Anticipated total capital expenditures for second quarter 2021 are approximately $90 million which includes health and safety investments. There are likely to be fewer interactions between passengers and crew, and reservations required for group activities, to limit the number of participants, says Virginia Sheridan, spokeswoman for Seatrade Cruise Global, the international cruise industry’s largest professional conference. 1 2 3 … 2,015 Next » Explore S. → Story You’re Creating or Missing . These derivatives were de-designated for accounting purposes in the fourth quarter of 2020 and first quarter of 2021 but still represent economic hedges and may be re-designated in the future. The sum of total cruise operating expense and marketing, general and administrative expense. The Company is experiencing robust future demand across all brands with the overall cumulative booked position for the first half of 2022 meaningfully ahead of 2019’s record levels with pricing higher when excluding the dilutive impact of future cruise credits (“FCCs”). Our teams have worked tirelessly and enlisted the guidance of top public health officials and scientific experts to develop our robust, science-backed SailSAFETM health and safety program, which combines mandatory vaccination of all guests and crew with rigorous preventative measures including universal COVID-19 testing. Join AARP today! Interest expense, net was $824.4 million in 2021 compared to $68.9 million in 2020. The Company has taken the following additional actions to enhance its liquidity since December 31, 2020: The Company's monthly average cash burn for the first quarter 2021 was in line with prior guidance at approximately $190 million, or approximately $170 million per month excluding previously disclosed non-recurring debt modification costs. The credit agreement, originally dated as of May 24, 2013, as amended and restated on October 31, 2014, June 6, 2016, October 10, 2017, January 2, 2019 and May 8, 2020, and as further amended on January 29, 2021 and March 25, 2021, by and among NCL Corporation Ltd. and Voyager Vessel Company, LLC, as co-borrowers, JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent, and various lenders and agents, providing for a senior secured credit facility consisting of (i) the $875.0 million senior secured revolving credit facility and (ii) the Term Loan A Facility. Complicating the attempts to relaunch is the fact that some itineraries include stops at ports in different countries with different (and evolving) health requirements. The Company has scheduled a conference call for Thursday, May 6, 2021 at 10:30 a.m. Eastern Time to discuss first quarter 2021 results and provide a business update. The following table sets forth selected statistical information: Gross Cruise Cost, Net Cruise Cost, Net Cruise Cost Excluding Fuel and Adjusted Net Cruise Cost Excluding Fuel were calculated as follows (in thousands, except Capacity Days and per Capacity Day data): Marketing, general and administrative expense, Commissions, transportation and other expense, Net Cruise Cost Excluding Fuel per Capacity Day, Adjusted Net Cruise Cost Excluding Fuel per Capacity Day. Norwegian Cruise Line Holdings Ltd. established its SailSAFE health and safety program in response to the unique challenges of the COVID-19 global pandemic to protect guests, crew and communities visited. The number of passengers carried for the period, multiplied by the number of days in their respective cruises. Displaying ./code/automate_online-materials/dictionary.txt Itineraries may change as a result. In the next 24 hours, you will receive an email to confirm your subscription to receive emails The panel’s work, including detailed recommendations across five key areas of focus, is informing the Company’s health and safety protocols and has been widely shared with the cruise industry and open to any other industry that could benefit from the HSP’s scientific and medical insights. Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: the spread of epidemics, pandemics and viral outbreaks and specifically, the COVID-19 pandemic, including its effect on the ability or desire of people to travel (including on cruises), which are expected to continue to adversely impact our results, operations, outlook, plans, goals, growth, reputation, cash flows, liquidity, demand for voyages and share price; our ability to comply with the CDC’s Framework for Conditional Sailing Order and any additional or future regulatory restrictions on our operations and to otherwise develop enhanced health and safety protocols to adapt to the pandemic’s unique challenges once operations resume and to otherwise safely resume our operations when conditions allow; coordination and cooperation with the CDC, the federal government and global public health authorities to take precautions to protect the health, safety and security of guests, crew and the communities visited and the implementation of any such precautions; our ability to work with lenders and others or otherwise pursue options to defer, renegotiate or refinance our existing debt profile, near-term debt amortization, newbuild related payments and other obligations and to work with credit card processors to satisfy current or potential future demands for collateral on cash advanced from customers relating to future cruises; our need for additional financing, which may not be available on favorable terms, or at all, and may be dilutive to existing shareholders; our indebtedness and restrictions in the agreements governing our indebtedness that require us to maintain minimum levels of liquidity and otherwise limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the accuracy of any appraisals of our assets as a result of the impact of COVID-19 or otherwise; our success in reducing operating expenses and capital expenditures and the impact of any such reductions; our guests’ election to take cash refunds in lieu of future cruise credits or the continuation of any trends relating to such election; trends in, or changes to, future bookings and our ability to take future reservations and receive deposits related thereto; the unavailability of ports of call; future increases in the price of, or major changes or reduction in, commercial airline services; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; adverse incidents involving cruise ships; adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; any further impairment of our trademarks, trade names or goodwill; breaches in data security or other disturbances to our information technology and other networks or our actual or perceived failure to comply with requirements regarding data privacy and protection; changes in fuel prices and the type of fuel we are permitted to use and/or other cruise operating costs; mechanical malfunctions and repairs, delays in our shipbuilding program, maintenance and refurbishments and the consolidation of qualified shipyard facilities; the risks and increased costs associated with operating internationally; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our expansion into and investments in new markets; our inability to obtain adequate insurance coverage; pending or threatened litigation, investigations and enforcement actions; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; our inability to recruit or retain qualified personnel or the loss of key personnel or employee relations issues; our reliance on third parties to provide hotel management services for certain ships and certain other services; our inability to keep pace with developments in technology; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under “Risk Factors” in our most recently filed Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. EBITDA adjusted for other income (expense), net and other supplemental adjustments. Future travelers can also expect temperature screenings on embarkation and socially distanced seating everywhere — from dining rooms to pool decks. Made In NYC | Between March 1 and July 10, the Centers for Disease Control and Prevention (CDC) discovered nearly 3,000 cases of COVID-19 or suspected COVID-19 and 34 deaths across 123 ships. Get instant access to discounts, programs, services, and the information you need to benefit every area of your life. During the first quarter 2021, overall bookings, net of cancellations, were more than double the volumes during the prior quarter. For instance, you can book a three-day voyage to the Bahamas with Norwegian Cruise Line that departs Miami on July 30, starting at $1,054.33 for a couple, including taxes and fees. But even small ships have had problems with coronavirus infections. What Did the Stock Market Do Today? Adjusted Net Loss. The following table provides amounts hedged and price per barrel of heavy fuel oil (“HFO”) which is hedged utilizing U.S. Gulf Coast 3% (“USGC”) and marine gas oil (“MGO”) which is hedged utilizing Gasoil. The Council will complement the work of the Healthy Sail Panel and continuously evaluate and identify ways to improve health and safety standards after cruise voyages resume, utilizing the best technologies and information available. The Council is cross-functional, diverse and extensively experienced, comprised of six experts at the forefront of their fields and led by Chairman of the Council, Dr. Scott Gottlieb, former commissioner of the U.S. Food and Drug Administration. The industry suffered a public relations calamity when the virus exploded last February on big ships like the Diamond Princess, spurring ports to turn others away out of fear that passengers might transmit it. Please return to AARP.org to learn more about other benefits. “We completed several strategic capital markets transactions in the quarter, raising over $1 billion of incremental liquidity and further extending our debt maturity profile. The Centers for Disease Control and Prevention continues to recommend avoiding “travel on cruise ships, including river cruises, worldwide, because the risk of COVID-19 on cruise ships is very high.” It adds that avoiding cruises is “especially important” for people with an increased risk of severe illness — risk that increases with age. Future travelers can also expect temperature screenings on embarkation, reduced passenger numbers, socially distanced seating everywhere from dining rooms to pool decks, and no self-service buffets. 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