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Crystal Cruises postpones Exclusive class launch by three years to 2022

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 01 November 2016 01 November 2016

Crystal Cruises, the Los Angeles based luxury cruise unit in the Genting Hong Kong group, says it has postponed the introduction of the first 117,000 gross ton Exclusive class ship by three years to 2022 and introduce three 22,500 gross ton expedition mega yachts before that ship.

"In the first quarter of 2022, Crystal will introduce the first Crystal Exclusive Class™ ocean ship that will set a new standard of luxury travel with signature features and guest amenities, and boast luxurious Crystal Residences, allowing travelers to literally call a Crystal ship home,” the company said in a statement.

On the crystalthenextchapter.com website the launch of the first of planned three Exclusive class ship is given as the autumn of 2019. All the company’s vessels, including river yachts, are to be buiult at the MV-Werften shipyard in Germany that Genting Hong Kong owns.

Crystal said in the statement it would introduce at least one new brand experience per year through 2022, with a newly developed timeline as follows:

2017: Crystal Bach and Crystal Mahler launch; Crystal AirCruises takes flight; Crystal Symphony enhancements and Crystal Luxury Air debuts second Global Express Jet.

2018: Crystal Debussy and Crystal Ravel launch; Crystal Serenity enhancements.

2019: Crystal Endeavor expedition mega-yacht launch.

2020: Second Crystal expedition mega-yacht to launch.

2021: Third Crystal expedition mega-yacht to launch.

2022: Crystal Exclusive Class™ with Crystal Residences debuts

RCCL says next year's inventory booked ahead of last year; on track with Double-Double

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 October 2016 28 October 2016

Royal Caribbean Cruises, Ltd (RCCL), the world’s second largest cruise shipping group, said its 2017 inventory has sold better than what was the situation regarding this year 12 months ago and that it is on track with its Double-Double goals.

“At this time, 2017 itineraries are booked ahead of last year in both rate and volume. New ships including Harmony of the Seas and Ovation of the Seas are seeing strong trends, supporting a solid outlook for 2017,” the company said in a statement.

This refers to the multi-year Adjusted EPS (earnings per share) and Return on Invested Capital (ROIC) goals RCCL publicly announced in 2014 and are seeking to achieve by the end of 2017.

Under this programme, RCCL is targeting Adjusted EPS of at least $6.78 by the end of 2017, which is double its 2014 Adjusted EPS of $3.39. The company is also targeting ROIC of at least 10% also by the end of 2017.

"Next year marks the finish line for the Double-Double and we are looking forward to a strong finish to this chapter in our continuous journey of rising shareholder returns," said Richard D. Fain, chairman and chief executive officer.

"New hardware, continued strength onboard, along with continued cost discipline and a highly motivated team over 65,000 strong is proving to be a winning combination," he said in a statement.

RCCL retains 2016 EPS guidance of $6.00 to $6.10 unchanged

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 October 2016 28 October 2016

Royal Caribbean Cruises, Ltd. (RCCL), the world second largest cruise shipping group, says it has retained its guidance for eanings per share (EPS) unchanged for the current year.

“The company maintains full year Adjusted EPS guidance of $6.00 to $6.10 per share. Constant-Currency Net Yields are expected to be up 4.0% or better for the full year,” it said in a statement.

The figure for 2015 was $4.83, which again was an improvement of 42% on the previous year.

Strong close-in demand for North American itineraries in the third quarter is helping offset an impact from the delayed opening of Empress of the Seas sailings during the fourth quarter.

Net cruise costs (NCC) excluding fuel are expected to be up approximately 1.0% on a Constant-Currency basis, in-line with previous guidance.

"Our strong booked position and continued focus on effective cost management is expected to keep full year earnings ahead of initial guidance and positions us well for the Double-Double in 2017," said Jason T. Liberty, chief financial officer, in a statement.

"Minor operational variations are causing some timing shifts between quarters, but the overall market and our overall results remain unchanged from our last guidance," he said.

RCCL reports steady third quarter net profit

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 October 2016 28 October 2016

Royal Caribbean Cruises, Ltd. (RCCL), the world second largest cruise shipping group, has reported a steady net profit for the third quarter compared to the same period last year, if an impairment charge it booked at that time is eliminated.

Group net profit rose to $693.2 million in the June to September period from $228.7 million in the same period last year, when an impairment chage3 of $411 million depressed the bottom line. Revenues rose slightly, to $2.56 billion from $2.52 billion.

For the first nine months of the year, the group reported a net profit of $1.18 billion, almost double the $624.9 million figure it reached in the same period last year, but the $411 million impairment charge hit the latter fire as well. Revenues rose to $6.59 billion from $6.39 billion.

“Net Yields were up 2.9% on a Constant-Currency basis (up 0.4%, As-Reported), better than guidance driven mainly by strong close-in demand for North American itineraries. Net Cruise Costs ("NCC") excluding fuel were down 1.6% on a Constant-Currency basis (down 2.0%, As-Reported), in line with guidance,” the company said in a statement.

Fred. Olsen Cruise Lines’ profit rises in third quarter and nine months

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 28 October 2016 28 October 2016

Fred. Olsen Cruise Lines, the destination focused operator of four medium sized vessels on the British market, has reported an increase in net profit for both the third quarter and the first nine months of the year compared to corresponding periods last year.

In the third quarter, its net profit rose to NOK127 million from NOK123 million despite a slight decrease in revenues, which fell to NOK622 million from NOK647 million, said Bonheur ASA, the Oslo listed holding company controlled by the Olsen family which owns the Ipswich based cruise line.

The British pound weakened by 14% against the krone, but net per diems rose by 10% in the review period, Bonheur said.

In the first nine months of the year, the net profit reached NOK190 million compared to NOk141 million in the same period last year, while revenues rose a fraction, to NOK1.67 billion from NOK1.66 billion.

Earlier this week, Fred. Olsen Cruise Lines said it would invest millions of pounds to upgrade its fleet, starting with black Watch that will enter dry dock in Germany next month.