Top Headlines

Donald expects hurricanes to reduce Carnival’s final quarter earnings by up to $0.12 per share

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 26 September 2017 26 September 2017

Arnold Donald, President and CEO of CarnivalCorporation & plc said that several temporary port closures associated with the storms in the Caribbean led to voyage disruptions which are expected to result in an estimated $0.10 to $0.12 per share reduction in earnings in the fourth quarter. “The company has resumed normal operations, with some itinerary modifications and is continuing to deliver exceptional Caribbean cruise vacations to its guests,” he said in a statement.

Carnival third quarter net profit falls to $1.33 billion

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 26 September 2017 26 September 2017

Carnival Corporation & plc, the world’s largest cruise shipping company, has reported a fall both in net and operating operating for the third quarter and nine months of its financial year.

Net profit fell to $1.33 billion in three months to 31 August from $1.42 billion in the same period last year, while operating profit narrowed to $1.39 billion from $1.56 billion. Revenues, however, increased to $5.51 billion from $5.09 billion.

In the first nine months of the company’s financial year, the net profit narrowed to $2.06 billion from $2.17 billion. Operating profit fell to $2.6 billion from $2.47 billion, but revenues again increased, to $13.25 billion from $12.45 billion.

President and Chief Executive Officer Arnold Donald said in a statement: “We delivered another consecutive quarter of strong operational improvement and another third quarter adjusted earnings record. Our ongoing efforts to create demand well in excess of measured supply growth helped to drive five percent higher cruise ticket pricing. We have many innovative efforts to accelerate demand in 2018 and beyond including our recently announced digital streaming channel, OceanView, and our mobile gaming portfolio, PlayOcean, both launching this week.”

Azamara acquires third ship

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 26 September 2017 26 September 2017

Azamara Club Cruises, the upmarket cruise line subsidiary of Royal Caribbean Cruises Ltd., announced today that it has entered into an agreement to purchase a sister ship to Azamara Journey and Azamara Quest, with delivery taking place in March 2018.

P&O Cruises, the UK based contemporary market unit of Carnival Corporation & plc that recently published its summer 2019 itineraries, did not include in them the 30,277 gross ton Adonia that is a sister ship of the Azamara ships.

However, Azamara did not say which one of the six sisters of its two ships currently in service would be in question.

“We are pleased to expand our portfolio by 50%, allowing us to visit even more regions of the world through the acquisition of this sister ship,” said Larry Pimentel, President and CEO of Azamara Club Cruises. “Our loyal guests and travel partners have asked for this expansion for a long time; we are very pleased to deliver this to them.”

The new addition, the Azamara Pursuit, is comparable in size to the Azamara Journey and Azamara Quest. As such, it will also allow visits to unique ports that larger ships are unable to reach. Together, the three ships will support the brand’s commitment to enrich destination immersion around the world, by staying longer in port to allow guests to experience more.

The ship’s décor will be updated to match the brand’s upmarket position. These updates will be similar to the renovations recently introduced on the Azamara Journey and Azamara Quest, bringing guests the experience of a boutique hotel at sea. Information about deployment and itineraries for Azamara Pursuit will be available in October

Azamara Club Cruises adds third ship

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 26 September 2017 26 September 2017

Fincantieri to build a next-generation ship for Cunard

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 25 September 2017 25 September 2017

Fincantieri, leader in cruise ship design and construction, and Carnival Corporation & plc, the world’s largest cruise company, announced today the signing of a memorandum of agreement (MoA) for the construction of one next-generation cruise ship for the iconic luxury brand Cunard.

The agreement will become operational when all the financial and technical conditions will be satisfied.

The ship will be built at the Monfalcone yard and join the Cunard’s fleet in 2022. The 113,000 ton ship will carry 3,000 guests and be the 249th to fly the Cunard flag, the first since 2010 when Fincantieri delivered the Queen Elizabeth, three years after the Queen Victoria was built in 2007. Marking the first time since 1998 that the luxury cruise brand will have four ships in simultaneous service.

“We are very pleased to announce a fourth ship for our immensely popular Cunard brand, which is also one of the most legendary brands in the entire vacation industry,” said Arnold Donald, CEO of Carnival Corporation. “Cunard offers a fleet of unrivaled vessels and one of the most unique travel experiences in the world, which together create an enchanting and memorable vacation for our guests. While today’s news helps drive Cunard’s overall strategic growth plans, we also look forward to launching this next-generation cruise ship to help meet increasing global demand and entice even more travelers to explore the Cunard experience.” Donald added: “Fleet enhancement is an important part of our ongoing goal to exceed guest expectations. This includes replacing less efficient ships with more efficient vessels over time as part of our managed capacity growth”.

Giuseppe Bono, CEO of Fincantieri, stated: “With this agreement we once more link our company's name with Cunard’s, a real icon of the cruise market, confirming us as a shipbuilder able to combine tradition and innovation like no one else in the world. It is a lasting journey that, besides the construction of the two authentic ‘queens’ like Queen Victoria and Queen Elizabeth, stresses the importance of our partnership with Carnival. Bono concluded: “In fact, for this Group we have built 63 ships, representing today almost two-thirds of their fleet, with other 9 to come in the coming years. A cooperation which can be defined as historical, based on relationships of mutual respect and trust”.

Fincantieri has built 78 cruise ships since 1990 (55 from 2002), 63 of which for Carnival’s different brands, while other 33, including agreements, are currently being designed or built in the Group’s yards, 9 of which for the shipowners of the American group.