Ships Nostalgia banner

1 - 3 of 3 Posts

·
Premium Member
Joined
·
5,620 Posts
Discussion Starter · #1 ·
When we were discussing Norway/Blue Lady and Star, I looked up the full set of Star 2005 accounts on the internet. Star is the third largest cruise group, but is financially troubled. In addition to the difficulties that Western cruise companies face (oil price, hurricanes, terrorism etc) the Star part of the operation has its own Far Eastern problems (tsunami, SARS, bird flue etc). In relation to their size, Carnival has very lightly used borrowing facilities, RCC significant debts and Star is very heavily in debt. I have made the following comparison between the three groups for the year 2005 on the basis of income and costs per passenger day : -

Passenger days sold: Carnival 50.4 million; RCC 23.2 million; Star 9.2 million

Ticket income per pax/day: Carnival $166.15; RCC $155.7; Star $139.22

On-board income per pax/day: Carnival $46.72; RCC $55.83; Star $74.14

Operating costs per pax/day: Carnival $167.52; RCC $173.91; Star $197.63

Interest costs per pax/day: Carnival $6.13; RCC $8.97; Star $13.43

Profit per pax/day: Carnival $44.76; RCC $28.65; Star $1.97

Net Profit: Carnival $2,257 million; RCC $664 million; Star $18 million.

All three groups are dependant upon on-board income, but it absolutely critical to Star. Their very high income level is believed to mainly come from Chinese gamblers in the extensive casino facilities in the Far East based ships. It is interesting that Carnival succeeds in generating the highest ticket prices in combination with the lowest operating costs and interest charges.

Fred
 

·
Registered
Joined
·
949 Posts
Very Interesting Fred in particular Carnivals lack of borrowing, maybe it is RCLs ultra large ships in the pipeline that causes the debt.

Paul
 

·
Registered
Joined
·
3,235 Posts
Thanks for the stats Fred, interesting comparision from my days in the industry, wish we had some of the revenue figures enjoyed today.
 
1 - 3 of 3 Posts
Top