Royal Caribbean Reports 1Q Results

Wednesday, April 24, 2002
Royal Caribbean Cruises Ltd. reported that its net income for the first quarter was $53 million, essentially the same as the first quarter of 2001.

Earnings per share were $0.27 for the first quarter in both 2002 and 2001. Net income for the quarter was negatively impacted by $5 million in guest and travel agent related expenses due to the unanticipated drydock of two ships.

Revenues for the first quarter of 2002 were up 10%, at $800 million compared to $727 million in 2001. The increase in revenues was due primarily to an increase in capacity, offset by a decline in yields (net revenues per available passenger cruise day). Yields were down seven percent for the first quarter of 2002 compared to the first quarter of 2001, primarily as a result of pricing actions taken in the months immediately following the terrorist attacks of September 11. Bookings during these months were taken at significantly discounted prices. By January, pricing on new bookings for the first quarter was only marginally lower than during the same period the prior year.

In recent weeks, pricing has returned to pre-September 11 levels. Looking forward, based on current pricing trends and booking levels, yields are expected to be down 5-7 percent in the second and third quarters relative to 2001.

The company will introduce Constellation, the fourth Millennium-class ship, in May, and Brilliance of the Seas, the second of the Radiance-class series, in July. The company is also considering asking the shipyard to accelerate by a few weeks the delivery of Navigator of the Seas, the fourth Voyager-class ship. If so, the ship would be delivered in December 2002 in time to take advantage of the holiday sailings. The company has also announced that it will deploy six ships in the Europe next year, more than doubling its product offerings there.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Port of Indiana-Jeffersonville Sets Shipping Record

Grain, steel, salt help port exceed 2 million tons for first time in 29-year history   The Port of Indiana-Jeffersonville handled over 2.4 million tons of cargo in 2014,

Great Lakes Coal Falls Short in 2014

Despite a nearly 1-million ton increase in coal shipments on the Great Lakes in December, the surge was not enough to enable the trade to outperform 2013, the Lake Carriers’ Association (LCA) said,

Maersk Chief Warns on Global Trade

Nils Andersen,  chief executive  of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western

Finance

The 2nd Ballast Water Management Summit

Sign-up for this year’s most in-depth exchange of information and best venue for BWT stakeholders to network and meet their regulatory peers is underway.   Infocast’s

BP Freezes Pay in 2015 to Cut Costs

BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.   Over the past year,

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Ship Simulators
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: 0.1949 sec (5 req/sec)