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Carnival plc shares fall sharply after Credit Suisse highlights industry headwinds – report

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 15 September 2017 15 September 2017

Shares in Carnival plc, the UK based holding company in the Carnival Corporation & plc group fell sharply on Friday morning after Credit Suisse reportedly had downgraded the company to ”neutral” from “outperform” and lowered target price.

In early afternoon London time, Carnival plc traded 4.3% lower at 4,888p (prices on the London market are given in pence, hence this translates to £48.88) after hitting a session’s low at 4,824 and a high at 4,997. The FTSE 100 index of leading shares had fallen 1.17% at the same time.

Credit Suisse trimmed the target price for the shares to 5,300p from 5,910p as it knocked the stock off its previous 'outperform' rating, sees threats to demand in the 2018 financial year in each of the top three cruise markets, Digitaloook.com business news website reported .

“In the Caribbean, which represents 39% of global passengers, Hurricane Irma has laid waste to potentially 24% of the region by passenger volume and could be facing a repeat of 2005 when earnings per share were downgraded 10%,” the report said.

“For the Mediterranean, representing 14% of passengers, the Swiss bank pointed to the recent terror attack in Barcelona, which is the number-one cruise port in a region where in the East there has been a 60% decline in volumes seen since 2011 due to issues in Athens and Turkey,” Digitallook continued..

“China, which represents 12% of passengers, the Korea travel ban is still in place and the industry is planning to trim capacity by 5% in 2018,” the report said, adding that in the face of these potential issues, Carnival's 2017-22 estimated capacity growth is 6.1%, the absolute level of capacity growth in 2018-2021 is double that of the past five years.

Carnival UK to split Cunard Line and P&O Cruises’ sales teams - report

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 15 September 2017 15 September 2017

Cunard Line and P&O Cruises will return to running separate sales organisations following a short period operating under a multi-brand Partnership Team umbrella, Travel Weekly reports in a newsletter.

The combined Cunard and P&O Cruises sales structure is to be split into two dedicated teams by next summer. Both companies are parts of Carnival Corporation & plc, which also owns Carnival UK that operates the group’s brands oinbritain.

A new Cunard UK sales director is to be recruited and the overall headcount will be “significantly” increased, according to parent company Carnival UK without detailing the extra numbers, Travel Weekly said, citing a letter Carnival UK had sent to the travel trade.

All roles within the existing organisation will assume responsibility for P&O Cruises with the exclusion of those dedicated to Cunard, the company said.

The current sales organisation will remain under the leadership of Carnival UK vice president of sales Alex White until the structural changes are finalised by the middle of 2018. White will then assume the role of vice president of sales and distribution for P&O Cruises and will continue to report the brand’s senior vice president Paul Ludlow.

A new sales organisation is being established for Cunard under the leadership of David Rousham, currently the line’s international development vice president.

Rousham will assume the expanded role of vice president of UK sales and international development for Cunard, and will continue to report senior vice president Simon Palethorpe.

Recruitment will begin immediately for a new Cunard UK sales director who will establish the team and manage the transition.

White told agents in a letter: “Since establishing our new multi-brand sales team in 2016, together we have enjoyed two record sales years for our brands.

“P&O Cruises will welcome the largest cruise ship ever built for the UK market to its fleet in 2020.

“As we enter this period of unprecedented growth it is critical that we recognise the distinct requirements and nature of each brand and offer an appropriate level of individual support to each of our agent partners who will continue to play a vital role for our brands.

“It is for this reason that we are announcing the introduction of individual sales teams for Cunard and P&O Cruises, which collectively represents a significant increase in dedicated resource.”

Rousham added: “This is an evolution of the sales organisation and underpins the need for distinct sales requirements for each of the two brands.

“Getting the right guest on the right brand is vital to meet future sales needs and we are committed to making further investment to meet and grow the new to cruise audience through improved support for our valued trade partners.”

The Partnership Team name will continue to exist but will be known as the Cunard Partnership Team and the P&O Cruises Partnership Team, the report said.

Pandaw to introduce third ship in Laos in 2019

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 15 September 2017 15 September 2017

Pandaw Expeditions, the Singapore-Scottish river cruise company, said it would introduce its third ship in Laos, on the Mekong River in September 2019.

“The double decked vessel to be named RV Sabei Pandaw is designed to meet the navigational challenges of shooting the rapids in the Laos gorges with its shallow draft and powerful engines to ensure year-round passage,” the company said in a newsletter.

The ship will have just 12 staterooms; eight on the main deck and four on the upper deck as well as an open plan saloon with flexible indoor or outdoor dining. “The Sabei will be handcrafted to our usual level of excellence in teak and brass and provide all the comforts of the personalised service our guests expect,” the company said.

Pandaw's headquarters are in Singapore and the company is legally domiciled in Scotland.

Fincantieri cuts steel for the next Princess newbuild

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 11 September 2017 11 September 2017

The steel cutting of the new ship for Princess Cruises, brand of Carnival Corporation, took place on September 8 at Fincantieri’s shipyard in Monfalcone. It will be the fourth of the class for Princess Cruises, following Royal, Regal and Majestic, respectively delivered in 2013, 2014 and 2017 by the same yard.

Works for the construction of a bow section for this unit began last November at Fincantieri’s shipyard in Castellammare di Stabia (Naples). The section will be then transported by sea and assembled to the rest of the hull in Monfalcone, where delivery will take place by the end of 2019.

"The newbuild will be 145,000 gross tons and will be able to accommodate 4,250 passengers on board. The vessel will represent a new technological benchmark in Europe and worldwide for its innovative layout, the outstanding performances and the top quality of its state-of-the-art technology. It will be the best proof that innovation and customer care are fundamental levers to stand out its market leadership and further consolidate Fincantieri’s historic partnership with the Carnival Corp., the world's largest leisure travel company," Fincantieri said in a statement.

Hurricane Irma – Disney Cruise Line adjusts its itineraries

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 09 September 2017 09 September 2017

Disney Cruise Line has announced a tropical weather update on September 9 at 5:30 pm:

"Based on the projected path of Hurricane Irma, Disney Cruise Line is making the following adjustments to itineraries:

Disney Dream – The September 11 sailing of the Disney Dream is cancelled. Refunds will automatically be processed back to the original form of payment used for the cruise booking. Guests are invited to book a future cruise at a 25 percent discount by calling us at 1-855-347-2784 or 407-566-7054 from September 18, 2017, through October 18, 2017.

Future Bahamian and Eastern Caribbean sailings – At this time, there are no changes to other sailings on the Disney Dream and Disney Fantasy. However, we continue to closely monitor Hurricane Irma and assess its impact on the ports of call we visit in the Caribbean and Bahamas. Updates regarding any necessary itinerary changes will be posted beginning September 12.

While we always strive to deliver magical cruise vacations, nothing is more important to us than providing a safe experience for our guests and crew. We will continue to closely monitor the weather and provide updates as necessary."