Richard Fain News

14 Feb 2020

Cruise Industry Seeks to Limit Coronavirus Risks

Norwegian Spirit (Photo: Norwegian Cruise Lines)

The plight of the cruise ship off Japan with more than 200 coronavirus infections and the shunning of another by five ports despite no known cases has led to a sharp change in tack for an industry in shock: avoid Asia.To that end, many cruises in the region are being cancelled while others currently sailing are being re-routed, skipping originally scheduled stops in China, Hong Kong and Singapore.Royal Caribbean Cruises Ltd on Thursday canceled 18 cruises in Southeast Asia after calling off eight trips to China last week.

14 Jun 2018

Royal Caribbean Buys $1 Bln Stake in Silversea Cruises

Manfredi Lefebvre D’Ovidio (left) shakes hands with Richard D. Fain after signing a deal that gives Royal Caribbean a 66.7 percent stake in Silversea (Photo: Silversea Cruises)

Royal Caribbean Cruises Ltd (RCL.N) said on Thursday it would buy a 66.7 percent stake in privately owned Silversea Cruises for about $1 billion to add ultra-luxury and expedition cruises to its fleet.Silversea Cruises, which has nine ships, sails to destinations including Antarctica, the Arctic and Greenland, with most of its tickets selling for more than $5,000.In contrast, the most expensive cruises run by Royal Caribbean under its Azamara Club Cruises brand cost around $3…

14 Mar 2017

Celebrity Cruises Reveals Celebrity Edge

“The Retreat” is an ultra-exclusive private utopia reserved exclusively for Suite Class guests featuring a luxurious pool and sun chairs for ultimate relaxation. Photo: Celebrity Cruises

Richard Fain, the chief executive officer of Royal Caribbean Cruises Ltd.and Lisa Lutoff-Perlo, CEO of Celebrity Cruises—one of three brands in the Royal Caribbean family—announced a new category of ship that, among other transformational design moves, brings stateroom balconies indoors. Designed completely in 3-D, and featuring the work of A-list global architects and designers, the 2,918-guest Celebrity Edge aims to make discerning global travelers redefine how they experience the world and how intimate a vacation can be.

11 Oct 2016

Finnish Shipyard wins Ship Deal from Royal Caribbean

Courtesy Meyer Turku

Miami-based cruise line operator Royal Caribbean Cruises Ltd. and Meyer Turku shipyard signed a memorandum of agreement for two next generation cruise ship orders to be delivered in 2022 and 2024. The around 200,000 gross ton large cruise ships under the project name “Icon” will mark the beginning of a new generation of LNG powered cruise ships with a number of innovations such as an application of fuel cells for power generation. Fuel cells are a very energy efficient and clean way to generate electrical energy.

13 May 2016

World's Biggest Cruise Ship Sets Sail

Photo: Royal Caribbean Cruises Ltd

The world's largest cruise ship, Harmony of the Seas – which cost US$1 billion to build over 32 months – has been finished and was delivered to owner Royal Caribbean International. The immense floating town has 18 decks and will be able to carry 6,360 passengers and 2,100 crew members. At 66 metres (217 feet), it is the widest cruise ship ever built, while its 362-metre length makes it 50 metres longer than the height of the Eiffel Tower. Barcelona will be Harmony's home port for the next few months – it has 34 seven-night voyages scheduled…

21 Apr 2015

Anthem of The Seas Christened in Southampton

Anthem of the Seas. Photo by Royal Caribbean

Royal Caribbean's newest ship, Anthem of the Seas, was named in Southampton, U.K.,  in a spectacular ceremony. U.K. travel agent godmother  Emma Wilby named the 4,180-passenger ship with the words: "I name this ship Anthem of the Seas. May God bless her and all who sail on her," before pressing the button to release a bottle of Perrier Jouet Champagne - which smashed. She sang Katy Perry's hit, 'Firework.' The ceremony opened with high-energy rock music, flashing lights and video, and a live performance of "We Will Rock You," part of an onboard show by that name devoted to the music of Queen.

13 Apr 2015

Anthem of the Seas Officially Delivered to RCL

Royal Caribbean’s 2nd Quantum Class cruise ship, Anthem of the Seas, was officially delivered to the cruise line by Meyer Werft in a signing ceremony in Bremerhaven, Germany. Royal Caribbean Cruises chairman and CEO Richard Fain officially received the 16-deck-high vessel from Germany’s Meyer Werft shipyard. “I am very happy to receive Anthem of the Seas from Meyer Werft Yards,” said Richard. “We’ve always broken the mould with each successive ship we build, and Anthem of the Seas is no different. Anthem of the Seas is 168,666-tons and a sister ship to Royal Caribbean's much-hyped Quantum of the Seas, which launched in October with a number of first-for-the-industry features such as a deck-top ride into the sky and a bar with robot bartenders.

11 Feb 2015

Cruise Industry Executives to Hold Panel in Miami

CNN's Richard Quest will moderate the Miami panel (Photo courtesy of Speakerpedia)

The chief executives of the world's largest cruise companies will participate in a wide-ranging discussion on the health and future of the global cruise business at Cruise Shipping Miami 2015's State of the Industry session on March 16-19 at the Miami Beach Convention Center. The panel will be moderated by Richard Quest, CNN's foremost international business correspondent and presenter of "Quest Means Business" and the monthly "CNN Business Traveller" programs. The State of the Industry panel includes Arnold Donald…

24 Jul 2014

Royal Caribbean Profit Jumps on Higher European Demand

Oasis of the Seas (Photo courtesy of Royal Caribbean International)

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, helping it raise its full-year profit forecast. Shares of the world's second-largest cruise operator rose as much as 9.1 percent to a life-high of $61.35. European cruises account for 22 percent of the capacity in the company, whose cruise lines include Royal Caribbean International, Celebrity Cruises and Azamara Club Cruise. The company raised its full-year earnings forecast to $3.40-$3.50 per share, from $3.25-$3.45.

31 Jul 2012

Shipbuilders 'Get on Your Marks' as Cruise Line Ponders New Order

Royal Caribbean chairman hints that new ship order is possible. During the Royal Caribbean second quarter 2012 financial results conference call, Royal Caribbean chairman hinted at the possibility that Royal Caribbean could order a new ship for either Royal Caribbean or its sister company, Celebrity Cruises. Royal Caribbean Chairman Richard Fain spoke about the possibility, "We clearly are looking at that sort of thing. "From 2012 through 2016, our berth capacity growth is less than 3%, and in fact, we don't have any ship deliveries in 2013 at all," he said. "But as we said before, we also can't stagnate.

02 Jul 2009

Nor-Shipping 2009 Defies Economic Downturn

Nor-Shipping 2009 was the largest in the event’s history, dating back to 1967. 1105 exhibitors from 52 countries participated. By comparison, Nor-Shipping 2007, which took place in the midst of a market boom, had 830 exhibitors from 42 countries. The Leading Voices conference that opened Nor-Shipping 2009 on Tuesday, June 9 got the show off to a favorable start. Attended by Norway’s King Harald V, the conference featured leaders of global stature, including IMO Secretary-General Efthimios Mitropoulos, and Richard Fain and Wilh. Wilhelmsen of Royal Caribbean Cruises Ltd.

17 Jun 2009

NorShipping ‘09 a Success

When NorShipping 2009 closed on June 12, the organized had claimed a record numbers of visitors; a total of 15,999, along with a total of 17,780 exhibitor representatives (1105 exhibitors from 52 countries). Given the current status of the world economy and the prospects for a protracted recovery, it is a testament to the brand built in Oslo that NorShipping could command an increase in traffic of 15% versus 2007. “We believed that the market downturn would lead the maritime industry to think again how it reaches out to the market,” said Tollef Schiander, Director for NorShipping. “Companies concentrate their resources on those activities and marketplaces that get results. This year’s Nor-Shipping was more popular than ever.

21 Nov 2001

$6 Billion Dollar Merger Rocks Cruise Industry

On Tuesday, November 20, a major announcement shocked the cruise and financial industries when Richard Fain, chairman and CEO of Royal Caribbean Cruise Lines, and Peter Ratcliffe, CEO of P&O Princess held a press conference in London to report that their two respective lines would join forces to form the world's largest cruise line, in a deal worth more than $6 billion. MR/EN had the opportunity to dial in to the conference, which occurred the morning of the merger at London's Lincoln Centre, to provide a first-hand account of this monumental transaction. In an era filled with terrorism, turmoil, economic frustration, massive layoffs and steep cutbacks…

14 Nov 2001

Williams Named President and Chief Operating Officer Of Royal Caribbean and Celebrity Cruises

Royal Caribbean Cruises Ltd. named Jack Williams president and chief operating officer of Royal Caribbean International and Celebrity Cruises. In his new role, Williams, previously president of Royal Caribbean International, will manage the day-to-day operations of both cruise lines. The two lines will continue to operate independently under Williams. Williams' appointment follows an earlier announcement that respected cruise veteran Richard Sasso, president of Celebrity Cruises, will resign from the company, effective January 1, 2002. spa facilities and cuisine," said Royal Caribbean Chairman and CEO Richard Fain. "He has built a solid framework for us to build from, and we will continue his legacy of excellence.

24 Sep 2003

RCCL Names Jean Driscoll Godmother of Newest Ship

Royal Caribbean International has announced that Jean Driscoll - world-class athlete, Olympian, Paralympian and international advocate for persons with disabilities - will serve as godmother to the line's newest ship, Mariner of the Seas, which debuts later this year. As godmother, Driscoll will officially give the ship its name during ceremonies in Port Canaveral, Fla., on Nov. 14, 2003. "We are immensely pleased that such a prominent athlete and outstanding advocate for persons with disabilities will be the godmother of our newest, fully accessible ship," said Richard Fain, chairman and CEO, Royal Caribbean Cruises Ltd. "Jean is a true champion who excels in everything she does, in the sports arena and beyond.

05 Dec 2001

Royal Caribbean's Adventure of the Seas Arrives in N.Y. Harbor

A clear, sunny Saturday afternoon of November 10, set the stage for the arrival of the first passenger ship into New York Harbor following the September 11 terrorist attacks. The vessel, Royal Caribbean's Adventure of the Seas, sailed into New York for a two-day tribute cruise for the families of the fallen firemen and police officers who were victim to the devastation at the World Trade Center. Royal Caribbean also plans to donate $50,000 to the Twin Towers Relief Fund. The 142,000-ton Adventure of the Seas - sister ship to Voyager and Explorer of the Seas - was christened at Pier 88 and named by representatives of the New York Police Department and New York Fire Department.

05 Dec 2001

$6 Billion Merger Tightens Cruise Industry

On Tuesday, November 20, a major announcement shocked the cruise and financial industries when Richard Fain, chairman and CEO of Royal Caribbean Cruise Lines, and Peter Ratcliffe, CEO of P&O Princess held a press conference in London to report that their two respective lines would join forces to form the world's largest cruise line, in a deal worth more than $6 billion. MR/EN had the opportunity to dial in to the conference, which occurred the morning of the merger at London's Lincoln Centre, to provide a first-hand account of this monumental transaction. In an era filled with terrorism, turmoil, economic frustration, massive layoffs and steep cutbacks…

20 Dec 2001

Carnival Gives RCCL A Run For Its Money

Exactly one month to the day that P&O Princess and Royal Caribbean Cruise Lines announced that they would merge to form a $6 billion cruise corporation, Micky Arison's powerhouse Carnival Corp. approached P&O with a $4.59 billion proposal. As reported in today's Wall Street Journal, P&O Princess, which initially rejected Carnival's offer, has now reconsidered and is currently weighing all its options of a possible merger with the "world's largest cruise line," - quite possibly leaving Royal Caribbean hanging out to dry. Despite these new developments, Royal Caribbean still stands firmly on its initial agreement with P&O Princess, according to Richard Fain, RCCL's chairman and CEO.

19 Dec 2001

Royal Caribbean Reaffirm Commitment to P&O Princess Cruises Merger

Royal Caribbean Cruises, Ltd. today reaffirmed its commitment to the merger it has signed with P&O Princess Cruises plc that was announced on November 20, 2001. Richard Fain, Chairman and Chief Executive Officer of Royal Caribbean said, "Royal Caribbean supports P&O Princess' decision to postpone their EGM, in order to give its shareholders time to fully consider their alternatives. “I am convinced that the merger we have agreed with P&O Princess will provide both sets of shareholders the greatest long-term value going forward, and that P&O Princess shareholders will recognize that the transaction with Royal Caribbean is superior in all respects to the takeover proposal from Carnival."

11 Jan 2002

Competition for Princess Cruises Heats Up With Arison Entry

Despite the less-than-stellar performance by the cruise industry during the last part of 2001, the industry more than had its fair share of newsmaking events — aside from the September 11 terrorist attacks — which ultimately exposed the fraility of this leisure sector. Beginnning with the demise of Renaissance Cruises almost immediately after the attacks, the industry suffered an additional blow in October when American Classic Voyages’ (AMCV’s) subsidiary U.S. Lines filed Chapter 11 — causing the dream of American cruiseship building to cease before it could even begin. These events, which were almost reminisicent of the faltering cruise industry of the 1970’s…

09 Jan 2002

Royal Caribbean International and Celebrity Cruises Provide Business Update

Royal Caribbean Cruises Ltd. today provided a business update to analysts and investors. This is the third update the company has provided to analysts and investors in an effort to keep them informed about the impact of September 11. The following comments were made on today's conference call. Prior to September 11, Royal Caribbean's booked ticket revenue for the first quarter of 2002 was 33 percent ahead of bookings for the first quarter of 2001 at the same time last year. Following September 11, there was a substantial drop in bookings and an increase in cancellations. After the initial trauma, bookings gradually improved, prompted initially by substantial discounts. Starting in mid-November, pricing began to recover and discounts have been falling.

29 Jan 2002

Royal Caribbean Responds to Referral Decision

Royal Caribbean Cruises Ltd., was notified of the decision by the Secretary of State for Trade and Industry to refer its proposed merger with P&O Princess to the Competition Commission for further review. Royal Caribbean believes strongly that the proposed merger will deliver significant consumer benefits, as well as shareholder value. Richard Fain, Chairman and Chief Executive of Royal Caribbean, said: "We have never taken regulatory approval for granted. This referral in no way detracts from our determination to complete the merger on the agreed timetable". Goldman Sachs International and Cazenove & Co. will not be responsible to anyone other than Royal Caribbean for providing the protections afforded to customers of Goldman Sachs International and Cazenove & Co.

07 Feb 2002

Royal Caribbean Responds to Carnival's Proposal

Responding to Carnival's latest proposal Richard Fain, Chairman and Chief Executive of Royal Caribbean Holdings commented: "Carnival has now announced a fourth proposal. In my view this latest one is no more real than the previous ones. Carnival's goal is to scuttle our meeting, secure in the knowledge that any price offered will never need to be paid."

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