Carnival Corp Stock Price, News & Analysis

Princess Cruises has officially resumed service with its third U.S. ship, Emerald Princess, departing from Los Angeles on a 15-day Panama Canal cruise. The inaugural guests were welcomed aboard with a ribbon-cutting ceremony. Emerald Princess is set to arrive in Ft. Lauderdale on October 30, 2021, followed by a series of 10-day cruises until December. The ship features MedallionClass technology, enhancing guest experiences through touch-free services. Vaccination protocols are in place, requiring guests to be fully vaccinated and provide a negative COVID-19 test.

Holland America Line announced that Her Royal Highness Princess Margriet of the Netherlands will be the godmother of the Rotterdam, marking the 13th ship named by a Dutch Royal. This continues the line's tradition with the royal family, dating back to 1929. The Rotterdam will be named in Rotterdam next year, with its maiden cruise departing on Oct. 20, 2021. The ship, delivered on July 30, 2021, will sail various itineraries from Fort Lauderdale and return to Europe for a summer season in Norway and the Baltic.

Princess Cruises announces the return of three additional ships to service from February to April 2022, enhancing its operations in the United States. Crown Princess, Island Princess, and Royal Princess will sail from Los Angeles, Seattle, Vancouver, and Ft. Lauderdale, joining eight ships already in operation, which represents 79% of their capacity. Enhanced health protocols will be in place, requiring vaccination for guests and crew. The MedallionClass technology offers touchless experiences onboard. Cancellations of select Crown Princess cruises will occur to accommodate the restarts.

Carnival Corporation has appointed John Padgett as the new president of Princess Cruises, effective immediately. Padgett, previously chief experience and innovation officer, will manage all operational functions of Princess Cruises, which operates a fleet of 14 ships. He will report to Jan Swartz, who has led the brand since 2013. Padgett is recognized for his role in developing the award-winning MedallionClass® experience, which enhances guest experiences through innovative technology. His leadership aims to drive further growth as the cruise line navigates a dynamic market.

Princess Cruises celebrated the maiden call of its ship, Majestic Princess, in San Francisco on October 11, 2021, marking the return of cruise operations to the city after a global pause. The ship's seven-day Classic California Coast voyage commenced from Los Angeles. Guests on board enjoyed various attractions in San Francisco while the local businesses anticipated the positive economic impact from the return of cruises. Ensuring health safety, passengers are required to be fully vaccinated and present a negative COVID-19 test before boarding.

Holland America Line celebrated the inaugural West Coast departure of its ship Koningsdam on October 10, 2021, from San Diego. This marks the cruise line's return to service following an industry-wide pause. The Pinnacle Class vessel will embark on 23 seven-day cruises to Mexico and the California coast until April 3, 2022. The cruise line will contribute over $35 million in direct spending to San Diego's economy, with each ship visit generating around $364,000. Holland America Line aims to reconnect with guests, enhancing the cruising experience while implementing sustainable practices.

Carnival Corporation (CCL) successfully completed a $2.3 billion senior secured term loan facility to redeem its 11.5% First Priority Senior Secured Notes due 2023. The loan, maturing in 2028, will save over $135 million annually in interest. The refinancing transaction aims to improve liquidity and extend maturities, while a conditional notice of redemption for the 2023 Notes has been issued. This financial maneuver is expected to enhance Carnival's stability amid ongoing market challenges.

Carnival Cruise Line announced plans to resume operations of more ships in January and February 2022, aiming for full fleet service by spring. By year-end, 17 ships will be operational, with Carnival Sunshine restarting on January 13 and Carnival Liberty on February 11. This expansion will represent 90% of Carnival's U.S. capacity. The company is optimistic about future vaccine approvals for younger children, facilitating family travel. However, three U.S.-based ships and two Australian ships remain canceled through February.