Welcome to our dedicated page for Carnival PLC news (Ticker: CUK), a resource for investors and traders seeking the latest updates and insights on Carnival PLC stock.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) is a British-American cruise operator, recognized as the largest global cruise company. Headquartered in Miami, Florida, the company boasts a diverse portfolio of ten cruise line brands, including Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival's fleet encompasses over 100 vessels, providing a range of memorable vacation experiences worldwide.
With 92 ships in service by the end of fiscal 2023, Carnival has demonstrated significant recovery and growth, especially after the pandemic. The company saw nearly 13 million guests in 2019, a figure they matched again in 2023. Among its notable achievements and current projects, Carnival continues to innovate in sustainable travel. Holland America Line, for example, began a long-term biofuel test on its flagship, Rotterdam, aiming to reduce greenhouse gas emissions significantly.
Recent news highlights the company's commitment to enriching guest experiences. Princess Cruises introduced an immersive 'Voyage to the Stars' experience in Alaska, while Holland America Line's Global Fresh Fish Program was featured on 'Top Chef'. Additionally, Seabourn's launch of its Zero @ Sea mixology program showcases unique non-alcoholic cocktails, responding to evolving guest preferences.
Carnival Corporation's future projects are also promising. The Princess Cruises fleet is set to expand its itineraries in Japan and Southeast Asia for the 2025-26 season, with Diamond Princess leading the way. Moreover, the Seabourn Odyssey will offer nostalgic final voyages through Alaska before transitioning out of the fleet.
Financially, Carnival Corporation continues to show resilience and growth, reflected in their latest fiscal reports and quarterly earnings. Investors and stakeholders can look forward to a conference call scheduled on June 25, 2024, to discuss second-quarter financial results. This proactive engagement underscores Carnival's dedication to transparency and shareholder value.
Carnival Corporation announced the exchange of $87 million in outstanding 5.75% Convertible Senior Notes due 2023 for new notes due October 2024, maintaining the same coupon rate. This transaction incurs no upfront costs for the company and results in no dilution to shareholders. The New 2024 Notes will carry the same initial conversion price, and upon closing on November 1, 2022, $96 million in 2023 Notes will remain outstanding. This extension aims to improve liquidity and financial stability amid ongoing uncertainties affecting the leisure travel industry.
Princess Cruises has announced additional inaugural voyages for its new ship, Sun Princess, set to launch in February 2024. The ship will offer a 10-day Grand Mediterranean inaugural cruise departing from Barcelona, Rome, and Athens starting on February 8. The season includes various 10-day and seven-day itineraries across popular Mediterranean destinations, with bookings opening on November 9, 2022. Featuring innovative amenities and a green approach, Sun Princess is powered by Liquefied Natural Gas (LNG), marking a significant advancement in sustainability for the cruise line.
Carnival Corporation (NYSE: CCL; NYSE: CUK) announced plans to enhance its sustainability efforts by installing air lubrication technology on at least 20% of its fleet by 2027. This expansion follows the successful operation of four systems and the current installation of five more. The technology aims to reduce hull drag by approximately 5%, leading to significant fuel savings and decreased carbon emissions. Since 2016, Carnival has invested over $350 million in energy efficiency improvements and remains committed to achieving a 20% reduction in carbon emission intensity by 2030.
On October 26, 2022, Joska, a 10-year-old service dog, celebrated her milestone of 700 cruise days aboard Holland America Line's Rotterdam. This achievement made her eligible for the Platinum Medallion, the highest accolade for past guests. The ceremony included presentations by Holland America Line President Gus Antorcha and Captain Werner Timmers, recognizing Joska's unique status. The Marinussen family, Joska's owners, have been loyal cruisers since 2013, completing nearly 60 cruises, showcasing the strong bond between service animals and travelers.
Holland America Line's Rotterdam made its inaugural call to New York City on October 26, 2022, following a transatlantic journey from Rotterdam, marking the cruise line's 150th anniversary. Manhattan Borough President Mark Levine declared this date an "honorary day" for the line. Celebrations include a special onboard event featuring an exclusive musical performance. The line also announced a partnership with The Statue of Liberty-Ellis Island Foundation to honor its rich history of transporting immigrants. The 150th Anniversary Transatlantic cruise is set to depart on April 6, 2023.
Carnival Corporation & plc announced the closing of a $2.03 billion private offering of 10.375% Senior Priority Notes due 2028. The proceeds will primarily be used to repay amounts drawn under the revolving credit facility. The notes, callable from May 1, 2025, will pay interest semi-annually, starting May 1, 2023. The offering is unregistered and available only to qualified institutional buyers. The company will also contribute 12 unencumbered vessels to support the issuance. This move aims to enhance liquidity and financial stability.
Holland America Line launched a new storytelling event called "A City on the Sea", which takes guests on an immersive journey behind the scenes of cruise ship operations. Debuting on October 15 aboard the Rotterdam, the show features live narration from the ship's cruise director and introduces various team members. It highlights essential ship functions, including engineering and laundry services, while showcasing the human stories that bring these floating cities to life. The presentation will be available fleetwide starting early 2023.
On October 22, 2022, Princess Cruises hosted a special cruise featuring original cast members of "The Love Boat" alongside the hosts of CBS's "The Real Love Boat". The event celebrated the legacy of the show and included activities such as a renewal of vows for guests. The original cast, including Jill Whelan and Bernie Kopell, shared memories and tributes to Gavin MacLeod. The new dating show aims to create romantic connections among singles aboard a luxury cruise while referencing the charm of the original series. Princess Cruises operates a fleet of 15 ships, serving over 330 global destinations.
Cunard has revealed its 2023 Insights enrichment program for Alaska cruises, featuring renowned adventurer Bear Grylls as the headline speaker. Grylls will join the Queen Elizabeth on its maiden Alaskan voyage from Vancouver on June 8, 2023. Guests will explore Glacier Bay National Park and other destinations during the 12-night cruise. The program also includes speakers such as marine archaeologist Mensun Bound and mountaineer Kenton Cool. Cunard is set to offer six additional voyages showcasing different explorers throughout the summer.
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