September 24, 2016 11:52 PM ET

Hotels, Restaurants and Leisure

Company Overview of Carnival Corporation

Company Overview

Carnival Corporation operates as a leisure travel and cruise company in North America, Europe, Australia, and Asia. It offers cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, and Seabourn brands in North America; and Costa, AIDA, P&O Cruises (UK), Cunard, and P&O Cruises (Australia) brands in Europe, Australia, and Asia. The company operates 99 cruise ships. It also owns Holland America Princess Alaska Tours, a tour company in Alaska and the Canadian Yukon, which owns and operates 11 hotels or lodges, approximately 300 motor coaches, and 20 glass-domed railcars. In addition, the company is involved in the leasing of cruise ships. It sells its cruises primarily ...

3655 NW 87th Avenue

Miami, FL 33178

United States

Founded in 1972

94,600 Employees

Phone:

305-599-2600

Key Executives for Carnival Corporation

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 61
Total Annual Compensation: $1.0M
Chief Financial Officer and Chief Accounting Officer
Age: 58
Total Annual Compensation: $700.0K
Chief Operations Officer
Age: 67
Total Annual Compensation: $825.0K
Chief Executive Officer of Holland America Group
Age: 57
Total Annual Compensation: $825.0K
Chief Executive Officer of Costa Group
Age: 52
Total Annual Compensation: $784.0K
Compensation as of Fiscal Year 2015.

Carnival Corporation Key Developments

Carnival Signs Agreement to Purchase Two China-Built Cruise Ships

Carnival agreed to purchase the cruise industry's first ships built in China for what it hopes is a burgeoning Chinese market. Carnival has signed a memorandum of agreement to order two new cruise ships that will be built by China State Shipbuilding Corp. and Fincantieri. The memorandum also gives Carnival the option to order two more of the ships built in China. Carnival will use the ships to help launch the first multi-ship domestic cruise brand in China. They will be designed to fit "the specific tastes of Chinese travelers. The first ship is expected to be delivered in 2022.

Carnival Corporation Set to Build 3 New LNG-Powered Cruise Ships with Meyer Werft and Meyer Turku

Carnival Corp. & plc signed a memorandum of agreement with German and Finnish shipbuilders Meyer Werft and Meyer Turku to deliver three additional next-generation cruise ships that will be fully powered by Liquefied Natural Gas (LNG), the cleanest burning fossil fuel in the world. the shipbuilding agreements are subject to several conditions, including satisfactory financing. Carnival Corp. said two of the new LNG-powered ships are designated for the cruise brand, Carnival Cruise Line, and will be built by Meyer Turku at its shipyard in Turku, Finland, with delivery dates expected in 2020 and 2022. The new ship for P&O Cruises UK will be built by Meyer Werft at its shipyard in Papenburg, Germany, with an expected delivery date in 2020. In conjunction with the order, the delivery dates for the new builds for Germany-based AIDA Cruises and Italy-based Costa Cruises for 2020 will shift to 2021 to allow the company to more effectively allocate measured capacity growth across its 10 global cruise brands in more markets throughout the world. In total, the company noted, it now has agreements in place to build seven LNG-powered cruise ships across four of its 10 global cruise brands in coming years. As previously announced, the first of these ships is expected to be in service for AIDA Cruises and Costa Cruises in 2019.

Carnival Corporation and Port Everglades Extend Agreement to 2030

Carnival Corporation & plc signed an addendum to one of its strategic passenger terminal agreements, extending the contract through 2030 with an additional five years of sailings to and from Port Everglades. As part of the addendum, Carnival Corporation will have preferential use of Cruise Terminal 4, which reopened last year after $24 million worth of renovations and upgrades designed for greater efficiency and guest convenience. Additionally, the port is currently undertaking an estimated $13.6 million slip extension project on Terminal 4, expected to be complete by the middle of 2017, that will lengthen the slip to accommodate larger cruise ships. As part of the long-term agreement, the company also has preferential use of three additional terminals, Cruise Terminals 2, 21 and 26, along with one additional terminal. This provides five terminals in total for Carnival Corporation to serve its guests who visit Fort Lauderdale as part of their cruise vacation. Furthering its dedication to the port, the company will add a second ship from its Carnival Cruise Line brand, Carnival Splendor, to sail from Port Everglades during the 2017 summer season. In addition to Carnival Cruise Line, six more of Carnival Corporation's 10 global cruise line brands currently carry nearly a million and a half passengers to and from Port Everglades each year. These brands include Holland America Line, Costa Cruises, Cunard Line, P&O Cruises UK, Princess Cruises and Seabourn. The seven Carnival Corporation brands and 28 different ships account for a combined average of more than 300 calls at the port each year. As part of the original agreement, the port undertook a $54 million cruise terminal renovation project to make significant improvements to four existing cruise terminals to accommodate ships from Carnival Corporation's fleet of global cruise line brands. Enhancements made as part of the project included features to enable simultaneous embarkation and debarkation processes, including two passenger loading bridges, separate and larger baggage halls and improved ground transportation areas. As part of the extension, Carnival Corporation and Port Everglades will engage in discussions to examine the opportunity for possible further improvements to Cruise Terminal 21 to accommodate Carnival Corporation's newest class of ships.

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