Cruise Operators News

Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time.Cruise operators are recording all-time high booking rates as more travelers switch to cheaper sea-borne experiences over expensive land-based alternatives such as booking hotels or flights, providing them more room to raise prices.U.S.-listed shares of the company were flat in volatile trading.

Royal Caribbean Group projected 2024 profit above Wall Street expectations after robust demand for cruise vacations and steeper ticket prices helped it beat fourth-quarter earnings estimates on Thursday.With travelers opting for cruises instead of more expensive land-based vacation options, operators are experiencing record levels of bookings compared to pre-pandemic levels, giving them enough room to mark up ticket prices."2023 was an exceptional year, propelled by unmatched demand for our brands from new and loyal guests…

Royal Caribbean Group on Thursday lifted its full-year profit forecast for a third time and said bookings for the next year were "significantly outpacing" pre-pandemic levels by a wide margin, sending its shares up about 3%.Cruise operators are reaping the rewards as travelers gravitate to cruise vacations that are cheaper compared to taking a land-based holiday.This has given the companies the ability to hike itinerary prices, especially in North America and Europe, as occupancy…

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.

Cruise operator Carnival Corp on Monday reported a smaller-than-expected quarterly loss and beat estimates for revenue, helped by strong demand for leisure travel, higher ticket prices and strong on-board spending.Cruise operators like Carnival, Royal Caribbean Group and Norwegian Cruise Lines Holdings are reporting resilient demand from cooped-up consumers undeterred by elevated inflation as COVID-19 pandemic-related restrictions ease."We are still experiencing a record wave season…

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels, influential…

Carnival Corp on Wednesday posted a smaller-than-expected quarterly loss as the cruise operator kept a tight lid on operating costs, sending its shares up about 7% in morning trade.Cruise operators including Carnival have been wrestling with rising fuel prices, a stronger U.S. dollar and higher interest rates, which have been further exacerbated due to the ongoing Russia-Ukraine conflict.Carnival has been removing some of its less efficient ships from the company’s fleet, including two ships from its Costa Cruises line…

An ABS-led consortium, including CE Delft and Arcsilea, published two of up to six reports studying alternative fuels and decarbonization technologies for the European Maritime Safety Agency (EMSA).ABS offered a 360-degree view of biofuels and ammonia, the first two fuels to be published by the consortium. Each fuel was analyzed using various criteria such as greenhouse gas (GHG) impact, sustainability, fuel availability, fuel scalability and human needs.“These two reports are the result of one year of intense activity with our collaborators…

Survitec’s Seahaven, said to be the world’s largest inflatable lifeboat, is now ready to be installed on cruise vessels, having received full type approval certification from classification society Lloyd’s Register.A Certificate of Type Approval was presented by Lloyd's Register Chief Operations Officer Mark Darley to Mark Cotton, Survitec Sales Director, during the SMM trade fair, which is taking place this week, in Hamburg, Germany.Certification follows the successful completion of heavy weather sea trials (HWST) in December…

Survival technology company Survitec has unveiled a new Marine Evacuation System (MES) designed for small to medium size passenger vessels. Targeted at vessels with passenger capacities ranging from 300 to 1,500 persons, such as ferries and expedition cruise ships, the new MES solution will be officially introduced to ship operators during the SMM Trade Fair before being rolled out for full market availability from early 2023.The product is being launched with an extended service MES option of up to 30 months…

Norwegian Prima, the first of six vessels from Norwegian Cruise Line’s (NCL) new Prima Class of ships was delivered at Fincantieri's shipyard in Marghera on Friday.Along with her sister-ships, Norwegian Prima will form the backbone of the future NCL fleet, at more than 142,500-tons, almost 300 meters long, and accommodating 3,215 guests. Deliveries are scheduled through 2027.Starting in the summer of 2022, Norwegian Prima will offer itineraries in Northern Europe with voyages from Amsterdam…

Cruise operator Royal Caribbean Group (RCL.N) on Thursday reported a smaller-than-expected quarterly loss as bookings rebounded and travelers splurged on cabanas, spa treatments and watches while onboard.The world's second-largest cruise line operator is the latest company to report good results as travelers, free of restrictions related to COVID-19, spend heavily on rental cars, airline tickets and hotels."Despite concerns about the U.S. and global economy, high inflation and amid geopolitical uncertainty…

Andrea Mather's plans for a long-awaited summer cruise around the Hawaiian islands with her financial analyst husband unraveled after her booking with Norwegian Cruise Line's Pride of America was canceled due to a staffing shortage.It was the second time this year that the 55-year-old homemaker's plan to go on a cruise was scuppered.The cruise industry is sailing in choppy waters yet again as it has to deal with a storm of labor problems, red-hot inflation and recessionary threat…

Norwegian Cruise Line Holdings Ltd forecast operating cash flow to be positive for the current quarter on Tuesday, as the U.S. cruise operator benefits from higher on-board spending and prices with its full fleet back in service.Shares of the company rose about 3% in early trade, as the company also said that booking trends remained strong despite a hit from Omicron variant of the coronavirus and the Russia-Ukraine conflict."We are seeing an explosive showing by consumers, particularly American consumers.

A newly published guidance paper from DNV seeks to support the prevention and mitigation of blackouts impacting passenger vessels.With blackout incidents on cruise ships on the rise, DNV has created a new guidance titled ‘Managing the risk of blackouts’ which addresses the main causes and associated risks, while offering recommendations and best practices on how to avoid them and reduce the likelihood of their occurrence.In 2019 there were 12 reported power-loss events on cruise ships that resulted in full or partial blackout while in transit or maneuvering – up from four events in 2018.

The world's biggest cruise operator Carnival Corp on Tuesday reported its busiest booking week in history as leisure travel continues to rebound from a long pandemic-led hiatus.The news sent shares of Carnival up nearly 4% in afternoon trading. The stock traded up more than 8% earlier in the session on the New York Stock Exchange. The news also earlier lifted rivals Royal Caribbean Group and Norwegian Cruise Line Holdings.Carnival said in a news release that the week of March 28-April 3 showed a double-digit increase from the previous record 7-day booking total.The U.S.

Smart network company Marlink has extended its partnership with Intelsat to offer increased Ku and C-band satellite connectivity to maritime customers in cruise and merchant shipping sectors.The agreement will see Intelsat assign capacity to the Marlink network providing a unique level of coverage in waters as far south as Antarctica as well as ocean regions around Africa and the Middle East. Marlink will derive the additional capacity from multiple assets, including Intelsat’s high-throughput satellites…

The U.S. Centers for Disease Control and Prevention (CDC) on Wednesday removed its COVID-19 notice against cruise travel, around two years after introducing a warning scale showing the level of coronavirus transmission risk on cruise ships.The move offers a shot of hope to major U.S. cruise operators such as Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings Ltd that have struggled to bring in revenue since the pandemic started.Cruise operators had also said the health agency was discriminating against the industry…

Cruise operators Royal Caribbean Group and Viking Cruises canceled sailings to Russia on Wednesday, joining their rivals and many Western brands in suspending operations in the country after its invasion of Ukraine.Celebrity Cruises, owned by Royal Caribbean, said it was removing Russian port city St. Petersburg from upcoming itineraries, adding that it would visit other Scandinavian ports in its place.Silversea Cruises also said it would re-route summer voyages scheduled to stop in Russia and Ukraine, while Royal Caribbean International said it had canceled its visits to St.

Carnival Corp-owned AIDA Cruises said on Thursday four of its ships would not stop at St. Petersburg port in Russia this summer as were previously scheduled, after the country’s invasion of Ukraine.The move comes after most major U.S.

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Cruise operator Royal Caribbean Group said on Friday the lightning spread of the Omicron coronavirus variant would delay its return to profitability by a few months, another blow for one of the companies worst affected by the pandemic.The bleak prediction, as well as a larger-than-expected quarterly loss, sent Royal Caribbean's stock down 4% and also weighed on shares of rivals Carnival Corp and Norwegian Cruise Line Holdings Ltd.The Omicron surge has in recent months forced cruise operators to change their trip itineraries and even cancel voyages…

A German court will rule next week in a case brought by Genting Group against a German regional government after a row over funding for cruise shipbuilder MV Werften, which filed for insolvency on Monday.Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016. The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards that build cruise ships.Genting's subsidiary Genting Hong Kong said on Tuesday…