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TUI Cruises orders second cruise ship from STX Finland

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 05 November 2012 05 November 2012

TUI Cruises announced today that the company confirms the order of a second cruise ship from STX Finland. The production of the second ship will start in summer 2013 and it will be delivered from STX Finland's Turku Shipyard in spring 2015.

The sophisticated and highly innovative 99,300 GRT cruise ship will be approx. 294 metres long and approx. 36 metres wide. The ship will have 1,250 staterooms, serve 2,500 passengers and have a crew of 1,000 persons. The cruise ship will have many environmentally friendly features, with a particular emphasis on the vessel's energy efficiency.

"We are extremely pleased that TUI Cruises confirmed the order of the sister ship for magnificent Mein Schiff 3 cruise ship. We have today reached this milestone of production start of the first ship after well performed and intensive basic design phase. After this production start, manning on this project will increase significantly during the coming months to reach the maximum level before summer next year", says Jari Anttila, EVP and COO of STX Finland.

"After being just four years in the business and after successfully putting two ships on the market - Mein Schiff 1 and Mein Schiff 2 - we are proud to proceed with building our first new ship and that way continue the growth of our fleet", says Richard J. Vogel, CEO of TUI Cruises. He continues, "We have been extremely busy with the planning over the past two years, but now things are really starting to move."

RCCL raises note offering to $650 million, coupon 5.25%

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 05 November 2012 05 November 2012

Royal Caribbean Cruises Ltd. (RCCL), the second largest cruise shipping group in the world, has increased the amount of 10 year senior unsecuted notes it will offer to $650 million from $500 million.

“The Senior Unsecured Notes were priced at 100% of the principal amount, will bear interest at the rate of 5.250% per annum and will mature on November 15, 2022. The Senior Unsecured Notes are expected to be issued on November 7, 2012,” RCCL said, adding that it plans to use the proceeds from the offering to repay amounts outstanding under its unsecured debt facilities.

RCCL plans to offer $500 million senior 10 year notes

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 02 November 2012 02 November 2012

Royal Caribbean Cruises Ltd (RCCL), the second largest cruise shipping company in the world, said it plans to issue $500 million worth of senior notes that will mature in 2022.

In a document filed with US stock market authorities, the Miami based company had as yet not defined the coupon of the notes nor the price at which they would be offered.

RCCL has indicated that it plans to place an order for third Oasis class vessel of 226,000 gross tons before the end of the year.

Fred. Olsen Cruise Lines stages strong return to profit on lower costs

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 02 November 2012 02 November 2012

Fred. Olsen Cruise Lines Ltd, the Ipswich based company that operates four medium sized ships on the UK market, has staged a strong return to profit on lower costs in the third quarter, according to figures released by its listed parent companies Bonheur ASA and Ganger Rolf ASA.

The company made a net profit of NOK37 million compared to a loss of NOK44 million in the third quarter of last year. Revenues remained largely stable at NK452 million compared to NOK455 million.

In the first nine months of the year, however, losses deepened to NOK40 million from NOK26 million on a weak start of the current year. Revenues also fell slightly, to NOK1.29 billion from NOK1.31 billion.

“Number of passenger days totaled 336 250 (348 654) for the quarter and passenger yields were in line with last year. Lower price on fuel oil and lower operating costs impacted the result positively. Ticket income is currently showing a negative trend,” the statement said.

Strategic pricing programmes helped Norwegian to increase profit

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 31 October 2012 31 October 2012

Strategic pricing programmes were among factors that helped NCL Corporation Ltd, parent company of Norwegian Cruise Line, to improve its profits in the third quarter, the company’s CEO said.

“Posting these great results, despite the challenging economic environment in Europe where we had a record deployment, is a testament to the discipline and rigor instilled at Norwegian to continuously improve quarter after quarter,” said Kevin Sheehan, the Company’s President and Chief Executive Officer.

“Our results reflect strategic pricing programmes, benefits from process improvements and other enhancement initiatives which resulted in a nine percent improvement in operating income,” continued Sheehan.