News

Nicko Cruises in insolvency protection

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 06 May 2015 06 May 2015

The Stuttgart-based Nicko Cruises GmbH, a river cruise specialist, has applied for insolvency proceedings at Amtsgericht Stuttgart. Alan Lam reports.

With notable presence on the Danube, the Rhine, the Yangtze, the Ganges, the Mekong and most other well-known rivers around the world, Nicko has been the leading river cruise operator in the German-speaking market.

Formerly known as Nicko Tours, Nicko Cruises employs about 100 direct employees. According to the company, which was founded in 1992 as an organiser of tours to Russia, the political crisis in Russia and Ukraine has contributed to its downfall.

Nicko has also struggled to balance its book after the devastating floods in the spring of 2013. Both of these factors have helped to bring about a sharp decline in bookings and they in turn have led to its current over-indebtedness.

This latest in a series of cruise business insolvencies that highlight a possible structural problem in the German cruises market, the second biggest in the world and the fastest growing in Europe. It may suggest that the river cruise sector in Germany may have over-exerted itself in its recent unbridled expansion.

Princess Cruises' next new ship to be based in China year round

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 06 May 2015 06 May 2015

Carnival Corporation & plc, the largest cruise company in the world, announced that the new ship currently under construction for Princess Cruises will be based in China year-round when introduced in summer 2017. Based in Shanghai, the ship will be the first year-round international luxury vessel designed and built specifically for Chinese guests.

The as-yet-unnamed ship is being built at the Fincantieri shipyard in Italy, and will carry approximately 3,600 guests on a variety of itineraries, to be announced at a later date. Based on the design of its highly-acclaimed ships Royal Princess and Regal Princess, the new vessel will feature a number of new innovations customized for the growing number of Chinese cruise vacationers.

“Deploying our next new ship in China underscores our strong commitment to growing the China cruise market and providing discerning travelers with amazing vacation experiences at sea,” said Jan Swartz, president of Princess Cruises.

Princess ships began homeport cruising in China just last year, with a successful inaugural season of Shanghai-based cruises aboard Sapphire Princess. This ship returns for a second China season which begins on June 4 and runs through October 2015.

The ship will be based on the design of the company’s new Royal Princess and Regal Princess which have been enthusiastically received by guests from all over the world for their luxurious and beautifully-designed spaces, array of entertainment and activity options, and multiple culinary venues.

The new ship will share many of these special features which include a dramatic multi-story atrium serving as the social hub of the ship; an over-the-ocean SeaWalk, a top-deck glass-bottomed walkway extending 28 feet beyond the edge of the ship; the Princess Live! interactive studio; the largest pastry shop at sea; a special Chef’s Table Lumiere, a private dining experience that surrounds diners in a curtain of light; Princess Watercolor Fantasy, a fountain and music show; Movies Under the Stars featuring the largest outdoor screen at sea; and balconies on all outside staterooms. Accommodations will be configured to appeal to families and multi-generational travelers.

In addition, the new ship will showcase the exclusive Princess Class experience designed specifically for the Chinese market that the company introduced during its first season. Delivered by the ship’s dedicated and caring crew, Princess Class enriches the travel experience of each cruise guest, enabling them to participate in unique cultural, culinary, entertaining and inspiring programs including the World Leaders Dinner, traditional English afternoon tea, a Lobster Grill, Ultimate Balcony Dining, an ocean-view hot pot dinner option, ballroom dancing, and an unparalleled duty-free shopping experience.

Additionally guests will enjoy the international flavor of cruising with Princess, including experiencing cuisines from China, Japan, Italy, France, and North and South America among other regions; as well as an array of international festivals re-created to celebrate cultures around the world.

“And as this ship is still in the design phase we are looking forward to creating other new and exciting venues and experiences catering to the Chinese vacationer, which we will reveal in the coming months,” Swartz added.

NYK's cruise operations triple profit

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 30 April 2015 30 April 2015

Cruise operations of Nippon Yusen Kabushiki Kaisha (NYK), the Japanese shipping giant, tripled in the financial year to 30 March 2015, the company said in a statement.

Recurring profit reached JPY 2.1 billion compared to JPY 0.7 billion in the previous 12 month period. Revenues rose to JPY 49.8 billion from JPY 45.2 billion.

"Crystal Cruises in North America performed well in world cruises and cruises to European destinations, and Asuka Cruises also performed favourably in key summer and New Year’s cruises," NYK said.

The company has agreed to sell Crystal Cruises to Genting Hong Kong that owns Star Cruises. The two cruise shipping companies will maintain separate identities and management.