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 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....
...This year, 31.5mn passengers globally will take a cruise, rebounding above 2019 demand levels for the first time since the pandemic struck, according to projections by the Cruise Lines International Association...
...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....
...Cruise lines Royal Caribbean and Carnival are two of the 10 most heavily shorted companies in the S&P 500 but have confounded short sellers’ expectations by more than doubling in value so far this year....
...Rivals Norwegian Cruise Line and Royal Caribbean are also benefiting, as more holidaymakers return to the sea as the pandemic fades....
...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....
...But some of the best-performing stocks of 2023 have been large cruise lines, now freighted with debt from pandemic shutdowns....
...The Cruise Lines International Association forecasts that cruise passenger volumes this year will be 6 per cent ahead of pre-pandemic levels....
...Companies: Carnival Cruise Line will report earnings before the start of trading while pharmaceutical group Moderna holds its annual investor meeting....
...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....
...The vistas are monumental: a cardiogram line of hills foregrounds the desert plateau stretching to the horizon....
...Its sells were Halliburton, Norwegian Cruise Line, Royal Caribbean, United Airlines and Macy’s. How does any of that work? Dunno. There’s no way of asking....
...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....
...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....
...August 24 to 26; further information and tickets here Notting Hill Carnival Each year over the August bank holiday, revellers descend on Notting Hill for the much-loved Caribbean carnival dating back to...
...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....
...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....
...The structure of the bond, which matures in 2028, puts the lenders “at the front of the line” for any claim on the 12 vessels in the event that Carnival is unable to meet payments, said Ross Hallock, head...
...Cruise lines including Carnival had to refinance large amounts of corporate debt after borrowing heavily amid the pandemic, while the industry suffered damaging publicity when passengers were trapped on...
...Hedge funds have lost more than $6bn this year betting against cruise lines and hotels....
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