First Carnival China Newbuild Cruise Ship Floats Out

Posted on 20 December, 2021 by Spacejunkie2

The first Carnival China Cruise Shipping newbuild was floated out last week at Shanghai Waigaoqiao Shipbuilding Co., Ltd., a subsidiary of China State Shipbuilding Corporation (CSSC).

“We at Carnival are committed to supporting to CSSC and our joint venture CSSC Carnival which is the foundation of Carnival’s China strategy,” said Arnold Donald, CEO of Carnival Corporation, in a video address celebrating the float out of hull 1508.

“We are committed to building CSSC Carnival into a successful and fully functioning Chinese-flagged cruise company,” Donald continued.

The ship is one of two on order for Carnival’s joint venture brand with CSSC, where Carnival is a minority partner. The brand will serve the domestic Chinese market and has already taken ownership of Costa Atlantica and Costa Mediterranea.

The new ship touched water for the first time in Shanghai, and will now move to an interior fit-out stage before her delivery in 2023. A sister ship will follow in 2024; there is an option for four additional ships on the contract.

The new builds are on the Carnival Vista-class platform, with CSSC working in partnership with Fincantieri.

Posted on 25 April, 2021 by Spacejunkie2

Royal Caribbean Group Chairman and CEO Richard Fain saw total compensation of just over $12 million for the fiscal year 2020, according to a company SEC filing.

Fain saw his base salary cut by nearly 50 per cent, but made up for it with $11 million in stock awards.

Other company executives also had a good year, with CFO Jason Liberty seeing total compensation of $5.6 million, up from 2019.

Royal Caribbean International President and CEO Michael Bayley earned $7.4 million, also up from 2019.

The SEC filing noted that executives did forgo portions of their base salaries

The company said it wants to establish a mix of compensation components, including fixed and variable pay and short- and long-term incentives, that encourages “focus on both the short- and long-term interests of the company and its shareholders.”

Of note, Carnival Corporation CEO Arnold Donald took home $11 million and Norwegian Cruise Line Holdings CEO Frank Del Rio saw compensation of $36.4 million.

Royal Caribbean Group Compensation Table:

Name and Principal Position	Fiscal Year	Salary ($)	Stock Awards ($)	One-Time Stock Awards	Non-Equity Incentive Plan Compensation	Change in Pension Value and NQDC Earnings	All Other Compensation	Total ($)
Richard D. Fain Chairman/CEO	2020	$645,000	$11,171,146		$3,042,000*	$154,879	$112,478	$12,083,503*
2019	$1,276,923	$8,699,024		$4,006,080	$189,347	$187,545	$14,358,919
2018	$1,100,000	$7,664,567		$3,500,000		$157,949	$12,422,715
2017	$1,100,000	$7,661,433		$4,327,400	$99,493	$155,087	$13,343,413
2016	$1,092,308	$6,441,770		$2,740,222		$131,384	$10,405,684
2015	$1,038,462	$5,803,644		$2,426,667		$119,796	$9,388,569
2014	$1,000,000	$3,673,186	$4,923,759	$2,246,222	$56,611	$114,100	$12,013,878
2013	$1,000,000	$3,371,587		$2,083,629	$250,089	$127,858	$6,833,163

Jason T. Liberty CFO	2020	$818,798	$3,228,563		$1,411,938	$89,503	$100,429	$5,649,231
2019	$788,462	$2,621,510		$1,731,002	$91,472	$113,674	$5,424,004
2018	$788,462	$2,136,947		$1,685,523		$140,932	$4,751,864
2017	$692,308	$1,700,547	$2,792,203	$1,521,533	$57,849	$125,806	$6,890,246
2016	$592,308	$1,127,080		$798,217	$21,980	$88,478	$2,628,062
2015	$511,538	$765,923		$655.175		$66,801	$1,999,437
2014	$444,231	$519,248	$716.111	$508.197	$6,393	$79,563	$2,273,743
2013	$380,019	$373,728		$364.324	$25,741	$77,676	$1,221,488

Michael W. Bayley President/CEO RCI	2020	$866,346	$4,943,887		$1,435,000	$74,355	$116,244	$7,435,832
2019	$941,923	$4,061,696		$1,803,361	$110,1190	$140,711	$7,057,881
2018	$870,769	$3,086,742		$1,577,143		$187,432	$5,722,086
2017	$792,308	$2,834,275	$2,792,203	$1,519,461	$121,223	$135,123	$8,194,593
2016	$696,154	$1,784,470		$938,428	$11,630	$107,334	$3,866,773
2015	$675,000	$1,436,142		$986,229		$115,934	$3,213,305
2014	$598,846	$944,096	$1,909,604	$861,000	$15,897	$79,207	$4,408,650
2013	$575,00	$770,630		$658,891	$67,786	$101,625	$2,173,932

Lisa Lutoff-Perlo President/CEO Celebrity	2020	$710,558	$2,719,084		$1,092,650	$130,177	$96,854	$4,749,323
2019	$770,769	$2,278,490		$1,098,258	$140,211	$142,114	$4,429,842
2018	$688,462	$1,786,762		$1,228,438		$136,520	$3,840,202
2017	$596,154	$1,558,865	$1,861,505	$1,072,083	$64,609	$123,701	$5,276,917
2016	$546,154	$1,033,167		$639,532		$92,045	$2,310,898

Harri Kulovaara EVP Maritime	2020	$803,846	$1,483,167		$830,250	$81,764	$107,746	$3,606,773
2019	$761,923	$1,139,243		$870,446	$98,382	$102,335	$3,422,329
2018	$692,308	$893,480	$924,236	$764,728		$109,262	$3,844,014

*Declined Non-Equity Incentive Plan Compensation of $3,042,000

Carnival CEO Donald ‘Very Disappointed’ in CDC Guidance

Posted on 7 April, 2021 by Spacejunkie2

Carnival Corporation CEO Arnold Donald said he was “very disappointed” in the CDC’s guidance released last week on the company’s business update call on Tuesday morning.

Donald mentioned the company has 30 ships in U.S. waters that have achieved “green status” per CDC guidelines, and that the company was continuing to work with the agency and current administration to find practical approaches to resume cruising in a way that is in the best interest of public health.

He said he aimed to have all nine Carnival Corp. brands sailing this summer and that ships will come back on a staggered basis with occupancy rates ramping up over time.

Donald noted an acceleration of booking trends globally, with an AIDA ship sailing the Canaries and restarts set in the UK and Italy shortly.

Donald was also quick to note 59 of 90 of the company’s ships were outside of the Conditional Sail Order, and restarts were being worked on in Asia and Australia.