Tallink suffers COVID impact

Tallink Grupp and its subsidiaries carried 3,732,102 passengers last year, which was 62% less compared to the 2019 financial year. The number of cargo units transported decreased by 5.2%, compared to the previous year. Tallink’s unaudited consolidated revenue amounted to €442.9 mill (€949.1 mill in [Read more...]

2021-02-26T21:32:59+00:00 February 26th, 2021|Finance|

Viking Line suffers a severe drop in earnings

Viking Line has reported a considerable drop in consolidated sales for 2020. For example, sales for the year totalled €188.8 mill, compared to €496.4 mill for 2019. Other operating revenue was €26.9 mill (€0.4 mill for 2019). Operating income totalled a negative €49.3 mill, compared [Read more...]

2021-02-26T21:23:05+00:00 February 26th, 2021|Finance|

NCLH bullish for 2022

Norwegian Cruise Line Holdings (NCLH), together with NCL Corp, has reported a GAAP net loss of $4 bill or EPS of a negative $15.75 for 2020, compared to net income of $930.2 mill or EPS of $4.30 for the previous year. NCLH also reported adjusted [Read more...]

2021-02-26T20:55:44+00:00 February 26th, 2021|Finance|

Carnival raises $1 bill

On 24th February, Carnival Corp was due to close an underwritten public offering of $1 bill of shares of its common stock. Carnival said that it expected to use the net proceeds from the offering for general corporate purposes. The offering of 40,450,619 shares was [Read more...]

2021-02-26T21:34:51+00:00 February 26th, 2021|Finance|

Carnival to raise extra cash

Carnival Corp has priced the private offerings of $3.5 bill aggregate principal amount of 5.75% senior unsecured notes, due 2027. The notes’ aggregate principal amount to be issued was recently increased to $3.5 bill. The offering is expected to close on 16th February, 2021, subject [Read more...]

2021-02-13T11:45:54+00:00 February 12th, 2021|Finance|

Cruise port operator in refinancing discussions

Global Ports Holding (GPH), the world's largest independent cruise port operator, has provided an update on the January refinancing of the $250 mill 8.125% Senior Unsecured Notes, due 2021 issued by its wholly owned subsidiary Global Liman İşletmeleri. GPH said that the spread of COVID-19 [Read more...]

2021-02-12T19:29:16+00:00 February 12th, 2021|Finance|

Insurance Group takes stake in Coral Expeditions

Australia’s insurance group National Roads and Motorists Association (NRMA) has taken what it calls a “significant” minority stake in Coral Expeditions. The investment will help the small cruise line grow its operational footprint, according to both companies. Coral Expeditions has resumed operations following a six-month [Read more...]

2021-02-12T19:11:07+00:00 February 12th, 2021|Finance|

Shipbuilding merger collapses

The French and Italian Finance Ministries have pulled the plug on the proposed merger between Fincantieri and Chantiers de l’Atlantique (pictured), two of the largest cruise ship builders. The deal collapsed due to the coronavirus crisis and competition concerns. Both governments said the merger had [Read more...]

2021-02-12T18:57:43+00:00 February 12th, 2021|Finance|