Ncl Holding News

Norwegian cruise firm NCL Holding ASA has been approved for a listing on the New York Stock Exchange. NCL would be listed under the symbol NRW.

Malaysia's Star Cruises said it was seeking to issue 200 million new shares to finance its acquisition of the Norwegian shipping group NCL Holding ASA. The issue of new shares, pending approval from Star's shareholders, represented 32 percent of the company's existing share capital, it said. Star had also arranged a five-year medium loan of $600 million, which would also go to financing the NCL acquisition and Star's future expansions, it said. The new issues may be in the form of new ordinary shares of Star Cruises or equity-linked securities and would be issued over a period of time, the company said.

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20 percent. Polar Holding (POL) fell 26 percent in May as District Offshore (DOF) failed in it's attempt to acquire the company. Brøvig Offshore was down 17 percent, while DOF fell 3 percent. The two cruise operators both experienced a positive share price development in May.

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20 percent. Polar Holding (POL) fell 26 percent in May as District Offshore (DOF) failed in it's attempt to acquire the company. Brøvig Offshore was down 17 percent, while DOF fell 3 percent. The two cruise operators both experienced a positive share price development in May.

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20 percent. Polar Holding (POL) fell 26 percent in May as District Offshore (DOF) failed in it's attempt to acquire the company. Brøvig Offshore was down 17 percent, while DOF fell 3 percent. The two cruise operators both experienced a positive share price development in May.

Shipping and offshore shares performed well in March with an increase in the Shipping Index of 2.3 percent. The Oslo market as a whole fell 2.2 percent, much due to the world-wide price fall for the IT and telecom sector. Despite the uncertainty about the outcome of the OPEC meeting on March 27 and 28, a number of offshore shares rose significantly during the month. Even though the oil price fell slightly as a result of the meeting, it is obviously within a price range that is considered as comfortable by investors. The two share classes in Smedvig (SME and SMEB) were both up about 19 percent in the period, topping the long list of positive performers in the offshore sector. All but five of the listed offshore shares increased their value during March.

The New York Stock Exchange on Monday said it had suspended trade of Norwegian cruise operator NCL Holding ASA's American Depositary Receipts due to the purchase of the company by another cruise line. After the suspension, the NYSE will file with the Securities and Exchange Commission to delist the issue, the exchange said in a statement. The suspension is related to the Nov. 29, announcement that Arrasas Limited, a subsidiary of Star Cruises Plc, has begun acquiring all of NCL's ordinary shares and ADRs, related to the tender offer statement dated Jan. 13.

The United Seamen’s Service (USS) 2006 Admiral of the Ocean Sea Awards will be presented to container shipping pioneer Paul F. Richardson, President of Paul F. Richardson Associates Inc., and Colin Veitch, President and CEO of Norwegian Cruise Line, which has commenced new American-flag passenger ship activity. The maritime industry honor will be awarded at a gala industry dinner and dance to be held at the Sheraton New York Hotel and Towers, New York City, on November 3, 2006. John Bowers, Chairman of the USS AOTOS Committee and President of the International Longshoremen’s Association, AFL-CIO, made the announcement on Maritime Day May 22, 2006. Richardson and Veitch led the field of nominees for the award, sought by USS from over 150 maritime management, labor and government officials.

A cruise ship with more than 2,000 passengers aboard was barred from leaving port in Miami for a second day on Monday, pending repairs to fix what the U.S. Coast Guard called "a systematic failure" of its fire sprinkler system. Measuring 978 ft. (298 m), the Bahamian-flagged cruise ship Norway, operated by Norwegian Cruise Line, was scheduled to leave the Port of Miami on Sunday for a seven-day cruise to the Caribbean. Officials with Norwegian Cruise Line, a unit of NCL Holding, could not be reached for comment on Monday, a national holiday. But a cruise line spokesman reportedly said that the repairs would not be finished in time for the ship to sail before Tuesday.

Shipping and offshore shares performed well in March with an increase in the Shipping Index of 2.3 percent. The Oslo market as a whole fell 2.2 percent, much due to the world-wide price fall for the IT and telecom sector. Despite the uncertainty about the outcome of the OPEC meeting on March 27 and 28, a number of offshore shares rose significantly during the month. Even though the oil price fell slightly as a result of the meeting, it is obviously within a price range that is considered as comfortable by investors. The two share classes in Smedvig (SME and SMEB) were both up about 19 percent in the period, topping the long list of positive performers in the offshore sector. All but five of the listed offshore shares increased their value during March.

Carnival Corp. plans to allow its tender to buy Norwegian line NCL Holding to expire on the December 22 deadline without making any adjustments. Carnival had bid 30 crowns per share for NCL, which had consistently rejected the bid as too low. Earlier on Thursday, Star Cruises Plc said that it had bought 39.3 percent of NCL, just below the 40 percent limit before a formal takeover bid would have to be launched under Norwegian law.

Norwegian cruise group NCL Holding ASA reiterated opposition to a takeover bid by Carnival Corp. and forecast a surge in pre-tax profits for 2000. Officials said that Carnival, which has offered $880 million for NCL shares, was trying to buy NCL cheap after it suffered a year marred by two accidents with its liners. Officials also said that forecast 1999 profits include extraordinary items of about $20 million after, the Norwegian Sky ran aground in Canada in September and the Norwegian Dream collided with a cargo ship off Britain in August. All costs with the liners had now been taken. NCL bookings already account for 50 percent of budgeted revenues for 2000. And as of Dec.

Singapore-listed Star Cruises Plc launched a surprise takeover bid for Norway's NCL Holding ASA on Dec. 17, after U.S. giant Carnival Corp. bowed out of a battle for control. Star offered 35 Norwegian crowns ($4.38) a share for NCL, valuing it at about 8.73 billion Norwegian crowns ($1.10 billion). Star will also assume NCL debts of about six billion crowns. The bid was inevitable after Star lifted its shareholding in NCL above 40 percent late on Dec. 16, the threshold above which a formal takeover has to be launched under Norwegian law. NCL officials said they were surprised by the bid after Star had assured them only a day earlier that it had no such plans.

Siem Industries Inc. subsidiary Siem Leisure Industries Inc. acquired an option to purchase one million shares in cruise operator NCL Holding ASA. Siem said the option was acquired at a strike price of 18 crowns per share. The option expires Jan. 20, 2000. Siem Industries and its subsidiaries own 35,508,828 shares in NCL, or around 14.9 percent, in the form of ordinary shares and American Depository Receipts.

U.S. Coast Guard inspectors cleared the SS Norway to sail, a week after owner Norwegian Cruise Line was ordered to make repairs that scuttled the Caribbean vacations of 2,032 passengers. The sleek, blue-hulled Norway, built 40 years ago as the SS France for Atlantic crossings, has been berthed for more than a week in Miami but was now scheduled to depart on Sunday for a seven-day cruise of the eastern Caribbean, according to the Coast Guard and NCL Holding ASA. "Their certification to carry passengers is OK," Coast Guard Chief Sean Benson said. Coast Guard inspectors last week refused to sign off on the Norway's fire safety system and ordered NCL, to fix 106 poorly patched leaks in its sprinkler system.

Norwegian Cruise Line canceled the weekly sailing of its ship Norway on Tuesday because of leaks in the fire sprinkler system, thwarting Caribbean vacation plans for more than 2,000 passengers stuck in Miami. As reported earlier today, the Norway had been scheduled to leave the Port of Miami on Sunday for a seven-day cruise to the western Caribbean. But the Coast Guard barred it from sailing after a surprise inspection found 106 poorly patched leaks in the pipes that supply water to the sprinkler system. Crew members had hoped to repair the problems and obtain clearance to sail by Monday night; the latest the 40-year-old ship could leave Miami and still complete its voyage. "Unfortunately this has not happened," NCL said in a statement announcing cancellation of the voyage on Tuesday.

Share prices in Oslo rose in August for the sixth consecutive month, and can thus show for positive share price movements for seven out of eight months so far this year. While the All Share Index gained another 2.4 percent in August, the Shipping Index was a little behind with a 1.4 percent increase. Shipping and Offshore shares are up 43.2 percent for the year. The oil price continued to rise in August. For the first time since October 1997 North Sea oil for immediate delivery (Brent spot) was traded at more than USD 21 per barrel, doubling the oil price since January. Oil-related shares are obediently following the oil price with the value of offshore shares on the Main List rising 11 percent in August after the July rise of 20 percent. TGS Nopec (TGS), Det Søndenfjeldske (SFJ) and Fred.

NCL Holding ASA agreed to sell the cruise ship AIDA to Arkona Touristik for $181 million. NCL said the booked value of the vessel was $169 million and the debt on the ship was $106 million.

Norwegian cruise operator NCL Holding has finalized financing for the construction of a new 2,012 passenger cruise liner similar to the recently delivered Norwegian Sky. NCL announced in May an agreement of intent with Lloyd Werft to build the vessel for $351 million, with options for another vessel worth $334 million. The agreement was conditional in financing. NCL said the new ship was to be delivered on Aug. 31, 2001.

Norwegian cruise operators NCL Holding ASA has agreed to sell the cruise ship Aida to Arkona Touristik for $181 million. NCL said the booked value of the vessel was $169 million, and the debt on the ship was $106 million. Delivery will take place this month.

NCL Holding ASA reportedly expects losses from the grounding of its Norwegian Sky vessel off Canada last week to total $5.9 million, including $2.5 million from NCL's part in insurance payments and loss of on-board income not covered by insurance plus $3.4 million for cost cuts on future cruises. However, NCL is still reporting solid liquidity. Cash holdings as of September 30 totaled $115 million.

Share prices in Oslo rose in August for the sixth consecutive month, and can thus show for positive share price movements for 7 out of 8 months so far this year. While the All Share Index gained another 2.4 percent in August, the Shipping Index was a little behind with a 1.4 percent increase. Shipping and Offshore shares are up 43.2 percent for the year. The oil price continued to rise in August. For the first time since October 1997 North Sea oil for immediate delivery (Brent spot) was traded at more than USD 21 per barrel, doubling the oil price since January. Oil-related shares are obediently following the oil price with the value of offshore shares on the Main List rising 11 percent in August after the July rise of 20 percent. TGS Nopec (TGS), Det Søndenfjeldske (SFJ) and Fred.

Officials of NCL Holding ASA announced that the company expects losses from the grounding of its Norwegian Sky vessel off Canada last week to total $5.9 million, including $2.5 million from NCL's part in insurance payments and loss of on-board income not covered by insurance and a $3.4 million for cost cuts on future cruises. The Norwegian Sky ran aground in the upper St Lawrence River and was re-floated with the tide hours later. NCL officials said the vessel would be back in service on Oct. 28 after repairs. Three cruises were canceled. NCL officials said the company has solid liquidity. Cash holdings as of Sept. 30 totaled $115 million.