You may notice a new look around here. CruiseInd is currently transitioning to an updated theme to improve readability, navigation, and overall performance.
The cruise industry is now getting into the SPAC market. If you don’t know what those are it stands for a Special Purpose Acquisition Company. These are the financial/stock mechanism that allows a publicly traded company without any operations or…
Norwegian Cruise Line Holdings Ltd. reported financial results for the third quarter ended September 30, 2020 and provided a business update. “The new Framework for Conditional Sailing Order issued by the U.S. Centers for Disease Control and Prevention is a step in the right…
The newly renamed Royal Caribbean Group reported financial results for the third quarter of 2020 and commented on the business considering the global COVID-19 pandemic. Third Quarter 2020 On March 13, 2020 and due to the COVID-19 pandemic, the Company voluntarily suspended…
Carnival Corporation & plc Provides a Business Update Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted “We have come full circle from initiating a suspension in the early days of the pandemic, to transitioning the fleet into a pause…
THIRD QUARTER 2020 SUMMARY PRELIMINARY FINANCIAL INFORMATION •U.S. GAAP net loss of $(2.9) billion for the third quarter of 2020, which includes $0.9 billion of non-cash impairment charges. •Third quarter 2020 adjusted net loss of $(1.7) billion. •Cash burn rate…
Warren, Rhode Island based Blount Small Ship Adventures just announced that they ceased all operations and put all three ships for sale. The line, formally known as American Canadian Caribbean Line, had been sailing small, Jones-act passenger vessels since 1966.…
UPDATE OCTOBER: The German Government has announced that MV Werften will receive $200 million in emergency aid from 17 banks. The loan was facilitated by the regional Minister of Economic Affairs to allow for the highly skilled workers of the…
Norwegian Cruise Line Holdings Ltd. today reported financial results for the second quarter ended June 30, 2020. “In recent weeks, we have taken further action to bolster our liquidity position in response to the COVID-19 global pandemic, including our highly successful $1.5…
Royal Caribbean Group today reported financial results for the second quarter of 2020 and commented on the business in light of the global COVID-19 pandemic. Second Quarter 2020 Starting on March 13, 2020 and due to the COVID-19 pandemic, the Company suspended…
There’s a rumor going around the industry that Carnival Corp are looking to sell the Cunard and Seabourn brands. The two lines could leave in a package deal. Carnival already announced that 9 ships would leave the fleet, then the…
With their ships laid up around Britain, this was just posted on their website. The entire fleet is currently laid up in Tillbury except for the Marco Polo which is in her homeport of Avonmouth, Bristol, UK. Current Fleet Marco…
UPDATE 7/13: The total for those ships leaving the fleet are roughly $1 billion. The way it will break down is they will sell 13 ships but will only lose 11 from the global fleet. The two other ships will…
SECOND QUARTER 2020 SUMMARY PRELIMINARY INFORMATION U.S. GAAP net loss of $(4.4) billion, or $(6.07) diluted EPS, for the second quarter of 2020, which includes $2.0 billion of non-cash impairment charges. Second quarter 2020 adjusted net loss of $(2.4) billion, or $(3.30) adjusted EPS. Total revenues for the second…
UPDATE 7/1/20: The Sovereign and Monarch have had all valuable equipment removed in Naples and will head to Aliaga, Turkey for scrapping. The Horizon will head to Athens to have equipment stripped, then she will head to Turkey. UPDATE 6/30/20:…
Norwegian Cruise Line Holdings Ltd. today reported financial results for the first quarter ended March 31, 2020, and provided a business update in response to the novel coronavirus (“COVID-19”) global pandemic. “In recent weeks, we have taken decisive action to significantly strengthen…
Royal Caribbean Cruises Ltd. today launched a $3.3 billion bond offering. They will use 28 ships as collateral. It’s not currently known if its 28 of the current and partially completed ships in the Royal Caribbean International fleet or 28…
First Quarter 2020 Highlights: Tour Revenues decreased 9% to $81.2 million Net loss available to common stockholders of $1.9 million Adjusted EBITDA decreased $11.5 million to $10.6 million Significantly expanded capacity with the delivery of the National Geographic Endurance in March 2020…
Royal Caribbean has recently been able to better it’s liquidity by arranging for a debt holiday from payments for its newbuilds in Germany and France. The French credit agency is applying this to the Symphony of the Seas, Celebrity Edge,…
NCLH Chart by TradingView The factors described above, in particular the suspension of cruise voyages and decline in advanced bookings, as well as debt maturities and other obligations over the next year, and the fact that management’s plan to obtain…
Carnival Corporation & plc disclosed summary financial information for the quarter ended February 29, 2020, in connection with previously disclosed financing activities to improve its liquidity position. First Quarter 2020 Summary Information U.S. GAAP net loss of $(781) million, or…
Carnival Corporation announced it’s intent to borrow approximately $3 billion over six months to increase it’s cash position. This will serve as working capitol and to be used for general expenses. (From Carnival Corp) Due to the spread and recent developments,…
UPDATE 5/1: NCLH announced that they have amended the below agreement to include the Pride of America and the Norwegian Jewel and increases the credit facility to as high as $905 million. Due to the uncertainty caused by the coronavirus,…
Royal Caribbean Cruises Ltd today announced that due to the spread and recent developments related to the COVID-19 outbreak, the company has increased its revolving credit capacity by $550 million bolstering the company’s liquidity. The company is pursuing additional actions to improve…
Full year 2019 Highlights: Lindblad Expeditions Holdings, Inc. a global provider of expedition cruises and adventure travel experiences, today reported financial results for the fourth quarter and year ended December 31, 2019. Tour revenues increased 11% to $343.1 million Net…
Norwegian Cruise Line Holdings Ltd. today reported financial results for the fourth quarter and full year ended December 31, 2019, as well as provided guidance for the first quarter and full year 2020. Full Year 2019 Highlights Company generated GAAP net income…