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Carnival Sunshine rebuilt to benchmark big refit

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

Recent $155 million transformation of Carnival Destiny into Carnival Sunshine was partly carried out so that Carnival Corp & plc, the Anglo-American cruise shipping group, could gain experience from such a huge project, Howard S. Frank, deputy chairman and Chief Operating Officer of the group, told Cruise Business.

"It was a huge undertaking, it put our guys under a lot of pressure," said Frank, whio spoke to Cruise Business in London. Asked if the project could be seen as a benchmark of such a large project, Frank replied: "Yes, you could say so." It is unlikely that an equally large refit would take place in the near future, he added.

The group will continue to upgrade its vessels, both from commercial and technical point of view, but the extent of work on individual vessels will depend on specifications of the ship in question. Adding decks on top of existing ones will not be possible from stability point of view on all vessels, Micky Arison, chairman of the Carnival group, pointed out during a presentation in London.

Frank stated that as more and more ships enter 15-20 years' age, capital expenditure on mid-life refits is poised to increase. The group is not in a hurry to sell older vessels as long as they continue to generate good returns, Frank said.

Another aspect is the second hand market, which according to him is "not very strong." In recent past,Carnival's P&O Cruises unit sold the 1984 built Artemis for a company that chartered it out to Phoenix Seereisen, the German tour operator, on long term contract. Carnival granted the buyer seller's credit to ensure completion of the deal. "The buyer was very strong and could refinance it (seller credit)," Frank stated, adding that not all potential buyers of second hand tonnage are in this position.

However, once the European economies' recovery gathers momentum, tour operators are potential buyers of second hand ships. Chinese companies also screen the market, with various degrees of intention to enter the cruise sector, Frank concluded.

Britain "financial pillar" for Carnival group

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

Although Carnival Corp & plc, the world's largest cruise shipping group, continued to seek growth in new source markets in the Far East and South America, traditional markets like the UK continue to play a major role in the future of the group, said Arnold. W. Donald, group ceo.

"The UK is a financial pillar for the group," Donald said at the presentation of the name of the new ship of P&O Cruises in London on Tuesday. The 143,000 gross ton ship will be called Britannia.

David Dingle, ceo of P&O Cruises and Carnival UK, said that the British market remains demand driven and it has recorded an average growth rate of 5% from 2008. Last year, however, the market's growth effectively stalled at 1.7 million passengers, but then again no new ships were introduced to target the market.

Britannia will be the eight ship of P&O Cruises and it will grow the capacity of the brand by 24% when it will enter service in March 2015. Dingle forecast that the British market may grow to 2.0 million to 2.5 million passengers by the year 2020. The introduction of Britannia appears well timed as the economic cycle in the country is strengthening.

P&O Cruises name newbuilding Britannia

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 September 2013 24 September 2013

P&O Cruises, part of the Carnival Corp & plc group, have decided to name their 143,000 gross ton newbuilding Britannia, P&O Cruises' chief executive David Dingle said in a presentation in London.

The name was first used by P&O in 1887, when it was allocated to a member of the Jubilee class that also comprised Arcadia, Oceana and Victoria. The two first names are currently used by P&O Cruises.

Carnival Corporation & plc adds McKinsey's Leibowitz to company's senior staff as Ames retires

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 19 September 2013 19 September 2013

Carnival Corporation & plc today announced Josh Leibowitz as the company's executive vice president of group strategy and corporate operations, effective October 1.

Leibowitz, 42, comes to Carnival from the consulting firm McKinsey, where he served as its managing partner of the Miami office and the leader of the company's work in big data and channel management -- experience that will be important as Carnival strengthens its marketing and customer relationship capabilities.

Leibowitz succeeds Richard Ames, senior vice president of corporate business services, who is retiring after 24 years of service.

"Richard has been a tremendous asset to our company and we thank him for his significant legacy, undivided loyalty and dedicated service," said Howard Frank, chief operating officer and vice chairman of Carnival Corporation & plc. "Josh was the first person who came to mind for this role given his tremendous experience with McKinsey."

Before joining McKinsey in 2001, Leibowitz was a managing director at Idealab, where he ran early stage e-commerce companies. He began his career as an entrepreneur founding retail, wholesale and e-commerce businesses.

Carnival group to hold press briefing in London on Tuesday

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 19 September 2013 19 September 2013

Carnival Corp & plc, the world’s largest cruise shipping company and Carnival UK which operates its brands in Britain, will hold a press briefing that will include an overview of the global cruise industry, the UK market and news from P&O Cruises about its new ship, on Tuesday morning.

Carnival Corporation & plc chairman Micky Arison, new CEO Arnold Donald and Carnival UK CEO David Dingle will be present at the event. Later on the same day, 24 September, Carnival Corp & plc will publish interim result of the third quarter of its financial ear.

Cruise Business will attend the event and post coverage on its website.