Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Carnival plc    CCL   GB0031215220

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Costa puts hopes on new flagship after cruise disaster

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/05/2012 | 09:30pm CEST

Cruise operator Costa Crociere took delivery of a new flagship liner on Saturday, hoping the glamour of Italy's biggest ship will mark a new era for a company whose reputation was marred by the deadly Concordia disaster.

The 114,500-tonne Costa Fascinosa, built by state-owned shipyard Fincantieri, has space for 3,500 passengers. An even bigger vessel, with 5,000 berths, should be ready in 2014 for a company that says bookings have recovered from the crisis.

"We can't ignore the January accident. It hit us hard. We are working on safety issues," Costa CEO and Chairman Pier Luigi Foschi told reporters in a spacious bar onboard the Fascinosa with a view over Venice's lagoon.

In January, the Costa Concordia hit a reef near the island of Giglio off the Tuscan coast, capsizing and killing at least 30 people in an accident investigators say was caused when its captain Francesco Schettino took the ship too close to shore.

The accident rocked the cruise liner industry, hitting bookings and raising concerns about the safety of the huge modern cruise ships that ply the seas with thousands of passengers aboard.

For Costa Crociere, which last year carried 2.3 million passengers, it could hardly have come at a worse time, with the global economic crisis already making potential cruise customers nervous about their jobs and finances.

The company actually stopped marketing for a period but now says customers are flowing back.

"Despite the economic downturn and the impact on consumption Costa has bounced back and booking volumes are back to the same levels recorded this time last year," Foschi said.

Costa has promised to introduce a real-time route-monitoring system, which will be later adopted by parent group Carnival Corporation & Plc, and a system to increase sharing of the ship's navigation plan between the captain and the officers.

"We do not want to radically change the responsibilities of the captain but simply allow other officers to give opinions," Foschi said.

Some of the Concordia officers have said they raised the alarm day but that Schettino dismissed the scale of the danger.

SIZE COUNTS

The Costa Fascinosa, which will make its inaugural cruise on May 11, is a floating city with a shopping centre, five restaurants, 13 bars, casino rooms and more.

Carnival brushed off concerns that liners have grown too big, saying it is giving customers what they want.

"It's true some people go for smaller ships for premium and luxury cruises but the bigger liners create additional amenities and they are the preference. They're here to stay for quite some time," Carnival's Chief Operating Officer Howard Frank said.

Protesters in Venice, where the Fascinosa was built, have called for large vessels to be banned from sailing in the Lagoon waters in front of St. Mark's square because of the environmental damage they cause.

There are also concerns of damage to tourism in Giglio where the Concordia will lie for some time. The company says the ship can be towed away in nine months.

Carnival says the cruise industry is something of a lifeline for Italy's flagging labor market, not just for the tourists it brings but for the shipbuilding industry too.

"In the last 23-24 years Carnival has invested some $24 billion in building ships in Italy, I think that's the largest investment made in the country by any one company," Frank said.

Carnival has five new ships being built by Fincantieri.

(Editing by Robin Pomeroy)

By Stephen Jewkes

Stocks treated in this article : Carnival plc, Royal Caribbean Cruises Ltd.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CARNIVAL PLC
08:49aDJAHEAD OF THE TAPE : Carnival Shares Are Cruising Higher -- WSJ
08:01a CARNIVAL : Carnival Corporation & plc Purchase of Shares
03/27 CARNIVAL : Leadership change for Carnival UK
03/27 CARNIVAL : Carnival Corporation & plc Purchase of Shares
03/27DJCARNIVAL : Shareholders Are Having Fun Now, Too -- Ahead of the Tape
03/24 CARNIVAL : Carnival Corporation & plc Purchase of Shares
03/23 CARNIVAL : & plc Purchase of Shares
03/23 CARNIVAL : & plc Purchase of Shares
03/23 CARNIVAL : & plc Purchase of Shares
03/23 CARNIVAL : & plc Purchase of Shares
More news
Sector news : Cruise Lines
08:49aDJAHEAD OF THE TAPE : Carnival Shares Are Cruising Higher -- WSJ
03/27DJCARNIVAL : Shareholders Are Having Fun Now, Too -- Ahead of the Tape
03/24 HYATT HOTELS : Trump's Indonesia business partner says planned resort to respect..
03/15 HILTON WORLDWIDE : China's Anbang denies report of Kushner property investment
03/09 CARNIVAL : Cruise giants cut South Korean ports from China-based trips
More sector news : Cruise Lines
News from SeekingAlpha
02/14 Stocks Going Ex-Dividend The Fourth Week Of February
01/04 INSIDERINSIGHTS.COM DAILY ROUND UP 1 : Ltre, spke, glv, opk
2016 Cruise industry forecast from CLIA
2016 Stocks Going Ex-Dividend The Fourth Week Of November
2016 Carnival details share repurchase plan
Advertisement
Financials ($)
Sales 2017 16 540 M
EBIT 2017 2 960 M
Net income 2017 2 577 M
Debt 2017 6 947 M
Yield 2017 2,53%
P/E ratio 2017 15,76
P/E ratio 2018 13,45
EV / Sales 2017 2,97x
EV / Sales 2018 2,80x
Capitalization 42 101 M
More Financials
Chart CARNIVAL PLC
Duration : Period :
Carnival plc Technical Analysis Chart | CCL | GB0031215220 | 4-Traders
Full-screen chart
Technical analysis trends CARNIVAL PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 56,0 $
Spread / Average Target -0,98%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Arnold W. Donald President, Chief Executive Officer & Director
Micky Meir Arison Chairman
Alan B. Buckelew Chief Operating Officer
David Bernstein Chief Financial Officer & Accounting Officer
John Parker Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CARNIVAL PLC10.30%42 101
CARNIVAL CORP13.08%42 101
MARRIOTT INTERNATIONAL..12.69%35 736
ROYAL CARIBBEAN CRUISE..21.01%21 326
HILTON WORLDWIDE HOLDI..-29.11%19 075
ACCOR7.89%11 826
More Results