Top Headlines

Viking Cruises to operate in the Mediterranean also on winter 2015-16

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 02 October 2013 02 October 2013

Viking Cruises (www.vikingcruises.com) yesterday announced the full slate of 2015 Mediterranean itineraries for the new Viking Star, as well as select 2016 sailings. The move will keep Viking Star in the Mediterranean, offering additional sailings to some of Europe’s most beautiful and historic cities, from Rome to Barcelona. Responding to the overwhelming demand for Viking Star’s maiden voyages in the Mediterranean offered earlier for the spring and summer of 2015, the new winter cruises will allow guests to explore the vibrant cultures and sites along the Mediterranean in the quiet season, in keeping with Viking’s promise to provide guests with a unique cruise experience. Due to the popularity of the nearly-sold out 2015 maiden voyages, select 2016 itineraries for Viking Star are now also available for booking.

"We are pleased to announce additional cruises in the Mediterranean that will allow guests to experience some of the most beautiful cities in Europe during the quiet season the way the locals do," said Torstein Hagen, Chairman of Viking Cruises. "Our Mediterranean ocean itineraries have sold at an unprecedented rate; consumers are responding enthusiastically to this attractive region and the carefully-designed itineraries that offer our guests the opportunity to explore this historically fascinating region by letting them get closer to the historical sites, people and traditions in ways they have never experienced before."

New Mediterranean itineraries

The overwhelming popularity of Viking Star’s maiden voyages resulted in the addition of the winter 2015 Mediterranean itineraries. By highlighting more unique locations, such as Malta, Sicily, Sardinia, and Algiers – and crafting experiences that take advantage of the post-tourist season – the new itineraries showcase the Mediterranean in a way that many travelers have never witnessed. By sailing in the winter months, Viking Star’s guests will see an entirely different Europe – quieter and more contemplative, all while soaking up the splendor of the region during this special time of year.

– Romantic Mediterranean (8 days; Barcelona – Rome) – While sailing along some of the most beautiful coastlines in the world, this itinerary offers a perfect mix of glamour, rustic pleasures and memorable landscapes with visits to Toulon, Corsica and Monte Carlo, France; the Tuscan region of Italy; plus overnights in Barcelona and Rome. Introductory 2-for-1 pricing starts at $1,999 per person with discounted airfares from $595 per person.

– Mediterranean Getaway (8 days; Rome – Barcelona) – Explore historically significant sites and vibrant cities of the southern Mediterranean with destinations that include Rome, Naples (and Pompeii), Sicily and Sardinia in Italy; Tunis, Tunisia (and Carthage); and Palma de Mallorca, Valencia and Barcelona in Spain. Introductory 2-for-1 pricing starts at $1,999 per person with discounted airfares from $595 per person.

– Mediterranean Explorer (15 days; Barcelona – Barcelona) – Combining the Romantic Mediterranean and Mediterranean Getaway, this itinerary features fabled ancient cities, medieval wonders and iconic sites that include Toulon, Monte Carlo and Corsica in France; Tuscany, Naples (and Pompeii), Sicily and Sardinia in Italy; Tunis, Tunisia (and Carthage); Palma de Mallorca and Valencia in Spain; plus overnights in Barcelona and Rome. Introductory 2-for-1 pricing starts at $3,849 per person with discounted airfares from $595 per person.

– Grand Mediterranean Tour (15 days; Barcelona – Barcelona) – Sun-kissed shores and new places to discover await on this voyage that begins with an overnight in Barcelona and includes an overnight in Rome. Stops include Monte Carlo, Toulon and Corsica in France; Tuscany and Sardinia in Italy; Tunis, Tunisia and Valencia, Spain; plus off-the-beaten path visits to Valletta, Malta and Algiers, Algeria. Introductory 2-for-1 pricing starts at $3,849 per person with discounted airfares from $595 per person.

Viking’s Ocean Cruises

In May 2013, Viking Cruises announced the launch of its ocean cruise product line, which will begin sailing in May 2015 with the brand-new Viking Star embarking her maiden voyages in Scandinavia and the Baltic; and then she will also sail in the Western and Eastern Mediterranean. The launch affirmed Viking Cruises’ continued commitment to providing unique cruising journeys for the experienced traveler. Viking’s ocean cruises offer a small-ship experience via an intimate, custom-designed vessel that allows travelers to get closer than ever to their destinations. As well, the line offers itineraries highlighting history, art and culture while giving maximized time in port, privileged-access excursions and onboard experiences that truly immerse guests in the local culture. Since announcing itineraries for the 2015 Viking Star maiden voyages, cabins have sold at a rapid rate, due to overwhelming interest in Viking’s small-ship, destination-focused ocean cruises.

SATS to acquire Singapore Cruise Centre for S$110 million

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 26 September 2013 26 September 2013

SATS today announced that it has through its subsidiaries, SATS Airport Services and SATS-Creuers Cruise Services (SATS-Creuers), entered into a share purchase agreement to acquire the entire issued share capital of Singapore Cruise Centre for S$110 million from Temasek.

Singapore Cruise Centre is a Singapore-based terminal operator which manages and operates the award-winning international cruise terminal and regional ferry terminal at HarbourFront Centre, along with the two ferry terminals at Tanah Merah and Pasir Panjang. It has a strong cash-generative and profitable business, reporting revenue of S$45 million and profit before tax of S$16.7 million for the financial year ended 31 March 2013.

SATS-Creuers is a 60:40 joint venture formed by SATS Airport Services, a wholly-owned subsidiary of SATS, and Creuers del Port de Barcelona (Creuers), to manage and operate the Marina Bay Cruise Centre Singapore.

Mr. Tan Chuan Lye, SATS President and Chief Executive Officer said: "This transaction represents a unique opportunity, both for SATS and for Singapore. Singapore Cruise Centre has a compelling fit with our existing cruise handling and terminal operations. Together with our strong partnership with Creuers, this transaction will enable us to grow our gateway services business, which in turn will benefit the cruise industry here as a whole."

"The future is bright for the cruise industry in Asia Pacific. The combined entity can leverage our regional airport presence to facilitate and provide a seamless travel experience for Fly-Cruise passengers. This will bolster Singapore’s position as an attractive regional cruise hub and homeport for cruise lines which in turn will benefit the economy."

Carnival shares fall sharply after interims

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

Shares in both Carnival Corp and Carnival plc, the two holding companies in the Anglo-American Carnival Corp & plc group, fell heavily after the group had reported a fall in third quarter interim profit and warned that net yields would continue to fall into early next year.

At 1515 local time in London, the Carnival plc stock traded at £22.70, down 5.1%, after hitting a days low of £2239 earlier in the session,. The 52-week high and low for the stock are £20.17 and £26.38, respectively.

In New York, Carnival Corp had lost 7.35% to $34.64, with the session’s low at $34.43. In the past 52 weeks, the price hit a high at $39.55 and low at $32.06.

Carnival Cruise Lines underperforms group peers, group expects yields to fall 3% in 2013 and early 2014

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

Carnival Cruise Lines, the US focused contemporary market brand in the Carnival Corp & plc group, underperforms other brands of the group in terms of booking levels, while on the group level, yields are forecast to fall 3% in 2013 year on and by about the same amount early next year, Carnival said in a statement.

At this time, cumulative advance bookings for the remainder of 2013 and the first half of 2014 are behind the prior year at prices in line with prior year levels. “Since June, fleetwide booking volumes for the next three quarters, excluding Carnival Cruise Lines, are running in line with the prior year at higher prices. Booking volumes for Carnival Cruise Lines during the same period are running behind the prior year at lower prices< Carnival said.

Arnold W. Donald, group ceo noted: "During the past few months, Carnival Cruise Lines has seen a steady improvement in brand perception among U.S. consumers based on national market research data." He added that Carnival Cruise Lines continues to undertake a variety of brand building initiatives including a major travel agent outreach program which commenced in June, the introduction of a new vacation guarantee earlier this month and the launch of a new major marketing campaign that debuted yesterday with national TV spots airing on network primetime programming.”

The company expects full year 2013 net revenue yields, on a constant dollar basis to be down approximately 3% compared to the prior year, toward the lower end of the June guidance range due in part to ongoing geopolitical events in portions of the Eastern Mediterranean region. Excluding fuel and impairments, the company expects full year net cruise costs per ALBD to be higher by 4 percent compared to the prior year on a constant dollar basis, which is at the better end of the June guidance range. In addition, higher fuel prices are expected to reduce full year 2013 earnings by $0.04 per share compared to June guidance.

Taking the above factors into consideration, the company forecasts full year 2013 non-GAAP diluted earnings per share to be in the range of $1.51 to $1.57, the mid-point of which is in line with June guidance.

For the first half of 2014, we presently estimate revenue yields will be down in a range similar to the back half of 2013. For the full year 2014, net cruise costs excluding fuel per ALBD are expected to be up in a range similar to 2013.

Carnival third quarter net profit falls to $934 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

Carnival Corp & plc, the world’s largest cruise shipping group, has reported third quarter net profit of $934 million, down from $1.33 billion in the same period last year, on revenues of $4.73 billion, up from $4.68 billion a year befotre.

The group’s financial year ends on 30 November.

For the first six months, the profit fell to $1.01 billion from $1.20 billion, while revenues remained stable at $11.80 billion.

“While some of our current challenges and cost pressures will continue well into next year, we have tremendous opportunities to enhance shareholder value over time,” said group ceo Arnold W. Donald in a statement.

"Asia is a key focus of our international expansion. During the third quarter, we opened five additional sales offices in China, following the establishment of a corporate office in Singapore earlier this year," said Donald.

He added that Princess Cruises recently announced plans to homeport Sapphire Princess in China for a four-month season beginning in May 2014, bringing the total to five vessels in the region next year dedicated to guests sourced from Asia.

Earlier this month, the company announced it had received the support of the U.S. Environmental Protection Agency, the U.S. Coast Guard and Transport Canada to implement a leading edge "scrubber" technology designed to reduce air emissions on 32 ships. "The company has been a partner in the development of the scrubber technology and will take the lead in further refining both the scrubber design and installation process over the next few years. In addition to exceeding stricter air emission standards, this technology will help us mitigate escalating fuel costs," said Donald.