NRMA invests in Coral Expeditions

CORAL Expeditions and the National Roads & Motorists Association (NRMA) have announced a new partnership, which will see “significant investment” in the cruise line to underpin its future expansion plans.

After beginning negotiations last year, NRMA will now take a significant minority stake in Coral, with the mutual insurance company’s Chief Investment Officer Rachel Wiseman saying it believed in the future of expedition tourism.

“There has never been a time when Australian domestic tourism has been more important,” she said.

“We are excited for the opportunity this provides for our members and Australians more broadly to enjoy the incredible experiences Coral offers.

“This investment will help facilitate and grow the services and experiences Coral Expeditions offer and we look forward to the time when it reopens for international visitors to enjoy”.

Coral Executive Director Paul Chacko said the fit between the two organisations was striking.

“Both have long-term planning horizons, a guest and member-focused culture, and significant customer demographic overlap,” he said.

“The current shareholders of Coral Expeditions have supported the transition to a new blue water fleet over the past six years... this new partnership will allow Coral Expeditions to benefit from NRMA’s expertise while continuing its journey to tap strong long-term demand for expedition cruising”.

The management team and organisational structure at Coral will remain unchanged, as will the company’s existing trade and business arrangements.

The investment comes on the back of Coral’s successful resumption of operations following a six-month hiatus (CW 16 Oct 2020), with Coral having since completed 12 successful voyages between its Great Barrier Reef and Tasmanian seasons.

Coral is now poised to begin its South Australia deployment later this month, and its traditional Kimberley season next month.

MEANWHILE, the cruise line’s new ship Coral Geographer (CW 10 Jul 2019) is ready for delivery from VARD’s shipyard in Vietnam, according to Project Manager Frank Krone.

The 120-guest ship is a sister to the 2019-built Coral Adventurer, and is now poised to make her debut in Cairns at the start of next month.