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Cruise Ship Stocks Sink as Royal Caribbean Plans to Raise Capital

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A Celebrity Infinity Cruise ship, owned by Royal Caribbean Group, in Miami.


Joe Raedle/Getty Images


Royal Caribbean Group

unveiled plans Tuesday to raise $1 billion in new capital, the latest effort by a cruise operator to shore up liquidity as business remains sharply curtailed by the pandemic.

Royal Caribbean (ticker: RCL) said it has launched a private offering of $500 million in senior convertible notes due 2023, with a purchaser option to buy an additional $75 million of the convertible notes. It has also launched a public offering of $500 million shares of common stock, with an underwriter option to buy $75 million in additional shares.

Shares of all three major U.S. cruise operators were lower after the news. Royal Caribbean was down 10.9%, at $62.19, in recent trading, while rival

Carnival

(CCL) was off 6.5%, at $14.22, and

Norwegian Cruise Line Holdings

(NCLH) was down 6.9%, at

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Mystic Cruises buys Vasco da Gama, first CMV ship to be auctioned

Portugal-based Mystic Cruises is the buyer of Vasco da Gama, the first of five vessels operated by insolvent Cruise & Maritime Voyages that are being auctioned this month.

The 630-cabin Vasco da Gama was auctioned by CW Kellock & Co on October 9. The sale price has not been disclosed.

Mário Ferreira, chairman of Mystic Invest, parent company of Mystic Cruises — and Seatrade Cruise Personality of the Year 2020 — called the acquisition an ‘opportunity to grow the company’s fleet and to better position it for the expected uptake of the market after the COVID-19 pandemic.’

Smaller ship focus

He said, ‘Our focus is on smaller cruise ships, under 1,000 passengers, to create a more personalized, safe and intimate cruise experience for our guests,’ adding, ‘We believe that this segment of the market is better placed to answer to what cruisers will expect in the near future.’

Currently docked

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P&O Cruises takes delivery of LNG-powered ship | News

Also the largest cruise liner ever built for the UK market, boasting 17 guest desks, 13 entertainment venues, a gin distillery and 16 whirlpool, Ioana weighs 185,000 tonnes and is the length of four football pitches (345m).

Powered by LNG, Iona’s eco-friendly drive system prevents the emission of sulfur dioxides and soot particles.

iona_103992_herman_ijsseling__PM_752x414

As gasworld highlighted in its recent feature, IMO 2020 – A new wave in LNG, 2020 is a key year for the LNG business. IMO 2020 takes effect and the maritime industry implements a new sulfur cap on its fuels. LNG is regarded as key to compliance with these new regulations.

Under the new global cap, in force from 1st January 2020 by the International Maritime Organisation (IMO), ships have to use marine fuels with a sulfur content of no more than 0.50% against the current limit of 3.50%, in an effort to reduce the

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P&O Cruises welcomes new cruise ship in British ‘first’ ahead of holidays 2021 | Travel News | Travel

P&O Cruises now has a new cruise ship to add to its fleet. The Iona joined last week at an official handover ceremony with the Meyer Werft shipyard in Germany, in the latest cruise news. She is the largest cruise ship ever built for the UK market.

The area is a tranquil pool environment by day with dining and entertainment by night.

Here, guests can expect specially commissioned aerial entertainment shows under the stars when the Iona sets sail.

Holidaymakers will also be able to enjoy craft individual gins at the first-ever gin distillery at sea or unwind in the Oasis spa featuring a range of destination-themed treatments.

Iona will have eight speciality restaurants including yet-to-be-unveiled concepts.

DON’T MISS

There will also be 13 entertainment venues, four swimming pools – including a spectacular infinity pool at the aft of the ship – and 16 whirlpools.

P&O Cruises president, Paul Ludlow,

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America’s first female captain of a mega cruise ship has been at sea for 310 days. She wouldn’t want it any other way.



a drawing of a person: Insider Graphics

© Insider Graphics
Insider Graphics



a person sitting at a table in front of a window: Kate McCue was the first female captain of a mega cruise ship. Celebrity Cruises

© Celebrity Cruises
Kate McCue was the first female captain of a mega cruise ship. Celebrity Cruises

  • Kate McCue, captain of the 2,918-passenger Celebrity Edge, is the first American female captain of a mega cruise ship.
  • She’s among only 2% of the world’s female mariners and hopes to inspire other women to follow in her footsteps.
  • She says Celebrity Cruises went from having a 3% female bridge team when she started in 2015 to over 27% today.
  • McCue is on Insider’s list of Luminaries: 25 women pushing boundaries and accomplishing extraordinary feats. Check out the full list here.
  • Visit Insider’s homepage for more stories.

“Everything’s better on the ship. You know, this real world sucks,” Captain Kate McCue told Insider back in December 2019.

“I would prefer five months on to two weeks off. That would be fine,” she said about her work schedule, which

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New ship Iona ‘a very positive signal’ for cruise industry

P&O Cruises has taken delivery of the largest cruise ship built for the UK market.



a building covered in snow: P&O Cruises has taken delivery of the largest cruise ship built for the UK market (P&O Cruises/PA)

© Provided by PA Media
P&O Cruises has taken delivery of the largest cruise ship built for the UK market (P&O Cruises/PA)

Iona weighs 185,000 tonnes, is 345 metres long and has 17 passenger decks.

It has a maximum capacity for 5,200 holidaymakers, before social distancing measures are taken into account.

Features include a glass dome roof above a dining and entertainment venue, and a gin distillery.

The ship was due launch in May but that was delayed due to the coronavirus pandemic.

Passengers will have to wait even longer to experience Iona, as P&O Cruises has suspended its operations until

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P&O Cruises’ new cruise ship Iona has officially joined the company’s fleet

P&O Cruises has taken delivery of its brand new cruise ship, Iona.

At 185,000 tonnes and 345m in length with 17 guest decks, it will be the largest cruise ship ever built for the UK market.

The cruise line officially took delivery of the the Meyer Werft shipyard in Germany on Friday.

Iona had originally been set to make her debut in May 2020, but this was delayed due to the impact of the coronavirus pandemic on the cruise industry.

In fact, P&O Cruises has currently temporarily suspended all operations until early 2021 as a result of this impact.

Still, it was a milestone moment for the cruise line as Iona officially joined the fleet.



a large ship in a body of water: P&O Cruises' new ship is called Iona

© P&O Cruises
P&O Cruises’ new ship is called Iona

There’s no denying that she’s set to make for glamorous cruise holidays.

The ship will boast an on-board gin distillery (the first ever at sea),

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P&O Cruises officially welcomes new ship Iona to its fleet – a “positive signal for the future”

SOUTHAMPTON, England, Oct. 12, 2020 /PRNewswire/ — At an official handover ceremony with the Meyer Werft shipyard in Germany on Friday, P&O Cruises took ownership of Iona, the latest addition to its fleet and the largest cruise ship ever built for the UK market.

At 185,000 tonnes, 345m in length with 17 guest decks and setting new ground for guest experience, Iona is the first British cruise ship to be powered by liquefied natural gas (LNG).

P&O Cruises president, Paul Ludlow, who was present at the event in Papenburg and signed the Protocol for Delivery and Acceptance said:

“Iona’s delivery is a very positive signal for the future of cruising. She is now officially part of the P&O Cruises fleet and we are focused on readying her to welcome guests during her new maiden season to Northern Europe, Spain, Portugal and the Canary Islands from our

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Cook Strait: New cruise ship berth at Picton could raise pollution, says engineer

A view of Picton from the Tirohanga Track, Marlborough. Photo / Supplied

By Tracy Neal, of RNZ

Plans to expand Picton’s ferry terminal would place a heavy burden on its environment unless properly managed, a seagoing marine engineer says.

A major upgrade is planned to accommodate the new-generation of ferries which cross Cook Strait, and would include a new cruise ship berth almost right in front of the township.

Concern was brewing about the potential for more pollution to billow from larger ships docked at the wharf.

Read More
• Plans for shipping container cafe on Picton foreshore scuppered
• Covid-19 coronavirus: ‘Thousands’ queue at ferry terminal as Kiwis scramble to get home

Brent Yardley lives in the Marlborough Sounds, worked on ships’ engines, and studied atmospheric pollution as part of his engineering degree.

He said the air pollution produced by ships was often trapped in the surrounding hills, and

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New cruise ship berth at Picton could raise pollution



a palm tree with a mountain in the background

© RNZ / Tracy Neal


Plans to expand Picton’s ferry terminal would place a heavy burden on its environment unless properly managed, a seagoing marine engineer says.

A major upgrade is planned to accommodate the new-generation of ferries which cross Cook Strait, and would include a new cruise ship berth almost right in front of the township.




a large body of water with a city in the background

© RNZ / Tracy Neal


Concern was brewing about the potential for more pollution to billow from larger ships docked at the wharf.

Brent Yardley lives in the Marlborough Sounds, worked on ships’ engines, and studied atmospheric pollution as part of his engineering degree.

He said the air pollution produced by ships was often trapped in the surrounding hills, and was likely to get worse.

“Well what triggered my concern was what I was seeing with

… Read More