Tag Archives: Norwegian Cruise Line Holdings Ltd

COVID Cases Found on Norwegian Cruise Ship Returning to New Orleans

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A cruise ship set to dock in New Orleans with over 3,000 passengers has detected 10 cases of COVID-19 among its crew and guests, the Louisiana Department of Health said late on Saturday.

The cruise ship Norwegian Breakaway, owned by Norwegian Cruise Line Holdings Ltd, departed New Orleans on a weeklong cruise on Nov. 28 and had stops in Belize, Honduras and Mexico, the health agency said.

“NCL has been adhering to appropriate quarantine and isolation protocols,” the department said in a tweet.

The ship is set to reach New Orleans on Sunday morning, according to its itinerary.

Everyone on board will be tested for COVID-19 before leaving and will be provided with post-exposure and quarantine public health guidance by the U.S. Centers for Disease Control and Prevention (CDC).

People who test positive for COVID-19 will either travel to their homes or self-isolate according to CDC guidelines, the health agency said.

Norwegian Cruise Line Holdings did not immediately respond to a request for comment outside regular business hours.

(Reporting by Ann Maria Shibu in Bengaluru; Editing by Frances Kerry)

Norwegian Cruise Line Holdings postpones return until November

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Norwegian Jade

Norwegian Cruise Line Holdings’ three lines – Norwegian Cruise Line, Oceania and Regent Seven Seas Cruises — will not sail until November.

NCLH is the latest cruise company to push back the suspension of sailings beyond the Centers for Disease Control and Prevention’s No Sail Order through Sept. 30.

Most of the major cruise lines serving the North American market have extended their pause to conform to the CDC order, including the Royal Caribbean Group brands, Carnival Cruise Line and MSC Cruises. Princess recently extended its suspension of nearly all cruises through mid-December, and many Holland America ships are not slated to set sail until mid-October or November.

Windstar Cruises recently pushed back its Tahiti sailings, which are to be the line’s first cruises to resume service, from Sept. 10 to Oct. 15, to align with the CDC order.

NCLH Successfully Secures More Than $2 Billion of Additional Liquidity

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Norwegian Escape

Norwegian Cruise Line Holdings Ltd. (NCLH) has successfully secured over $2 billion of additional liquidity so it is “well-positioned” to weather the suspension of operations during the Covid-19 pandemic.

On May 5, the company announced the launch of a series of capital markets transactions, led by Goldman Sachs, to raise approximately $2 billion. The transaction has since been upsized to gross proceeds of $2.225 billion.

The transactions consisted of a $400 million public offering of common equity, $750 million exchangeable senior notes offering, $675 million senior secured notes offering and a $400 million private investment from global consumer-focused private equity firm L Catterton.

Contingent on completion of the transactions, the company said on May 6 that it expects to have approximately $3.5 billion of liquidity. The move came a day after NCLH said there were doubts about its ability as “a going concern.”

“This significantly strengthens the company’s financial position and liquidity runway and it now expects to be positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario,” the company said in a news release. “When the transactions are completed, the additional liquidity alleviates management’s concern about the company’s ability to continue as a going concern for the next 12 months.”

A financial analyst report by Wedbush concurs. “What seems to be getting missed is that the company now has the cash in place to survive until mid-to-late-2021 even under a worst-case net cash outflow scenario,” the report said. “While we have been relatively bearish with respect to our assumptions as to when the industry is likely to open back up, much less go back to ‘normal’, the liquidity recently added by NCLH would seem to put the company in a sound position under the majority of plausible scenarios, no small feat given the gauntlet that they needed to run through in recent months to ensure the company’s survival.”