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

People & Company News

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

Thordon Bearings Names New China Distributor

Thordon Bearings Inc. of Canada announced that CY Engineering Co. Ltd. will take over as the new authorized distributor for the People’s Republic of China, including Macau and Hong Kong,

General Ship Repair: A Family Affair

The General Ship Repair Corporation, a fixture on the Baltimore water front for nearly a century, continues to build a strong business while preparing for fourth generation ownership.

Cruise Ship Trends

New London Cruise Terminal Gets Green Signal

London Mayor Boris Johnson gave final approval to build a new cruise terminal on the Thames River at Greenwich.   The terminal, to be located at Enderby Wharf,

Seven Seas Explorer Spaciously Intimate

The cruise ship being billed as "the most luxurious ship ever built" will also feature some of the largest cabins  and balconies afloat.   The suites on the Seven Seas Explorer,

French Cruise Company PONANT Signs GAC UK

PONANT Yacht Cruises & Expeditions has appointed GAC UK as its agent for all United Kingdom and Ireland port calls in 2016. PONANT’s 142m and 132 cabin megayachts

Finance

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

Oil Steadies as Equities Rally

Recovering stock markets boost oil prices; U.S. crude on track for first weekly gain in nine weeks. Oil prices steadied on Friday after bouncing back from six-and-a-half-year

Wärtsilä Scrubbers for Finnlines Vessels

Finnlines, a Ro-Ro and passenger vessel operator with services in the North and Baltic Seas, has contracted Wärtsilä to supply three vessels with exhaust cleaning scrubber systems.

Casualties

Iranian Ship, Crew Escape Captivity off Somali Coast

An Iranian fishing vessel and its crew have escaped after being held captive for five months by Somali fishermen, maritime piracy experts said on Friday, but it

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

USN Observes Suicide Prevention Month

While September is Suicide Prevention Month, subject matter experts from the 21st Century Sailor Office's Suicide Prevention Office, OPNAV N171, say their goal

 
 
Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.2074 sec (5 req/sec)