Carnival news

fred henderson
17th March 2007, 00:03
Carnival Corporation has agreed to sell the Swan Hellenic brand and database to Lord Sterling, the former Chairman of P&O. Lord Sterling is currently looking for a ship to enable him to start operations. Carnival has also agreed to sell Windstar and that company’s ships to Ambassador for $100 million. Both sales are part of its policy to dispose of its small niche operations.
On the other hand it is planning to establish two new mainstream operations in Europe. One is in Spain, with Iberojet, the largest Spanish travel company. The joint venture, which will be 75 % owned by Carnival, will operate Iberojet's current fleet of two modern cruise ships under the Ibero Cruise brand. The joint venture plans to grow that fleet by transferring existing tonnage from Carnival Corporation & plc's current fleet. The other is with the German organisation TUI AG, the world's largest tour operator. The proposed joint venture will develop, market and operate two cruise brands -- Carnival's existing AIDA Cruises and a new TUI Cruises brand aimed at a more mature clientele -- both designed for the German-speaking holiday market.
In the meanwhile Carnival has reported its first quarter 2007 results to the end of February. Profit was up from $251 million in 2006 to $283 million for the three months. Total sales for the period were up from $2.46 billion in 2006 to $2.69 billion. Total fleet utilisation was stable at 104% of lower berth capacity.
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, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 82 ships totalling 147,000 lower berths with 19 new ships scheduled to enter service between April 2007 and June 2011. Carnival also operates Holland America Tours and Princess Tours, the leading tour companies in Alaska and the Canadian Yukon.
Not bad going for a company that started with $6.5 million and a clapped-out ex Canadian Pacific liner 35 years ago.


Jan Hendrik
17th March 2007, 00:06
Thanks for some very interesting news Fred.
Always good to read your updates.
It looks like this market keeps on growing.

Paul UK
17th March 2007, 14:19
Fred very interesting it will be interesting to see what lord sterling does with the brand


Alan Hill
14th May 2007, 19:07
Interestingly I was thinking of investing in Carnival, I sort of get the impression the opinions are positive? Alan Hill Bridgeport, Pa. USA

14th May 2007, 20:37
Well, if you want on-board credit on Carnival cruises, yes Alan!

15th May 2007, 02:48
Makes you realise that each $ you spend at home only marginly helps your home economy, privatley owned small business collectively plays a huge role in every western style nation.