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 ...
The two best days of your life:
1- You get your boat.
2- You sell your boat.
You need a picture? What do you think goes on on these ships full of drunks and gamblers?
Like was done in the movie Secondhand Lions?
I’ve heard that river cruises in Europe are a great.
Ex-navy / military types that can turn them into living quarters for homeless veterans?
Stand watch to pay your rent.
We did a 14 day Viking River Cruise last May from Budapest to Amsterdam. Loved it.
Then took the high-speed train to Paris for a week, and then the Chunnel train to London for a week.
Time of our lives.
My wife and I would love to go on one of those river cruises, but I think we will have to wait until the kids are out of college before we can afford it.
If Carnival alone was having income problems the other Cruise lines, especially the smaller Cruise lines would buy up the ships.
But all of the Cruise lines are in economic trouble at the same time, and some Cruise Lines are going bankrupt, so I expect many of the excess ships will be stripped of valuable gear, and sent to the scrappers, to be sold for junk value. - Tom
They employ THOUSANDS of AMERICANS!
Unfortunately Carnival is also at the mercy of the UN, the WHO...
I added a 5 day cruise at the end of Nov out of Charleston to my futures...I hope we cruise then but maybe not...
Otherwise I’ll have to continue waiting until Jan...
I still have 3 lots of $600 OBC to disperse somewhere...probably on the sister ship to the new Mardi Gras...the schedule for the Celebration should open next month...
On the ships? Perhaps in the entertainment division and the purser’s department. If I am mistaken let me know.
That's what I want to do. Nothing like a nighttime cruise in Budapest with all the buildings lit up.
NO..at the PORTS ! Security ...Baggage handlers ....check in hosts ....FOOD Companies...Truckers Delivering....Police....OIL COMOANIES...WASTE DISPOSAL...Liquor dealers...so many OTHER companies a d WORKERS!
Almost NO American wants to work as hard as they do ON THE SHIPS!!
Carnival is only selling 50% passenger capacity at present...right through till April 2023 ...so the prices are higher than usual...
Every ship has a total passenger amount that fills the various cabins back the passenger capacity set by law for that particular ship might be lower...they might be able to fit 2,000 but may only carry 1,800 etc...fight now that 1,00 has been halved so that the public rooms are not crowded per CDC and the WHO...thats why some ships appear to be full and no longer appear in the Carnival website as available...
As soon as the CDC allows them to the passenger capacity amount should go back to the usual one and the prices should come down...and the extra cabins will sold...
Yes, you are absolutely correct. A good number of Americans work in the ports that service cruise ships.
There are a few deck officers and marine engineers that are graduates of one the maritime academies in the U.S. and are U.S. citizens.
Those rules will help out cruise lines that do not venture into this country.-Tom
Only carriers at the “able” and “baker” tests were the USS Saratoga CV3 and USS Independence CVL22. The Japanese Battleship Nagato was there, as was the German cruiser Prince Eugen.
Still no TV.
Maybe it was the battleship, then......................
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