Top Headlines

Regent Seven Seas stages strong rise in interim earnings on 10% yield increase

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 11 November 2013 11 November 2013

Regent Seven Seas Cruises, the luxury market unit of the Miami based Prestige Cruise Holdings group, has staged a strong rise in both third quarter and January-September net profit on firmer yields.

The company reported third quarter net profit of $32.8 million, compared to $20.9 million in the same period last year, while revenues increased to $165.9 million from $159.0 million. In the first nine months of the year, Regent's net profit rose to $34.3 million from $17.5 million in the same period in 2012 on revenues of $433.0 million, an increase from $411.9 million.

Net Yield for the third quarter of 2013 increased 10.6% $638.08 from $577.00 in the same period in 2012. Net cruise costs, excluding fuel, only rose by 0.2% to $287.15

Frank Del Rio, chairman and CEO said in a statement:“We are pleased to have reached record revenues, Adjusted EBITDA and net income for the third quarter. Along with our financial results, we were also proud to take home Virtuoso's "Best Luxury Cruise Line" honour for the third consecutive year. Both our financial results and market accolades are a reflection of the focus we place on providing our guests with an exceptional experience."

Cruise ships bigger than 96,000 gross tons banned from Venice lagoon from November 2014

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 06 November 2013 06 November 2013

Government officials in Rome on Tuesday ordered a halt to large cruise ships passing through the Venice lagoon, effective from November 2014, and a limit on smaller cruise vessels effective in January, the ANSA news agency reports.

Ferries will also be limited from passing in front of St Mark's Square. As of January, the number of cruise ships with gross tonnage in excess of 40,000 must be reduced to 20% of their current volume in Venetian waters. The outright ban on cruise ships in November 2014 only applies to those over 96,000 gross tons.

“According to the order, cruise traffic will eventually be rerouted through the Contorta Sant'Angelo Canal, so that any accident would not touch the best-known and most vulnerable parts of the city. Environmentalists warn that the lagoon surrounding Venice, itself a UNESCO heritage site, is at great risk due to its fragile ecosystem,” the report said.

The move will mean that Post-Panamax cruise ships can no longer offer a few of St Mark's Square from their decks ass the ships sail in and out of the port.

SeaDream's Pamela Conover resigns

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 05 November 2013 05 November 2013

SeaDream Yacht Club announces the resignation of Pamela Conover as Chief Executive Officer, effective December 4th, 2013. This follows the consolidation of the organization and decision making in Norway. Atle Brynestad, Chairman and Owner of SeaDream will once again assume the role of Chief Executive Officer. Pamela will spend the next month working with Atle to ensure a smooth transition of her duties. Atle Brynestad stated that he respects her decision to leave and thanked her for her contributions to SeaDream.

Carnival appoints Buckelew group COO , Swartz becomes Princess Cruises’ president

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 04 November 2013 04 November 2013

Carnival Corporation & plc says it has appointed Alan Buckelew to the new position of chief operations officer (COO) of the group, while Jan Swartz has been promoted president of Princess Cruises

Buckelew will report to Carnival Corp & plc President and CEO Arnold Donald in his new role. “With his successful track record in both running a brand and as a functional lead, Alan is ideally suited to take on the tasks of this new role,” said Donald.

Buckelew will have oversight of all maritime and port operations around the world and our group collaborative functions, including information technology; group strategy and global operations; ship retrofits; newbuilds; research and development; risk advisory; and quality assurance. Additionally, Buckelew will have oversight of Carnival Asia, with responsibility for coordinating all our brand and related activities in that part of the world.

With a career spanning more than 36 years in the cruise industry, Buckelew has served as chief executive officer of Princess Cruises since June 2007 and as the line’s president since February 2004. In addition he also served as chief operating officer for Cunard Line from 2004 to 2007.

Meanwhile, Princess Cruises today announced that Jan Swartz has been promoted to president of Princess Cruises, effective 1 December, 2013. Reporting to Holland America Group CEO Stein Kruse, Swartz will oversee the Princess line’s worldwide operations which includes 17 ships, 22,000 employees serving more than 1.4 million passengers annually. Princess Cruises has sales, marketing and operational efforts in over 60 countries around the world.

"Jan has been at the forefront of industry innovation for a number of years and is highly regarded amongst her peers," Kruse said.

Carnival group’s Frank to step down, Kruse becomes ceo of new Holland America Group

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 04 November 2013 04 November 2013

Carnival Corporation & plc, the world’s largest cruise shipping company, said Howard Frank would step down from his current positions to assume an advisory role, while Stein Kruse would become CEO of newly created Holland America Group adding Princess Cruises and Holland America Princess Alaska land operations to his current responsibilities of Holland America Line and Seabourn.

Frank would remain as chairman of CLIA. "We are greatly appreciative of Howard’s commitment to provide ongoing counsel, advice and industry leadership, as he enters this next stage," said Arnold Donald, CEO of Carnival Corporation & plc.

Micky Arison, chairman of Carnival Corporation & plc, added, "For the last 25 years, Howard and I have worked side by side and I could not have asked for a better business partner. I am looking forward to his continued contributions in his new role."

Also effective 1 December, 2013, Stein Kruse, currently president and CEO of Holland America Line, is being appointed CEO of the Holland America Group, adding Princess Cruises and Holland America Princess Alaska land operations to his current responsibilities of Holland America Line and Seabourn.

Kruse will report to Carnival Corporation & plc President and CEO Arnold Donald. "This is an exciting expanded opportunity for Stein and the experience and track record of effective leadership he brings to it bodes well for our future," said Donald.

In his expanded role, effective 1 December, Kruse also will replace Micky Arison as chairman of the board of MANCO, the UK-based entity which oversees operations of Carnival Australia including P&O Cruises, the number one cruise line in the Australian market.