Cruise Segment Drives Genting Hong Kong’s Revenue up

Image Courtesy: Dream Cruises

Genting Hong Kong, a part of Genting Group, has seen a surge in its revenue from cruise and cruise-related activities by over 39 percent to USD 908.1 million in 2016 from USD 652.8 million reported a year earlier.

The company said that its net revenue in 2016 rose to USD 689.7 million from USD 496.8 million in 2015, mainly due to an increase in capacity days of 18.7 percent and an improvement of 17 percent in net yield.

Capacity days and net yield improvements were in turn driven by the inclusion of full year contribution from Crystal Cruises in 2016, as compared with its post-acquisition contribution since May 2015 in the previous year, and the launch of Dream Cruises’ Genting Dream in late October 2016.

Although cruise and cruise-related activities recorded a positive EBITDA of USD 62.8 million in 2016, compared to USD 43.4 million in 2015, the group’s EBITDA for the year was negative at USD 91 million, compared to USD 6.2 million in 2015.

Earlier in March, Meyer Werft shipyard in Papenburg, Germany, hosted the float-out of the second mega block of World Dream, a cruise ship being built for Genting Hong Kong’s Dream Cruises.

World Dream, the second cruise ship being built for the company, is expected to join its owner in fall this year.

The 151,300-gross ton cruise ship will be able to accommodate over 3,300 guests and will have a length of 335.4 meters and a width of 37.9 meters.

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Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

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Ferries Asia Summit

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Ferry travel is in the limelight. The potential for driving tourism growth is immense – and for archipelago nations battling with urban congestion, ferry services pose a clean, efficient alternative in everyday public transport. But high-profile ferry accidents have brought ever greater attention to safety regulations for Asia’s maritime travel industry.

Amid these circumstances, how can vessel operators cope with ever-tightening safety requirements, while making the right decisions at the right time to capture rising demand? What are the smartest ways to improve service reliability and fleet quality, that maximize operating and capital spend? What are the industry’s best-practices for sustainable growth, and how can they be achieved?

Play your part! Join us at the Ferries Asia Summit 2017 to push forward the regional debate on making Asia’s ferry industry more progressive, safe, and commercially sustainable. Bringing together fast-ferry, RO-RO and ROPAX vessel owners along with international and domestic maritime regulators, classification agencies, shipbuilders and naval architects, this event connects the entire value chain for a meaningful holistic debate on ferry operations excellence in Asia.

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Comprehensive debates on addressing the complexity of ferry safety in Asia: Is vessel age truly the greatest concern? How significant are other factors, and how can they be addressed?

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INMEX Vietnam 2017

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Singapore Maritime Week 2017

Singapore Maritime Week (SMW) is the leading maritime event in Singapore. Driven by the Maritime and Port Authority of Singapore (MPA), SMW…

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