Carnival Corporation & plc, the world’s largest cruise shipping group, said at this time, cumulative advance bookings for the first three quarters of 2017 are well ahead of the prior year at considerably higher prices.

“Since September, both booking volumes and prices for the first three quarters of 2017 have been running well ahead of the prior year,” the company said in a statement.

Arnold Donald, President and CEO, commented: "We enjoyed strong momentum in booking patterns throughout 2016 and therefore are in a stronger booked position entering the new year at higher prices as a result of our ongoing efforts to increase consideration and demand for our brands."

Based on current booking trends, the company expects full year 2017 net revenue yields in constant currency to be up approximately 2.5 percent compared to the prior year. The company expects full year net cruise costs excluding fuel per ALBD in constant currency to be up approximately 1.0 percent compared to the prior year.

As a result of higher fuel prices, forecasted fuel costs for the full year 2017 are expected to increase approximately $200 million (fuel price impact only) compared to the prior year, net of realized fuel derivatives, reducing earnings by $0.27 per share. In addition, unfavorable movements in currency exchange rates are forecasted to reduce earnings by a further $0.16 per share.

Taking the above factors into consideration, the company expects full year 2017 adjusted earnings per share to be in the range of $3.30 to $3.60, compared to 2016 adjusted earnings per share of $3.45.

Donald added, "We are anticipating another solid year of operational improvement in 2017. Despite the unusual and significant impact of fuel and currency working against us simultaneously, the underlying strength in our fundamental business leaves us well positioned to achieve sustained double digit return on invested capital and to create continued value for our shareholders."