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Fri Jun 22, 2012 12:51pm EDT
(Reuters) - Carnival Corp & Plc's (CCL.N) (CCL.L) quarterly profit plunged 93 percent due to rising fuel costs and weaker bookings following the Costa Concordia wreck earlier this year, sending its shares down 3 percent in midday trade.
The European business of the world's largest cruise operator took a big hit after its Costa Concordia cruise liner capsized off the coast of Italy in January, killing at least 25 people. Carnival has said a companywide recovery will take a year or two.
"You had that big accident, and immediately after bookings dried up. It created a hole that Carnival is trying to fill," said Matthew Jacob, senior analyst at ITG, noting that the number of empty cabins on its cruises remains higher than normal.
The company reported on Friday that it earned just $14 million, or 2 cents a share, in the fiscal second quarter ended May 31, compared with $206 million, or 26 cents a share, a year earlier.
Adjusted for unrealized losses on fuel derivatives, earnings were 20 cents a share, topping analysts' average forecast of 8 cents, according to Thomson Reuters I/B/E/S.
Fuel prices increased 12 percent to $756 per metric ton, costing the company an additional $71 million. But Carnival said it expects lower costs and fuel prices in the future, and it raised its full-year profit view.
For the full year, it expects to earn $1.80 to $1.90 per share on an adjusted basis. In March it forecast $1.40 to $1.70.
The forecast did not impress analysts, however, as about 30 cents of the increase was due to expectations for lower fuel prices, not stronger demand.
Carnival said full-year net revenue yields, on a constant dollar basis, are expected "to be down slightly." Including the European cruise line Costa, the company expects a decline of 3 to 4 percent in net revenue yields.
For the last seven weeks, booking volumes excluding Costa have increased 8 percent versus the prior year. Booking volumes for Costa over the same period are up 25 percent.
But ITG's Jacob said that number "could be misleading" as yields - the amount of money spent by each customer per cabin for both the price of the ticket and on items once they are on the ship - are low and future booking trends are weak.
"In a hotel, if a room is not booked on Monday, it does not mean you can't rent it Tuesday. For a cruise liner, if you start Sunday and the cabin isn't sold, you can't sell it later," he said.
Carnival shares were down 3 percent at $33.61 on the New York Stock Exchange.
Royal Caribbean International today announced the opening of Vision of the Seas’ winter 2012-13 Caribbean season for sale. Vacationers can choose among 19 Caribbean and Panama Canal cruise vacations, ranging from 10 to 15 nights and sailing roundtrip from Port Everglades in Fort Lauderdale, Fla. Vision of the Seas’ new seasonal itineraries are destination rich and visit smaller Caribbean islands less traveled by the cruise line’s larger ships.
This winter season, the Vision of the Seas is sailing from Santos, Brazil.
Variations of a 10-night Eastern Caribbean itinerary features calls at Tortola, St. Maarten, Dominica, Antigua, St. Kitts, St. Croix and Martinique. Vacationers also can choose variations of an 11-night Southern Caribbean itinerary aboard Vision of the Seas, calling at Antigua, St. Lucia, Barbados, Grenada, Bonaire, Aruba, St. Kitts, Dominica, and St. Vincent – a maiden port for Royal Caribbean. On a very special holidays and New Year’s cruise, departing Dec. 24, 2012, guests will visit St. Kitts, St. Lucia, Barbados, St. Vincent, Martinique and Labadee, Royal Caribbean’s private beach destination in Haiti.
In response to customer demand, Royal Caribbean also is offering four Panama Canal-transit sailings aboard Vision of the Seas, sailing through one of the largest and most difficult engineering projects ever undertaken, allowing for quicker and safer passage of ships between the Atlantic and Pacific oceans. Two 14-night Panama Canal itineraries will sail from Port Everglades and San Diego on Oct. 5 and 19, 2012 respectively. Two 15-night sailings on March 18 and April 2, 2013 also depart Port Everglades and San Diego, respectively.
Additionally, vacationers can experience the grand tradition of a trans-Atlantic crossing between the ‘old’ and ‘new worlds’ on two sailings aboard Vision of the Seas. A 14-night westbound itinerary sails on September 21, 2012, from Southampton, England, to Port Everglades, calling at Gijon and Vigo, Spain; Lisbon, Portugal; and Ponta Delgada, Azores. The 13-night eastbound itinerary sails on April 17, 2013, from Port Everglades to Southampton, England, calling at Lisbon; Vigo, Spain; and Normandy (Le Havre), a French gateway to Paris.
Tags: Royal Caribbean Vision Of The Seas To Caribbean And Panama Canal
In a major boost for the tourism industry, the world’s largest cruise line – Carnival Cruise Lines – has announced that it will base one of its cruise ships fulltime in Australia.
The 88,500 tonne Carnival Spirit will be the largest cruise ship ever to sail year round from Australia when she arrives in Sydney in October 2012 to operate a schedule of 8-12 day voyages to the Pacific Islands.
The move – announced globally in Sydney today – represents the first time Carnival Cruise Lines has ever ventured into Australian waters and reflects growing confidence in cruising in the region.
Carrying 2,667 passengers, Carnival Spirit will be the first ship to be based in Sydney year round that is too tall to sail under the Sydney Harbour Bridge. Rising nearly 53 metres above the waterline, Carnival Spirit is more than three metres taller than the specified clearance height for ships passing under the Bridge. Because of its height, Carnival Spirit will be based at the only cruise facility east of the Harbour Bridge, Circular Quay’s Overseas Passenger Terminal.
Founded in 1972 and based in Miami, Carnival Cruise Lines is the best known cruise brand in North America and is expected to carry more than four million passengers this year – the most in the global cruise industry.
As the largest cruise ship sailing from Australia year round, Carnival Spirit offers a wide range of onboard facilities and features, with approximately two-thirds of its cabins featuring private balconies – the most of any Australian-based ship.
Aimed at fun-loving Australians seeking vibrant, active holidays with a broad diversity of on-board choices, Carnival Spirit offers a host of areas for outdoor fun, including a 22 metre corkscrew water slide, four swimming pools, a miniature golf course, jogging track and a sport court. Guests have their choice of 16 lounges and bars, including a 1,170-seat three-deck-high theatre. In addition to a two-level main dining room, Carnival Spirit features a reservations-only steakhouse and an expansive casual poolside restaurant. The ship also houses a two-level health spa with wrap-around ocean views and an Internet café.
Ann Sherry, CEO of Carnival Australia, which represents Carnival Cruise Lines’ Australian deployment locally, said the cruise line’s move into Australia was testament to both the recent growth and the ongoing potential of the local cruise industry.
“Cruising is booming in this country because it offers passengers a great value holiday that includes accommodation, top quality food and loads of entertainment that appeal to all age groups,” Ms Sherry said.
Gerry Cahill, Carnival Cruise Lines’ President and CEO, said the cruise line was looking forward to introducing its unique style of cruising to the Australian market.
“Carnival has become the most popular cruise choice among North Americans by offering an experience that is casual, friendly and fun with a wide variety of activities for guests of all ages, including a huge array of options on our expansive outdoor decks,” Mr Cahill said.
Carnival Spirit will offer a year round schedule of 8 to 12-day cruises to the Pacific Islands and a selection of 13-day sailings to New Zealand beginning October 25, 2012, with the program expected to go on sale by the middle of this year. The shipboard experience will be tailored to the Australian market with onboard spending in Australian dollars and no tipping required.
Ms Sherry said while the primary market would be Australians and New Zealanders, Carnival’s strong brand recognition in the United States would play a role in attracting more US tourists to Australia.
Carnival Spirit’s deployment meant there would be seven Carnival Corporation & plc ships cruising fulltime from Australia by the end of 2012, ensuring the industry was well on its way to reaching its target of one million passengers by 2020, if not sooner, she said. Other Carnival Corporation & plc brands operating fulltime in Australia include P&O Cruises and Princess Cruises.
“It is amazing growth considering there were just two ships based in Australia year round in 2007,” Ms Sherry said.
“This really underscores Sydney’s position on the world cruise map and our resolve to keep growing the market with multiple brands that appeal to customers.”
Tags: Carnival Spirit Australia
With the band warmed up, amps cranked, spotlight set and the adoring crowd ready to explode, Carnival guests will take the stage, grab the mic and live out their music-star daydreams on the open seas. Introducing Superstar Live Karaoke, Carnival Cruise Lines’ newest entertainment feature puts guests into the act, fronting a live band and performing their favorite songs to a packed house.
Superstar Live Karaoke combines two popular forms of entertainment – live music by talented musicians and karaoke by Carnival’s singing sailors – and cranks it up. It is fun for all when aspiring singers or fun-seekers have their moment in the spotlight while a few hundred of their friends, family and fellow guests cheer them on and sing along.
Following a high-energy introduction, the would-be music legend hits the stage to belt out a favorite tune accompanied by talented musicians playing the electric guitar, bass, drums and keyboards, as well as versatile backup singers to provide sweet harmonies.
“We’re thrilled to bring this new entertainment option to the Carnival vacation experience. Superstar Live Karaoke takes Carnival’s participatory fun to a new level with our guests unleashing their vocal talents and fulfilling their musical fantasies while fronting a great live band,” said Gerry Cahill, Carnival’s president and CEO.
Those interested in living their dream as a super star — for one night, at least — simply sign up with the on-site host in the designated Superstar Live Karaoke lounge on board. Participation is available on a first-come, first-served basis.
Guests can channel their inner rock star, pop idol, Motown legend and country crooner, selecting from a list of more than 100 song titles that span a wide variety of musical styles and genres from artists including ABBA to Zac Brown Band and everything in between.
For those about to rock, there are plenty of classic songs from AC/DC, The Beatles, Pat Benatar, Bon Jovi, Joan Jett and others, as well as contemporary hits by artists such as The Black Eyed Peas, Kelly Clarkson, Lady Gaga and Maroon 5.
Guests can add a twang with current and classic country songs made famous by Garth Brooks, Patsy Cline, Taylor Swift, Rascal Flatts, Shania Twain, and others, or pay their respects to soul, rap and R&B greats by performing songs by Aretha Franklin, Marvin Gaye, Michael Jackson, Wilson Pickett and Sir Mix-A-Lot, among many others.
“Super Star Live Karaoke is quickly becoming one of the most popular and exciting activities we’ve ever offered. People love to express themselves through music — we even had a groom sing to his new bride,” said Carnival’s Senior Cruise Director John Heald. “It’s a dream of so many people to perform on a stage backed by a live band, but so few get the opportunity. We’re giving people the ability to live out their dream and just go out and have fun!”
Tags: Karaoke Carnival Superstar
Carnival Cruise Lines will introduce new seven-day eastern Caribbean cruise itineraries from Tampa and Jacksonville, Fla., in 2011. The cruises will be offered on the Carnival Legend from Tampa and Carnival Fascination from Jacksonville both of which are currently based at those ports but have never before offered these itineraries.
From Jacksonville, the recently renovated 2,052-passenger Carnival Fascination will offer a series of six week-long Exotic Eastern Caribbean cruises to Grand Turk, the private Bahamian island of Half Moon Cay, and Nassau, complementing the ship’s popular four- and five-day Bahamas/Key West departures. Departure dates include April 30, May 7, July 23 and 30, and Sept. 17 and 24, 2011.
From Tampa, the 2,124-passenger Carnival Legend will add five new seven-day Exotic Eastern Caribbean cruises featuring Half Moon Cay, Nassau and Key West to its existing week-long western Caribbean cruise schedule. The new week-long Exotic Eastern Caribbean cruises will be offered May 1, June 26, July 24, Aug. 7 and Oct. 16, 2011.
Half Moon Cay is a crescent-shaped island offering magnificent beaches, a children’s water park, private cabanas and a variety of shore excursion opportunities. Grand Turk is an eight-square-mile island paradise with beautiful white-sand beaches, the Caribbean’s largest Margaritaville restaurant and centuries-old historical sites. Known for its perpetually laid back ambiance, Key West has a character all its own, with numerous bars and lounges lining historic Duval Street and myriad watersports opportunities. The Bahamian capital of Nassau offers gorgeous beaches and a host of shops, restaurants and boutiques.
Like other “Fun Ships,” Carnival Fascination and Carnival Legend offer a variety of on-board facilities and features: myriad formal and casual dining options, expansive facilities and programming for children in three age groups, full casino gambling, and a host of live music and entertainment venues. Both ships also offer acres of open deck space and the line’s signature Twister Water Slide. Reservations are currently being accepted for the new week-long Caribbean programs aboard the Carnival Fascination and Carnival Legend.
Tags: Carnival 7 Day Cruises Jacksonville Tamps
For consumers seeking an affordable vacation getaway this fall, Carnival Cruise Lines is offering exceptional advance purchase Early Saver rates on a wide variety of three- to eight-day “Fun Ship” departures, with prices starting at just $209 per person.
In addition to offering unprecedented value, Carnival’s Early Saver program offers the cruise industry’s most attractive rate protection feature that allows for a rate adjustment if a lower Carnival advertised rate becomes available after the booking is made. Carnival will issue the price difference upon request in the form of a non-refundable shipboard credit.
The fall Early Saver promotional rates start at $209 per person for three- and four-day cruises; $279 per person for five-day voyages; $399 per person for six- and seven-day cruises; and $529 per person for eight-day departures.
Early Saver rates are offered up to three months prior to sailing date for cruises of five days or less and up to five months prior to sailing date for longer length voyages, subject to availability. Early Saver fares include all stateroom types, including suites.
Early Saver fall rates listed above reflect category 4A (interior) accommodations on select sailings, are based on double occupancy and subject to change without notice.
Tags: Carnival Deals
MIAMI (May 4, 2010) -- Princess Cruises, a unit of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), today announced that contracts to build two 3,600-passenger ships have been finalized with Italy's Fincantieri shipyard.
The new ships -- which each will have an all-in cost of approximately 155,000 euros per lower berth -- are scheduled to enter service in spring 2013 and spring 2014. At an estimated 141,000 tons, the as-yet-unnamed ships will be the largest in the Princess Cruises fleet.
The ships' design will be evolutionary, in keeping with the themes of the line's newest vessels, but with some new features and innovations. For example, all outside cabins will feature balconies, bringing the percentage of balconies on the ships to 80 percent of all staterooms.
The company's signature Piazza -- the ship's central atrium featuring dining, entertainment and retail -- will be expanded, as will the popular Sanctuary, spa, and restaurants.
"We're pleased that in this challenging economic environment, the order for these new ships is a testament to the confidence in the growth potential of the Princess brand," said Alan Buckelew, president and CEO of Princess Cruises. "These new ships will include the features from our newest ships that have been so well received, and take them to the next level," he added.
Giuseppe Bono, chief executive officer of Fincantieri, said, "We are grateful to the Carnival Group for this further vote of confidence in Fincantieri. We are proud to have met the requirements of Princess Cruises, one of Carnival's most prestigious brands, with an innovative design both from a technical and architectural point of view."
Bono continued, "This is a highly important order for us, especially as it comes in a period of economic crisis. We succeeded in securing these orders with assistance and support of the Italian export credit companies, in particular SACE S.p.A."
Specific amenities and design elements for the new ships will be revealed over the coming months.
One of the best-known names in cruising, Princess Cruises is a global cruise and tour company operating a fleet of 17 modern ships renowned for their innovative design and wide array of choices in dining, entertainment and amenities, all provided in an environment of exceptional customer service. A recognized leader in worldwide cruising, Princess offers its passengers the opportunity to escape completely to the top destinations around the globe, with sailings to all seven continents.
Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line, Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 95 ships totaling more than 186,000 lower berths with 12 new ships scheduled to be delivered between May 2010 and spring 2014. Carnival Corporation & plc also operates Holland America Princess Alaska Tours, the leading tour company in Alaska and the Canadian Yukon. Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the only group in the world to be included in both the S&P 500 and the FTSE 100 indices.
Tags: Princess Cruises New Ships
Single travelers and those traveling alone can experience the fall foliage of Canada/New England cruises on MSC Poesia for new, reduced rates.
Guests who book an interior, oceanview, or balcony stateroom for one on MSC Cruises’ 2010 Canada/New England cruises by August 31, 2010 can save with these new rates.
This special single supplement offer is applicable for Categories 1-11 on MSC Poesia Canada/New England cruises departing from New York and Quebec. Cruise itinerary highlights include:
• 6-night “Maple Leaves & Mansions” cruise from Quebec City and calling in Sydney, Nova Scotia, Canada; Boston, Massachusetts; Newport, Rhode Island; and New York. October 23; single rate was $1,078.20 and is now $718.80 [plus $81.40 pp. government fees and taxes (GFT’s)] for a savings of $359.40;
• 7-night “Scenic Splendors of Fall” cruise from New York City and calling in Halifax, Nova Scotia, Canada; Charlottetown, Prince Edward Island, Canada; Corner Brook, Newfoundland, Canada, and Quebec City, Quebec; Canada, October 2; single rate was $1,258.20 and is now $838.80 (plus $78.50 pp. GFT’s) for a savings of $419.40;
• 10-night “Dazzling Fall Foliage” cruise from New York City and calling in Sydney, Nova Scotia, Canada; Charlottetown, Prince Edward Island, Canada; Quebec City, Quebec, Canada; Halifax, Nova Scotia, Canada; Newport, Rhode Island; and New York. September 22; single rate was $1,798.20 and is now $1,198.80 (plus $72.90 pp. GFT’s) for a savings of $599.40;
• 14-night“Autumn Leaves and Lighthouses,” cruise from Quebec City and calling in Sydney, Nova Scotia; Bar Harbor, Maine; Boston, Massachusetts; Newport, Rhode Island; New York, New York; Halifax, Nova Scotia; and Charlottetown, Prince Edward Island. October 9; single rate was $2,428.20 and is now $1,618.80 per person (plus $129.45 pp. GFT’s) for a savings of $809.40.
Rates are available for residents of the US and Canada; offer is per person, cruise only and subject to availability.
Source: Cruise Industry News
Tags: MSC Singles Cruises Reduced Price