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Saudis buy stake in Carnival

Carnival Corp's shares jumped last night after Saudi Arabia’s Public Investment Fund confirmed in a filing that it had acquired an 8.2% stake in the cruise ship operator. Carnival’s shares surged 18% to $10.04 Monday on the New York Stock Exchange (NYSE) after the Saudis [Read more...]

2020-04-07T10:14:59+00:00 April 7th, 2020|Finance|

Carnival outlines the future

In a filing to the US Securities and Exchange Commission (SEC) late last week, Carnival Corp painted a bleak picture of its operations going forward in the light of the COVID-19 pandemic. In an update, the company explained that some of the ships will go [Read more...]

2020-04-06T09:29:31+00:00 April 6th, 2020|Finance|

USCG takes tough stance on cruise ships

In a letter issued last week, the US Coast Guard (USCG)7th District ordered cruise ships to prepare to treat any sick passengers and crew on board ship, while being sequestered ‘indefinitely’ offshore during the coronavirus pandemic. The 7th District covers Florida, Georgia, South Carolina and [Read more...]

2020-04-02T09:15:34+00:00 April 2nd, 2020|Safety|

Carnival Corp to raise cash

Carnival Corp has instigated private offerings of $3 bill aggregate principal amount of first-priority senior secured notes, due 2023  and $1.75 bill total principal amount of senior convertible notes, due the same year. Carnival said that intends to grant the initial purchasers of the convertible notes an option [Read more...]

2020-04-01T11:37:30+00:00 April 1st, 2020|Finance|

Cruise ships stopped to mid-May or longer

Over the past few days, several cruise ship operators have announced extensions to their announced shutdowns in the wake of COVID-19. For example, Carnival Cruise Line (CCL) announced yesterday that it would not be resuming operations until mid-May. Other Carnival Corp brands, including Cunard Line, Holland America Line, and [Read more...]

2020-03-31T09:25:45+00:00 March 31st, 2020|Marketing|

HAL’s cruise ships to transit Panama Canal

Panama's Ministry of Health has given Holland America Line (HAL) permission for the ’Zaandam’ and ‘Rotterdam’ to transit the Panama Canal. Last Friday, it was reported that four elderly passengers on the ‘Zaandam’ had died of coronavirus; 138 more reported flu-like symptoms associated with the virus. Of several passengers who were [Read more...]

2020-03-29T11:18:30+00:00 March 29th, 2020|Safety|