Fain News

Royal Caribbean Group's Chief Executive Officer, Richard Fain, is stepping down after more than three decades with the U.S. cruise operator that is still recovering from the slump caused by the coronavirus crisis.Finance chief Jason Liberty will takeover as CEO, Royal Caribbean said on Tuesday, and will be tasked with taking the company back to pre-pandemic levels as sailing operations slowly restart more than a year after operations were suspended.Fain was one of the key leaders…

Silver Moon, Silversea Cruises' newest ship in its "ultra-luxury" fleet, was christened Thursday in Athens, Greece. The naming ceremony was held in the port of Piraeus.At 40,700 gross tons and with a maximum capacity of 596 guests, Silver Moon is the cruise line’s second Muse-class ship.Constructed by Fincantieri at its Ancona shipyard, Silver Moon is an evolution of her sister ship Silver Muse, Silversea Cruises said."The ship benefits from re-imagined public spaces, butler service in all suite categories…

Finnish shipbuilder Meyer Turku on Monday commenced production of Royal Caribbean International's next cruise ship Icon of the Seas. The start of production and the revealing of the ship’s name were celebrated at the shipyard's plate hall, where Meyer Turku CEO Tim Meyer, Chairman of the Board of Meyer Turku , Bernard Meyer, Chairman and CEO of Royal Caribbean Group, Richard Fain, and Harri Kulovaara, Executive Vice President of Maritime & Newbuilds, were present. CEO and president of Royal Caribbean International…

The Centers for Disease Control said it had approved one cruise ship from Royal Caribbean to resume sailing in June, more than a year after U.S. cruising was suspended because of the COVID-19 pandemic.The Celebrity Cruises’ Celebrity Edge will depart from Port Everglades in Fort Lauderdale on June 26, the cruise company said. It will be the first U.S. departing cruise in a more than a year with paying passengers.“Cruising from the U.S. is back!” Richard D. Fain, Royal Caribbean Group chairman and chief executive officer said in a statement.The CDC said it is committed to working with the cruise industry and ports to resume cruising in…

Royal Caribbean Group said on Thursday it was aiming to restart its U.S. cruises in July after the U.S. Centers for Disease Control and Prevention (CDC) issued new measures to speed up approvals, sending its shares up 2.5%.Late on Wednesday, the CDC made public a letter to the cruise industry that said it was “committed” to the resumption of passenger operations in the United States by mid-summer.It followed a lawsuit from Alaska and Florida that sought to overturn the health…

Cruise giant Royal Caribbean Group said it has completed the sale of its Azamara brand to private equity firm Sycamore Partners for $201 million in cash. The sale, which was announced earlier this year, includes Azamara’s three-ship fleet and associated intellectual property.Miami-based Royal Caribbean said the the deal allows it to focus on expanding its core brands Royal Caribbean International, Celebrity Cruises and Silversea Cruises as it continues to grapple with the effects of the COVID-19 cruise pause.“This creates huge opportunities for all parties,” said Richard D. Fain, chairman and CEO of Royal Caribbean Group. “In fact, as we are inking this deal today, Azamara already has added a fourth ship to their fleet.

Royal Caribbean Group said on Monday it was seeing an uptick in future bookings, following a disastrous year for the cruise operator, as travel enthusiasts look to sail again at a time governments globally have started mass vaccinations.The company’s shares, down 44% last year, soared 9% in morning trading, as Royal Caribbean said it recorded a 30% increase in new bookings since the beginning of the year when compared to November and December.Analysts have also tipped Royal Caribbean…

Cruise operator Royal Caribbean Group said on Tuesday it reached a deal to sell its Azamara brand to private-equity firm Sycamore Partners for $201 million in cash, as it grapples with biting impacts of the COVID-19 pandemic.Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet—Azamara Quest, Azamara Journey and Azamara Pursuit—and associated intellectual property. In conjunction with the transaction, Azamara Chief Operating Officer Carol Cabezas has been appointed President of the brand.Royal Caribbean said it will incur a one-time, non-cash impairment charge of approximately $170 million, but claimed…

Italian shipbuilder Fincantieri said it has handed over the second of three new “Muse” series ultra-luxury cruise ships it is constructing for Royal Caribbean's Silversea Cruises.Silver Moon, built at Fincantieri's Ancona yard and delivered on Friday, is a sister ship of Silver Muse, that went out to sea in 2017 from the Sestri Ponente (Ge) shipyard, and of Silver Dawn, to be delivered in 2021 in Ancona. At 40,700 gross tons, the newbuild has capacity for 596 passengers in 298 all-suite cabins.Among the vessel’s notations…

Royal Caribbean Group has hired Dr. Calvin Johnson as Global Head, Public Health and Chief Medical Officer, a new role created to lead the cruise line operator's global health and wellness policy, manage its public health and clinical practice and determine the strategic plans and operations of its global healthcare organization.Johnson will also collaborate with the Healthy Sail Panel assembled in response to COVID-19, to ensure the company establishes and implements its protocols and recommendations.Dr.

Royal Caribbean Group has acquired the remaining shares of Silversea Cruises, a specialist in the ultra-luxury and expedition cruising, after previously buying a two-thirds share of the cruise line in July 2018.The remaining one-third stake held by Heritage Cruise Holding Ltd. was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock."Silversea has been a great fit for our company from the very first day," said Richard D. Fain, Chairman and CEO of Royal Caribbean Group.

Royal Caribbean Cruises Ltd forecast a loss in the second quarter on Wednesday as the cruise operator struggles with mounting debt amid trip cancellations due to travel curbs imposed to check the spread of the coronavirus.The company, which posted a bigger-than-expected loss in the first quarter, has faced the brunt of the COVID-19 pandemic as major outbreaks in cruises were blamed for spreading the disease.In the past few months, Royal Caribbean has borrowed more than $5 billion, some by pledging its ships, and now expects to pay between $590 million and $610 million in interests for the rest

Arne Wilhelmsen, a founder of Royal Caribbean Cruises Ltd. died Saturday, April 11, 2020, in Palma, Spain. He was 90.In a company statement on Sunday, Royal Caribbean Cruises called Wilhelmsen a "a constant influence on the company from its founding, serving more than three decades on the company's board of directors."Together with the company's first CEO, the late Edwin Stephan, Wilhelmsen saw possibilities for the nascent cruise industry that others did not, Royal Caribbean Cruises said."At a time when the rest of the world thought cruising was a niche use for old transatlantic liners…

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.

Army veteran-turned-Royal Caribbean Cruise Line founder Edwin W. Stephan passed away on Friday at 87 years old."We at Royal Caribbean mourn his loss and extend our deepest sympathies to the Stephan family," said a statement from the global cruise company said.In 1969 Stephan founded the Royal Caribbean Cruise Line, and his contributions helped create the modern cruise industry we know today. Under his leadership in 1970, the company launched Song of Norway, the first ship purpose-built for warm-water cruising.Since that initial voyage, Stephan's fledgling company has grown into the world's second largest cruise line, a multi-billion-dollar global company of six brands…

Cruise line Royal Caribbean International officially took delivery of the 26th ship in its fleet, 169,000 grt Spectrum of the Seas, in a ceremony Thursday in Bremerhaven, Germany.The first ship in the Quantum-Ultra class, the Meyer Werft built Spectrum of the Seas measures 347.1 meters long and 41.4 meters wide. Altogether, the vessel has 18 decks with 2,137 cabins offering space for 4,246 passengers in double occupancy and 1,551 crew members.The Bahamas flagged Spectrum of the Seas will be the largest and most expensive ship in Asia when she arrives to her new home in Shanghai on June 3…

Royal Caribbean Cruises Ltd (RCL) just gave confirmation of an order for Chantiers de l’Atlantique, according to a previous option agreement, to build a new Oasis-class cruise ship, due for delivery in the fall of 2023.“At her delivery, she will be the twenty third cruise ship built by our yard for Royal Caribbean Cruises Ltd, and we are especially proud of it”, said Laurent Castaing, General Manager, Chantiers de l’Atlantique."With her outstanding dimensions, the new 2857-cabin ship (hull A35) will belong, like her sister ships of the Oasis-Class, to the category of the largest cruise ships ever built," said a press release.As per some contracts previously signed with Royal Caribbean Cruises Ltd for Oasis-Class ships…

Royal Caribbean Cruises (RCL) and Silversea Cruises announced agreements to build three new ships for Silversea Cruises, including two luxury vessels as well as a single expedition ship for the Galapagos.Silversea, the luxury and expedition cruise brand that recently joined the RCL family, signed a memorandum of understanding with German shipbuilder Meyer Werft to build two new vessels in its new Evolution Class. The first Evolution Class ship is expected to deliver in 2022.Silversea also signed a contract with Dutch shipbuilder Shipyard De Hoop to construct a new expedition vessel, named Silver Origin, that will serve the Galapagos Islands itinerary currently sailed by Silver Galapagos.

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…

At 362 meters long, 66 meters wide and 70 meters high, Royal Caribbean’s new 228,081 GRT cruise ship takes the “world’s largest” title. Mega ship Symphony of the Seas was delivered today to owner Royal Caribbean International from French shipbuilder STX France who has been constructing the vessel since 2015. The new cruise liner, which boasts 18 decks total with capacity for 6,800 passengers in 2,747 staterooms and is crewed by more than 2,000 staff members, takes the size crown from her slightly smaller sister vessel, Harmony of the Seas.

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. “Celebrity Edge is one of the most exciting, innovative and transformational ships I have ever been involved with,” said Richard D. Fain.

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. “With Icon class, we begin the journey to take the smoke out of our smokestacks", said Richard Fain, chairman and chief executive officer of Royal Caribbean Cruises, Ltd.

Royal Caribbean Cruises Ltd. has entered into an agreement to sell Legend of the Seas to Thomson Cruises in the UK. Legend will depart Royal Caribbean’s 25-ship fleet in March 2017 and immediately transition to its new owner. The 1,832-passenger ship will join the Thomson fleet in May 2017, and will sail under the name of TUI Discovery 2. The news comes nine days before the launch of the line's latest ship TUI Discovery - another former Royal Caribbean ship and a sister to Legend, Splendour of the Seas. While financial terms of the ship's sale were not disclosed, the transaction would result in "an immaterial gain" upon its delivery to Thomson, the Miami-based cruise company said.