Finance

Finnish ferry company, Viking Line has reported strong sales amounting to €199.8 mill for the first half of this year, compared to €71.5 mill for 1H21. However, 1H22 income after taxes was a negative €9.8 mill, compared with [Read more...]

Irish Ferries’ owner, Irish Continental Group (ICG) reported a major improvement in revenue for the first half of this year. Revenue was €263.1 mill, a rise of 85.8% over the previous year’s revenue. EBITDA was up by 272.4% [Read more...]

Norwegian-based ferry company Color Line's operating income was NOK2.2 bill and the operating profit was NOK 238 mill for the first half of this year. This was described as being in line with a normal pre-pandemic year, despite [Read more...]

The US Department of Homeland Security’s (DHS) Federal Emergency Management Agency (FEMA) Port Security Grant Programme (PSGP) has awarded $1,941,285 funding for several projects at Port Canaveral, Florida. The funds will be used to protect the cruise port’s critical [Read more...]

DFDS Group second quarter revenue increased 67% to DKK7 bill, driven by the ongoing recovery in the number of ferry passengers and yields, as well as freight ferry services price increases and logistics solutions. In addition, revenue was [Read more...]

Richard Branson’s Virgin Voyages has received $550 mill in new capital to support its growth. The funding was led by BlackRock and includes new external financing and additional capital from existing investors, including Bain Capital Private Equity and Virgin Group. Virgin Voyages [Read more...]

Royal Caribbean Group ((RCL) has closed its private offering of $1,250,000,000 aggregate principal amount of 11.625% senior unsecured notes, due 2027 The Notes will mature on 15th August, 2027 unless earlier redeemed or repurchased. They will be issued under an Indenture, dated 18th August, [Read more...]

UK-based law firm Watson Farley & Williams (WFW) has advised at least two cruise ship operators on finance recently. First, the Royal Caribbean Group ((RCL) was advised on the acquisition and financing of the luxury expedition cruise ship [Read more...]

Norwegian Cruise Line Holdings (NCLH) has reported a GAAP net loss of $509.3 mill or EPS of minus $1.22 for the second quarter of this year, compared to net loss of $717.8 mill or EPS of minus $1.94 [Read more...]

Italian cruise ship and naval shipbuilder, Fincantieri, saw revenues grow by 16% to €3,510 mill in the first half of this year, compared to €3,026 mill for 1H21. However, the group suffered a net loss of €234 mill [Read more...]