Saudi Arabia buys a piece of Carnival Corp.

Posted on 7 April, 2020 by Spacejunkie2

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, has acquired an 8.2% stake in Carnival Corp.

According to Carnival Corp.’s securities filing on Monday, Saudi Arabia acquired 43.51 million Carnival shares. Carnival’s closing stock price of $8.49 last Friday makes the transaction worth about $370 million.

With the news, Carnival Corp.’s share price increased 22% on Monday afternoon. The company’s stock has fallen about 80% since mid-January.

Like other cruise companies, Carnival Corp. has paused its operations since mid-March due to the Covid-19 pandemic. Cruising has been suspended through the middle of May.

Carnival Corp. last week shored up its liquidity, securing about $500 million from a stock sale and about $5.75 billion on the bond market.

Carnival Corp. borrowed at a high cost. The company is paying 11.5% interest on $4 billion in three-year senior secured notes and 5.75% interest on $1.75 billion in three-year senior convertible notes.

Next Four Freds Event to Take Place in Lisbon in Oct. 2021

Posted on 6 April, 2020 by Spacejunkie2

Fred. Olsen Cruise Lines has confirmed that it’s the third fleet get together will be Four Fred.s in Lisbon in October 2021.

It comes after the Four Fred.s in Funchal event, which was due to take place on April 4was cancelled due to the current coronavirus pandemic.

Three of Fred. Olsen’s four ocean ships – Boudicca, Black Watch and Braemar – were already scheduled to call into Lisbon, Portugal, on Oct. 22, and the fourth itinerary aboard Balmoral has been specially created to complete the line-up.

Clare Ward, Director of Product and Customer Service at Fred. Olsen Cruise Lines said: “Of course, it is disappointing that our ‘Four Fred.s in Funchal’ event was unable to go ahead. But these fleet-wide get-togethers are years in the making, and none of us could have predicted the challenging situation we have all found ourselves in today.

“The safety of our guests and crew is always our number one priority, and last month we took the decision to take our ships out of action until the end of May – which included our scheduled ‘Four Fred.s in Funchal’ festivities.

“It is hugely exciting to be able to confirm new date and destination for our fleet reunion so quickly, as I know so many of our guests were looking forward to being reunited with friends and crew members that they have met on their travels with us.

“All of us here at Fred. Olsen Cruise Lines can’t wait to welcome back our many loyal guests when we come together again in Lisbon next October and are looking forward to seeing some new faces, too.”

Coral Princess docks in Fort Lauderdale

Posted on 6 April, 2020 by Spacejunkie2

Another cruise ship with coronavirus victims onboard, including two fatalities, docked in Florida on Saturday.

Princess Cruises spokeswoman Negin Kamali said in an email that the Coral Princess was docking in Miami. The ship with 1,020 passengers and 878 crew members had been in limbo for days awaiting permission to dock.

As of Thursday, Kamali said seven passengers and five crew members had tested positive for the coronavirus.

Anyone in need of hospitalization would disembark first, the cruise line said, although it wasn’t immediately clear when that would happen. Those fit to fly were to begin leaving on Sunday, while others with symptoms of respiratory illness would remain on board until cleared by ship doctors.

A day earlier, the cruise ships Zaandam and Rotterdam were permitted to dock at Port Everglades in Fort Lauderdale, with 14 critically ill people taken immediately to hospitals. The remaining passengers were slowly being allowed to board flights for home.

Schuttevaer – 100ste aankomst van ms Rotterdam

The Coral Princess had been on a South American cruise that was due to end March 19 in Buenos Aires. Since then, the ship has encountered obstacles to docking because of various port closures and cancellation of airline flights, the cruise line said.

Passengers have self-isolated in their staterooms and meals have been delivered by room service. Crew members also have remained in their quarters when they are not working.

The Coast Guard said in a news release Saturday it has been involved with processing about 120 vessels carrying some 250,000 passengers over the past three weeks because of the coronavirus pandemic.

The Coast Guard statement said as of Saturday there are 114 cruise ships carrying 93,000 crew members either in or near U.S. ports and waters. That includes 73 cruise ships with 52,000 crew members moored or anchored in U.S. ports and anchorages.

The cruise line industry announced a voluntary suspension of most ship operations from U.S. ports on March 13. The next day, the Centers for Disease Control and Prevention announced a “no sail” order to all cruise ships that had not suspended operations.

“We commend the decision by the cruise industry to cease operations. However, pausing a global tourist industry does not happen instantaneously or easily,” said Vice Admiral Dan Abel, Coast Guard deputy commandant for operations. “The federal, state, local and industry cooperation to achieve this feat truly represents the whole-of-nation approach directed by the president and is essential to fighting the spread of this virus and working to minimize the loss of life.”

Princess Cruises is a brand of Miami-based Carnival Corp., the world’s largest cruise company.