Royal Caribbean Group to help Finland towards sustainable shipbuilding

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Written by Kari Reinikainen Kari Reinikainen

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Published: 14 December 2022 14 December 2022

Royal Caribbean Group said it has signed a maritime declaration with the Finnish government, represented by the Ministry of Economic Affairs and Employment (MEAE) and Meyer Turku Oy, to chart the way forward for innovative and sustainable shipbuilding in Finland. The commitment is set to advance innovation, strengthen competitiveness and bolster the maritime industry's ecosystem, the company said in a statement.

"Our partners in Finland have helped us deliver some of the world's most impressive and sustainable ships of their time, including our newest ship debuting in January 2024, Icon of the Seas," said Jason Liberty, president and CEO of Royal Caribbean Group. "This new partnership sets the stage for future innovations and allows us and the maritime industry to continue pursuing sustainability at the highest level."

The declaration announces the following actions:

• Preparing a roadmap for the production of climate-neutral ships in Finland. The roadmap is part of the maritime industry's green transition.
• Strengthening the innovation of Meyer Turku, Royal Caribbean Group and the maritime industry.
• Supporting networking to curb economic challenges, develop new solutions and secure the long-term viability of the maritime industry.
• Assembling a digital demonstration of a climate-neutral ship as part of the sustainable maritime industry development program of the Ministry of Labor and Economy.
• Strengthening the innovation of Meyer Turku, Royal Caribbean Group and the maritime industry.
• Piloting and testing new innovations and technologies on Royal Caribbean Group ships.

This partnership also advances Royal Caribbean Group's Destination Net Zero strategy to decarbonize its operations by 2050 and its near- and medium-term targets, including reducing carbon intensity by double digits by 2025 compared to 2019 and the introduction of a net-zero cruise ship by 2035. 

The declaration comes on the heels of another major milestone for Royal Caribbean. On Friday, Dec. 9, the revolutionary, new vacation, Icon of the Seas, reached its next phase of construction ahead of its iconic January 2024 debut. The new ship floated on water for the first time since the assembly began nine months ago at Meyer Turku shipyard in Turku, Finland. Icon will join the company's Royal Caribbean International cruise line and its lineup of industry-leading ships, becoming the brand's most sustainable ship to date and the crown jewel of shipbuilding in the Finnish maritime industry.

"The Finnish maritime ecosystem is built on the innovativeness, expertise and skills of the thousands of leading shipbuilders at Meyer Turku, and Icon of the Seas is the latest example of what can be built here in Finland," said Mika Lintilä, Finland's Ministry of Economic Affairs. "This new declaration will secure a future in which the maritime industry continues to make strides in our decarbonization goals and economic growth priorities for years to come."

The company also has agreements with the shipyard to build the unnamed second and third ships in the Icon Class for its Royal Caribbean International brand, and Mein Schiff 7, which is currently under construction for the company's TUI Cruises brand.

P&O Cruises team up with Time Out

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Written by Kari Reinikainen Kari Reinikainen

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Published: 14 December 2022 14 December 2022

 

P&O Cruises, the UK focused contemporary market unit of Carnival Corporation & plc, said Time Out is its exclusive new exploration partner becoming a prime provider of travel content across all destinations.

“The partnership will see Time Out’s expert team of journalists create bespoke content featuring the best things to do, see and eat in destination. The content will be aimed at attracting a new audience of guests who have yet to consider a cruise holiday and will also be developed to enrich the experience of existing guests. In addition, it will connect P&O Cruises with Time Out’s existing audience of avid travellers,” the company said in a statement.

The first campaign as part of this partnership taps into an emerging travel trend amongst holidaymakers wanting to travel authentically whilst not compromising on comfort. The campaign focuses on how a P&O Cruises holiday allows guests to uncover destinations authentically like a local while travelling in style. Through content created by expert journalists (launched over the next year in a phased campaign), local knowledge and high-impact imagery, it unveils the hidden gems guests can explore on a P&O Cruises holiday and will include:

• A digital content hub on Time Out with features, quizzes and local guides, providing the insider secrets into P&O Cruises destinations. As part of the content, an interactive ‘Scrap the Tourist Trap’ quiz will allow travellers to build a personalised bucket list of things to do while they are in each destination. 
• A ‘Detour’ video series which profiles local people, from shop and restaurant owners to entertainers and reveals their personal recommendations.
• A ‘Detour’ guide in print form for guests on board a P&O Cruises holiday.
• Time Out & P&O Cruises email newsletters.
• Time Out & P&O Cruises collaborative social amplification of the content.

P&O Cruises president Paul Ludlow said: “We are delighted to launch our new exploration partnership with Time Out, which will tap into their global expertise and heritage in authentic cultural and travel experiences. Time Out’s unique and trusted content will resonate with a new audience who may never have considered a cruise holiday before but will also provide existing guests with expert advice on how to make the most of their time in destinations.”

Time Out Media’s director, strategic client partnerships, Gareth Thomas said: “We are very excited about working with P&O Cruises on a partnership that will take a long-term editorial approach. We will create content for new destinations as they come on board to enable P&O Cruises holidaymakers, both existing and new, to access the inside track on places.

 

Global Ports Holding says strong recovery of cruising continues despite challenging economic outlook

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Written by Kari Reinikainen Kari Reinikainen

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Published: 13 December 2022 13 December 2022

Global Ports Holding GPH), the Istanbul based and London listed company that is the world’s largest cruise port operator, said the cruise industry continues a rapid recovery from the Covid-19 pandemic, despite a generally challenging economic outlook.

The company said that while the cruise lines recovery plans mean some itineraries remain different from pre-Covid patterns, the vast majority of the global cruise fleet is now sailing, with only industry occupancy rates left to recover to pre-Covid levels.

It noted that despite a material weakening in the global economic outlook in recent months, booking volumes across the industry remain comfortably within historical ranges and the outlook for the cruise industry in calendar year 2023 and beyond remains positive. “Typically, the longer lead time on bookings has provided significant protection to the cruise industry during periods of macro stress, with passenger volumes rarely negatively impacted, GPH said in a statement.

“Currently, occupancy rates in the Caribbean cruise market are generally at or close to 100%, with occupancy levels in the European cruise market lagging behind those experienced in the Caribbean. The major cruise lines currently expect occupancy rates in the European cruise market to return to pre-pandemic levels by summer 2023,” the company said.

“At GPH's ports year-to-date, we have experienced higher than expected passenger volumes, driven by a faster recovery in occupancy rates across our port network. As a result, we now expect to report for the financial year ended 31 March 2023 passenger volumes of over 8m (including Las Palmas) and Adjusted EBITDA in excess of $60.0m, ahead of current market expectations,” GPH said.

Mehmet Kutman, Chairman and Chief Executive Officer, said: “The strong performance is testament to the strength of our business model and the successful delivery of our strategic goals. Year-to-date, we have experienced higher than expected passenger volumes, driven by a faster recovery in occupancy rates across our port network. As a result, we now expect to report Adjusted EBITDA for the financial year ended 31 March 2023 in excess of USD 60.0m, ahead of current market expectations.”

Swan Hellenic acquires SH Diana from Helsinki Shipyard

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Written by Teijo Niemelä Teijo Niemelä

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Published: 12 December 2022 12 December 2022

Helsinki Shipyard, having received bids for the auction of NB 518, today announced that Swan Hellenic has been awarded the tender.

Helsinki Shipyard exercised the right to sell the ship by tender, provided for by the shipbuilding contract, after the original buyer failed to take delivery of the ship. The auction ended at midnight on Friday the 9th of December and was satisfactory for Helsinki Shipyard, which analysed the bids and declared Swan Hellenic the winner.

The shipyard and Swan Hellenic will now enter into a new agreement for the completion of the vessel, which is scheduled to be delivered to Swan Hellenic in March 2023, in time to start cultural expedition cruises of the Mediterranean from the beginning of April as planned.

Andrea Zito, CEO of Swan Hellenic Limited, said: "We are happy to have secured SH Diana, a Polar Class PC6 vessel with state-of-the-art ship technology and sustainability that will enter service as planned in April. We look forward to welcoming our guests aboard SH Diana to experience our cultural expedition cruises in the historic regions for which they were first conceived.

Kim Salmi, Helsinki Shipyard’s CEO says: “The shipyard is satisfied with multiple inquiries and received bids. We are also happy to announce Swan Hellenic as winner of the tender, as it naturally helps next step, the fast agreement and continuation of works for completion of the vessel according to the plan in March."