Costa Moves Up, Seventh Largest Brand

Moving up to become the seventh largest cruise brand in the world in 2004, according to estimates by Cruise Industry News, Costa Crociere will be able to accommodate some 625,000 passengers in 2004.

Costa recently reported that 2003 had been a record year with 557,300 passengers and 4,315,116 passenger days, compared to 462,036 passengers and 3,619,986 passenger days in 2002, and with sales of 785.6 million euros compared to 733 million euros in 2002.

Operating income was 105 million euros, according to Costa, which said it was down compared to 2002 because of strong pressure on prices throughout the year, adding that the price pressure had leveled off at the beginning of 2004.

In related news, Costa also named Gianni Onorato president. Onorato, who was formerly vice president of cruise operations, will report to Chairman and CEO Pier Luigi Foschi.

Part of Onorato's objectives will be to further streamline and innovate the company's core business.

Other appointments include Mario Martini who has been named senior vice president of sales and marketing for the Europe markets and "the rest of the world." Martini was previously vice president of sales and marketing. Meanwhile, Dino Schibuola, chairman and CEO of Costa Cruises in Miami, remains in charge of the markets in North, Central and South America.

Assuming Onorato's previous position as vice president of cruise operations is Antonio De Rosa, who has joined Costa from MSC Cruises.

A central administration and finance department has also been established under the newly appointed vice president and CFO Beniamino Maltese who was formerly vice president and group treasurer.

Comparing Numbers...

Using an exchange rate of $1.20, Costa's reported revenues for 2003 (785,647,000 euros or $942,776,400), translate into revenue per passenger day of $218.48 for 2003, compared to $243.05 for 2002.

The reported operating income translates into $29.20 per passenger day for 2003.

Total costs and expenses are estimated to be 680,647,000 million euros (the difference between revenues and operating income) or $816,776,400 which translates into $189.29 per passenger day.

For 2003, Carnival Corporation reported revenue per passenger day of $201.68 for the group as a whole, operating income of $41.52, and costs and expenses of $160.16.

Royal Caribbean Cruises reported revenue of $188.60, operating income of $26.22 and costs and expenses of $162.38 per passenger day for 2003.

The Star Group reported revenue of $189.45, operating income of $12.40, and costs and expenses of $177.05 per passenger day for 2003.

Cruise News | Top Cruise Stories

From left: Airam Díaz Pastor, president of MedCruise; Carlo Micallaf, Malta Tourism Office; Emre Sayin, CEO of Global Ports Holdings

MedCruise Credits Valletta’s Pioneering Role in the…

May 23, 2018
“For the coming days Malta is the European Capital of Culture, but also the world’s capital of…
Carnival Horizon in Rome

Cruise Companies’ Brand Strategies for Growth

May 22, 2018
Cruise company growth plans range from multiple-to single-brand strategies, according to the…
Holland America vessel sailing from Vancouver

Vancouver Prepares for 25 Millionth Cruise Passenger

May 19, 2018
The Vancouver Fraser Port Authority has announced that it will be hosting a celebration to welcome…
said Jörgen Strandberg, general manager of ANC Advanced Technology, Electric and Automation at Wärtsilä

Wärtsilä: Trim Wings to Fly Higher

May 18, 2018
Virtual reality-enhanced remote navigation may one day lead to unmanned tugs and container ships…
Mein Schiff 2 at Meyer Turku

Meyer Turku Expanding and Hiring

May 17, 2018
With an orderbook stretching into 2024, Finnish shipyard Meyer Turku is investing €200 million in…
A fleet of six new Ponant Explorer-class ships

28 New Expedition Ships and Counting

May 16, 2018
When Ponant’s 180-passenger Le Laperouse is delivered in June, it will usher in a new era for the…
Expedition Market Report

2018 Expedition Cruise Market Report Out Now

May 15, 2018
Cruise Industry News has released the new 2018 Expedition Market Report, offering a comprehensive…
Silver Dawn

Silversea Orders Silver Dawn for 2021 Delivery

May 14, 2018
Silversea Cruises announced it has awarded Fincantieri with an order for another ultra-luxury…
Regent Seven Seas Mariner

Regent Driving Demand to Maximize Pricing

May 14, 2018
Offering it what it calls the most inclusive luxury experience, Regent will up its premium…
Job Listings

Latest Cruise Jobs: May 13

May 13, 2018
A look at recent key job opportunities around the cruise ship industry: Latest Key Jobs: Employer…
Norwegian Joy | Photo: Satoshi Ishihara

Norwegian: Revenue Management System Helps Booking…

May 11, 2018
A propriety revenue management platform at Norwegian Cruise Line has been key to the development of…
Marella Discovery

Marella to Go All-Inclusive for British Market

May 11, 2018
TUI Group said that starting in summer 2019, British cruise brand Marella Cruises will go…

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

105 Ships | 245,134 Berths | $61 Billion | View.

Latest Magazine Issue | Spring 2018

CIN Spring 2018

In This Edition:

Itinerary Planning

Luxury Market

Caribbean

Food + Beverage

Executive Profiles

Expedition

Drydocks