Carnival Corp is to start marketing a first-priority senior secured term loan facility. This has an original principal amount of $1.5 bill and matures in 2028. The company said that it intended to use the proceeds from the facility to redeem a portion of the [Read more...]
Newcomer Ausonia Cruise Holdings has formed a Monaco based corporate entity to act as the main governing body for its cruise-industry investment ventures. A team of experienced finance professionals and cruise industry operating executives have been brought together to form special purpose acquisition companies to [Read more...]
Carnival Corp has reported a US GAAP net loss of $2.8 bill and adjusted net loss of $2 bill for the third quarter of 2021. The quarter ended with $7.8 bill of liquidity, which the company believed was sufficient to return to full cruise operations. [Read more...]
CMA CGM is to invest €25 mill in Brittany Ferries, which includes €10 mill in quasi-equity. Brittany Ferries is the largest ferry company operating under the French flag, while CMA CGM is a major player in shipping and logistics. Through this agreement, CMA CGM is [Read more...]
KiwiRail is to be the recipient of the world’s first shipping loan to be certified by the Climate Bond Initiative (CBI), the company claimed. The $350 mill loan facility will be used to finance the purchase of the two recently ordered Interislander ferries. CBI is [Read more...]
Marfin Investment’s subsidiary, the large Greek ferry operator Attica Group, has reported consolidated revenue of €122.19 mill for the first half of this year, compared to €117 mill for 1H20. An EBITDA loss of €4.38 mill, compares to earnings of €1.94 mill in 1H20 and [Read more...]
Norwegian export credit agency Eksfin (formerly Export Credit Norway and GIEK) has provided loan guarantees of nearly €1 bill for the construction of 35 eco-friendly vessels over the last four years. This included PONANT’s ‘Le Commandant Charcot’, which was recently delivered by Norwegian shipbuilder VARD. [Read more...]
Mitsui OSK Lines (MOL) has concluded a syndicated transition loan for two LNG-fuelled ferries - ’Sunflower Kurenai’ and ‘Sunflower Murasaki’. The Development Bank of Japan (DBJ) and Sumitomo Mitsui Trust Bank (SMTB) served as the arrangers and Sumitomo Mitsui Banking Corp (SMBC) as the co-arranger. [Read more...]
Among the many passenger ship grant recipients listed on the US Coronavirus Economic Relief for Transportation Services Act (CERTS) website was American Cruise Lines, which received $42.7 mill. Other companies to benefit included Lindblad Expeditions, which received $21 mill in US Government grants and the [Read more...]
DFDS reported a revenue increase of DKK1.4 bill or 51% to DKK4.2 bill in the second quarter of this year, compared with 2Q20. This growth was driven almost entirely by the freight activities, i.e. freight ferry and logistics, as passenger activities remained negatively impacted by [Read more...]