Tag Archives: Regent Seven Seas Cruises

Caribbean cruise pricing strengthens, analyst says

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Norwegian Star in Cabo San Lucas By Dave Jones

Prices have substantially risen for cruises in the Caribbean, according to a survey taken by Wall Street brokerage Susquehanna Financial Group.

In a report published Dec. 14, analyst Rachel Rothman said first-quarter prices in the Caribbean are up 13.8% at Carnival Corp., 7.6% at Royal Caribbean Cruises Ltd., and 26.1% at Norwegian Cruise Line Holdings. Rothman noted that the comparison at Norwegian is skewed by the replacement of the Norwegian Pearl and Epic with the newer Getaway and Escape in the Caribbean.

For the second quarter, the survey showed Carnival’s Caribbean pricing is up 15.7 %, while RCCL and NCLH are down 5.8% and 6.6%, respectively.

In the Mediterranean, Carnival’s first-quarter pricing is up 23% but Norwegian Cruise Line is down 6.5%. The report noted that Royal Caribbean and NCLH’s Oceania and Regent Seven Seas brands don’t offer Med cruises in the first quarter.

Norwegian signs 15-year lease in Seattle

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Photo Credit: Shutterstock

Norwegian Cruise Line will be sailing in the Pacific Northwest for the foreseeable future.

The Port of Seattle said it has signed a 15-year berthing agreement with Norwegian Cruise Line Holdings that includes passenger volume guarantees that will assure $73 million of revenue to the port.

Norwegian Cruise Line Holdings is parent not only to Norwegian Cruise Line, but to Oceania Cruises and Regent Seven Seas Cruises. All three regularly sail to Alaska in the summer months.

Port of Seattle CEO Ted Fick said a 15-year lease for a cruise terminal is unprecedented on the West Coast. “Norwegian Cruise Line is showing real vision by investing in the economic growth of this region,” Fick said.

The agreement calls for Norwegian to make an estimated $30 million of improvements to the Bell Street Cruise Terminal that will expand the portion of the Pier 66 facilities used for processing cruise passengers.

During the summer season, Norwegian will manage cruise operations at the terminal, which is closer to downtown Seattle than the Smith Cove terminal used by Holland America Line, Princess Cruises and others. It will also have priority docking privileges.

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The benefits of acquiring Oceania Cruises and Regent Seven Seas Cruises began to “hit their full stride” in the second quarter, Frank Del Rio, CEO of Norwegian Cruise Line Ltd., said Tuesday as the company reported that Q2 net income rose 42%, to $158.5 million.

Revenue also increased 42%, to $1.09 billion.

The company completed its $3 billion acquisition of Oceania and Regent last November.

Norwegian also said a strong Wave season at the start of 2015 had continued into the second and third quarters, with “volumes continually outpacing the same time last year.”

The company now expects adjusted earnings per share in the range of $2.80 to $2.90 for the full-year 2015. The previous guidance was $2.75 to $2.90.