Carnival Corporation & plc Orders New Ships for Its Holland America Line and
Carnival Cruise Lines Brands
MIAMI, Oct. 26, 2012 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK)
today announced it has reached an agreement for the construction of two new
cruise ships - a 99,000-ton ship for its Holland America Line brand and a
135,000-ton vessel for its Carnival Cruise Lines brand.
A memorandum of agreement has been signed with Italian shipbuilder Fincantieri
for the construction of a 2,660-passenger ship for Holland America Line
scheduled for delivery in fall 2015 and a 4,000-passenger ship for Carnival
Cruise Lines scheduled for delivery in winter 2016. The total cost for the two
vessels combined, which includes the U.S. dollar denominated contract price and
all owner's costs, will be approximately $195,000 per lower berth. The
memorandum of agreement is subject to customary closing conditions, including
execution of shipbuilding contracts and financing.
The Holland America ship, which will be a new class of vessel for the line,
will enter service five years after the last Holland America ship, the ms Nieuw
Amsterdam, delivered in 2010. The Carnival Cruise Lines vessel, also a new
class of ship, will be launched four years after the introduction of Carnival
Breeze, which debuted in spring 2012. The timing of capacity additions for
these brands is similar to the five year span between upcoming new ship
introductions for both Princess Cruises and P&O Cruises (UK), as previously
"Today's order continues the company's strategy of introducing two to three
ships per year across the corporation's 10 brands. We have strategically timed
the introduction of these new ships to allow ample time for those brands to
further grow their passenger base and absorb the new capacity while minimizing
revenue yield dilution in the remainder of their existing fleets," said Micky
Arison, chairman and CEO of Carnival Corporation & plc.
Including the newbuilds announced today, Carnival Corporation & plc currently
has nine new ships scheduled for delivery - two for 2013, two for 2014, three
for 2015 and two for 2016. Arison also noted that the addition of new tonnage
is expected, to some extent, to replace existing capacity reductions from
possible sales of older ships.
The memorandum of agreement with Fincantieri continues the company's
longstanding and successful relationship with the Italian shipbuilder, which
dates back more than 20 years.
Giuseppe Bono, CEO of Fincantieri, said, "These additional orders bring the
total number of ships we have built for Carnival Corporation & plc to 61 and
confirm Fincantieri's world leadership in the cruise ship sector even at a time
of slowing demand." Bono added, "We view these orders as a very positive
development for the Italian economy and the global cruise industry."
Carnival Corporation & plc is the largest cruise vacation group in the world,
with a portfolio of cruise brands in North America, Europe, Australia and Asia,
comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises,
Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, P&O Cruises (UK)
and P&O Cruises (Australia).
Together, these brands operate 100 ships totaling approximately 203,000 lower
berths with nine new ships scheduled to be delivered between March 2013 and
March 2016. Carnival Corporation & plc also operates Holland America Princess
Alaska Tours, the leading tour company in Alaska and the Canadian Yukon. Traded
on both the New York and London Stock Exchanges, Carnival Corporation & plc is
the only group in the world to be included in both the S&P 500 and the FTSE 100
SOURCE Carnival Plc
CONTACT: MEDIA CONTACTS US, Carnival Corporation & plc, Jennifer de la Cruz, or
Vance Gulliksen, +1-305-599-2600, ext. 16000, or INVESTOR RELATIONS CONTACT US/
UK, Carnival Corporation & plc, Beth Roberts, +1-305-406-4832
-0- Oct/26/2012 13:15 GMT
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