NCL to buy a ship every year

An independent Norwegian Cruise Line will order one ship per year says Geir Aune, president and ceo of NCL Holdings ASA. Speaking in a press conference he said that the company?s bid for a $510 million loan facility was oversubscribed and the funds would be channelled into new fleet financing.

Mr Aune said that NCL was talking to Lloyd Werft and other yards about future newbuildings. It has a second newbuilding on order from Lloyd Werft for 2001 and is discussing a third vessel with the yard.

Earnings for 1999 are expected to be $44 million and Kristian Siem, chairman of NCL?s board, says this is expected to double in 2000 with the arrival of Norwegian Sky and the lengthening of Norwegian Majesty. Against these predictions he branded Carnival Corporation?s cash offer of NKr30 ($3.71) per share as “opportunistic, based on historical figures and the ?unfortunate incidents? over the last quarter.”

He confirmed that NCL has been talking with Star Cruises but would not comment when asked if he was expecting a bid from Star or any other company.