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|

Baleària’s 2019 earnings hike

Spanish-based ferry company Baleària’s shareholders have foregone their 2019 dividend payments in order to strengthen the company's position in response to COVID-19. For last year, Baleària registered a turnover of around €452 mill,  about 19% higher than in 2018, according to figures reported in the [Read more...]

2020-04-27T09:42:53+00:00 April 27th, 2020|Finance|

Lindblad receives business loan

Lindblad Expeditions has received a US Small Business Administration (SBA) loan from Citibank, on the back of the COVID-19 crisis. The $6.6 mill loan will primarily be used for payroll costs, the company explained. Under the US Paycheck Protection Program Loan Note, the SBA loan [Read more...]

2020-04-27T08:58:16+00:00 April 27th, 2020|Finance|

NCL and RCL win debt holiday on German-built ships

Beginning on 20th April, 2020, NCL Corp, (NCLC), a subsidiary of Norwegian Cruise Line Holdings (NCLH), amended the export-credit backed facilities that finance six German-built cruise ships. The vessels involved are the ‘Norwegian Bliss’, ‘Norwegian Breakaway’, ‘Norwegian Encore’, ‘Norwegian Escape’, ‘Norwegian Getaway’ and ‘Norwegian Joy’. [Read more...]

2020-04-27T08:38:53+00:00 April 27th, 2020|Finance|

TUI secures Government loan

German bank KfW and cruise line operator TUI have signed a German Federal Government backed state aid bridging loan amounting to €1.8 bill. This loan was agreed by the Government on 27th March, as part of the COVID-19 state support programme. TUI's current revolving credit [Read more...]

2020-04-14T08:47:44+00:00 April 14th, 2020|Finance|

Cruise shipbuilding boosts Fincantieri

Italian shipbuilding group Fincantieri reported record revenues last year, driven by a significant increase in cruise ship construction. Revenues totalled €5.8 bill for the year, an increase of 8%, compared to €5.4 billion recorded in 2018. Fincantieri said that it had seen remarkable growth in [Read more...]

2020-04-14T08:30:26+00:00 April 14th, 2020|Finance|

Saudis buy stake in Carnival

Carnival Corp's shares jumped last night after Saudi Arabia’s Public Investment Fund confirmed in a filing that it had acquired an 8.2% stake in the cruise ship operator. Carnival’s shares surged 18% to $10.04 Monday on the New York Stock Exchange (NYSE) after the Saudis [Read more...]

2020-04-07T10:14:59+00:00 April 7th, 2020|Finance|

Carnival outlines the future

In a filing to the US Securities and Exchange Commission (SEC) late last week, Carnival Corp painted a bleak picture of its operations going forward in the light of the COVID-19 pandemic. In an update, the company explained that some of the ships will go [Read more...]

2020-04-06T09:29:31+00:00 April 6th, 2020|Finance|