Repercussions From Damaged Ship Propeller Expected to Drive Down RCCL's 2Q Profits

Tuesday, June 05, 2001
Celebrity Cruises said on Monday it expects the cancellation of a 14-day European voyage as a result of a damaged ship propeller to drag down second-quarter profits of parent Royal Caribbean Cruises Ltd.

The company said repairs, refunds and other compensation to the 1,696 passengers aboard its Galaxy ship will hurt Royal Caribbean's profits for the quarter by $.04 to $0.5 a share. Analysts had on average estimated earnings for Royal Caribbean, the world's number two cruise group behind Carnival Corp., at $.40 a share.

Celebrity canceled the cruise so a damaged propeller on the Galaxy can be repaired, spokeswoman Lynn Martenstein said.

Celebrity staff continued to investigate, but suspect Galaxy's port propeller was damaged on Saturday as the 858-ft. (261.5-m) ship moved through a lock in Holland, according to Martenstein.

A diver found one eight-foot (2.43-m) blade was bent and three others, each weighing 3.5 tons, were scratched.

Galaxy, which returned to port in Amsterdam over the weekend, will enter dry dock on Wednesday at the Blohm & Voss yard in Hamburg, Germany, to fix the propeller, one of two on the ship, Martenstein said. Galaxy should resume sailing on June 16. "This is a pretty easy fix," Martenstein said. "We have all the materials on hand."

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Cause of S.Korea Ferry Businessman's Death Remains Unknown

Yoo's body too badly decomposed to determine cause of death; mystery surrounding final days of de-factor owner of doomed ferry deepens. Yoo's son arrested in latest capture of family members.

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just one day away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's

Cruise Ship Trends

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Concordia Tow Update: Smooth Sailing

The Costa Concordia wreck removal team reported this morning at 10:30 a.m. that after 22 hours of navigation, the convoy was over 50 miles off Giglio Island with about 140 miles from Genoa Prà-Voltri.

Royal Caribbean Profit Jumps on Higher European Demand

Royal Caribbean Cruises Ltd's quarterly profit beat analysts' average estimate as demand for its European and Chinese cruises increased and passengers spent more on board,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1701 sec (6 req/sec)