Costa Prepares Gradual Restart Plan

Costa Smeralda

Following the authorization to cruise by the Italian Government, Costa Crociere prepares to gradually restart its operations in light of the new protocols that will be officialised soon, the company said.

Michael Thamm, CEO of Costa Group and Carnival Asia said: “We are extremely excited that we will be able to cruise again soon and we want to thank the Italian Government and all the authorities for their constant availability and support.

“The cruise industry and Costa specifically, as the only Italian cruise company, create significant value to the economy and to the destinations we visit. The gradual restart of our operations will give relief to the local economies in port communities and to the whole ecosystem of almost 5,000 suppliers and business partners, and over 7,500 travel agents, in Italy, who have been suffering from the pause of our activities.

“The resumption of our operations in this phase is also a great responsibility towards our guests, our crew members and the residents of the communities we visit. In the next days, we will be working closely with national and local authorities, ports and terminals, RINA and internally onboard our ships, for the full implementation of the protocols issued by the Italian Government so we can all together guarantee a smooth, well organized and safe restart of our cruises, both onboard and ashore. We look forward to announcing shortly the full program of our itineraries so that thousands of loyal Costa Guests can have the opportunity to sail again with us for the holiday they missed so much.”

Costa Readying Two Ships to Start Mediterranean Cruising

Costa Smeralda

Costa Crociere may be readying two ships to start cruising in the Mediterranean as soon as August, according to crew aboard the line’s ships who attended a recent town hall-style meeting.

The ships that would be put into operation will reportedly be the newest vessels in the Italian brand’s fleet, the 2014-built Diadema, and the 2019-built Smeralda. 

In a letter sent to the crew, Costa said it has been working with various institutions to restart operations with a limited number of vessels, as soon as August. However, any restart would be linked to a certain number of conditions, according to the company.

Costa Diadema

The new challenge is for Costa to crew its ships, with Costa noting that many countries are restricting the movement of the crew, presenting challenges in getting crew to the ships.

Thus, Costa is asking that crew near the end of their contracts consider extending their contracts aboard.

“We official inform all crew members under a valid contract that they will be requested to fulfil their contract commitment, continuing the regular schedule of operation,” a company letter read.

Carnival Corporation Announces Offering of Common Stock

Carnival Magic

Carnival Corporation today announced that it has commenced an underwritten public offering of $1.25 billion of shares of common stock of the Corporation, according to a statement.

The Corporation intends to grant the underwriters an option to purchase up to $187.5 million of additional shares. The Corporation expects to use the net proceeds from the offering for general corporate purposes.

The Corporation also announced by a separate press release that it has commenced private offerings to eligible purchasers of $3 billion aggregate principal amount of first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of senior convertible notes due 2023 (or up to $2.0125 billion aggregate principal amount if the initial purchasers exercise in full their option to purchase additional convertible notes). Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy the senior secured notes or the convertible notes. None of the closings of the offerings of shares of common stock, senior secured notes or convertible notes is conditioned upon the closing of any of the other offerings or vice versa.