RCL Forecast
Royal Caribbean Cruises has provided an earnings forecast for the second quarter in the range from $0.16 to $0.21 per share and from $2.15 to $2.25 per share for the full year, compared to a loss of $0.16 per share for the second quarter of last year, attributed to the H1N1 virus and the recession, and actual earnings $0.75 for the full year 2009. (Second quarter earnings were $0.40 for 2008; $0.60 for 2007 and $0.57 for 2006, and full-year earnings were $2.68, $2.82 and $2.94, respectively.)
Norwegian Loss
Norwegian Cruise Line has reported a loss of $16.1 million on revenues of $416.5 million for the first quarter ended March 31, 2010, compared to net income of $5.2 million on revenues of $424.5 million for the same period last year. The net loss in the first quarter of 2010 included a foreign currency translation loss of $0.3 million, while net income in 2009 included a foreign currency translation gain of $15.4 million.
Bahrain Positioning
Following the opening of the Khalifa Bin Salman Port in 2009, Bahrain has seen an uptick in cruise traffic. According to the Chairman of the General Organization of Sea Ports, Shaikh Daij bin Salman Al Khalifa, “the number of cruise passengers has virtually doubled within the space of one year.” Next season, the port expects calls from 70 ships and 100,000 passengers.
Story Telling
Speaking at the recent 25th annual conference and trade show of the Marine Hotel Association, Disney Cruise Line President Karl Holz outlined how the cruise line has stayed true to its character while evolving and learning from its mistakes.
And there is more: Costa Crociere has opened a sales office in Dubai, targeting Arab markets; Princess Cruises has firmed up its order for two new ships from Fincantieri; disruptions continue to interfere with the industry – from the ash cloud that shut down air traffic in Europe and trans-Atlantic a few weeks ago to the giant oil slick that is now spreading in the Mexican Gulf threatening to shut down ports and interfere with itineraries.
