Tag Archives: Frank Del Rio

Norwegian Cruise Line Holdings confirms two more Leonardo-class ships

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Norwegian Cruise Line Holdings has confirmed options to build fifth and sixth Project Leonardo-class ships for Norwegian Cruise Line with Fincantieri.

Frank del Rio, NCLH’s president and chief executive officer, said the decision to build two more 3,300 passenger-capacity ships, due for delivery in 2026 and 2027, showed “strong growth trajectory”.

He said: “Our six-ship Leonardo Class fleet will allow us to broaden our deployment into strong performing and mature unserved and underserved markets and offer new experiences to our guests.”

In a statement, the company said the focus of the new ships’ design was energy efficiency and building a size of vessel that would encourage broad deployment opportunities.

Andy Stuart, NCL’s president and chief executive officer, said: “The highly-anticipated Leonardo Class will fuel future growth with exciting and innovative offerings that will meaningfully drive demand from new and loyal returning guests alike.”

With Thursday’s announcement, NCLH has seven ships on order for Norwegian Cruise Line and one for Regent Seven Seas Cruises for delivery through 2027.

The company will take delivery of its newest ship, Norwegian Encore, in autumn 2019.

Norwegian Joins Trash Free Seas Alliance

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Norwegian Cruise Line Funnel

Marking World Oceans Day, Norwegian Cruise Line Holdings announced today that it has partnered with Ocean Conservancy. The company will join  Ocean Conservancy’s Trash Free Seas Alliance, actively working toward solutions that will mitigate plastic waste entering the ocean., Norwegian announced.

“The success of our business is dependent on the health of our oceans and, together with Ocean Conservancy, we are taking a step forward in our commitment to protect the world’s oceans,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings. “We are excited to lead the cruise industry by joining the Trash Free Seas Alliance and support Ocean Conservancy’s vision of a world with waterways, beaches and oceans free of plastic waste.”

Founded in 2012, the Trash Free Seas Alliance brings together thought leaders from industry, conservation and academia to create a forum for pragmatic, real-world collaboration focused on the measurable reduction of ocean trash.

”Nothing connects people to the ocean more than time spent on the water, and with Norwegian Cruise Line Holdings offering that experience to more than 2.5 million guests each year, we believe this is a tremendous opportunity to foster greater stewardship of our oceans,” said Janis Searles Jones, chief executive officer at Ocean Conservancy. “What’s more, Ocean Conservancy believes strongly that it will take all of us—including industry leaders—to stem the tide of ocean plastic. We are grateful for Norwegian’s leadership and look forward to working with them to reduce the amount of plastic flowing into the ocean.”

Norwegian Cruise Line Approves $1 Billion Share Repurchase Program

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Norwegian Jewel

Norwegian Cruise Line Holdings today announced that its Board of Directors authorized a three-year, $1 billion share repurchase program.

The company said it may repurchase its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations.

Norwegian said it may make repurchases in the open market, in privately negotiated transactions, in accelerated repurchase programs or in structured share repurchase programs, and any repurchases may be made pursuant to Rule 10b5-1 plans. The program will be conducted in compliance with applicable legal requirements and will be subject to market conditions and other factors.

“The $1 billion share repurchase program authorization reflects our ongoing confidence in our financial strength and the long-term outlook of our business,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “Our strong and growing cash flow will allow us to deepen our commitment to provide returns to our shareholders while continuing to invest in our product, innovation and growth.”