Photos: Fincantieri
I
n June, Carnival Corporation & plc
economical options. A cruise vacation is an
Chairman and CEO Micky Arison in-
attractive alternative for those seeking the
sisted that the company’s North American
most value for their vacation dollar,” Ari-
and European brands continue to perform
son said, while admitting that the impact
well in the current difficult economic envi-
of skyrocketing fuel prices is hurting the
ronment. The corporation is still showing
operating results.
strong revenue growth supported by solid cost controls – even if higher fuel prices
THE WAITING GAME
hurt the company to the tune of $158 mil-
Arison also stated in a Lloyd’s List interview
lion during the second quarter alone.
that the company recognises the fact that
As the American economy has taken
it is unable to build new ships for its US
one hit after another, Carnival has looked
brands at present dollar-valued costs and
to the Old Continent for relief. The com-
its own internal return projections.
pany strategy calls for a speedy expan-
Still, he did not want to describe the
sion into the European marketplace, as
newbuilding plans as being “on hold”.
evidenced in the spring by AIDA Cruises’
According to Arison, Carnival is waiting
2,050-passenger AIDAbella in Germany
patiently in this regard and can carry on
and P&O Cruises’ 3,076-passenger Ven-
“indefinitely” in the US with its current
tura in the UK.
fleet.
The CEO seems to have a good rea-
SUMMER BLOCKBUSTERS
son for his confidence, too: Carnival re-
In the summer, there were even bigger
cently announced a $ 250 million renova-
launches. Holland America Line’s 2,104-
tion programme on its eight-ship Fantasy
passenger Eurodam was successfully deliv-
class series of cruiseships. Arison believes
ered in June, and was named by Her Roy-
that the refurbishment programme is a
al Majesty Queen Beatrix of Holland on
perfect example of how his company can
July 1. But even this Royal occasion was
keep its brand fresh and competitive.
only a warm-up act: the pride and joy of
the Carnival Cruise Lines, the 3,006-pas-
DREAM COMES TRUE
senger Carnival Splendor, was delivered
Carnival’s last newbuilding order for its Fun
on June 30.
Ships brand was announced at the end of
Both of these vessels operated Euro-
2005: the 130,000 gt behemoths that go
pean itineraries during summer – which
by the names Carnival Dream and Carni-
is proving to be a popular way for North
val Magic.
American guests to visit Europe while pay-
Reportedly priced around $740m, the
ing in U.S. dollars to minimise the impact
3,652-passenger Carnival Dream is sched-
of unfavourable currency exchange.
uled to enter service in October 2009. The
Carnival reported in the spring that
occupancy levels for advance bookings for
sister vessel is expected to make its debut
in June 2011.
the next twelve months are in line with
Carnival Cruise Lines has announced
the prior year, with ticket prices for these
that Carnival Dream will be based at Port
bookings at higher levels.
Canaveral, Florida, beginning in fall 2009.
CEO Arison pointed out that despite
the troubled economy, the corporation’s
booking trends continue to be solid.
Details on the ship’s itinerary have not
been provid