The cruise industry is staging a strong comeback post-pandemic, with Carnival Corporation reporting record revenues in December 2024. CEO Josh Weinstein noted a $700 million revenue increase over initial projections. As demand rises, major players like Royal Caribbean and Disney Cruise Line invest in new LNG-powered vessels to enhance fleet capabilities and sustainability.
In March 2020, the cruise industry faced a major setback due to the COVID-19 pandemic, leaving passengers stranded worldwide. Today, Carnival Corp is leading the industry’s recovery with strong bookings for 2025. Despite rising costs, the company exceeded profit expectations in the fourth quarter. CEO Josh Weinstein is optimistic about the future.
Carnival Corp has exceeded market expectations for third-quarter results, raising its annual profit forecast for the third time. The surge in demand for cruise vacations and reduced operational costs contributed to the company’s strong performance. Despite a slight decline in fourth-quarter earnings per share target, Carnival remains optimistic about its financial outlook for the year.
Norwegian Cruise Line Holdings raised its profit forecast for the third time, benefitting from high demand for luxury travel. CEO Harry Sommer reported record bookings for budget cruises, leading to increased ticket prices. Despite strong earnings in Q2, the company’s shares declined due to rising oil prices and slightly lower revenue expectations.
Carnival Corporation & plc has partnered with Fincantieri to build three new cruise ships, set to be the largest in the Carnival fleet and the largest ever built in Italy. These LNG-powered ships will accommodate nearly 8,000 guests each and feature advanced energy-saving technologies. Construction is scheduled for delivery between 2029 and 2033.
Carnival Corp raised its profit forecast amid a surge in bookings for 2025 cruises. The company reported record customer deposits and prepaid $1.6 billion in debt. Although cruise costs increased, earnings per share for 2024 are expected to reach $1.18. Competitors Royal Caribbean Group and Norwegian Cruise Line also raised annual profit targets.
Qatar Airways celebrated the ‘Day of the Seafarer’ at the Mariner Lounge in Hamad International Airport with marine industry leaders. The event showcased the airline’s commitment to appreciating seafarers’ contributions. Representatives from Carnival Corporation, Norwegian Cruise Line Holdings, and Royal Caribbean Group came together to honor the vital role of seafarers. Qatar Airways demonstrated its dedication to supporting these unsung heroes.
Carnival Corporation announced record-breaking sales in the first quarter of 2024, with revenue hitting $5.4 billion, a 26% increase from the same period in 2023. The company reported a net loss of $214 million, an improvement from the previous year, and raised its full-year forecast due to strong demand.
Carnival Corporation announced its first newbuild contract since the start of the COVID-19 pandemic, signing a deal for a fourth Excel-class cruise ship with German shipbuilder Meyer Werft. The 180,000-ton vessel is expected to join the fleet in spring 2027, offering space for over 6,400 guests and powered by LNG.
Carnival Corporation & plc is making significant progress in reducing greenhouse gas emissions, with a goal of achieving net-zero emissions from ship operations by 2050. The company is on track to reduce emissions intensity by 18% by 2024 and has advanced its 2030 target by four years. They are investing in fuel-saving technologies and exploring new, lower-emission fuels.
