ModVAVet
12.06.2021 17:36:31
At the end of March, Carnival filed with the SEC to issue $6 billion in stock to shore up its finances. [links]
See full version: Carnival Slump Continues With Sale of Ships and More Cruise Cancelations
At the end of March, Carnival filed with the SEC to issue $6 billion in stock to shore up its finances. [links]
On Sept. 15, Carnival posted a net loss of $2.9 billion for the third quarter of 2020, which ended on Aug. 31. Despite the travel ban, the company has raised $12 billion since March through borrowed amounts and deferred debt repayments. [links]
The travel industry continues to struggle in 2020 amid the COVID-19 pandemic. Carnival Corp., the world’s largest cruise operator, accounts for 45 percent of the world’s cruise industry. In March, the CDC issued a no-sail order to all U.S. cruiseliners. The order got extended into September and will likely be extended further. In a bid to survive the COVID-19 pandemic, Carnival has canceled cruises and sold more of its ships.
In July, Carnival sold its Carnival Fantasy and Carnival Inspiration cruise ships. The company also sold the Carnival Fascination and the Carnival Imagination. According to a Fox Business report, the company has been removing “less efficient ships from its fleet.” The Carnival Fascination and Carnival Imagination ships launched in the mid-1990s.
Carnival’s chief communications officer, Roger Frizzell, said, “We are in the process of removing 18 ships from our global fleet with several ships already removed.” He also said, “Given our pause in cruising, we recently moved up the timetable to remove our older, less efficient ships from our fleet. We have already sold several ships and we [are] currently in negotiations on others.” [links]
Carnival plans to sell 18 cruise ships in total, according to The Washington Post. The company also delayed the delivery of new ships scheduled for 2021 in order to save costs. more
It added these are ships that were previously expected to leave the fleet in coming years, the company said, in a press release.
Carnival said it sold one ship in June 2020, presumed to be the Costa Victoria, and has agreements for the disposal of five ships and preliminary agreements for an additional three ships, all of which are expected to leave the fleet in the next 90 days. The P&O Oceana was also sold earlier this week and is leaving the fleet in July. more
Carnival Corporation said it intends to further accelerate the removal of ships from its fleet in 2020.
Carnival Corporation has announced the sale of four Holland America Line cruise ships to undisclosed buyers as the world’s leading cruise company sheds older tonnage amid the coronavirus pandemic.
“It’s always difficult to see any ship leave the fleet, especially those that have a long and storied history with our company,” said Stein Kruse, chief executive officer of Holland America Group and Carnival UK. “However, Holland America Line has a bright future ahead that includes recent Pinnacle-Class additions, with a third sister ship next year that will continue to maintain our overall capacity in the marketplace.”
The first ship in the R Class, the 61,849-ton Rotterdam was introduced in 1997 and has a capacity of 1,404 guests. Finally, the 62,735-ton Amsterdam joined the fleet in 2000 as the final of four R-Class ships. It has capacity for 1,380 guests and most recently operated the line’s Grand World Voyage. [links]
In her 26 years operating for Carnival, she received refurbishments and upgrades in 2006, 2010, and 2013. Fascination cruised from New York, San Juan, and Jacksonville. more
After CMV ceased operations and filed for bankruptcy in July 2020, Greek ferry operator SeaJets purchased Magellan at auction in October 2020 for $3.4 million.
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Many names and a few cruise lines later, the ship was laid up and ultimately sold for scrap in 2003. She was in service for a total of 42 years.
Fascination entered service in 1994 as the fourth member of Carnival Cruise Line’s Fantasy-class. The ship was built, like her sisters, in the Kavaerner Masa-Yards in Helsinki, Finland. She was re-christened Carnival Fascination in 2007. more