Carnival to build new Barcelona cruise terminal

Posted on 30 September, 2013 by Spacejunkie2

Carnival to build new Barcelona cruise terminal

By Tom Stieghorst

Carnival Corp. and the port of Barcelona reached an agreement on the construction of a new $27 million cruise terminal that will handle post-Panamax sized ships.

The terminal will be about 107,000 square feet, large enough to accommodate 4,500 people. It is expected to open in 2016.

Carnival already operates a terminal at the port, which will be expanded by about 14,000 square feet. Both terminals are on the Adossat Wharf.

Carnival will invest the $27 million and run the terminal as a concession. The port will invest about $2.7 million on roads and other infrastructure and about $2 million on signage.

Barcelona is the fourth-busiest cruise port in the world, with an estimated passenger volume of 2.6 million passengers this year.

Post-Panamax ships

Post-Panamax or over-Panamax denote ships larger than Panamax that do not fit in the canal, such as supertankers and the largest modern container ships. The “largest oil tanker in the world”—whichever ship held the title at the time—has not been able to transit the Panama Canal at least since the Idemitsu Maru was launched in the 1960s; it carried about 150,000 deadweight tons. All US Navy aircraft carriers since USS Midway have been in the post-Panamax class

Cruise lines working with authorities over Venice lagoon debate

Posted on 26 September, 2013 by Spacejunkie2

Cruise lines working with authorities over Venice lagoon debate

By Hollie-Rae Merrick

Cruise lines are working with Italian authorities to look at the option of moving the port in Venice to another part of the canal after concerns over the ships’ impact on the city.

Speaking at a Clia press conference earlier today, Pierfrancesco Vago, executive chairman of MSC Cruises, said the industry was working with officials to find a solution and was looking at different canals to establish which would be the best alternative.

His comments came just days after protesters delayed a procession of cruise ships for over an hour by leaping into Venice’s Guidecca canal. The demonstrators believe the cruise ships are threatening the city’s foundations and want the port moved to an island away from the city.

Vago said the issue was “deeply emotional” for some Venetians, however the majority support the cruise lines calling at the destination.

He said there was no environmental impact on Venice by the vessels as cruise lines had already agreed to have a low sulphur admission on entering the city.

Vago said lines and authorities were looking at the ecosystems in the waters surrounding Venice to establish whether there was an alternative and appropriate route.

He added: “We (the cruise industry) are important to the city of Venice, everybody understands that.

“One shop out of six lives because of the cruise industry, 33% of the hotel industry lives because of the cruise industry. It is an emotional impact.”

Howard Frank, Carnival Corporation’s vice chairman and chief operating officer said he agreed that the issue was not a environmental one.

He said the industry needed to do a better job in getting the message out about how environmentally friendly cruise ships had become.

Write downs a factor in lower Q3 earnings for Carnival Corp.

Posted on 25 September, 2013 by Spacejunkie2

Write downs a factor in lower Q3 earnings for Carnival Corp.

By Tom Stieghorst

Carnival Corp. earned $934 million in the key third quarter, down 28% from the $1.3 billion earned in the same quarter last year.

Revenue of $4.7 billion was in line with last year, Carnival said.

Carnival said it had impairment charges of $203 million to write down the value of two older Costa ships, its Ibero Cruises trademark and other items. Those were partly offset by a gain on fuel derivative contracts.

Like other cruise lines, Carnival earns the bulk of its annual profits in the third quarter, which at Carnival includes the months of June, July and August.

For all of 2013, Carnival said it expects to earn $1.2 billion.

Carnival also reported income on a non-GAAP accounting basis, a method favored by some investors. By that measure, it earned $1.1 billion, down from $1.2 billion a year ago.