What cruise lines are in debt?

What cruise lines are in debt? The cruise sector had a tough pandemic. What lessons has it learned from the crisis? Covid-19 shut the industry for the best part of two years, leaving the Big Three — Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings — under an unprecedented pile of debt that they will be paying down for years.

How is Norwegian Cruise Line doing financially?

Generated total revenue of $2.5 billion, a record for the Company and up 33% compared to the same period in 2019, and GAAP net income of $345.9 million, or EPS of $0.71. Achieved Adjusted EBITDA of $752 million and Adjusted EPS of $0.76, exceeding guidance of $730 million and $0.70 respectively.

Which cruise ship owes fuel money?

The Crystal Symphony, a luxury cruise ship operated by financially-strapped Genting Hong Kong Ltd., will be seized to repay $1.2 million in unpaid fuel bills if it docks in Miami, amid reports the vessel is being diverted to the Bahamas after a U.S. court issued an arrest warrant.

Which cruise line has most debt?

Covid-19 shut the industry for the best part of two years, leaving the Big Three — Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings — under an unprecedented pile of debt that they will be paying down for years. Carnival is $35bn in the hole, Royal Caribbean owes $24bn and Norwegian owes $13.4bn.

Which cruise line generates the most revenue?

The largest cruise line in the world is Mediterranean Shipping Company (MSC), with a revenue of $22.86 billion. As of 2022, the global cruise line industry has a market size of $7.67 billion.

Is Norwegian Cruise Line going to survive?

Norwegian Cruise Line Holdings (NCLH) Norwegian plans to introduce eight more ships through 2027²¹. In Q3 2022, total revenue reached $1.6 billion, still well below 2019 levels,²² but occupancy and onboard revenue grew significantly, pointing to Norwegian's strong recovery.

Do people go on cruises during a recession?

“Cruise remains an especially appealing vacation option during downturns because of its compelling value proposition relative to land-based alternatives. Also, there is pent-up demand for travel globally which is a powerful tailwind.”

Why is Royal Caribbean losing money?

The company faces lingering debt from when it suspended operations earlier in the pandemic. Booking rates have increased, but concerns about inflation and a possible recession, as well as COVID, remain.

What is the outlook for Norwegian Cruise Line 2023?

Full year 2023 Occupancy is expected to average 103.5%, consistent with prior guidance. As expected, Occupancy in the quarter is slightly lower than the second quarter of 2019, reflecting the Company's strategic shift to longer, more immersive itineraries.

What are the biggest problems cruise lines have?

Some of the environmental challenges that cruise lines need to address are air pollution from heavy oil, wastewater discharge issues, habitat disruption, and overtourism. The 'elephant in the room' is that cruise lines are currently using heavy oil – also known as the dirtiest of the dirty oils.

Is Royal Caribbean in financial trouble?

Royal Caribbean has a massive amount of debt on its balance sheet that it accumulated during the pandemic to stave off bankruptcy. At the end of Q2, the company had $18.7 billion in long-term debt and $1.7 billion in current debt (meaning debt due within 1 year).

What cruise ship got repossessed?

Cruise ship detours to the Bahamas after U.S. judge orders its seizure The Crystal Symphony was supposed to dock in Miami, but ended up in the Bahamas after a U.S. judge granted an order to seize the ship as part of a breach-of-contract lawsuit.

Is Norwegian Cruise Lines financially stable?

In the case of Norwegian Cruise Line Holdings, both the revenue per share (evident from the last five years' TTM data: 2019: 28.67; 2020: 21.68; 2021: 0.08; 2022: 5.74; 2023: 16.54; ) and the 5-year revenue growth rate (-32%) have been on a consistent downward trajectory.

Where do abandoned cruise ships go?

Decommissioned ships are almost always sent to one of two scrapyards. The largest is Alang, located in India's Gulf of Khambhat, which recycles more than half of the world's decommissioned cruise ships. The second largest is Aliaga in Turkey.

Is cruising only for the rich?

Do I need to be rich to go on a cruise? No. While there certainly are cruise lines and cruise itineraries that can cost upwards of $500 a day to sail, there are plenty of lines that offer entry-level fares as low as $50 to $60 a day, particularly for short three- or four-day Caribbean cruises.