Positive Carnival
Carnival Corporation is confident it will have a solid financial performance in 2011, according to Vice Chairman and COO Howard Frank. Participating in the company’s recent third quarter earnings call, Frank said that 2011 will also be the first year to drive significant free cash flow, and as capital expenses lessen, the free cash flow is expected to further increase in coming years.
Global Growth
At Royal Caribbean Cruises, future growth will be driven by the company’s different brands and not only by the core brands of Royal Caribbean International and Celebrity Cruises, Richard Fain, chairman and CEO, told Cruise Industry News in an exclusive interview.
For Niche Owners
International Shipping Partners (ISP), told Cruise Industry News that they negotiated, signed and took delivery of the Oceanus in less than a week. ISP CEO Niels-Erik Lund said the company acquired the ship on behalf of Danish investors. Renamed the Sea Spirit, she is now in Freeport until a charterer can be found. Lund said the ship is fully classed and ready to go, but does not expect to reach a charter agreement until mid-year 2011 and is prepared to wait.
Quiet Expansion
American Cruise Line (ACL) recently announced it is introducing a new riverboat on the Mississippi, starting service in 2012. This past August, ACL also reintroduced the paddlewheel Queen of the West in the Pacific Northwest, and earlier this year launched another sea-going vessel to its small-ship fleet.
‘Experential’
While Cruise West “sank,” others are moving ahead with expansion plans, including American Safari Cruises and Innersea Cruises. Innersea is a new brand, launching service with two small ships in the Inside Passage, offering what company executives called “experiential cruises.”
