'Grandeur of the Seas' Fire Impacts on Share Price

Press Release
Thursday, May 30, 2013
Grandeur of the Seas: Photo credit Taxiarchos228 at the German language Wikipedia

Royal Caribbean Cruises Ltd. has quantified the financial impact of the recent fire on board their 'Grandeur of the Seas'.
The cruise ship, Grandeur of the Seas, experienced a fire in an industrial area on the aft of the ship.  The company has taken the vessel out of service and expects that it will take approximately six weeks to complete the repair efforts.  The company estimates that the direct financial impact of this event, net of insurance, is a reduction of $0.10 per share. 

"The extent of the financial impact was relatively high because the affected sailings were during the premium summer season," said Jason Liberty, senior vice president and chief financial officer. The ship is expected to return to service for its July 12, 2013 sailing date.

"We are gratified that no one was hurt and that the safety and comfort systems performed exactly as designed," said Adam Goldstein, president and chief executive officer of Royal Caribbean International.  "I extend my appreciation to our crew who performed so well, as well as to our guests who have been cooperative, understanding and highly complimentary of the shipboard team throughout," Goldstein continued.

 

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

People & Company News

Dann Marine Repowers With Cummins Tier 3 Engines

Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

MAN-Powered Cargo Vessel Meets Tier III

Classification society awards SCR system emissions certificate. MAN Diesel & Turbo has been awarded a Tier III - compatibility certificate by the DNV- GL classification

Cruise Ship Trends

Steel Cut for Third RCI Quantum-class Cruise Ship

The steel cutting for 'Ovation of the Seas', scheduled to be delivered in the autumn of 2016, took place at the Meyer Werft shipyard in Papenburg, Germany, where 'Quantum of the Seas',

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

L-3 MSI to Equip Third Quantum Class Ship

L-3 Marine Systems International (L-3 MSI) announced today that it has been awarded a contract to provide a range of navigation, lighting and communication systems

Finance

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Casualties

USCG in Search of Missing Man in Lake Michigan

The Coast Guard is searching for a man who went missing on Lake Michigan, Tuesday. Missing is 48-year-old Joseph Kiehm from Milwaukee. Kiehm was last seen aboard his 26-foot white sailboat,

S. Korea Navy Chief Quizzed About Salvage Ship Absence

The state audit agency has interrogated the chief of the Navy over a faulty Navy salvage ship that failed to participate in the national rescue operation for the

Arctic Wreck Found after 169 Years

After more than 169 years, Canadian researchers discovered one of the two ships from the doomed Arctic expedition of Sir John Franklin, cracking one of the largest mysteries in sea exploration.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1348 sec (7 req/sec)