Three Guests Dead as Oceanwide Battles Suspected Virus Outbreak
Oceanwide Expeditions has confirmed three guests have passed away onboard the Hondius which is currently located off the coast of Cape Verde.
Media reports said the 174-guest ship is battling a hantavirus outbreak. Information regarding the number of guests and crew aboard was not immediately available.
In addition, one passenger is currently being treated in intensive care in Johannesburg, and two crew members onboard require urgent medical care.
The company said that as of May 3, no authorization from Cape Verdean authorities has been given to disembark guests requiring medical care or to support with medical screening.
“Local health authorities have visited the vessel to assess the condition of the two symptomatic individuals. They are yet to make a decision regarding the transfer of these individuals into medical care in Cape Verde,” the company said.
The company said in a statement that its priority is to ensure that the two symptomatic individuals onboard receive adequate and expedited medical care.
“Dutch authorities have agreed to lead a joint effort in organizing the repatriation of the two symptomatic individuals onboard the Hondius from Cape Verde to the Netherlands.”
The body of the deceased individual is also planned to be included in this repatriation, along with a guest closely associated with the deceased, who is not symptomatic, the company said.
“This repatriation depends on many factors, including the authorization and support of local Cape Verdean health authorities for the transfer of individuals requiring medical attention from Hondius,” the company stated.
Oceanwide stressed it is working closely with local and international authorities, including WHO, RIVM, relevant embassies, and the Dutch Ministry of Foreign Affairs.
Norwegian Cruise Line Holdings today reported financial results for the first quarter ended March 31, 2026 and provided guidance for the second quarter and full year 2026.
Highlights
First quarter total revenue grew 10% to $2.3 billion. GAAP net income was $105 million, with EPS of $0.23.
Delivered Adjusted EBITDA of $533 million in first quarter 2026, exceeding guidance, and representing an increase of 18% compared to 2025. Adjusted Net Income more than doubled to $108 million. Adjusted EPS increased $0.13 to $0.23.
Company lowered full year 2026 guidance with Adjusted EPS expected to be $1.45 to $1.79.
Company took delivery of Norwegian Luna, featuring an exceptional collection of venues and experiences, including its latest in house production ELTON: A Celebration of Elton John™.
Announced Board refreshment with the appointment of five new independent directors effective March 31, 2026, further strengthening the Company’s governance and shareholder value focus.
Executed targeted initiatives to enhance its SG&A profile, generating approximately $125 million of expected annualized run-rate savings.
“
We delivered strong first quarter results, and more importantly we have already begun taking decisive actions to strengthen execution and accountability across the company, which will enhance results over the longer term,” said John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings.
“During the quarter, we acted with urgency to simplify, optimize, and streamline the organization, including executing SG&A savings initiatives totaling $125 million in expected run rate savings. These are long-term structural actions that we believe will help offset near-term pressures and position the business for stronger performance over time. As we move through the year, we will continue to manage costs and focus on revenue growth to align resources with the high-growth, high value areas of the business. I remain confident and encouraged that we are building a leaner, more effective and nimble organization that positions NCLH for sustainable long-term value creation.”
First Quarter 2026 Highlights
Generated total revenue of $2.3 billion, a 10% increase compared to the first quarter of 2025, driven by increased Capacity Days. GAAP net income was $104.7 million compared to $(40.3) million in the prior year, with EPS of $0.23.
Gross margin per Capacity Day increased 4.0% versus 2025 on an as reported basis and increased 2.6% on a Constant Currency basis. Net Yield decreased approximately 0.3% on an as reported basis and 1.0% on a Constant Currency basis, above our guidance of a decline of 1.6%.
Gross Cruise Costs per Capacity Day was approximately $287, compared to $297 in the prior year. Adjusted Net Cruise Cost excluding Fuel per Capacity Day was approximately $169 on an as reported basis and $168 on a Constant Currency basis, and was down 0.2% on an as reported basis and 1.0% on a Constant Currency basis compared to $169 in 2025, better than guidance.
Adjusted EBITDA increased 18% to $533 million, compared to $453 million in 2025, exceeding guidance of ~$515 million. Adjusted EPS increased 121% to $0.23, exceeding guidance of ~$0.16.
2026 Full Year Outlook
The Company is experiencing headwinds related to disruptions in the Middle East, including higher fuel expense and signs of softer demand as consumers reevaluate travel plans, particularly to Europe. As previously noted, the Company entered 2026 behind its targeted booking curve, and these headwinds have hindered the Company’s ability to accelerate bookings and close that gap. These external pressures come as the Company continues to enhance its revenue management system and improve execution, resulting in additional pressure on the business and a reduction in its full year guidance. A summary of the updated full year guidance is provided below:
2026 full year Net Yield on a Constant Currency basis is expected to be down approximately 3% to 5% versus 2025.
2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to be approximately flat on a Constant Currency basis versus 2025, reflecting better-than-previously-guided performance driven by workforce optimization and other SG&A savings.
2026 full year Adjusted EBITDA is expected to be approximately $2.48 billion to $2.64 billion.
Adjusted Operational EBITDA Margin for the full year 2026 is expected to be 32.9% to 34.3%.
Full year Adjusted Net Income is expected to be approximately $679 million to $838 million. Adjusted EPS is expected to be $1.45 to $1.79.
Q2 2026 Outlook
Q2 2026 Net Yield on a Constant Currency basis is expected to decline approximately 3.6% versus 2025.
Q2 2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow approximately 1.0% on a Constant Currency basis versus 2025.
Q2 2026 Adjusted EBITDA is expected to be approximately $632 million and Adjusted Operational EBITDA Margin for the quarter is expected to be approximately 32.5%.
Booking Environment Update
The Company remains below its optimal booking range following certain execution missteps, exacerbated by softer demand related to heightened geopolitical uncertainty. Recent events related to the conflict in the Middle East have impacted bookings across all three brands, especially in Europe during the summer season. While the near-term environment remains challenging, the Company is taking targeted actions to better align commercial strategy, including marketing, with deployment and revenue management, with the benefits of these actions expected to materialize gradually over time.
Liquidity and Financial Position
The Company is committed to optimizing its balance sheet and reducing Net Leverage. As of March 31, 2026, the Company had total debt of $15.2 billion and Net Debt of $15.0 billion. Net Leverage ended the quarter at 5.3x.
As of March 31, 2026, liquidity was $1.6 billion including approximately $185.0 million of cash and cash equivalents and $1.4 billion of availability under our Revolving Loan Facility.
“During the quarter we delivered better-than-expected cost performance across the business,” said Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd. “As we navigate a more uncertain macroeconomic and geopolitical environment, we are acting diligently to offset those pressures through targeted SG&A savings and broader efficiency initiatives. Based on the actions taken during the quarter, we now expect full year Adjusted Net Cruise Cost Excluding Fuel to be approximately flat to last year, which should help support margins as we continue to strengthen execution across the business.”
Outlook and Guidance
In addition to announcing the results for the first quarter of 2026, the Company also provided guidance for the second quarter and full year 2026, along with accompanying sensitivities, subject to changes in the broad macroeconomic environment. The Company does not provide certain estimated future results on a GAAP basis because the Company is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of certain gains and charges. These items are uncertain and will depend on several factors, including industry conditions, and could be material to the Company’s results computed in accordance with GAAP. The Company has not provided reconciliations between the Company’s 2026 guidance and the most directly comparable GAAP measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation without unreasonable effort.
Malta Eyes Luxury Cruise Growth and Homeporting Expansion
Malta is working to attract more boutique cruise ships and expand homeporting operations, according to Arthur Grima, director of marketing for the Malta Tourism Authority.
In 2025, in addition to 4 million tourists, the destination welcomed 870,560 cruise passengers who visited the country as part of 387 calls.
While overall passenger volume increased by 2.5 percent compared to the previous year, the average number of guests per vessel dropped from 2,339 to 2,250.
According to Grima, the change is related to Malta’s interest in appealing to smaller, more manageable cruise vessels.
“We are attracting a lot of these boutique, smaller ships,” Grima said, highlighting new operations from high-end operators like Ponant, Four Seasons, Orient Express and Aman.
“These are the types of brands and vessels that we are prioritizing because they help us mitigate the crowds. When you have a large ship coming in and 7,000 people enter Valletta at one go, it doesn’t create a nice impression,” he told Cruise Industry News.
In addition to this new focus on smaller vessels, Malta is also expanding the number of overnight cruise calls. The destination saw nearly 46,000 cruisers stay overnight in 2025, up from roughly 30,000 in 2024.
Grima highlighted the economic impact of the longer stays, noting that Malta continues to push for more homeporting business in Valletta.
He said that homeporting operations drive a higher economic impact with pre- and post-cruise hotel stays and additional onshore spending.
Central to the homeporting strategy is the North American market, Grima explained. Guests from the U.S. and Canada currently represent 21 percent of Malta’s total cruise arrivals, making the region the destination’s top source market.
To capitalize on this demographic, Malta is leveraging a new direct Delta Air Lines flight from New York (JFK) launching this June.
“The new Delta flight is a game-changer for us,” Grima said. “It will provide seamless connections for the American visitor. Homeporting is important for us because it works hand in hand with our aviation strategy. It improves connectivity, so it triggers demand both ways.”
The island’s appeal to these passengers and tourists is based on what Grima described as a 9,000-year history.
He said that Malta serves as a historical crossroads of civilizations and offers a unique cultural mix, including a Semitic language written in Latin script and a gastronomy that blends Mediterranean and Middle Eastern flavors.
Grima added that beyond its Grand Harbour, which is a UNESCO World Heritage Site, the destination is highlighted by the world’s only underground megalithic temple, the Hypogeum, as well as medieval walled cities like Mdina.
To manage visitor flow and enhance sustainability, Malta is also promoting excursions to the island of Gozo via a 60-minute catamaran connection from Valletta.
Smaller ships can also visit Gozo directly and take advantage of a dedicated cruise buoy that facilitates tender operations, he added.
Grima noted that spreading the passenger load across the archipelago is a key pillar of the destination’s long-term strategy.
On the infrastructure side, Valletta Cruise Port can currently accommodate up to six ships simultaneously, including four large vessels and two smaller ones.
The port is also advancing its sustainability efforts through shore power infrastructure, which allows docked ships to turn off their engines and eliminate local emissions.
Malta is also investing in other infrastructure initiatives for tourists, including an expansion of the country’s airport and growth in its hotel inventory with brands like Hard Rock, which is opening a property on the island soon.
“We want the visitors to join us and enjoy our culture. We want them to visit as tourists and leave as locals,” Grima said.
“We see the cruisers as a ‘good investment’ because a lot of them return to Malta for longer stays afterward.”
Photo: Arthur Grima, director of marketing for the Malta Tourism Authority with Michelle Buttigieg, North America Representative Malta Tourism Authority.
Wetravel2u's Weblog 