Tag Archives: Carnival Corporation

Carnival Corp. earns $1.21 billion in its third quarter

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Carnival Corp. said net income in its third quarter fell 2% from the same period a year earlier, from $1.24 billion to $1.21 billion. Revenue stayed roughly unchanged at $4.9 billion.

The quarter includes an unrealized loss on fuel derivatives of $137 million. On an adjusted basis, Carnival said it earned $1.4 billion, the highest quarterly amount in its history.

Carnival said net revenue yields, a measure of ticket price and occupancy, improved 5% from the same quarter in 2014.

“Clearly our ongoing investments in the guest experience, combined with our global marketing and public relations efforts along with our initiatives to leverage our scale, are having a positive impact,” Carnival Corp. CEO Arnold Donald said.

Carnival negotiating return to Mobile

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Carnival Cruise Line confirmed that it is in final negotiations for a resumption of cruises from Mobile, Alabama.

In a statement, Carnival said officials met with Mobile Mayor Sandy Stimpson on Sept. 2 in Miami.

“We are in the final stages of contract negotiations with the City of Mobile for future cruises from the port,” the statement said. “We expect this process to be concluded by the end of the month.”

Carnival operated at Mobile from 2004 through 2011, occupying a $28 million terminal that has gone largely unused since it departed four years ago.

At the time, Carnival cited prices that were lower than achieved at other ports for the pullout. Carnival also has Gulf Coast cruises that depart from Galveston, New Orleans and Tampa.

No other cruise line stepped in to take Carnival’s place in Mobile after it left.

In a press conference, Stimpson said Mobile is not negotiating with any other cruise operators.

Amber Cove, Carnival’s new port in the D.R., nears opening date

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Amber Cove is scheduled to welcome its first ship on Oct. 6.

PUERTO PLATA, Dominican Republic — The new Amber Cove port on the north coast of the Dominican Republic is rapidly coming together a little more than a month before the first ship is scheduled to arrive on Oct. 6.

The port, being developed by Carnival Corp. and a local partner, already has a 1,280-foot pier, a bus and taxi staging area, cabanas and the finished shells of bars, restaurants and shops.

Landscaping is being planted and the interiors of the structures are ready for build-out.

About 350,000 guests from eight Carnival Corp. brands are expected to use the facility in 2016. About half will come from Carnival Cruise Line, which will use Amber Cove year-round.

The 25-acre project cost $85 million to develop. About half of the space is devoted to a transportation hub. Six acres along the shore have been reclaimed from the bay. There is a large pool area, but no beach on the port property. Carnival will offer multiple beach excursions.

A total of 44 tours have been developed with a wide range of styles. Amilcar Cascais, vice president for tour operations at Carnival, said he expects tour participation of upwards of 60% initially because guests will be curious about the new destination. Participation is typically in the 30% to 50% range.

The pier, with a channel dredged to 36 feet, is capable of handling two of the largest ships in the Carnival fleet at once, although initially only one ship at a time will dock there.

Amber Cove is named for the amber mines in the interior near the port. There will be an amber wall art installation that will feature a caiman embedded in it.

The northern coast of the Dominican Republic last received regular cruise calls 30 years ago, and the 300,000 residents of the area are excited to see the project nearing completion, said Julio Almonte, vice minister of tourism for the Dominican Republic. He said the country’s president visited the site two months ago to show support.

“The future of Puerto Plata is this project,” Almonte said.