. However, the bunker price has so far had a favourable effect on earnings. The Board of Directors' assessment is now that operating income will be lower in 2016 than in 2015. The Board’s previous assessment was that operating income would be somewhat lower,” the company concluded.

In 2015, Viking Line’s operating income (EBIT) was €26.4 million and net profit €18.7 million.

Palfinger withdraws offer to buy TTS on low acceptance of bid

Details

Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 17 August 2016 17 August 2016

Palfinger Marine GmbH says has not received acceptances for more than 90% of the shares in TTS, the listed Norwegian marine equipment supplier, on a fully diluted basis and that the offer will not be completed.

“At expiry of the acceptance period, Palfinger had not received acceptances of the Offer exceeding more than 90% on a fully diluted basis, being one of the closing conditions of the Offer as further described in the Offer Document. As a result, Palfinger will not complete the Offer,” Palfinger, which is based in Austria, said in a statement.

“Shareholders in TTS who have accepted the Offer are released from their acceptances, and bondholders under TTS's existing bond loan having entered into separate undertakings towards Palfinger are released from their undertakings,” the company said.