NCL REINTRODUCES COVID-19 TESTS FOR GUESTS EMBARKING IN CHINA

Posted on 8 January, 2023 by Spacejunkie2

Norwegian Star arriving in Liverpool photo credit Spacejunkie2 (Flickr)

Norwegian Cruise Line has reintroduced Covid-19 testing for all guests who have visited mainland China 10 days before embarkation as cases in the country continue to rise.

The move comes as a result of growing concerns regarding the virus in China, as well as recently implemented travel restrictions by countries including the UK and the US.

Between 5-31 January, guests who have visited mainland China, Hong Kong, or Macau within 10 days prior to embarkation will be required to submit proof of a negative medically supervised PCR test taken within 48 hours prior to the beginning of travel to the port.

This also applies to guests transiting through an airport in one of the countries within 10 days prior to embarkation.

Additionally, guests will be required to take a medically supervised PCR test at the port within eight hours of embarkation and will be required to test onboard the ship every 48 hours until 10 days have passed from their last time in China, Hong Kong, or Macau.

Passengers must also be fully vaccinated and boosted with a World Health Organization-approved vaccine prior to embarkation.

It comes after the EU recommended all passengers travelling from China to the EU should be required to provide evidence of a recent negative test for Covid-19.

China’s foreign ministry spokesperson this week said the restrictions being imposed on travellers from China “lacked scientific basis”, adding the Chinese government would now consider reciprocal countermeasures.

Norwegian Cruise Line Ordered to Pay $110 Million in Cuba Court Case

Posted on 31 December, 2022 by Spacejunkie2

Norwegian Cruise Line Holdings has been ordered to pay approximately $110 million in damages for use of the Havana port, according to a U.S. judge who ruled in the case Friday.

The case, ongoing for some time, was ruled in favour of the Havana Docks Corp., which essentially argued that the cruise line’s use of the Havana port “constituted trafficking in confiscated property” as the port is a Cold-War asset seizure.

It is still being determined whether NCLH will or can appeal the nine-figure ruling. Havana Docks Corp. has pending cases against Carnival Corporation, Royal Caribbean Group and MSC Cruises.

Havana Docks Corp. was awarded $109,848,747.87 in damages plus Norwegian will pay $3 million in legal fees and costs.

With the Obama administration easing the Cuba embargo in 2016, cruise lines lined up to sail to Havana, including all of Norwegian Cruise Line’s brands.

In 2019, the Trump administration undid some of that with a ban on recreational travel to Cuba which put a stop to any major cruise brands calling on the island.

In 2020 a judge ruled in favour of Carnival Corporation in a similar case.

NCLH: Amendment and Extension of Operating Credit Facility

Posted on 11 December, 2022 by Spacejunkie2

Norwegian Cruise Line Holdings today announced it has amended and extended the majority of its operating credit facility consisting of its senior secured revolving credit facility and senior secured term loan A facility on December 6, 2022.

The amendment has resulted in the extension of maturities of approximately $1.4 billion of the Operating Credit Facility by one year to January 2025, according to a press release.

The Company is actively pursuing alternatives to address the remaining debt associated with the Operating Credit Facility that will otherwise mature in January 2024.

“We are pleased to have successfully amended and extended the majority of our Operating Credit Facility by one year to 2025,” said Mark A. Kempa, executive vice president and chief financial officer of Norwegian Cruise Line Holdings Ltd. “As part of this amendment, we were able to modify certain financial covenants and secure additional debt capacity of $1.5 billion, including approximately $0.5 billion of secured debt capacity. While we continue to believe our ongoing and organic cash generation provides a path to restore our balance sheet over time, the increase in debt capacity provides meaningful additional financial flexibility if needed, as we prepare for multiple scenarios in an uncertain macroeconomic environment.”

The Operating Credit Facility consists of the $875.0 million senior secured revolving credit facility and the senior secured term loan A facility with an outstanding principal amount of approximately $1.5 billion as of September 30, 2022. Additional details on the terms of the amendment can be found in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 9, 2022.