Posted on 09/15/2020 11:50:07 AM PDT by Capt. Tom
Carnival Corp. now says it is getting rid of 18 ships, up from the 13 ships it planned to dispose of in early July. The company did not reveal which ships would be sold or scrapped. Eight have already left the fleets of Carnival’s nine cruise brands, which operate more than 100 ships.
“We continue to take aggressive action to emerge a leaner, more efficient company,” Carnival Corp. President and CEO Arnold Donald said. “We are accelerating the exit of 18 less-efficient ships from our fleet. This will generate a 12 percent reduction in capacity and a structurally lower cost base, while retaining the most cash generative assets in our portfolio.”
Carnival Corp. made the announcement as part of a financial summary in a filing to the SEC. The filing reported a U.S. GAAP net loss of $2.9 billion for the quarter ending Aug. 31 and an adjusted net loss of $1.7 billion.
We will emerge with a more efficient fleet, with a stretched-out newbuild order book and having paused new ship orders, leaving us with no deliveries in 2024 and only one delivery in 2025, allowing us to pay down debt and create increasing value for our shareholders,” Donald said.
The company’s monthly average cash burn rate for the third quarter 2020 was $770 million and is expected to be about $530 million for the fourth quarter. Since cruising ground to a halt in mid-March due to the COVID-19 pandemic, Carnival Corp. has taken actions to preserve cash and secure additional financing to increase its liquidity.....
The company said it is unable to predict when the entire fleet will return to normal operations, although a Carnival Cruise Line representative hinted at a possible return with short cruises in November.
(Excerpt) Read more at travelpulse.com ...
On my next post on this thread, I will post Carnival's SEC filing. I believe Carnival is doing the right thing in downsizing and trying to reorganize and keep their creditors who loaned them BILLIONS at bay.
Carnival like other cruise lines is at the mercy of our CDC, and can be put further into debt by a CDC no-sail extension. -Tom
The western world’s economy is shrinking. And for an economy that depends on continued growth, this is a very bad thing.
It’s like a family that keeps going more and more into debt, but it’s ok because dad keeps getting raises to match. But dad just got laid off and had to get a minimum wage job at McDonalds. Meanwhile, the pay doesn’t even cover the debt service.
This will leave a mark.
I can take one of them off their hands, if the price is right.
Never been on a cruise.
Have always hemmed and hawed over whether it would be fun or not.
Part of me thinks sitting by the pool all day is kinda boring. Not only that, I wonder about the kind of people you’ll run into on a cruise. I guess it depends on whether it’s a Disney cruise or a cruise primarily for singles.
Who buys extra cruise ships?
WTF HAVEN’T the cruise companies gone to TRUMP for RELUEF FROM THE NASTY CDC. CORRUPT CDC
Rename them “Trump-Free Cities”. Free drugs. Free food. XBox in every cabin. Let the Socialists all move aboard...
Aim ship at nearest hurricane.
Lather, rinse, repeat...
I’m like you.
I’m told it’s very dependant on what cruise you pick.
Personally, I despise/hate the Las Vegas scene, more of an outdoors type guy. I’m thinking most cruises are like Vegas and crappy buffet food.
That said, I’d really like to try at least once.
Prison ships to Siberia where they can develop the area. White collar criminals can be the executives. Sheep farms to keep them ‘occupied’. House the homeless where they can be free to shoot up w/o disrupting the public.
Simple answer, with the exception of Norwegian Cruise Lines which operates a cruise ship in Hawaiian waters, all of the others are foreign flag operations.
My wife’s cousin used to go on cruises. She said she liked all the no-strings sex.
Try one of the Delta steamboats on the Mississippi.
I say this as an ex employee of Royal Caribbean....
Cruises are like traveling Vegas casinos. If you would go crazy hanging out at one resort, don’t go.
They are good for visiting places like the Mediterranean (if you want to cover ground) and Alaska (eco tourism). I would do a Galapagos cruise too.
Caribbean? Meh. I would rather go to an upscale adults only (no screaming kids!) all inclusive where I can relax, drink, eat, and maybe gamble. Seeing port towns in the Caribbean is more depressing than fun.
The pool on a cruise is the worst part of the experience, IMO. And I love frying in the sun. It’s crowded. The pools are tiny. You have to save a set of seats at 7am. On and on.
Use them as BLM cruises. one way to havana. Repeat as often as necessary.
I want one to put in my pond.
Oh I forgot. The cruise line determines the clientele.
Carnival is tats, loudmouths and weekend warrior drunks in my experience. It’s a party.
Disney is families.
All 3-5 day cruises will be more raucous than a week or more.
Royal is ok. It’s a mid price line and you get a lot of families.
I would take a more upscale line like Celebrity, with an older clientele, over Royal. It used to serve better food. It had fewer kids, and fewer amenities for kids. That said, last time I went on Celebrity, the food was dumbing down to Royal level. It still had a much more conservative set of passengers though.
you spelled 'africa' wrong.
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