Shares of Viking Holdings rose 9% in their debut on the New York Stock Exchange on Wednesday, giving the travel and cruising company a valuation of $11 billion.Viking opened at $26.15 compared with its initial public offering (IPO) price of $24 in a stellar debut, amid a rebound in stock market listings and at a time when cruise stocks have delivered outsized returns.
Italian shipbuilder Fincantieri has received an order for a new cruise ship from U.S.-based cruise operator Crystal, following the exercise of the option granted under the two-unit agreement from June 2024.The value of the agreement, subject to financing and other terms and conditions, is considered as large, which for Fincantieri means it represents a value between $590 million to $1.07 billion.
Major cruise operators are steering their ships - and millions of dollars in investments - into their own private destinations packed with excursions, beaches, bars and restaurants.The phenomenon appears to have started with Royal Caribbean Group, which in 2019 opened "Perfect Day at CocoCay," an amusement park-like private destination in The Bahamas that has caught the eye of Wall Street.
Fincantieri and Crystal signed Memorandum of Agreement (MoA) for the construction of two cruise ships, plus an option for a third unit. A value for the contract was not available.If built, the new units will be 61,800 gross tons with capacity for approximately 690 passengers, suites with private balconies, as well as several single-occupancy staterooms
Carnival Corp raised its annual profit forecast on Tuesday for the second time this year, banking on higher prices for its itineraries and sustained demand for cruise holidays to destinations such as the Caribbean and Alaska.The company's U.S.-listed shares, which have fallen more than 11% this year, rose 4.3% to $17.05 in premarket trading.
Norwegian Cruise Line Holdings on Monday raised its full-year profit forecast for a second time in less than three weeks, betting on record demand for cruise vacations and higher ticket prices, sending its shares up as much as 7.7%.More travelers are choosing sea-based vacations that offer a range of fun activities under one roof, compared to expensive land-based holidays
Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time.Cruise operators are recording all-time high booking rates as more travelers switch to cheaper sea-borne experiences over expensive land-based alternatives such as booking hotels or flights
ABB has been selected by the Astilleros y Servicios Navales S.A. (ASENAV) shipyard based in Chile to provide a power and propulsion system for Antarctica21’s newbuild boutique expedition ship Magellan Discoverer. Due for delivery in 2026, the vessel is the first hybrid-electric polar cruise ship featuring Azipod propulsion to be built in the Americas.
Royal Caribbean Group projected 2024 profit above Wall Street expectations after robust demand for cruise vacations and steeper ticket prices helped it beat fourth-quarter earnings estimates on Thursday.With travelers opting for cruises instead of more expensive land-based vacation options, operators are experiencing record levels of bookings compared to pre-pandemic levels
SunStone Maritime Group announced it has secured multi-year charters for two of its expedition cruise ships.The deals are for SunStone's Infinity Class vessels Ocean Explorer and the Ocean Odyssey, both built by China Merchants Heavy Industry (Jiangsu) and delivered in 2021 and 2022 respectively.
Viking Vela, the first of a new series of cruise ships that Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona. The delivery is scheduled for late 2024.The vessel will be placed in the small cruise ship segment. She will have a gross tonnage of about 54,300 tons, will be equipped with 499 cabins and will be able to accommodate 998 passengers on board.
Viking has announced the expansion of its river fleet in Southeast Asia with the new Viking Tonle.Designed for the Mekong River, the vessel will join its identical sister ship, the Viking Saigon, which debuted in 2022, and will sail between Kampong Cham, Cambodia, and Mỹ Tho, Vietnam, as part of Viking's 15-day Magnificent Mekong itinerary.