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

Double Norwegian Call

NCLH: Higher Prices, Extended Booking Window

Nov 12, 2019
Norwegian Cruise Line Holdings (NCLH) is seeing strong demand, evidenced by an extended cruise…
Carnival and Royal Caribbean Vessels in Tampa

Cruise Lines 2019 Q3 Breakdown: By the Numbers

Nov 11, 2019
Cruise Industry News takes a look at the financial performance of the “big three” following the…
From the Grandiosa christening

MSC Grandiosa Is Christened

Nov 10, 2019
MSC Cruises has christened the MSC Grandiosa in the city of Hamburg on the fourth and final night…
Edwin Stephen

Cruise Industry Mourns Royal Caribbean's Edwin Stephen

Nov 09, 2019
Edwin W. Stephan, the founder, long time-president, and vice chairman of the board of Royal…
Norwegian Bliss

Norwegian Strategic on Alaska

Nov 09, 2019
Norwegian Cruise Line Holdings (NCLH) President and CEO Frank Del Rio underscored his enthusiasm…
MSC Armonia

MSC Marine Ops Goes Carbon Neutral in Industry First

Nov 08, 2019
MSC Cruises today announced its commitment to become the world’s first fully carbon neutral major…
From the christening of the Roald Amundsen

Roald Amundsen Named in Antarctica

Nov 07, 2019
The Roald Amundsen was officially named today by polar pioneer and godmother Karin Strand in…
Norwegian Bliss

NCLH Reports 2019 Q3; 2020 Ahead in Bookings and Price

Nov 07, 2019
Norwegian Cruise Line Holdings (NCLH) today reported financial results for the third quarter ended…
MSC World Class

Global Cruise Ship Orderbook Update: 117 New Ships

Nov 05, 2019
The month of November has opened with a forward-looking global cruise ship orderbook that continues…
Zinan Liu

Royal Caribbean Getting A Price Premium in China

Nov 05, 2019
“We are the number one brand in China in unaided recall and brand preference tests,” said Dr. Zinan…
Key November Drydocks

Key Cruise Ship Drydocks in November

Nov 04, 2019
A number of large and unique drydock projects take place this November, ranging from the Carnival…
3 New Ships

Three Days, Three New Ships, 13,088 Berths

Nov 01, 2019
The end of October saw three cruise ship deliveries to three major cruise brands as a trio of new…

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

117 Ships | 248,764 Berths | $67 Billion | View

New 2019 Annual Report

CIN Annual Report

In This Edition:

2027 Projections

Global Outlook

North America

Europe

Asia/Pacific

Fleet Data

Market Reports