Carnival Corp’s fourth quarter 2021 business update showed a US GAAP net loss of $2.6 bill and adjusted net loss of $2 bill. The fourth quarter also ended with $9.4 bill of liquidity. For the cruise segments, revenue per passenger cruise day (PCD) during the [Read more...]
The Panama Canal Authority (PCA) is to modify its passenger ship toll structure from 1st February. This will standardise the tolls unit by PC/UMS (Panama Canal Universal Measurement System) tonnage capacity for all passenger vessels seeking to use a single unit, to provide transparency and [Read more...]
Similar to 2020, last year was an exceptional year for Viking Line, the company revealed. The operating environment was highly unfavourable, due to the pandemic, as were the economic consequences. At the same time, the company experienced a number of positive events in 2021. For [Read more...]
Beleaguered cruise operator Genting Hong Kong’s shares plunged by more than 50% on Thursday after trading in its shares had resumed on the Hong Kong Stock Exchange following a three week halt. This followed warnings in a stock exchange filing, of more defaults, due to [Read more...]
Viking Line has received a temporary exemption from the covenants included in its financing agreement for its new vessel, ‘Viking Glory’ (pictured). The Board, based on an authorisation granted by an Extraordinary General Meeting (EGM) held on 22nd November, 2021, agreed to issue a rights [Read more...]
Celestyal Cruises and its Cypriot-based tourist organisation parent, Louis, have signed an agreement to tap into funds managed by private investment firm Searchlight Capital Partners. As part of the partnership, Searchlight will make an investment into a new holding company, Celestyal Holdings. This will enable [Read more...]
Danish-based logistics and ferry company DFDS reported a revenue increase of 22% to DKK4.4 bill during the third quarter of this year. This increase was driven by higher freight activity in most business units. However, the quarter’s passenger activity was overall below 2020 but picked [Read more...]
Irish Continental Group (ICG) is to purchase the ropax ‘Ciudad de Mahon’ from Trasmed. Title to the vessel will transfer to ICG upon her delivery, which is expected by late January, 2022. She will serve the Dover/Calais route operated by Irish Ferries after drydocking and [Read more...]
At Viking Line’s extraordinary general meeting held on 22nd November, 2021, at Mariehamn, Åland, it was decided to authorise a share issue. Up to 6,480,000 new shares will be issued with pre-emption rights for shareholders at a subscription price of €8 per share. Viking’s shareholders [Read more...]
Norwegian Cruise Line Holdings (NCLH) has closed on a series of related balance sheet and cash flow optimisation transactions initiated last week. NCLH claimed that the net result of the transactions is significantly favourable for the company and its shareholders, as it reduces annual interest [Read more...]