RCL gives business update

Royal Caribbean Cruises (RCL) has updated its financial position in light of the COVID-19 pandemic impact in the Group’s first quarter results presentation. "Responding to the dramatic change in business conditions caused by COVID-19 has required focus, dedication, ingenuity and improvisation from all our people, [Read more...]

2020-05-21T08:03:28+00:00 May 21st, 2020|Finance|

Royal Caribbean to raise $3.3 bill

To shore up its liquidity, Royal Caribbean Cruises has instigated a private offering of $1 bill aggregate principal amount of 10.875% Senior Secured Notes due 2023 and $2.32 bill aggregate principal amount of 11.500% Senior Secured Notes due 2025. The $1 bill notes will mature [Read more...]

2020-05-16T10:46:28+00:00 May 16th, 2020|Finance|

Meyer Turku announces layoffs

At the end of last month, cruise shipbuilder Meyer Turku shipyard started negotiations to permanent layoff of 450 people with another 900 affected by other measures. These include temporary layoffs of different lengths, work time adjustments and other arrangements. All personnel at every level are [Read more...]

2020-05-16T09:40:33+00:00 May 16th, 2020|Finance|

German ropax builder FSG files for insolvency

Ro-ro and ropax shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) has filed for ‘self-administered’ insolvency under German procedure. Similar to the US Chapter 11, this allows the existing management team to remain in control while the company restructures its finances. In 2019, FSG was rescued from near bankruptcy [Read more...]

2020-05-16T09:36:30+00:00 May 16th, 2020|Finance|

Royal Caribbean to raise $3.3 bill

To shore up its liquidity, Royal Caribbean Cruises has instigated a private offering of $1 bill aggregate principal amount of 10.875% Senior Secured Notes due 2023 and $2.32 bill aggregate principal amount of 11.500% Senior Secured Notes due 2025. The $1 bill notes will mature [Read more...]

2020-05-15T14:06:16+00:00 May 15th, 2020|Finance, Marketing|

NCLH takes steps to shore up its finances

Norwegian Cruise Line Holdings (NCLH) has issued a stark warning about its ability to meet its financial obligations for the next 12 months. In a US Securities and Exchange Commission (SEC) filing yesterday, NCLH admitted that it did not currently have sufficient liquidity to meet [Read more...]

2020-05-06T09:42:31+00:00 May 6th, 2020|Finance|

NCLH lays it on the line

Norwegian Cruise Line Holdings (NCLH) has provided a comprehensive business update in response to the coronavirus global pandemic. NCLH had announced a voluntary suspension of all cruise voyages from 13th March to 30th June, 2020 for its three brands. All 28 ships in the company’s [Read more...]

2020-04-28T09:17:38+00:00 April 28th, 2020|Finance|