Last $41.96 USD
Change Today -0.305 / -0.72%
Volume 583.3K
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As of 11:37 AM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3655 NW 87th Avenue

Miami, FL 33178

United States

Phone: 305-599-2600

Fax:

ess In 2013, Princess entered the Cruise segment of the Japanese vacation market with its three-month deployment of the 2,022-passenger capacity Sun Princess on cruises that departed from home ports in Yokohama and Kobe, Japan. These 2014 cruises would range from seven to nine days. The two ships would visit Japan, South Korea, Taiwan and Russia. Cruise Ports and Destination Developments The company’s involvement is in cooperation with governmental entities and includes providing development and management expertise and financial commitments that are connected to long-term port usage and preferential berthing agreements. Sometimes the company provides direct financial support or develops the port infrastructure, including the development and operation of mixed-use commercial properties. During 2013, the company was in various stages of involvement with the development, enhancement and/or financing of government-owned and operated cruise port facilities in Galveston, Texas; Miami, Florida; New York City, New York; Port Everglades, Florida; San Juan, Puerto Rico and St. Maarten, Kingdom of the Netherlands. The company also operates leased or owned port facilities or have interests in joint ventures that operate leased or owned port facilities in Barcelona, Spain; Civitavecchia, Naples, Savona and Trieste, Italy; Hamburg, Germany; Juneau, Alaska; Long Beach, California and Marseilles, France for the benefit of its cruise brands. The company also operates leased or owned port facilities that the company has developed as destinations in Cozumel, Mexico; Grand Turk, Turks and Caicos Islands and Roatán, Honduras, as well as private island destinations in The Bahamas primarily for the use of its North America cruise brands. The company is also developing a port facility destination in Puerto Plata, Dominican Republic, known as Amber Cove. Cruise Ship Repair Facility The company owns a 40% interest in Grand Bahamas Shipyard Ltd. (GBSL), which is a cruise ship dry-dock repair facility, to support its ship repair and maintenance programs. The company utilizes this facility, as well as other ship repair facilities, for its dry-dockings. This repair facility, located in Freeport, Grand Bahamas, has three dry-docks and can accommodate almost all of its ships. During 2013, the company had 13 ships serviced at this facility. Royal Caribbean Cruises Ltd. (RCCL) also owns a 40% interest in GBSL and an unaffiliated entity owned by Grand Bahamas Port Authority owns the remaining 20%. Sales and Marketing The company sells its cruises mainly through travel agents, including retail, online, and home-based agents, as well as wholesalers, general sales agents and tour operators that serve its guests in their local markets. Seasonality The company’s revenues from the sale of passenger tickets are seasonal. All of Holland America Princess Alaska Tours’ revenue and net income is generated from May through September in conjunction with the Alaska cruise season. Regulations Maritime Regulations: The company’s ships are registered, or flagged, in The Bahamas, Bermuda, Italy, Malta, the Netherlands, Panama, Portugal and the U.K, which are also referred to as Flag States. In addition, the company is subject to the decrees, directives, regulations and requirements of the European Union (EU), the U.S. and approximately 500 other international ports that its ships visit every year. Its ships are subject to inspection by the port regulatory authorities, which are also referred to as Port State Control, in the various countries that they visit. Maritime Security Regulations: The company’s ships are subject to various security requirements. These requirements include the International Ship and Port Facility Security Code, which is part of Safety of Life at Sea (SOLAS), the U.S. Maritime Transportation Security Act of 2002, which addresses port and waterway security and the U.S. Cruise Vessel Security and Safety Act, which applies to all of its ships that embark or disembark passengers in the U.S. Maritime Health Regulations: The company collaborates with public health inspection programs throughout the world, such

 

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CCL

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Valuation CCL Industry Range
Price/Earnings 23.4x
Price/Sales 2.1x
Price/Book 1.3x
Price/Cash Flow 8.3x
TEV/Sales 1.0x
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