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Arnold Donald News

27 Jun 2022

Carnival Expects to Cruise to Core Profit as Strong Demand Blunts High Costs

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Carnival Corp on Friday forecast a core profit for the current quarter, as the cruise operator returns to full operations even as decades-high inflation and surging fuel costs continue to bite.Shares of the company, which have fallen 52% this year, were up about 10% as Carnival also said it expects bookings for the whole of 2023 to be at the top end of their historical range and to benefit from higher prices."Concerning the threat of global recession, while not recession-proof…

26 Apr 2022

Carnival Corp Names Weinstein as Next President & CEO

Josh Weinstein (Photo: Carnival Corporation & plc)

Carnival Corporation & plc, the world's largest cruise company, announced its current Chief Operations Officer Josh Weinstein will assume the role of President and CEO of Carnival Corporation & plc, effective August 1, succeeding Arnold Donald, who is being appointed Vice Chair and member of the Boards of Directors.A 20-year veteran of Carnival Corporation & plc, Weinstein has held critical senior-level roles for the company. In his most recent assignment for the past two years as Carnival Corporation & plc's Chief Operations Officer…

03 Apr 2022

Holland America Line Ship to House Ukrainian Refugees

A Dutch-flagged cruise ship will provide a temporary home to some 1,500 Ukrainians who fled their country in the wake of Russia's invasion.Holland America Line said its vessel Volendam will be used to accommodate Ukrainian refugees as part of an agreement announced by Netherlands and City of Rotterdam government officials. The ship will dock at Merwehaven, a cargo port on the north side of the River Maas in Rotterdam, for three months to provide a temporary home for approximately 1,500 Ukrainians, part of a larger commitment from the Netherlands to accommodate 50,000 people who fled the war in their homeland.“We are in a unique position to accommodate the immediate need for food and housing…

12 Jan 2022

Princess Cruises Pleads Guilty to Violating 'Magic Pipe' Probation

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Carnival Corp.'s Princess Cruises has again pleaded guilty to violating its probation imposed as a result of its record $40 million criminal conviction for its "magic pipe" environmental crimes.The U.S. Department of Justice (DOJ) said on Tuesday that Princess failed to establish and maintain an independent internal investigative office as required after pleading guilty to felony dumping and attempted cover-up charges in April 2017. An engineer aboard the Caribbean Princess revealed…

27 Sep 2021

Carnival Says Cruise Bookings for 2022 H2 Above Pre-pandemic Levels

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Carnival Corp said on Friday cruise bookings for the second half of 2022 were ahead of pre-pandemic levels, in a sign the cruise operator expects a rebound in business as it restarts voyages globally.The company's U.S.-listed shares rose 3.1% to $25.48 as the Cunard cruise line owner said its core earnings will break even early next year and be above pre-pandemic levels in 2023.The cruise sector was among those most affected by the pandemic in 2020 as many ships docked at ports and anchored offshore for months…

07 Apr 2021

Carnival Considers Shifting Home Ports if US Sailing Ban Not Lifted

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Carnival Corp may shift home ports of its cruise ships to other parts of the world if a ban on sailing from the United States is not lifted, Chief Executive Officer Arnold Donald said on Wednesday.Cruise ships in the United States remain under a “no-sail order”, and Carnival has said recent guidelines from the U.S. Centers for Disease Control and Prevention (CDC) on resuming voyages, including ensuring all passengers are vaccinated, are “largely unworkable”.Donald said on Wednesday that Carnival was still working with the CDC on a “practical” approach to resume voyages…

15 Mar 2021

Carnival Corp CEO Sees Two More Tough Years Ahead

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Cruise operator Carnival Corp Chief Executive Arnold Donald has said that shrinking its fleet due to the pandemic will slow its full recovery until 2023, as cruise lines battle a prolonged fallout from on-board outbreaks, the Financial Times reported on Sunday.The cruise company’s full fleet might be sailing by the end of this year but with a smaller fleet it will take longer to recover to pre-crisis revenues, Donald told the newspaper in an interview.Carnival in January reported a bigger-than-expected preliminary fourth-quarter net loss as business was brought to a virtual standstill by the c

23 Feb 2021

Carnival Cashes In On COVID Rebound

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Cruises are renowned for their gargantuan all-you-can-eat buffets. Cruise company Carnival is stuffing its face again with a $1 billion equity raise – its third such helping after Chief Executive Arnold Donald feasted on a combined $2.5 billion in share offerings late last year. It’s not clear that Donald needs the financial calories this time round: Carnival had cash to ride out 15 months of zero sales, assuming monthly cash burn of $600 million, at the end of 2020.Despite ships remaining moored, investors can’t seem to get enough: shares are priced at a mere 3% discount to Monday’s close.

18 Feb 2021

Inside Cruise Shipping's Fight for Survival

Photo Source: Port Everglades

In early 2021, the somber news from the cruise sector continued. For some cruise brands, their own version of “lockdowns” will have spanned an entire year. By late January, 2021, Carnival and others were hesitantly pegging their restarts for April/May 2021, and for some markets, late summer, under a Conditional Sail Order promulgated late last year by the Centers for Disease Control and Prevention (CDC).What else to do but look ahead?In preliminary earnings guidance, Carnival Corporation (NYSE: CCL)…

12 Jan 2021

Carnival Reports $1.9 Billon Quarterly Loss

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Carnival Corp reported a bigger-than-expected preliminary fourth-quarter net loss on Monday as the cruise operator’s business was brought to a virtual standstill by the COVID-19 pandemic.The world’s largest cruise company’s shares fell 2% to $20.04 in morning trading, after plummeting nearly 60% over the last year as the health crisis hammered holiday tourism demand across the globe.Carnival, which extended its pause on U.S. cruise operations until March 31, said it was working to bring all its ships back in service by the end of the year.

30 Sep 2020

Fincantieri Delivers Its First Cruise Ship of the COVID-19 Era

Enchanted Princess (Photo: Fincantieri)

Fincantieri handed over the 145,000-gross-ton Enchanted Princess to Carnival Corp. brand Princess Cruises on Wednesday, marking the Italian shipbuilder's 100th cruise ship delivery over the last 30 years, and the first since the start of the coronavirus pandemic.The milestone delivery was celebrated with a live video message from Italian Prime Minister Giuseppe Conte during a ceremony virtually attended by Micky Arison, Chairman of Carnival Corp.; Arnold Donald, President and CEO of Carnival Corp.…

15 Sep 2020

Carnival's Q3 Losses to Reach Almost $3 Billion

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Carnival Corp said on Tuesday it expects to post a loss of $2.9 billion in the third quarter, hurt by the suspension of cruises due to the COVID-19 pandemic, sending the cruise operator's shares down 3% in premarket trade.The cruise business is one of the worst affected from the health crisis and has forced operators, including Japan’s Luminous Cruise, to file for bankruptcy, or to raise money even at the cost of pledging ships.Carnival, which has already raised billions in debt…

30 Jul 2020

Stalled Cruise Industry Targets Repeat Passengers

Retired New Yorkers Mahlon and Kim Russell have taken 15 cruises over the past 15 years, visiting destinations from Tahiti to St. Petersburg, primarily with Norwegian Cruise Line.After canceling a fall trip to Europe, in July the Russells booked a 10-day cruise around Australia and New Zealand—for January 2022.“We love cruising,” said Mahlon Russell. “But we don’t love it enough to be the first ones out of the gate.”The cruise industry has been hit hard by the coronavirus pandemic…

15 Jul 2020

Carnival to Raise $1.26 Billion in Debt to Deal with COVID-19 Impact

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Carnival Corp is planning to raise about $1.26 billion in a bond offering, the beleaguered cruise operator said Wednesday as it struggles to stay afloat after the COVID-19 pandemic impacted its business.The bond offering is split into a $775 million tranche paying an annual coupon of 10.5%, and 425 million euro-tranche ($484.93 million) paying 10.125%.The senior secured notes are due 2026, with the offering expected to close on July 20, Carnival said.Carnival said the notes will be secured by a second-priority lien…

14 Jul 2020

SMM 2021: Plotting a Course Forward for the Global Maritime Community

Photo: ©Hasenpusch

As the maritime world collectively feels its way forward in a time now defined by the COVID-19 pandemic, the organizers of the SMM in Hamburg, traditionally the world's largest and most influential maritime and shipbuilding trade event, share market overview insights on the economic consequences of the coronavirus pandemic throughout the the shipping industry.The Covid-19 pandemic has turned the world economy on its head. “The recession this year will likely be more severe, and recovery in 2021 will be slower than we anticipated two months ago…

13 Jul 2020

Carnival Makes Leadership Changes at HAL, Costa

Neil Palomba (left) and Gus Antorcha (Photos: Carnival Corp)

Carnival Corporation announced another set of moves within its global leadership team as part of the company's broader efforts to streamline operations and prepare the organization for the eventual resumption of cruising amid the coronavirus health crisis.Gus Antorcha, currently chief operations officer for the group's Carnival Cruise Line brand, has been named president of the company's Holland America Line, while Neil Palomba, currently president of the company's Italy-based Costa Cruises…

10 Jul 2020

Carnival to Resume Voyages in Phases

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Carnival Corp said on Friday it was planning to resume operations in a phased manner and would operate with a smaller fleet on its return, months after suspending trips due to the COVID-19 pandemic.The company’s shares, that have lost more than two-thirds of their value this year, rose as much as 11% to $16.12 in morning trading.The world’s largest cruise operator said it has reduced capital expenditures by more than $5 billion over the next 18 months and raised a couple more billions to navigate through the virus outbreak.The cruise business has been one of the worst hit after several ships,

19 Jun 2020

Carnival Corp Names Weinstein COO

Josh Weinstein (Photo: Carnival Corp)

Carnival Corp on Friday named Josh Weinstein as its new chief operations officer as the company continues to grapple with the global COVID-19 pandemic.Reporting to Carnival Corporation President and CEO Arnold Donald, Weinstein's responsibilities will include oversight of major operational functions, including global maritime, global ports and destinations, global sourcing, global IT and global auditing.Weinstein will retain oversight of Carnival UK, the operating company for P&O Cruises and Cunard, which he managed directly for the past three years.

20 Apr 2020

Carnival CEO Defends Company's Safety Record

Arnold Donald (Photo: Carnival)

Carnival Corp Chief Executive Officer Arnold Donald defended the company’s safety record on Thursday, telling reporters in a media call that Carnival followed protocols from international authorities while handling high-profile coronavirus outbreaks aboard two of its ships.On Feb. 3 the company’s Diamond Princess cruise ship was quarantined in the port of Yokohama, Japan, where 712 passengers were ultimately infected in what was then the biggest concentration of confirmed cases outside China.

20 Dec 2018

Cruise Industry to Cut Carbon Emissions 40%

The Cruise Lines International Association (CLIA) announced an industry commitment to reduce the rate of the global fleet's carbon emissions 40% by 2030, from a 2008 baseline."We aspire to the International Maritime Organization’s vision of a carbon-free shipping industry by the end of the century," said Arnold Donald, global CLIA chairman and president and CEO, Carnival Corp. & plc. "Our commitment to a 40 percent reduction in the rate of emissions by 2030 is a strong first step toward realizing that vision."The commitment to reduce the rate of global fleet emissions by 40 percent is the outcome of a collaborative process designed to build consensus among cruise line leadership.Progress toward the 40 percent target will be measured against a 2008 fleet baseline…

06 Nov 2018

China Cruising: Carnival Corp Launches China JV

Photo courtesy of Carnival Corporation & plc

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), has announced that its cruise joint venture with China State Shipbuilding Corporation (CSSC) will launch this week under the name CSSC Carnival Cruise Shipping Limited. The new China-based cruise company plans to operate its own fleet to serve Chinese cruise guests by the end of 2019.CSSC Carnival Cruise Shipping Limited announced an agreement to purchase two existing ships from Carnival Corporation’s Costa Group, the leading cruise operator in Europe and Asia.

31 Oct 2017

Voices: John Haeflinger, Carnival Corp.

John Haeflinger, VP of maritime policy and analysis, Carnival Corporation (Photo: Carnival Corp.)

While the cruise industry grows globally in earnest, this maritime niche is under the microscope like no other, operating high profile, high design billion dollar ships in and out of some of the most pristine places on the planet. Tasked to keep the company’s ships running efficiently and environmentally sound is John Haeflinger, VP of maritime policy and analysis, who directly oversees the sustainability team at Carnival Corp. Haeflinger shares with Maritime Reporter & Engineering News his insights on the tech and technique to keep today and tomorrow’s fleet running clean and efficient.

25 Sep 2017

Fincantieri to Build a Cruise Ship for Cunard

Image: Cunard

Fincantieri and Carnival Corporation & plc announced today the signing of a memorandum of agreement (MoA) for the construction of one next-generation cruise ship for luxury brand Cunard. The agreement will become operational when all the financial and technical conditions will be satisfied, the shipbuilder said. 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…