Finnlines Grimaldi slams state

Finnlines has continued to work resiliently, despite losing over 30% in profits, the company said in its third quarter results presentation. President and CEO, Emanuele Grimaldi (pictured) explained; “The Finnlines Group’s passenger volume decreased by over 50% and between Finland and Sweden by 70% for [Read more...]

2020-11-14T15:01:37+00:00 November 14th, 2020|Finance|

Tallink suffers 50% less revenue

Tallink Grupp’s normally high season third quarter produced an unaudited net loss of €23.9 mill, compared with a €54.6 mill profit in 3Q19. Third quarter EBITDA remained positive, due to significant activities and efforts from the company to pursue a number of different new business [Read more...]

2020-11-14T14:59:14+00:00 November 14th, 2020|Finance|

Lindblad reports 99% tour revenue drop

Lindblad Expeditions Holdings reported that third quarter 2020 tour revenues decreased $100 mill, or 99%, compared to the same period in 2019. This decline was driven by a $76.6 mill drop at the Lindblad segment and a $23.4 mill decrease at Natural Habitat, as a [Read more...]

2020-11-14T14:18:17+00:00 November 14th, 2020|Finance|

Miami Mayor extends cruise lines waiver

Miami-Dade County Mayor Carlos Gimenez has extended a waiver for lay berth and harbour fees for cruise lines through 16th November, subject to availability at PortMiami. “Miami-Dade County will continue to support its cruise line partners,” said Mayor Gimenez. “It is because of our partners that PortMiami is [Read more...]

2020-10-26T19:21:56+00:00 October 26th, 2020|Finance|

Viking Line wins government loan approval

The Finnish Government has approved the State of Finland’s guarantees on Viking Line´s liquidity loans up to €38.7 mill. Using the liquidity loans, Viking Line aims to further secure its cash position and ensure business continuity during the exceptional situation caused by the coronavirus crisis, [Read more...]

2020-10-26T19:06:37+00:00 October 26th, 2020|Finance|

RCL to raise $1 bill

Royal Caribbean Group (RCL) has commenced an underwritten public offering of $500 mill of shares of common stock of the company. RCL intends to grant the underwriters an option to purchase up to $75 mill of additional shares. The net proceeds from the offering are [Read more...]

2020-10-26T18:55:30+00:00 October 26th, 2020|Finance|

Carnival – a risky investment

Carnival Corp’s disastrous third quarter performance showed that the cruise line industry is not going to return to normality soon, an analysts' platform said. Seeking Alpha said in an investment note that analysts continued to believe that Carnival is a very risky investment with no [Read more...]

2020-10-26T18:49:11+00:00 October 26th, 2020|Finance|