Tag Archives: Norwegian Cruise Line Holdings

Norwegian Cruise Occupancy Ramp Accelerates to Above 100%

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Norwegian Cruise Line Holdings had an average load factor of 101.5 per cent in the first quarter, according to company executives speaking on the corporation’s first quarter earnings call.

“We reached load factors of 101.5 per cent in the first quarter, exceeding our guidance and breaking triple-digit levels for the first time in three years with some voyages exceeding occupancy above 115 per cent,” said Harry Sommer, incoming president and CEO of Norwegian Cruise Line Holdings.

“With this significant achievement, we have also nearly closed the occupancy gap versus 2019 levels,” he said.

For the second quarter, Sommer said he expects 105 per cent occupancy on average across the fleet.

“This average is slightly below 2019 levels as a result of our strategic shift to longer, more immersive itinerary at the Norwegian Cruise Line brand, naturally resulting in fewer thirds and fourths, which is what historically pushes passenger occupancy above the 100 per cent mark, all while enhancing margin over time,” he explained.

Most Recent Occupancy Rates:

Q1 2022: 48%
Q2 2022: 65%
Q3 2022: 81%
Q4 2022: 87%

NCLH Records Record-Breaking Wave Season

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Norwegian Cruise Line Holdings (NCLH) has entered 2023 with a record-booked position at a higher price, with each of its three brands experiencing “record-breaking” wave periods.

The Norwegian Cruise Line (NCL), Oceania Cruise and Regent Seven Seas Cruises parent has seen “very strong” demand so far in 2023, according to a recent trading update covering the fourth quarter and full year to 31 December 2022. 

The company entered the year with a cumulative booked position of approximately 62% for 2023, in line with previously outlined expectations and within the firm’s optimal 60% to 65% range, and at higher prices than 2019 at a similar point in time.

Booking volumes have accelerated in recent months buoyed by strong wave season demand, NCLH said, with its brands achieving several booking records in recent months.

As a result, the full-year 2023 cumulative booked position is ahead of 2019 levels inclusive of the company’s 19% increase in capacity.

NCLH expects this positive momentum to continue throughout the year, with occupancy expected to average 100% for the first quarter and is on track to reach “historical levels” for the second quarter.

As of 31 December 2022, the company’s advance ticket sales balance, including the long-term portion, was $2.7 billion, approximately 9% higher than the prior quarter and approximately 30% greater than at year-end 2019.

Norwegian Cruise Line Holdings Completes Biofuel Trial

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PRIO, a producer of biofuels in Portugal, and Norwegian Cruise Line Holdings in collaboration with World Fuel Services (WFS), have successfully completed the first trials with sustainable biofuels produced in Portugal, according to a press release.

Following the launch of ECO Bunkers B15 and taking the first step towards the decarbonization of maritime transport in the Iberian Peninsula, PRIO has announced a blend of Biofuels with 30 per cent renewable base material.

This milestone was achieved in collaboration with Norwegian Cruise Line Holdings and the Florida-based energy and services company World Fuel Services.

The new fuel, ECO Bunkers B30, contains a blend of 30 per cent of advanced biofuel from waste raw materials and it is produced at PRIO’s biodiesel plant in Aveiro. This enables the company to scale up production as demand increases and to adjust the percentage of Biodiesel blends (up to a 100 per cent renewable product).

Luis Nunes, a member of PRIO’s Executive Board said: “Advanced biofuels, produced from residual raw materials, i.e., the result of circular economy, are the solution of the present and that allows us to immediately meet the growing needs of our clients. They are “drop-in” solutions, meaning that they did not require any modifications to the engine or tank of Norwegian Cruise Line Holdings’ cruise ships and, in this way, allowed an immediate impact without any need for additional investment in these ships.

“We are at a crucial moment in the world’s response to climate and biodiversity emergencies, so PRIO believes we can already accelerate the energy transition if we increase the contribution of advanced biofuels in the maritime sector,” he added.

PRIO has established itself as the ideal partner for maritime companies on the road toward decarbonization of the sector.

With the help of World Fuel Services, two Norwegian Cruise Line Holdings ships were fueled with a total of 400 tons of B30 supplied by PRIO last year.

The Norwegian Star received 200 tons of ECO Bunkers B30 in Lisbon in November.

The following week, the Norwegian Epic, received another 200 tons of ECO Bunkers B30. This has enabled the cruise company to avoid approximately 440 tons of CO2 emissions.