Norwegian Joins Trash Free Seas Alliance

Norwegian Cruise Line Funnel

Marking World Oceans Day, Norwegian Cruise Line Holdings announced today that it has partnered with Ocean Conservancy. The company will join  Ocean Conservancy’s Trash Free Seas Alliance, actively working toward solutions that will mitigate plastic waste entering the ocean., Norwegian announced.

“The success of our business is dependent on the health of our oceans and, together with Ocean Conservancy, we are taking a step forward in our commitment to protect the world’s oceans,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings. “We are excited to lead the cruise industry by joining the Trash Free Seas Alliance and support Ocean Conservancy’s vision of a world with waterways, beaches and oceans free of plastic waste.”

Founded in 2012, the Trash Free Seas Alliance brings together thought leaders from industry, conservation and academia to create a forum for pragmatic, real-world collaboration focused on the measurable reduction of ocean trash.

”Nothing connects people to the ocean more than time spent on the water, and with Norwegian Cruise Line Holdings offering that experience to more than 2.5 million guests each year, we believe this is a tremendous opportunity to foster greater stewardship of our oceans,” said Janis Searles Jones, chief executive officer at Ocean Conservancy. “What’s more, Ocean Conservancy believes strongly that it will take all of us—including industry leaders—to stem the tide of ocean plastic. We are grateful for Norwegian’s leadership and look forward to working with them to reduce the amount of plastic flowing into the ocean.”

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Norwegian Cruise Line Approves $1 Billion Share Repurchase Program

Norwegian Jewel

Norwegian Cruise Line Holdings today announced that its Board of Directors authorized a three-year, $1 billion share repurchase program.

The company said it may repurchase its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations.

Norwegian said it may make repurchases in the open market, in privately negotiated transactions, in accelerated repurchase programs or in structured share repurchase programs, and any repurchases may be made pursuant to Rule 10b5-1 plans. The program will be conducted in compliance with applicable legal requirements and will be subject to market conditions and other factors.

“The $1 billion share repurchase program authorization reflects our ongoing confidence in our financial strength and the long-term outlook of our business,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “Our strong and growing cash flow will allow us to deepen our commitment to provide returns to our shareholders while continuing to invest in our product, innovation and growth.”

Scanship to Retrofit AWP System on Insignia

Insignia

Scanship announced it had been awarded a contract by Norwegian Cruise Line Holdings to deliver and install a Scanship AWP (advanced wastewater purification) system aboard the Oceania Insignia.

The system will process all grey wastewater sources and black water to the industry highest environmental standard, the company said, in a statement.

“This will be the 13th contract for wastewater retrofit we will be doing for Norwegian Cruise Line Holdings, the second for Oceania Cruises. We are thrilled to continue delivering systems to Norwegian Cruise Line Holdings and supporting their commitment to cleaner oceans and sustainable seafaring,” said CEO Henrik Badin.

This standard is specified as IMO Marpol MEPC 227 (64) with chapter 4.2 for special area Baltic Sea including phosphorus and nitrogen removal. The installation will be done during the fall of 2018.