Tag Archives: dry dock

Carnival Corp. records $222 million in net income in Q2

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Carnival Corp. reported $222 million in net income in the second quarter, up more than 126% from second quarter 2014. Revenue for the quarter, the company said, was $3.6 billion, compared with $3.63 billion in 2014.

Carnival said its net income in the quarter included unrealized gains on fuel derivatives of $34 million and $7 million on restructuring expenses.

Net revenue yields rose 4.1% in the quarter on a constant-dollar basis, beating the company’s estimate of increases in the 2% to 3% range; gross revenue yield decreased 3.5% due to changes in currency exchange rates, it said.

Fuel prices declined 37%, to $411 per metric ton; the company spent $333 million on fuel in the quarter, compared with $527 million in Q2 2014. Net cruise costs, excluding fuel, increased 6.1%, which the company primarily attributed to an increase in drydock days.

Carnival Corp. CEO Arnold Donald said in the earnings statement that all company’s North American brands “enjoyed strong revenue yield improvement”; he singled out the Carnival Cruise Line brand and said it “performed particularly well again this quarter.”

The company said that fleetwide booking volume for the next three quarters was running “well ahead” of last year, at slightly lower prices due to transactional currency impacts. Donald said that the strong booking volume “clearly demonstrates strong consumer demand for our brands,” and he added that Carnival Corp. would step up marketing investment for the remainder of the year.

Carnival said its third-quarter net revenue yields were expected to be up 2% to 3% in constant dollars compared with Q3 2014.

This report was updated to clarify a statement from Arnold Donald regarding yield improvement in the company’s cruise brands.

Norwegian Star cruise canceled to fix ship

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Norwegian Cruise Line has canceled a Panama Canal cruise scheduled to depart Los Angeles on April 12 because of a problem with the ship’s ABB-manufactured Azipod propulsion.

In a statement, the cruise line said the Norwegian Star would undergo repairs from April 21 to 26. The Star had just emerged in late March from a scheduled drydock in which it received a variety of upgrades. See report from drydock.

Guests booked on the 15-day cruise will receive a full refund as well as a 50% future cruise credit.

Norwegian said the next cruise on the ship is scheduled to depart Miami on April 27.

Norwegian Star exits drydock with Five O’Clock Somewhere bar

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By Rebecca Tobin

Norwegian Cruise Line’s partnership with Margaritaville is taking shape on the Norwegian Star, which carries the line’s first Five O’Clock Somewhere bar following a two-week drydock.

The Five O’Clock Somewhere bar will sell Margaritaville signature drinks like the “Who’s to Blame Margarita” and LandShark beer. Norwegian, which announced its partnership with Margaritaville last year, will offer a Margaritaville restaurant and Five O’Clock Somewhere bar on the Norwegian Escape, which debuts this fall, and it also plans to construct Margaritavilles at its private ports of call.

In addition to introducing the Five O’Clock Somewhere bar, the line also eliminated a $15 cover charge on the Star’s Ginza restaurant. The Asian specialty restaurant will offer a complimentary menu and items priced on an a la carte basis.

An O’Sheehan’s Neighborhood Bar & Grill was added to the ship. The Brazillian steakhouse-style Moderno Churrascaria was moved to what Norwegian called a “more intimate” setting on Deck 13, and a Sugarcane Mojito Bar was installed adjacent to the steakhouse.

Other additions to the Star include new carpeting and flooring throughout guest areas and updates to the pool deck. Touch-screen signage, which was introduced on the Norwegian Breakaway, was added to the Star.

On the technical side, the Azipod propulsion system was updated and the hull coated with silicone paint. Norwegian said the measures would improve fuel efficiency.

The ship will sail in northern Europe this summer.
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Correction: A scrubber system was not installed during the recent drydock.