Virgin Voyages to Build a Massive Terminal at PortMiami
Virgin Voyages, formerly Virgin Cruises, has unveiled its plans for a new terminal at PortMiami.Sir Richard Branson's cruise line said in a press release that the new Virgin Voyages Terminal will be located on the northwest side of the port in Miami, giving it incredible views of the city’s skyline. Construction is due to start next year and will be completed by November 2021, the beginning of the year’s cruise season.“Miami is an incredible city and one of my favourite places to work and play,” Richard Branson said.
Carnival Corp Meets CO2 Reduction Goal
Carnival Corporation, the world's largest leisure travel company, released its eighth annual sustainability report, announcing that in 2017 the company achieved its 25 percent carbon reduction goal three years ahead of schedule and is on track with its nine other 2020 sustainability goals.Looking to the future, the company continues to chart its sustainability journey, using the United Nation's 17 Sustainable Development Goals as a framework to identify new environmental management…
Carnival Scoops Up Port, Rail and Retail Operations in Alaska
A subsidiary of Carnival Corporation has reached a deal to purchase port, railroad and retail operations that form a gateway to the Klondike Gold Rush region, in a major push into the Alaskan tourism industry.Carnival, the world’s largest cruise and leisure travel company, announced Thursday it has entered a purchase and sale agreement through its subsidiary Holland America Princess Alaska Tours to acquire TWC Enterprises Limited’s White Pass & Yukon Route (WP&YR) division, which includes port, railroad and retail operations in Skagway, Alaska.
Luxury Cruise Ships & The French Connection
Edie Rodriguez, the Americas Brand Chairman for PONANT Yacht Cruises and Expeditions, has spent a life and built a career centered on travel, cruise and branding in a most luxurious manner. She was a natural to discuss the booming luxury expedition sector, the next big frontier in the global cruise industry. It is natural, in the U.S., to pronounce PONANT as “po nant,” but the French have a different style and the company name is pronounced “po non,” dropping the ‘t.’ But Edie Rodriquez, charged with spreading the PONANT name in North America, does not get hung up on diction in this case.
Royal Caribbean Will Return to New Orleans
Royal Caribbean International announced it will return to New Orleans with a seasonal home-based cruise ship in late 2018. The 915-foot Vision of the Seas will sail seven-night itineraries to destinations across the Bahamas and Yucatan Peninsula from the Port of New Orleans’ Julia Street Cruise Terminal. The ship will sail on Saturdays. “The Port of New Orleans is thrilled to welcome back Royal Caribbean. We look forward to working productively together for many years to come,” said Brandy Christian, Port President and CEO.
New Horizons: Cruise Industry Challenges & Solutions for 2017
Approximately 130 million Chinese citizens travel internationally, making China the world’s largest outbound travel market in the world. With one-sixth of the world’s population, many recognize this country as a market with huge potential. Until a few years ago, travel by ship was a common mode of transport, but China’s rapid economic evolution has attracted more people to leisure travel opportunities and the luxury holiday experience cruise liners can offer. It is anticipated that the number of Chinese passengers will reach 4.5 million by 2020…
Evac Grows with Influx of Cruise Ship Orders
The cruise business is booming, and Evac said it has benefitted directly with 40 percent annual growth. The cruise business is the fastest-growing category in the leisure travel market, and demand is outstripping supply with average annual passenger growth of over seven percent since 1980. Another record was broken in 2014, with annual occupancy rates exceeding 100 percent and 22.1 million passengers cruising to many of the world’s nearly 1,000 ports. Nearly 23 million passengers are expected to take a cruise in 2016. Cruise lines are currently ordering new vessels for launch during the 2018 to 2026 period, supporting growth of Evac, provider of integrated waste-, wastewater-, and water management systems for the marine, offshore and building industries.
P&O Ferries, MTN Transform Sea Travel Communications
P&O Ferries and MTN Communications (MTN) announce the delivery of high-performance Internet connectivity and access to online content through the first Wi-Fi hot spot on the English Channel. This service is now live on the English Channel on ferries serving the P&O Ferries Dover-Calais route. These vessels are reportedly the first ferries in the world connected to the MTN Terrestrial Broadband Network (TBN), in addition to having back-up satellite connectivity, as many cruise ships do today.
Carnival Extends Deal with Port of New Orleans
The Port of New Orleans and Carnival Cruise Lines signed a new agreement that will keep the world’s largest cruise line sailing at least two ships year-round from New Orleans through 2019. The new agreement supersedes a 2013 three-year extension and offers three one-year options that could guarantee Carnival homeports at least two ships of equal or greater size than the Dream Class and Fantasy Class ships sailing from the Port today through 2022. The new agreement began July 1, 2014.
NY Announces Zero-emissions Retrofit Project
New York’s Governor Cuomo announces retrofitted electric canal boat to demonstrate benefits of no-emission engine; NYSERDA, NYSDOT partnership with Canal Corp. Governor Andrew M. Cuomo today announced the launch of an all-electric dredge tender workboat on the Erie Canal in the Utica area. The project is the result of a partnership with the New York State Energy Research and Development Authority (NYSERDA) and the New York State Department of Transportation (NYSDOT). Additionally…
NTSB Forum on Cruise Ship Safety, Oversight
The National Transportation Safety Board announced it will hold a public forum on cruise ship safety and oversight on March 25-26 in Washington. The forum, Cruise Ships: Examining Safety, Operations and Oversight, will review the regulatory framework, ship design and fire protection, operations and corporate oversight of cruise ships. It will also explore some recent high-profile incidents. The forum's goal is to encourage dialogue among industry stakeholders, regulators, and the general public to better understand cruise ship safety and oversight.
Moody's Revises Carnvial Rating Outlook
Moody's Investors Service confirmed the A2 senior ratings of Carnival Corporation, but changed the rating outlook to negative reflecting the uncertain economic and industry conditions that the company faces in the wake of the attacks on the U.S. on September 11. While Carnival's financial flexibility is strong, its ratings could come under pressure if significant and sustained consumer reluctance to take cruises results in a substantial drop in yield and cash flow from operations. Moody's notes that Carnival currently maintains a large cash balance of $1.2 billion at 8/31/01. This cash balance together with future earnings should enable the company to finance its shipbuilding program without having to increase debt levels.
Carnival's Shares Plummet 40 Percent
Carnival Corporation reported net income of $116.3 million ($0.20 Diluted EPS) on revenues of $959.1 million for its fourth quarter ended November 30, 2001, compared to net income of $193.8 million ($0.33 Diluted EPS) on revenues of $850.3 million for the same quarter in 2000. Net income for the year ended November 30, 2001, was $926.2 million ($1.58 Diluted EPS) on revenues of $4.54 billion, compared to net income of $965.5 million ($1.60 Diluted EPS) on revenues of $3.78 billion for the same period in 2000. Fourth quarter 2001 net income was reduced by $33 million, comprised of an impairment charge of $39 million, primarily related to a write-down in the carrying value of two ships, net of a Costa tax benefit of $6 million. Fourth quarter 2000 included a Costa tax benefit of $27 million.
Military Uses for High-Speed Vessels
By Lara B. Mathews and Karim K. High-speed aluminum vessels are well-recognized and established as providing excellent service in a number of capacities by both private and public operators. These uses include leisure travel and tours and mass transportation of passengers and vehicles. In recent years, the U.S. military has joined the ranks of high-speed vessel users by introducing U.S.-built aluminum twin-hull high-speed vessels for use as Theater Support Vessels (TSVs) and for training exercises. Despite a somewhat uncertain funding climate for these types of vessels in the military, they have performed exceptionally well with demonstrated benefits. The U.S.
First Choice Sells Ships, Completes INTRAV Buy
First Choice Holidays PLC has sold two coastal cruising ships to Cruise West, a US family owned small-ship cruise line for $16.7 million. The two ships were amongst the four cruise ships acquired as part of First Choice's purchase of US-based leisure travel group INTRAV, the acquisition of which the company has completed. The net consideration for the purchase of INTRAV, including the sale of the two ships, is $46.8 million. The two ships that First Choice is retaining have a market value of almost $30 million and generated revenues of $24.3 million in the 12 months to December 31. (Source: www.forbes.com)
Carnival Reports First Quarter Results
Carnival Corporation reported net income of $126.9 million ($0.22 diluted EPS) on revenues of $1.03 billion for its first quarter ended February 28, 2003, compared to net income of $129.6 million ($0.22 diluted EPS) on revenues of $906.5 million for the same quarter in 2002. Earnings for the first quarter of 2003 included nonoperating income of $14.7 million, resulting from net insurance proceeds of $19 million, less certain other nonoperating expenses. Earnings for the first quarter of 2002 included $5 million of nonoperating income. Cruise revenues for the first quarter of 2003 were up 14 percent compared to the same quarter in 2002 due to an increase in capacity of 14.7 percent, partially offset by a decline in the number of guests purchasing air transportation from the company.
Carnival Reports Second Quarter Results
Carnival Corporation & plc reported net income of $127.8 million ($0.19 Diluted EPS) on revenues of $1.33 billion for its second quarter ended May 31, 2003, compared to net income of $194.2 million ($0.33 Diluted EPS) on revenues of $989.9 million for the same quarter in 2002. Earnings per share for the second quarter of 2003 were reduced by $0.02 per share due to litigation and other charges associated with the dual listed company ("DLC") transaction with P&O Princess Cruises plc ("P&O Princess"). In addition, because of the seasonality of P&O Princess' business, the consolidation of P&O Princess' results reduced the company's second quarter 2003 earnings per share by $0.01 per share.