Hints and tips:
...Separately, cruise operators Carnival and Royal Caribbean told the FT that a single boat in each of their fleets had been affected....
...Globally, there are fewer than 300 cruise ships in operation, according to the Cruise Lines International Association, an industry body which represents 95 per cent of the world’s ocean-going cruise capacity...
...Carnival Cruise Line lifted its profit expectations for the fiscal year as higher prices and strong demand boosted earnings, but warned that the Baltimore bridge collapse would cause a $10mn hit to profits...
...Their shares are up 141 per cent and 161 per cent, respectively, while smaller rival Norwegian Cruise Line has gained 77 per cent....
...Carnival: Carnival Cruise Line will report earnings before the bell and is expected to report an increase in revenue on strong bookings....
...Carnival shares have risen by more than 40 per cent so far this year as consumers have flocked to the cruise line group’s ships in a resilient leisure and travel demand environment....
...Carnival Cruise Line warned of an “unfavourable” $125mn hit from the rising cost of fuel, taking the gloss off forecast-beating third-quarter results and sending shares tumbling....
...“A reasonable person in [Carnival’s] position would have cancelled the cruise,” the judge said in a summary....
...Cruise lines were seen as particularly vulnerable to a fragile economy as they had piled on debt while their fleets were grounded during the coronavirus pandemic....
...Rivals Norwegian Cruise Line and Royal Caribbean are also benefiting, as more holidaymakers return to the sea as the pandemic fades....
...The Cruise Lines International Association forecasts that cruise passenger volumes this year will be 6 per cent ahead of pre-pandemic levels....
...In 2019, some 2mn Chinese tourists took a cruise, compared with 14mn people from the US, according to the Cruise Lines International Association, an industry trade body....
...Still, investors should worry about cruise lines running out of steam. Even after a huge rally, the stock prices of cruise companies are well below pre-pandemic levels....
...During his decades-long tenure as what he called a “carnival barker” at W+K, Riswold helped transform the advertising business by using “the athlete, the sweat and the product” to create the only thing that...
...Companies: Carnival Cruise Line will report earnings before the start of trading while pharmaceutical group Moderna holds its annual investor meeting....
...The vistas are monumental: a cardiogram line of hills foregrounds the desert plateau stretching to the horizon....
...A 14 per cent rise in the week to Monday in the share price of cruise line Carnival Corp, for instance, cost hedge fund short sellers a total of $240mn....
...Robert ArmstrongThe number three and four best-performing stocks in the S&P 500 with total returns of 144 and 125 per cent, respectively, are Royal Caribbean Cruises and Carnival Cruise Lines....
...Arison’s wealth comes from her grandfather, Israeli businessman Ted Arison, who founded Carnival Cruise Lines in 1972 and who, with his second wife Lin, Arison’s grandmother, was also very philanthropic....
...Consider Carnival, the global cruise line. Before the pandemic, its total debt balance was just over $10bn. Today, Carnival sits a lower in the water, its debt has swelled to more than $35bn....
...Carnival has had to contend with a ballooning debt pile, totalling about $35bn as of early September, in the wake of the pandemic. Meanwhile, recovery in cruise bookings has lagged....
...And Carnival’s joint venture partnership with China State Shipbuilding Corporation, CSSC-Carnival, is set to have its first cruise ship to serve mainland China delivered in 2023....
...The software group has named Arnold Donald, the former chief executive of cruise operator Carnival Corporation, and Sachin Mehra, the chief financial officer of Mastercard to its board....
...Hedge funds have lost more than $6bn this year betting against cruise lines and hotels....
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