RCCL: final quarter profit beats forecast but books $413.9 million Pullmantur charge
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 04 February 2013 04 February 2013
Royal Caribbean Cruises Ltd. (RCCL), the world’s second largest cruise shipping group, has reported full year 2012 results and provided an initial outlook for 2013.
For the fourth quarter 2012, the group reported net income before impairment charges of $21.1 million, or $0.10 per share, versus income of $36.6 million, or $0.17 per share, in the fourth quarter of 2011. The fersh figure was above the average of $0.06 per share forecast by analysts in New York and Oslo. During the quarter the company recorded non-cash impairment charges totaling $413.9 million related to the company's Pullmantur brand.
Full year 2012 net income before impairment charges was $432.2 million, or $1.97 per share, versus income of $607.4 million, or $2.77 per share for full year 2011. Net Yields increased 3.0% on a Constant-Currency basis; 1.5% As-reported. NCC excluding fuel increased 4.2% on a Constant-Currency basis; 2.7% As-Reported.
Approximately 240 basis points of the Net Yield improvement and approximately 350 basis points of the NCC excluding fuel increases for the year relate to previously announced deployment initiatives and changes to the company's international distribution system. The company does not anticipate meaningful influences on yields or NCC measurements from changes in deployment or international distribution in 2013.
Norwegian to offer $300 million five year notes at 99.451%
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 04 February 2013 04 February 2013
Norwegian Cruise Line, a subsidiary of Norwegian Cruise Line Holdings Ltd that was recently listed on Nasdaq in New York, says it has entered into an agreement to sell $300 million aggregate principal amount of 5.00% senior unsecured notes due February 2018 in connection with a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").
The notes are to be issued at an issue price of 99.451%.
“The Company intends to use the net proceeds from the Offering, together with borrowings under its senior secured revolving credit facilities, to redeem its $450 million 11.75% senior secured notes due 2016,” Norwegian said in a statement.
In Memoriam: Klas Brogren
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 01 February 2013 01 February 2013
Klas Brogren, 57, founder and owner of the Swedish maritime publishing and consultancy company Shippax, has passed away quietly in his home in Halmstad, Sweden on 30 January after a long illness.
Klas was the publisher of Shippax CFI, the monthly magazine previously known as Cruise & Ferry Info with focus on the roro, ferry and cruise industries, plus three annual publications on these sectors of shipping.
Klas worked at Shippax for more than four decades.
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