News

RCCL beats 2013 forecast, net profit rises to $473.6 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 27 January 2014 27 January 2014

Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, has exceeded the forecasts of industry analysts and reported a net profit of $473.6 million for 2013, an increase from $18.3 million in 2012, when impairment charges hit the bottom line.

The fresh figure corresponds with earnings per share (EPS) of $2.40, which exceeded analysts forecast of $2.35. Revenues rose to $7.96 billion from $7.68 billion.

For the final quarter of2013, RCCKL reported net profit of $7.0 million compare to a loss of $392 million the same period last year, while revenues rose to $1.85 billion from $1.80 billion.

Prestige Cruise Holdings to raise $250 million through IPO

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 January 2014 24 January 2014

Prestige Cruise Holdings, parent company of Regent Seven Seas Cruises and Oceania Cruises, has filed with U.S. regulators to raise up to $250 million in an initial public offering of common stock, the Reuters news agency reports.

Prestige is controlled by Apollo Management, the US based private equity company that took the Norwegian Cruise Line group public in 2012-13.

Net proceeds from the offering will be used to repay debt and for working capital purposes, Miami, Florida-based Prestige said, according. to the report

The company's net profit rose to $47.6 million in the nine months ended Sept. 30, from $26.3 million, a year earlier. Revenue rose 7% to $917.4 million.

Fincantieri and Seabourn seal newbuilding deal agreed in October

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 21 January 2014 21 January 2014

Fincantieri, the Italian state owned shipbuilder, and Seabourn, the ultra-luxury brand of Carnival Corporation & plc, the Anglo American cruise shipping group, the world’s leading cruise operator, have announced today the signing of a contract for the construction of an ultra-luxury ship. The order follows last October's letter of intent between the two companies.

"The ship, due to join the Seabourn fleet in the second half of 2016, will be built according to the standards and technical solutions that make Seabourn one of the most prestigious brands in the ultra-luxury segment and will continue the fleet modernization that began in 2009," Fincantieri said.

The all-suite ship will be approximately 40,350 gross tons, 210 metres long and 28 metres wide and will be able to reach a cruising speed of 18.6 knots. It will carry up to 604 guests, accommodated in 302 spacious suites, all with a private balcony.

Safety will be one of this ship's major strong points. It will be built using the very latest technologies, whose standards will exceed the requirements of the relevant legislation. Fuel consumption will be significantly reduced by optimizing the ship's hydrodynamics, the shipbuilder said.