Carnival Corporation has sold two ships this year, as the Seabourn Sojourn will be transferred to Mitsui Ocean Cruises next year, and the Costa Fortuna will sail for Margaritaville in late 2026.
“Over time, since ships get older, we will sell them to other parties,” said David Bernstein, CFO, speaking on the company’s second quarter earnings call.
“We do not feel that those parties come back to compete against us because they are generally in different marketplaces with different brands,” he continued.
Neither Bernstein nor Josh Weinstein, CEO, would comment on the sales prices of either ship, although Weinstein said it was “nicely over book value.”
“People came to us looking for ships and gave us prices that we thought were in the best long-term interest of the company,” Weinstein said.
He also explained that the Costa Fortuna’s departure from the fleet does not impact Costa’s core program in Europe, as the Serena will take its place in the market.
Carnival Corporation today announced an order for two new ships for AIDA Cruises, a new class of mid-sized vessels.
The agreement with Italian shipbuilder Fincantieri provides for the design, engineering, and construction of these multi-fuel-capable ships, which will be delivered in the first quarter of the fiscal years 2030 and 2032, respectively.
“With approximately 2,100 cabins each, these remarkable new ships give our guests a completely new class of ship which slot in perfectly between our 1,600 cabin Hyperion Class vessels and our more than 2,600 cabin Helios Class vessels,” said Felix Eichhorn, President of AIDA Cruises. “Our next generation of ships will delight our guests with amazing new features and experiences that we will reveal over time. Its innovative technology with multi-fuel propulsion systems, including LNG, will future-proof our operations into the coming decades.”
Eichorn added that once the second ship is delivered, AIDA will have a total of 13 ships in its fleet, further expanding its leadership position in the German cruise market.
“The introduction of these next-generation ships, when combined with the AIDA Evolution program modernizing much of the existing fleet’s décor, features and technologies, will drive even more demand for our AIDA brand, which is synonymous with cruising in Germany,” said Josh Weinstein, chief executive officer of Carnival Corporation.
According to Weinstein, with today’s order, Carnival Corporation’s newbuild pipeline includes eight new ships scheduled to enter service between now and 2033, including Star Princess this year and one each from 2027 to 2033.
“We’re maintaining our disciplined approach to growth and strategically directing new capacity to the highest-performing brands in our world-class portfolio like AIDA Cruises and its sister brand Carnival Cruise Line, which now account for seven of our eight ships on order. This growth plan will maximize our returns and allow us to use our strong free cash flow to continue lowering our debt balance and transferring value from debt holders back to shareholders,” he said.
“We are honored that our long-standing partner Carnival Corporation has selected Fincantieri to build ships for AIDA Cruises for the first time in our history. This milestone confirms our ability to serve the entire Carnival Corporation portfolio while ensuring long-term visibility for our shipyards. These new ships will embody the most advanced technologies for sustainability and efficiency, further strengthening Fincantieri’s and Carnival Corporation’s roles as leaders in cruise industry innovation,” said Pierroberto Folgiero, CEO of Fincantieri.
2024 was a strong year for the drydock and secondhand ship market, which led to a number of ships debuting for new operators.
These are some of the key conversion jobs that took place during the year:
Celestyal Discovery Former: AIDAaura Capacity: 1,270 guests Year built: 2003 Previous operator: AIDA Cruises New operator: Celestyal Cruises Debut: March 2024
After being sold by Carnival Corporation in late 2023, the former AIDAaura underwent a conversion project before debuting for Celestyal Cruises.
Previously operated by AIDA Cruises, the 2003-built vessel saw a complete transformation for its new market.
Carnival Firenze Former: Costa Firenze Capacity: 4,232 guests Year built: 2020 Previous operator: Costa Cruises New operator: Carnival Cruise Line Debut: April 2024
After being transferred to Carnival Cruise Line, the former Costa Firenze underwent a major refit at the Navantia shipyard in Cádiz in early 2024. In addition to receiving Carnival’s branding and livery, the 4,232-guest vessel was updated with Carnival’s public areas, with various spaces converted into the company’s trademark venues, such as the Fahrenheit 555 Steakhouse and the Limelight Lounge.
Margaritaville at Sea Islander Former: Costa Atlantica Capacity: 2,100 guests Year built: 2000 Previous operator: Adora Cruises (never debuted) New operator: Margaritaville at Sea Debut: June 2024
After a long refurbishment at the Harland & Wolff shipyard in Northern Ireland, the Margaritaville at Sea Islander debuted for its new operator in June 2024.
Villa Vie Odyssey Former: Braemar Capacity: 977 guests Year built: 1993 Previous operator: Fred. Olsen Cruise Lines New operator: Villa Vie Residences Debut: September 2024
The former Braemar of Fred. Olsen Cruise Lines was turned into Villa Vie Residences’ first residential ship in 2024. After a refit at the Harland & Wolff Shipyard in Belfast, the ship emerged as the Odyssey in September, welcoming guests for a continual world cruise.
Aroya Former: World Dream Capacity: 3,400 guests Year built: 2017 Previous operator: Dream Cruises New operator: Aroya Cruises Debut: December 2024
The Aroya entered service in December as the first cruise ship dedicated to the national market in Saudi Arabia.. According to Aroya Cruises, several venues onboard the ship were essentially rebuilt during a long conversion that included shipyard visits in the Netherlands and Germany.
Others:
Mitsui Ocean Fuji (former Seabourn Odyssey) – now in service for Mitsui Ocean Fuji
Celestyal Journey (former Pacific Aria) – now in service for Celestyal Cruises
Marella Voyager (former Mein Schiff Herz) – now in service for Marella Cruises
Ambition (former AIDAmira) – now in service for Ambassador Cruise Line
Resorts World One (former Explorer Dream) – now in service for Resorts World Cruises
Carnival Venezia (former Costa Venezia) – now in service for Carnival Cruise Line
Exploris One (former Silver Explorer) – now in service for Exploris Expeditions & Cruises
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