Norwegian alleged finance issues

[life is to be happy]

so with a few videos and news about NCL in financial issued (allegedly) what does this mean for NCL cruisers

 

Having heard quite a bit over the past couple of days what does this mean for NCL cruisers

 

My family and I have cruised with NCL on EPIC and totally loved it - the main thing we loved was the variety  of entertainment they had  - it was amazing.

We have mainly cruised with  Royal Caribbean but after cruising on EPIC pre pandemic we have wanted to cruise again with them to see if this was what it always like however we cruised last year with Royal as cruise In  the Med when we were cruising was only in EPIC but I didnt want to go on EPIC as it was the same shows so went on Royal which was great however I was really looking forward to going with NCL but as the entertainment was the best thing on NCL hearing they are cutting back on entertainment park has worried me... what does this mean? will there be shows or will it be making own entertainment with karaoke ... I hate karaoke...not my ida entertainment ... just saying... will we go on cruising where there is no entertainment ... so why bother going and paying a lot of money without any entertainment ... or nothing of interest.. just wanted other peoples thoughts as it has certainly played pause in me booking a cruise with NCL

 

[njkate]

1 minute ago, life is to be happy said:

so with a few videos and news about NCL in financial issued (allegedly) what does this mean for NCL cruisers

 

Having heard quite a bit over the past couple of days what does this mean for NCL cruisers

 

My family and I have cruised with NCL on EPIC and totally loved it - the main thing we loved was the variety  of entertainment they had  - it was amazing.

We have mainly cruised with  Royal Caribbean but after cruising on EPIC pre pandemic we have wanted to cruise again with them to see if this was what it always like however we cruised last year with Royal as cruise In  the Med when we were cruising was only in EPIC but I didnt want to go on EPIC as it was the same shows so went on Royal which was great however I was really looking forward to going with NCL but as the entertainment was the best thing on NCL hearing they are cutting back on entertainment park has worried me... what does this mean? will there be shows or will it be making own entertainment with karaoke ... I hate karaoke...not my ida entertainment ... just saying... will we go on cruising where there is no entertainment ... so why bother going and paying a lot of money without any entertainment ... or nothing of interest.. just wanted other peoples thoughts as it has certainly played pause in me booking a cruise with NCL

 

You can click on any mass market cruise line on here, scroll through the posts and people are posting the same as far as cut backs, pricing etc.

 

The news about NCL’s offering is not alarming, it’s been done by major companies before and will continue to be done when companies try to restructure their debt load 

[www3traveler]

Given what busines's in general and all cruise ship companies in particular, I am not surprised at all.  Normal course of business given what everyone has been through in the last couple of years.  Just saw a news story this morning talking about the number of churchs that have closed or will close beacause of money issues.

 

Will it keep me from booking a Norwegian cruise, NO.  I have several booked for 2023.

[oteixeira]

The sold new senior notes expiring in 2028 to pay off senior notes expiring in 2024.  The took on no new debt.  Basically they were shuffling lounge chairs on the lido deck.  Much ado about nothing.  They are no better or worse off then they were a month ago.  All of the cutback news is them trying to make as much money as they can to get back to where they were pre-pandemic which is going to take a lot of time and profits.

[Heronymous]

I'm currently on the Getaway and we were on it as well about 4 months ago. We're very disappointed on this cruise, the experience is definitely watered down and cost cutting measures are evident everywhere. Food quality is not what it was, the ship is not being maintained cosmetically as well as it used to be, it's the type of experience I've seen at other venues where they can't afford the upkeep and decide this light bulb doesn't need to be changed right now, we'll do it next month.. This rusty metal can go a few more months before we have to fix it, this peeling paint can go another few months before we bother to fix it... And heck, let's close the buffet 4 hours earlier and skip the snacks... And let's get the lower priced comedians on the ship and save a few bucks, no one will notice the difference in quality.

 

Except we have. I'm very disappointed in this cruise and I'm only a few days in. I've never sailed other cruise lines and sail twice a year on average. I know cost cutting measures are happening in all industries, all cruise lines, and I totally get it... But NCL raised prices and diluted the experience to the point that we are now going to try other cruise lines. It doesn't mean we won't sail NCL again, but we're unsatisfied to the point that I can't in good conscience book another NCL cruise without testing the waters with other cruise lines. Everyone has their own opinions, some fanatics will lose their mind that I'm insulting NCL, but it's just how I feel, and entire family as well.  I can't imagine it's just us, but for us it's time to try other lines now.

[LatinaInTexas]

5 minutes ago, Heronymous said:

I'm currently on the Getaway and we were on it as well about 4 months ago. We're very disappointed on this cruise, the experience is definitely watered down and cost cutting measures are evident everywhere. Food quality is not what it was, the ship is not being maintained cosmetically as well as it used to be, it's the type of experience I've seen at other venues where they can't afford the upkeep and decide this light bulb doesn't need to be changed right now, we'll do it next month.. This rusty metal can go a few more months before we have to fix it, this peeling paint can go another few months before we bother to fix it... And heck, let's close the buffet 4 hours earlier and skip the snacks... And let's get the lower priced comedians on the ship and save a few bucks, no one will notice the difference in quality.

 

Except we have. I'm very disappointed in this cruise and I'm only a few days in. I've never sailed other cruise lines and sail twice a year on average. I know cost cutting measures are happening in all industries, all cruise lines, and I totally get it... But NCL raised prices and diluted the experience to the point that we are now going to try other cruise lines. It doesn't mean we won't sail NCL again, but we're unsatisfied to the point that I can't in good conscience book another NCL cruise without testing the waters with other cruise lines. Everyone has their own opinions, some fanatics will lose their mind that I'm insulting NCL, but it's just how I feel, and entire family as well.  I can't imagine it's just us, but for us it's time to try other lines now.

Sorry to hear this, I will be on the Getaway in May, trying NCL for the first time.

My last 2 cruises last year were on Carnival and MSC. I have yet to see or feel any differences or cutbacks. I have no complaints on any cruise line I have sailed I just want to try new things.

I'm beginning to wonder am I just lucky in picking ships that have had no issues or am I just too easy going, easy to please that I haven't noticed what so many others are talking about. Or will my luck finally run out on my next cruise lol.

[njkate]

10 hours ago, Heronymous said:

I'm currently on the Getaway and we were on it as well about 4 months ago. We're very disappointed on this cruise, the experience is definitely watered down and cost cutting measures are evident everywhere. Food quality is not what it was, the ship is not being maintained cosmetically as well as it used to be, it's the type of experience I've seen at other venues where they can't afford the upkeep and decide this light bulb doesn't need to be changed right now, we'll do it next month.. This rusty metal can go a few more months before we have to fix it, this peeling paint can go another few months before we bother to fix it... And heck, let's close the buffet 4 hours earlier and skip the snacks... And let's get the lower priced comedians on the ship and save a few bucks, no one will notice the difference in quality.

 

Except we have. I'm very disappointed in this cruise and I'm only a few days in. I've never sailed other cruise lines and sail twice a year on average. I know cost cutting measures are happening in all industries, all cruise lines, and I totally get it... But NCL raised prices and diluted the experience to the point that we are now going to try other cruise lines. It doesn't mean we won't sail NCL again, but we're unsatisfied to the point that I can't in good conscience book another NCL cruise without testing the waters with other cruise lines. Everyone has their own opinions, some fanatics will lose their mind that I'm insulting NCL, but it's just how I feel, and entire family as well.  I can't imagine it's just us, but for us it's time to try other lines now.

Truth the cutbacks along with higher fares, higher DSC will sour many, enough for NCL to sit up and take notice, who knows.

 

I have a cruise on the Dawn in March, I’ll see how that goes as I’ve a Trans Atlantic booked for April 2024 and will be paying attention to posts/ reviews from this years fall trans Atlantics before I pay off the trans Atlantic 

Edited January 23, 2023 by njkate

[cruiseny4life]

13 hours ago, Heronymous said:

I'm currently on the Getaway and we were on it as well about 4 months ago. We're very disappointed on this cruise, the experience is definitely watered down and cost cutting measures are evident everywhere. Food quality is not what it was, the ship is not being maintained cosmetically as well as it used to be, it's the type of experience I've seen at other venues where they can't afford the upkeep and decide this light bulb doesn't need to be changed right now, we'll do it next month.. This rusty metal can go a few more months before we have to fix it, this peeling paint can go another few months before we bother to fix it... And heck, let's close the buffet 4 hours earlier and skip the snacks... And let's get the lower priced comedians on the ship and save a few bucks, no one will notice the difference in quality.

 

Except we have. I'm very disappointed in this cruise and I'm only a few days in. I've never sailed other cruise lines and sail twice a year on average. I know cost cutting measures are happening in all industries, all cruise lines, and I totally get it... But NCL raised prices and diluted the experience to the point that we are now going to try other cruise lines. It doesn't mean we won't sail NCL again, but we're unsatisfied to the point that I can't in good conscience book another NCL cruise without testing the waters with other cruise lines. Everyone has their own opinions, some fanatics will lose their mind that I'm insulting NCL, but it's just how I feel, and entire family as well.  I can't imagine it's just us, but for us it's time to try other lines now.

I cruised Getaway in April, September, and Dec/Jan. We have a cruise booked on Joy in March. Given NCL's penchant for changing the experience from when booked, to when cruising (as is their legal right), we will no longer be cruising any line. Look at all the boards, all the social media pages, all the cruising sites. Every experience (even Regent, Silver Sea, etc.) is being watered down. Unfortunately, this means I'll be cutting ties with cruising and enjoying more land-based vacations where I can control the experience more. 

 

If I, and others, do this, then some lines will not survive. Oh well, that's business. 

[DCGuy64]

59 minutes ago, cruiseny4life said:

If I, and others, do this, then some lines will not survive. Oh well, that's business. 

True, although that's a pretty big "if," in my opinion.

[cruiseny4life]

12 minutes ago, DCGuy64 said:

True, although that's a pretty big "if," in my opinion.

Sure is! And I hope it doesn't happen. 

[MyAuntFanny]

We just finished a cruise on the Breakaway.  First timers, but sailed with friends who cruise 3 or 4 times a year.  Their take was that they notice the cutbacks -especially in entertainment  and service level -and will stick with other lines.  A bit sad that I  clearly missed out on the glory days of cruising.  I enjoyed the trip, but don't feel any great need to go again, unless it's an unbelievable bargain. 

[MoCruiseFan]

On 1/22/2023 at 11:13 AM, life is to be happy said:

so with a few videos and news about NCL in financial issued (allegedly) what does this mean for NCL cruisers

 

Having heard quite a bit over the past couple of days what does this mean for NCL cruisers

 

My family and I have cruised with NCL on EPIC and totally loved it - the main thing we loved was the variety  of entertainment they had  - it was amazing.

We have mainly cruised with  Royal Caribbean but after cruising on EPIC pre pandemic we have wanted to cruise again with them to see if this was what it always like however we cruised last year with Royal as cruise In  the Med when we were cruising was only in EPIC but I didnt want to go on EPIC as it was the same shows so went on Royal which was great however I was really looking forward to going with NCL but as the entertainment was the best thing on NCL hearing they are cutting back on entertainment park has worried me... what does this mean? will there be shows or will it be making own entertainment with karaoke ... I hate karaoke...not my ida entertainment ... just saying... will we go on cruising where there is no entertainment ... so why bother going and paying a lot of money without any entertainment ... or nothing of interest.. just wanted other peoples thoughts as it has certainly played pause in me booking a cruise with NCL

 

 

 

Anyone can allege anything about anyone at any time.  Its basically just gossip.

[Georgia_Peaches]

All I know is NCL asked MSC if they’d like to buy them out and MSC declined. The struggle is real. 

[Aldeya]

On 1/22/2023 at 11:13 AM, life is to be happy said:

so with a few videos and news about NCL in financial issued (allegedly) what does this mean for NCL cruisers

 

Having heard quite a bit over the past couple of days what does this mean for NCL cruisers

 

My family and I have cruised with NCL on EPIC and totally loved it - the main thing we loved was the variety  of entertainment they had  - it was amazing.

We have mainly cruised with  Royal Caribbean but after cruising on EPIC pre pandemic we have wanted to cruise again with them to see if this was what it always like however we cruised last year with Royal as cruise In  the Med when we were cruising was only in EPIC but I didnt want to go on EPIC as it was the same shows so went on Royal which was great however I was really looking forward to going with NCL but as the entertainment was the best thing on NCL hearing they are cutting back on entertainment park has worried me... what does this mean? will there be shows or will it be making own entertainment with karaoke ... I hate karaoke...not my ida entertainment ... just saying... will we go on cruising where there is no entertainment ... so why bother going and paying a lot of money without any entertainment ... or nothing of interest.. just wanted other peoples thoughts as it has certainly played pause in me booking a cruise with NCL

 

We were on Getaway in December and felt exactly the same as you. The vibe on the ship is different, the crew just doesn't look interested in providing a level of service we used to at NCL And we are very easy going , not picky and easy to please.  But the quality of food, the diminished level of entertainment just doesn't cut it for us anymore.

 

NCL was our preferred cruise line for the last 10 or so years. We understand the need for cutting back but we are looking to other lines.

[jbcallender]

On 1/22/2023 at 10:49 AM, oteixeira said:

The sold new senior notes expiring in 2028 to pay off senior notes expiring in 2024.  The took on no new debt.  Basically they were shuffling lounge chairs on the lido deck.  Much ado about nothing.  They are no better or worse off then they were a month ago.  All of the cutback news is them trying to make as much money as they can to get back to where they were pre-pandemic which is going to take a lot of time and profits.

Except the new bonds will likely be at a much higher interest rate than the ones they are retiring.

[oteixeira]

8 hours ago, jbcallender said:

Except the new bonds will likely be at a much higher interest rate than the ones they are retiring.

That is not true, a lot of the ones they took during the shutdown were very unfavorable towards them due the the nature of their current business (not making any money).  All of the lines have said the short term debt they took on was not at good term rates.

[At Sea At Peace]

10 hours ago, Georgia_Peaches said:

All I know is NCL asked MSC if they’d like to buy them out and MSC declined. The struggle is real. 

 

Huh?

 

Link?

 

🤨

[At Sea At Peace]

32 minutes ago, oteixeira said:

That is not true, a lot of the ones they took during the shutdown were very unfavorable towards them due the the nature of their current business (not making any money).  All of the lines have said the short term debt they took on was not at good term rates.

 

I believe that you are right.  They certainly would not issue new debt to pay off early maturing debt if the interest rate wasn't lower.

 

So, a look at details.

 

https://finsight.com/sponsor-18150-norwegian-cruise-lines-holdings-ltd?products=HYC&regions=USOA

 

New Issuance - 9%

 

 

Payoff Maturity Early - 12.25-12..50%

 

 

[oteixeira]

10 hours ago, Georgia_Peaches said:

All I know is NCL asked MSC if they’d like to buy them out and MSC declined. The struggle is real. 

I would love to see/know where this is from, because I have not seen nor heard anything about this.

[Georgia_Peaches]

7 hours ago, oteixeira said:

I would love to see/know where this is from, because I have not seen nor heard anything about this.

There was an article posted about it on the MSC board about a month or so ago.

 

Edit:  I have searched for the article and nothing comes up.  Still looking...

Edited January 24, 2023 by Georgia_Peaches

[Crazy planning mom]

While all the lines are cutting back service and food choices, NCL has announced they are reducing  entertainment.  NCL's entertainment has been one of their chief selling points.  I personally thinking reducing entertainment is a mistake.

[ontheweb]

1 hour ago, Crazy planning mom said:

While all the lines are cutting back service and food choices, NCL has announced they are reducing  entertainment.  NCL's entertainment has been one of their chief selling points.  I personally thinking reducing entertainment is a mistake.

I agree with you. I had previously posted that we had cruised on 5 different cruise lines, and NCL had the best entertainment. Does not seem to make sense to me to cut back on what you do better than everyone else.

[Sunnyway]