Tag Archives: Carnival Corporation

Carnival Releases 2016 Sustainability Report

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Sustainability Report

Carnival Corporation has released its 2016 sustainability report as part of the launch of its new dedicated sustainability website.

The report and complementary site detail the company’s sustainability efforts and the progress made in 2016 toward its 2020 sustainability performance goals. The report was prepared in accordance with the Global Reporting Initiative (GRI) G4 “core” level, and a full copy can be downloaded from Carnival Corporation’s new site, according to a prepared statement.

“We take our commitment to sustainability and the environment very seriously and take proactive measures to ensure that sustainability is ingrained in the core of our business practices,” said Bill Burke, chief maritime officer for Carnival Corporation, whose industry-leading cruise lines sail to more than 760 ports around the world. “Our top priority is to consistently exceed our guests’ expectations for a great cruise vacation – and that includes providing an exceptionally safe, comfortable and enjoyable environment for our guests and crew members, while at the same time maintaining our deep commitment to protecting the oceans, seas and destinations we visit.”

Added Burke: “We have a great team of employees, most of whom work and live at sea, and we all understand a healthy environment is not just an operating necessity, but it is also the right thing to do. We want our guests to be confident that when they book a cruise vacation with one of our brands, they are doing so with a responsible global corporate citizen.”

Among the highlights, according to Carnival:

Being ahead of schedule in achieving a nearly 25 percent reduction in CO2e (equivalent carbon dioxide) relative to the 2005 baseline.

Pioneering the use of LNG (liquefied natural gas), the world’s cleanest burning fossil fuel, and introducing the first cruise ship ever fueled with LNG from trucks while in port.

Continuing to make progress in installing Exhaust Gas Cleaning Systems, which significantly improve air emissions by reducing sulfur compounds and particulate matter from engine exhaust – by the end of 2016, 59 percent of the fleet was equipped with the systems (and a larger percentage is equipped with the systems as of today).

40 percent of the fleet was equipped with cold ironing capabilities by the end of 2016, which allows ships to use an alternative power source while in port.

Expanding its partnership with Wärtsilä to include a long-term diesel engine maintenance agreement with an energy-efficiency component.

Continuing installation of Exhaust Gas Cleaning Systems (EGCS), which significantly reduce sulfur compounds and particulate matter from ship engine exhaust.

Making a significant commitment to its employees in terms of high-quality training by establishing the new Arison Maritime Center, home of the Center for Simulator Maritime Training Academy, also known as the CSMART Academy.

Opening the second of three planned state-of-the-art Fleet Operations Centers (FOC) in Seattle with the most advanced ship-to-shore communications technologies available to assist captains, chief engineers and deck and engineering officers with digital support, control and planning of all nautical and technical operations.

 

Carnival Corp ups full year revenue forecast on back of higher prices

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Carnival Corporation’s cumulative bookings for the next three quarters are at higher prices than last year and concentrated in the core cruise markets in North America and Europe.

Adjusted net profits for the last quarter edged up by $8 million year-on-year to $370 million as revenues grew from $3.7 billion to $3.9 billion on the back of a 4% increase in capacity.

The figures for the three months to May 31 were boosted by a 5% improvement in overall cruise ticket prices for the parent company of brands such as P&O Cruises, Cunard and Princess Cruises.

The improved rates affirmed efforts to increase demand “by building positive word of mouth through the delivery of exceptional guest experiences as well as our innovative marketing and public relations programmes,” said president and chief executive Arnold Donald.

The company expects full year 2017 net revenue yields in constant currency to be up approximately 3.5%, better than guidance given in March of up by around 3%.

Chief finance officer David Bernstein said: “Since the end of February, booking volumes for the next three quarters have been running in line with the prior year at nicely higher prices.

“At this point in time, cumulative bookings for the next three quarters are ahead of the prior year, again, at nicely higher prices.”

Looking forward, Donald said: “We are realising sustained strength in booking trends across all core products.

“We are delivering on our strategy to grow demand in excess of measured capacity growth while leveraging our industry-leading scale resulting in increased return on invested capital.”

The world’s largest cruise conglomerate saw the delivery of Princess Cruises’ Majestic Princess, the first ship tailored for Chinese passengers, as well as the addition of AIDAperla to German brand, AIDA Cruises.

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AIDAperla.

Two additional Princess Cruises ships, Caribbean Princess and Royal Princess, were fitted with the technical requirements to switch them early next year to the Ocean Platform featuring Ocean Medallion, the interactive technology for passengers which will debut on Regal Princess in November.

Donald told analysts in a conference call: “We have and we’ll continue to create carefully engineered high-quality destination experiences that are uniquely tailored to our guest references from our private islands like Princess Cays and Half Moon Cay to the planned expansion of our cruise terminal in Barcelona to our most recently completed port destination Amber Cove, in the Dominican Republic.

“We’re providing exceptional guest experiences that enable our brands to capture a price premium. We have many more innovations planned in port development that we expect to rollout in the coming years.”

He identified “new destination opportunities” in Cuba, the Bahamas and China.

The company expects to benefit from growing populations, increasing wealth and developing countries in addition to increased spending by consumers on “experience versus products”, all of which are contributing to 4% annual growth expected in travel globally.

Carnival finalizes Grand Bahama cruise destination

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Carnival finalizes Grand Bahama cruise destination

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Carnival Cruise Line signed a final agreement to build a cruise destination on Grand Bahama Island that it said will eventually host 1 million cruise passengers a year.

The long-anticipated agreement with the government of the Bahamas will give Carnival a major new destination for a dozen or more Carnival ships that homeport in Florida and various cities on the East Coast of the U.S.

Carnival will finance and operate the as-yet-unnamed destination on a secluded beach area on the eastern end of the island. Grand Bahamas’ major city is Freeport.

Other Carnival Corp. brands such as Princess Cruises and Holland America Line have long had private islands in the Bahamas, as have competitors such as Norwegian Cruise Line and Royal Caribbean International. MSC Cruises is building one near Bimini that is expected to open in 2018.

Carnival did not give a timetable for the completion of its project.

It said the new resort will be “the largest purpose-built cruise facility ever constructed in the Bahamas.” Features will include a 1-mile stretch of beach; food, beverage and shopping outlets; a wide array of water-based amenities; and other recreational facilities. The port will feature a pier capable of accommodating two of Carnival’s largest ships simultaneously.

Carnival did not put a specific price tag on the development but said it would be a “multimillion-dollar project” that will provide significant economic and employment benefits for the Bahamas.

MSC has said it plans to spend about $200 million to develop its Bimini destination.

At a signing ceremony, Carnival Corp. president and CEO Arnold Donald said, “When Ted Arison, the founder of Carnival and the modern-day cruise industry, embarked on his first cruise, it was to the Bahamas. From that day until now, the Bahamas continues to be one of the most strategic and important destinations for our company.”

Some Bahamians have expressed concerns that the new destination is remote from Freeport and won’t provide many jobs or opportunities for vendors.

Bahamian prime minister Perry Christie said the Carnival shore attraction “will create a new destination with a distinctive flavor and characteristics that offer the broadest Bahamian entrepreneurial and employment opportunities, representing another phase in the development of Grand Bahama as a viable tourist center.”

The project is subject to a detailed public discussion process, environmental studies and permitting.