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Carnival Corporation & plc

Carnival Corporation & plc is a British-American cruise operator with a combined fleet of over ninety vessels across nine cruise line brands and one joint venture with China State Shipbuilding Corporation (CSSC).[4] A dual-listed company, Carnival is composed of two companies – Panama-incorporated, US-headquartered Carnival Corporation, and UK-based Carnival plc – which function as one entity. Carnival Corporation is listed on the New York Stock Exchange, whereas Carnival plc is listed on the London Stock Exchange with an ADR listing on the NYSE.[7] Carnival is listed in both the S&P 500 and FTSE 250 indices.[8]

Carnival Corporation & plc
Carnival Place, Carnival Cruise Line headquarters in Doral, Florida
Company typeDual-listed; Public (Panama corporation and UK public limited company)
ISIN
IndustryHospitality, Tourism
PredecessorsCarnival Cruise Line[1] (an existing subsidiary; Carnival Corporation)
P&O Princess Cruises[2] (Carnival plc)
Founded1972; 52 years ago (1972)[3] (as Carnival Cruise Line, now a subsidiary)
1993; 31 years ago (1993) (as Carnival Corporation)
2003; 21 years ago (2003)[2] (as Carnival Corporation & plc)
Founder
HeadquartersMiami, Florida, United States (Operations: Doral, Florida)
Southampton, United Kingdom
Legal domicile of Carnival Corporation: Panama
Area served
Worldwide
Key people
Micky Arison
(Chairman)
Arnold W. Donald
(President and CEO)
Brands
ServicesCruise line
Revenue US$21.593 billion (2023)[5]
US$1.956 billion (2023)[5]
US$(0.074) billion (2023)[5]
Total assets US$49.120 billion (2023)[5]
Total equity US$6.882 billion (2023)[5]
Number of employees
90,000 (2024)[6]
Websitewww.carnivalcorp.com

The American entity Carnival Corporation has its headquarters in the United States,[9] with operational headquarters located in the city of Doral, Florida. The UK entity Carnival plc has its headquarters in Southampton, England.[10][11]

History edit

Carnival Corporation was founded as Carnival Cruise Line in 1972. The company grew steadily throughout the 1970s and 1980s, making an initial public offering on the New York Stock Exchange in 1987. The capital generated was used to finance acquisitions. Between 1989 and 1999, the company acquired Holland America Line, Windstar Cruises, Westours, Seabourn Cruise Line, Costa Cruises and Cunard Line. The name Carnival Corporation was adopted in 1993, to distinguish the parent company from its flagship cruise line subsidiary.[3]

P&O Princess Cruises plc was formed in 2000, following the demerger of the cruise ship division of the P&O group.[12] Originating as the Peninsular and Oriental Steam Navigation Company in England in 1837, P&O operated the world's first commercial cruise ships. Restructuring of the P&O group in the 20th century led to its cruise operations being rebranded as P&O Cruises and P&O Cruises Australia, with the company acquiring Princess Cruises in 1974. Following the demerger in 2000, the company also acquired AIDA Cruises,[13] as well as establishing the A'Rosa Cruises and Ocean Village brands.[14]

In 2003, Carnival Corporation acquired P&O Princess Cruises plc.[15] It was agreed that P&O Princess Cruises plc would remain a separate company, listed on the London Stock Exchange and retaining its British shareholder body and management team. The company was renamed Carnival plc, with the operations of the two companies merged into one entity. Carnival Corporation and Carnival plc jointly own all the operating companies in the Carnival group.[2] Prior to Carnival Corporation's acquisition, P&O Princess Cruises plc had agreed to a merger with Royal Caribbean Cruises Ltd. The deal unraveled as Carnival Corporation initiated a hostile takeover with improved terms for British shareholders.[16]

Carnival sold Windstar Cruises to Ambassadors Group in February 2007[17] and Swan Hellenic to Lord Sterling in March 2007.[18]

In October 2015, CSSC Carnival Cruise Shipping, a joint venture between Carnival, the China Investment Corporation, and the China State Shipbuilding Corporation, was founded, with operations expected to commence in 2019.[19][20]

In March 2018, Carnival Corporation announced its intention to invest in the construction of a new terminal in the port of Sasebo, Japan. It is expected to open in 2020.[21]

In June 2018, Carnival Corporation announced that it had acquired the White Pass and Yukon Route from TWC Enterprises Limited for US$290 million. The properties acquired were port, railroad and retail operations in Skagway, Alaska.[22]

Effects of the COVID-19 pandemic edit

All cruise ship itineraries were cancelled in March 2020 due to the worldwide pandemic and eventually, 55 passengers on ships owned by Carnival Corporation & plc were reported as having died.[23] After months of cancelled cruises, Carnival Corporation & plc announced in September 2020 that it intended to dispose of 18 ships, a full 12% of the global fleet. By that time, five ships had already been scrapped: Carnival Fantasy, Carnival Fascination, Carnival Imagination, Carnival Inspiration and Costa Victoria.[24]

The corporation also announced that it was delaying the delivery of several ships already on order. These steps were part of the company's cost-cutting plan, important because the "pause in guest operations continues to have a material negative impact on all aspects of the company's business, including the company's liquidity, financial position and results of operations".[24] The adjusted net loss in the third quarter was reported by the corporation to the U.S. Securities and Exchange Commission as US$1.7 billion.[25][26][27]

As of September 2020, the no-sail rule by the Centers for Disease Control and Prevention prohibited cruising in the U.S. until October 31, 2020, at the earliest. Members of the Cruise Lines International Association, including Carnival Corporation & plc, had announced in early August that its members were extending a voluntary suspension until October 31; that applied to cruises that were to depart from the U.S. or planned to stop at U.S. ports of call.[28]

In November 2020, the CEO said he was confident that "universal testing, which doesn't exist in any other industry of scale" would help start the cruising industry.[29]

The company's fourth quarter (ending 30 November 2020) financial statement released on 11 January 2021, indicated that one extra ship, in addition to the 18 previously planned, was to be sold. Carnival Corporation was in an excellent cash position, with US$9.5 billion, but suffered an adjusted net loss of $1.9 billion in the quarter.[30]

Current operations edit

The Carnival group comprises nine cruise line brands and one cruise experience brand operating a combined fleet of 91 ships.[31]

In June 2023, Carnival restructured its corporate umbrella and created six new separate units that have full executive control of the brands in their portfolio.[32] CSSC Carnival Cruise Shipping is a separate entity founded in 2015, in which Carnival owns a 40% stake while the majority is controlled by Chinese shareholders.[33]

Carnival Cruise Line edit

Carnival UK edit

Princess Cruises edit

Holland America Line edit

Costa Cruises edit

AIDA Cruises edit

Carnival China edit

  • Adora Cruises (formerly CSSC Carnival Cruise Shipping) – headquarters in Hong Kong, China

Brands and ships edit

AIDA Cruises edit

AIDA Cruises originated from the state-owned German shipping conglomerate Deutsche Seereederei, established in Rostock, Germany, in 1952.[36] The company entered the passenger market in the 1960s, but after the unification of Germany in 1990, the company was privatised and its passenger ships acquired by Deutsche Seetouristik. In 1996, the company launched its first new cruise ship AIDA, but after failing to achieve a profit, the ship was sold to Norwegian Cruise Line, continuing operations under a charter agreement.[36]

In 1999, Deutsche Seetouristik was acquired by British shipping company P&O, with the AIDA name being repurchased from NCL. P&O formed AIDA Cruises as a subsidiary brand, with two new ships ordered to form a fleet. AIDA was renamed AIDAcara, with AIDAvita and AIDAaura launched in 2002 and 2003 respectively.[36]

Carnival Cruise Line edit

Carnival Cruise Line was founded in 1972 as a subsidiary of American International Travel Service (AITS), by Ted Arison and Meshulam Riklis.[3] Due to mounting debts, Riklis sold his stake in the company to Arison for $1 in 1974. Through the acquisition of existing ships the company continued to grow. In 1980, Carnival ordered its first new commission, the Tropicale, which was completed in 1981/2.[3] Three further ships were commissioned during the 1980s, the Holiday (1985), Jubilee (1986) and Celebration (1987).[3]

In 1987, Carnival completed an initial public offering of 20 percent of its common stock on the New York Stock Exchange, raising approximately $400m in capital.[3] The capital raised was used to finance acquisitions, so in 1993 the business was restructured as a holding company, under the name Carnival Corporation, with Carnival Cruise Line becoming its principal subsidiary.[3]

Costa Cruises edit

Costa Cruises originates from a cargo shipping company founded by Giacomo Costa fu Andrea in Genoa, Italy in 1854.[38] Better known as Costa Line or C Line by the 1920s, its first passenger carrier was Maria C, a former U.S. Navy stores ship that was partly converted for passenger use and served various routes to North and South America from 1947 to 1953.[38] The company's first dedicated passenger ship was the Anna C, a cargo vessel that was requisitioned for war time use by the Royal Navy and refitted as an accommodation ship before returning to merchant use.[38]

Costa purchased the ship in 1947 and it operated between Italy and South America from 1948, later converting to full-time cruising and serving with the company until 1971. From the late 1960s until the 1980s, Costa rapidly developed its passenger operations into what we now recognise as modern cruise ships. In 1987, it consolidated its cruise ship operations into a new company, Costa Cruises, which at its peak, was the largest cruise ship operator in the world.[39]

The takeover of Costa Cruises by Carnival Corporation began in 1997, as a 50/50 deal between Carnival and the British tour operator Airtours.[39] On 13 January 2012, Costa Concordia, a ship operated by the line, hit an underwater rock and ran aground in Isola del Giglio, Tuscany, resulting in 32 deaths. Investigations proved that the captain and general bad organization was responsible for the disaster, and the company was fined.[40]

Carnival CSSC edit

Adora Cruises (CSSC Carnival Cruise Shipping) is a Chinese-American cruise line that is scheduled to begin operation in 2023. CSSC Carnival was founded in October 2015 as a joint venture, worth about $4 billion over ten years, between American cruise line Carnival Corporation & plc, Chinese sovereign wealth fund China Investment Corporation, and Chinese shipbuilder China State Shipbuilding Corporation (CSSC). CSSC Carnival is headquartered in Hong Kong. It is majority owned by the Chinese shareholders, which collectively own 60% of the company, with Carnival holding the remainder.[19]

Cunard Line edit

The second oldest brand in the Carnival group after P&O, Cunard Line originated in 1840 and celebrated its 180th anniversary in 2020. It was founded by Samuel Cunard, who was awarded the first trans-Atlantic mail contract in 1837 and established the British and North American Royal Mail Steam-Packet Company in 1840.[41] After initially dominating the trans-Atlantic route, the need for new capital led to the company being re-organised as the Cunard Steamship Company Ltd in 1879.[42] The early 1900s saw increased competition for speed, particularly from Germany, which led the British government to subsidise the building of Mauretania and Lusitania, which both won the Blue Riband. Competition continued to increase however and by the early 1930s, Cunard was experiencing financial difficulties.[43] To secure further government subsidy, it agreed to merge with its chief rival White Star Line, to form Cunard-White Star Line in 1934.[44] Cunard later purchased the remaining White Star shares in 1947, reverting to the name Cunard Line in 1949. Cunard continued to operate independently until 1971, when it was acquired by the conglomerate Trafalgar House, which was in turn taken over by the Norwegian company Kværner in 1996.[45] In 1998, Carnival Corporation purchased a controlling stake in Cunard, completing the acquisition in 1999 to become sole shareholder.[46] Since that time, Cunard has been one of Carnival's most high-profile brands, with the continued popularity of the famous Queen Elizabeth 2 and the development of the world's largest trans-Atlantic Ocean liner Queen Mary 2, which continues to be the flagship of the fleet.[47]

Holland America Line edit

Holland America Line originated as Plate, Reuchlin & Company, founded in Rotterdam, Netherlands, in 1871. Initially struggling to survive, the company went public in 1873, renamed Nederlandsch Amerikaansche Stoomvaart Maatschappij (NASM).[48] The company grew quickly in the early years, acquiring several new ships, including SS Rotterdam, which operated the company's first passenger cruise in 1895. The company also quickly became known by its shortened English name, Holland America Line. By the early 1900s, the company had separated its cargo and passenger operations, with its passenger ships being identifiable by names ending with dam, a tradition which continues with Holland America cruise ships today. The development of container shipping in the 1960s, forced the company to make a decision between investing in new cargo ships, or cruise ships. It ultimately sold its cargo operations, becoming exclusively a cruise ship company in 1973.[48] Holland America continued to thrive well into the 1980s, consolidating its business with the acquisitions of Westours, Windstar Cruises and Home Lines. In 1989 however, it was itself the subject of an acquisition, when it was purchased in full by Carnival Corporation.[48]

P&O Cruises edit

P&O Cruises was originally a subsidiary of the British shipping company P&O and was founded in 1977.[49] Along with P&O Cruises Australia, it has the oldest heritage of any cruise line in the world, dating to P&O's first passenger operations in 1837.[50][51][52] P&O Cruises was divested from P&O in 2000, subsequently becoming a subsidiary of P&O Princess Cruises,[53] before coming under the ownership of Carnival Corporation & plc in 2003, following the merger between P&O Princess Cruises and Carnival Corporation.[2] P&O Cruises is based in Southampton, England, and operates a fleet of seven ships, dedicated to serving the British market.[54]

P&O Cruises Australia edit

Princess Cruises edit

Seabourn Cruise Line edit

Former brands edit

  • A-Rosa Cruises – Established by P&O Princess in 2001, sold following the Carnival merger in 2003
  • Fathom – Established by the Carnival Corporation in 2015 – Ended cruise operations in 2017. Its functions were reduced to operating as a tour group until the end of 2018.
  • Fiesta Marina Cruises – Established by Carnival Corp in 1993, liquidated in 1994. The sole ship was sold to the Epirotiki Line.
  • Ibero Cruises – Established by Carnival Corp in 2003, liquidated in 2014 with ships transferred to Costa Cruises and Cruise & Maritime Voyages.
  • Ocean Village – Established by P&O Princess in 2003, liquidated in 2010 with ship transferred to P&O Cruises Australia
  • Swan Hellenic – P&O Princess subsidiary since 1983, liquidated in 2007 with ship transferred to Princess Cruises
  • Windstar Cruises – Carnival subsidiary since 1989, sold to Ambassadors International in 2007.

Violations of environmental laws edit

In 2002 the Carnival Corporation pleaded guilty in United States District Court in Miami to criminal charges related to falsifying records of the oil-contaminated bilge water that six of its ships dumped into the sea from 1996 through 2001. The Carnival Corporation was ordered to pay $18 million in fines and perform community service, received five years' probation and must submit to a court-supervised worldwide environmental-compliance program for each of its cruise ships.[55]

For dumping oiled waste into the seas and lying to cover it up, Princess Cruise Lines was fined $40 million in 2016. According to federal authorities, it was the "largest-ever criminal penalty" for intentional vessel pollution. Officials said that these practices began in 2005 and persisted until August 2013, when a newly hired engineer blew the whistle. As part of its plea agreement, ships of the parent company Carnival Cruise lines were subjected to a court supervised environmental compliance plan for five years.[56]

For violation of the probation terms of 2016 Carnival and its Princess line were ordered to pay an additional $20 million penalty in 2019. The new violations included discharging plastic into waters in the Bahamas, falsifying records, and interfering with court supervision.[57]

Notable former ships edit

 
Costa Concordia after sinking

Carnival has had various notable ships in the past including:

References edit

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External links edit

  • Carnival Corporation website
  • Business data for Carnival Corporation & plc:
    • Google
    • SEC filings
    • Yahoo!


carnival, corporation, british, american, cruise, operator, with, combined, fleet, over, ninety, vessels, across, nine, cruise, line, brands, joint, venture, with, china, state, shipbuilding, corporation, cssc, dual, listed, company, carnival, composed, compan. Carnival Corporation amp plc is a British American cruise operator with a combined fleet of over ninety vessels across nine cruise line brands and one joint venture with China State Shipbuilding Corporation CSSC 4 A dual listed company Carnival is composed of two companies Panama incorporated US headquartered Carnival Corporation and UK based Carnival plc which function as one entity Carnival Corporation is listed on the New York Stock Exchange whereas Carnival plc is listed on the London Stock Exchange with an ADR listing on the NYSE 7 Carnival is listed in both the S amp P 500 and FTSE 250 indices 8 Carnival Corporation amp plcCarnival Place Carnival Cruise Line headquarters in Doral FloridaCompany typeDual listed Public Panama corporation and UK public limited company Traded asCarnival Corporation NYSE CCL Carnival plc LSE CCL NYSE CUK S amp P 500 component NYSE CCL FTSE 250 component LSE CCL ISINPA1436583006GB0031215220IndustryHospitality TourismPredecessorsCarnival Cruise Line 1 an existing subsidiary Carnival Corporation P amp O Princess Cruises 2 Carnival plc Founded1972 52 years ago 1972 3 as Carnival Cruise Line now a subsidiary 1993 31 years ago 1993 as Carnival Corporation 2003 21 years ago 2003 2 as Carnival Corporation amp plc FounderTed Arison 3 for the Carnival Cruise Line HeadquartersMiami Florida United States Operations Doral Florida Southampton United Kingdom Legal domicile of Carnival Corporation PanamaArea servedWorldwideKey peopleMicky Arison Chairman Arnold W Donald President and CEO BrandsAIDA CruisesCarnival Cruise LineCosta CruisesCunard LineHolland America LineP amp O CruisesP amp O Cruises AustraliaPrincess CruisesSeabourn 4 ServicesCruise lineRevenueUS 21 593 billion 2023 5 Operating incomeUS 1 956 billion 2023 5 Net incomeUS 0 074 billion 2023 5 Total assetsUS 49 120 billion 2023 5 Total equityUS 6 882 billion 2023 5 Number of employees90 000 2024 6 Websitewww wbr carnivalcorp wbr comThe American entity Carnival Corporation has its headquarters in the United States 9 with operational headquarters located in the city of Doral Florida The UK entity Carnival plc has its headquarters in Southampton England 10 11 Contents 1 History 2 Effects of the COVID 19 pandemic 3 Current operations 3 1 Carnival Cruise Line 3 2 Carnival UK 3 3 Princess Cruises 3 4 Holland America Line 3 5 Costa Cruises 3 6 AIDA Cruises 3 7 Carnival China 4 Brands and ships 4 1 AIDA Cruises 4 2 Carnival Cruise Line 4 3 Costa Cruises 4 4 Carnival CSSC 4 5 Cunard Line 4 6 Holland America Line 4 7 P amp O Cruises 4 8 P amp O Cruises Australia 4 9 Princess Cruises 4 10 Seabourn Cruise Line 4 11 Former brands 5 Violations of environmental laws 6 Notable former ships 7 References 8 External linksHistory editCarnival Corporation was founded as Carnival Cruise Line in 1972 The company grew steadily throughout the 1970s and 1980s making an initial public offering on the New York Stock Exchange in 1987 The capital generated was used to finance acquisitions Between 1989 and 1999 the company acquired Holland America Line Windstar Cruises Westours Seabourn Cruise Line Costa Cruises and Cunard Line The name Carnival Corporation was adopted in 1993 to distinguish the parent company from its flagship cruise line subsidiary 3 P amp O Princess Cruises plc was formed in 2000 following the demerger of the cruise ship division of the P amp O group 12 Originating as the Peninsular and Oriental Steam Navigation Company in England in 1837 P amp O operated the world s first commercial cruise ships Restructuring of the P amp O group in the 20th century led to its cruise operations being rebranded as P amp O Cruises and P amp O Cruises Australia with the company acquiring Princess Cruises in 1974 Following the demerger in 2000 the company also acquired AIDA Cruises 13 as well as establishing the A Rosa Cruises and Ocean Village brands 14 In 2003 Carnival Corporation acquired P amp O Princess Cruises plc 15 It was agreed that P amp O Princess Cruises plc would remain a separate company listed on the London Stock Exchange and retaining its British shareholder body and management team The company was renamed Carnival plc with the operations of the two companies merged into one entity Carnival Corporation and Carnival plc jointly own all the operating companies in the Carnival group 2 Prior to Carnival Corporation s acquisition P amp O Princess Cruises plc had agreed to a merger with Royal Caribbean Cruises Ltd The deal unraveled as Carnival Corporation initiated a hostile takeover with improved terms for British shareholders 16 Carnival sold Windstar Cruises to Ambassadors Group in February 2007 17 and Swan Hellenic to Lord Sterling in March 2007 18 In October 2015 CSSC Carnival Cruise Shipping a joint venture between Carnival the China Investment Corporation and the China State Shipbuilding Corporation was founded with operations expected to commence in 2019 19 20 In March 2018 Carnival Corporation announced its intention to invest in the construction of a new terminal in the port of Sasebo Japan It is expected to open in 2020 21 In June 2018 Carnival Corporation announced that it had acquired the White Pass and Yukon Route from TWC Enterprises Limited for US 290 million The properties acquired were port railroad and retail operations in Skagway Alaska 22 Effects of the COVID 19 pandemic editAll cruise ship itineraries were cancelled in March 2020 due to the worldwide pandemic and eventually 55 passengers on ships owned by Carnival Corporation amp plc were reported as having died 23 After months of cancelled cruises Carnival Corporation amp plc announced in September 2020 that it intended to dispose of 18 ships a full 12 of the global fleet By that time five ships had already been scrapped Carnival Fantasy Carnival Fascination Carnival Imagination Carnival Inspiration and Costa Victoria 24 The corporation also announced that it was delaying the delivery of several ships already on order These steps were part of the company s cost cutting plan important because the pause in guest operations continues to have a material negative impact on all aspects of the company s business including the company s liquidity financial position and results of operations 24 The adjusted net loss in the third quarter was reported by the corporation to the U S Securities and Exchange Commission as US 1 7 billion 25 26 27 As of September 2020 the no sail rule by the Centers for Disease Control and Prevention prohibited cruising in the U S until October 31 2020 at the earliest Members of the Cruise Lines International Association including Carnival Corporation amp plc had announced in early August that its members were extending a voluntary suspension until October 31 that applied to cruises that were to depart from the U S or planned to stop at U S ports of call 28 In November 2020 the CEO said he was confident that universal testing which doesn t exist in any other industry of scale would help start the cruising industry 29 The company s fourth quarter ending 30 November 2020 financial statement released on 11 January 2021 indicated that one extra ship in addition to the 18 previously planned was to be sold Carnival Corporation was in an excellent cash position with US 9 5 billion but suffered an adjusted net loss of 1 9 billion in the quarter 30 Current operations editThe Carnival group comprises nine cruise line brands and one cruise experience brand operating a combined fleet of 91 ships 31 In June 2023 Carnival restructured its corporate umbrella and created six new separate units that have full executive control of the brands in their portfolio 32 CSSC Carnival Cruise Shipping is a separate entity founded in 2015 in which Carnival owns a 40 stake while the majority is controlled by Chinese shareholders 33 Carnival Cruise Line edit Carnival Cruise Line headquarters in Miami Florida US White Pass and Yukon Route 34 35 Carnival Australia headquarters in Sydney Australia P amp O Cruises Australia headquarters in Sydney AustraliaCarnival UK edit P amp O Cruises headquarters in Southampton UK Cunard Line headquarters in Southampton UKPrincess Cruises edit Princess Cruises headquarters in Santa Clarita California US Princess ToursHolland America Line edit Holland America Line headquarters in Seattle Washington US Seabourn Cruise Line headquarters in Seattle Washington USCosta Cruises edit Costa Cruises headquarters in Genoa ItalyAIDA Cruises edit AIDA Cruises headquarters in Rostock GermanyCarnival China edit Adora Cruises formerly CSSC Carnival Cruise Shipping headquarters in Hong Kong ChinaBrands and ships editAIDA Cruises edit Main article AIDA Cruises AIDA Cruises originated from the state owned German shipping conglomerate Deutsche Seereederei established in Rostock Germany in 1952 36 The company entered the passenger market in the 1960s but after the unification of Germany in 1990 the company was privatised and its passenger ships acquired by Deutsche Seetouristik In 1996 the company launched its first new cruise ship AIDA but after failing to achieve a profit the ship was sold to Norwegian Cruise Line continuing operations under a charter agreement 36 In 1999 Deutsche Seetouristik was acquired by British shipping company P amp O with the AIDA name being repurchased from NCL P amp O formed AIDA Cruises as a subsidiary brand with two new ships ordered to form a fleet AIDA was renamed AIDAcara with AIDAvita and AIDAaura launched in 2002 and 2003 respectively 36 AIDAdiva AIDAbella AIDAluna AIDAblu AIDAsol AIDAmar AIDAstella AIDAprima AIDAperla AIDAnova AIDAcosma Carnival Cruise Line edit Main article Carnival Cruise Line Carnival Cruise Line was founded in 1972 as a subsidiary of American International Travel Service AITS by Ted Arison and Meshulam Riklis 3 Due to mounting debts Riklis sold his stake in the company to Arison for 1 in 1974 Through the acquisition of existing ships the company continued to grow In 1980 Carnival ordered its first new commission the Tropicale which was completed in 1981 2 3 Three further ships were commissioned during the 1980s the Holiday 1985 Jubilee 1986 and Celebration 1987 3 In 1987 Carnival completed an initial public offering of 20 percent of its common stock on the New York Stock Exchange raising approximately 400m in capital 3 The capital raised was used to finance acquisitions so in 1993 the business was restructured as a holding company under the name Carnival Corporation with Carnival Cruise Line becoming its principal subsidiary 3 Carnival Breeze Carnival Conquest Carnival Celebration Carnival Dream Carnival Elation Carnival Freedom Carnival Firenze Carnival Glory Carnival Horizon Carnival Jubilee Carnival Legend Carnival Liberty Carnival Luminosa Carnival Magic Mardi Gras Carnival Miracle Carnival Panorama Carnival Paradise Carnival Pride Carnival Radiance Carnival Spirit Carnival Splendor Carnival Sunshine Carnival Sunrise Carnival Valor Carnival Venezia Carnival Vista Sister ship to the Carnival Jubilee due 2027 37 Costa Cruises edit Main article Costa Cruises Costa Cruises originates from a cargo shipping company founded by Giacomo Costa fu Andrea in Genoa Italy in 1854 38 Better known as Costa Line or C Line by the 1920s its first passenger carrier was Maria C a former U S Navy stores ship that was partly converted for passenger use and served various routes to North and South America from 1947 to 1953 38 The company s first dedicated passenger ship was the Anna C a cargo vessel that was requisitioned for war time use by the Royal Navy and refitted as an accommodation ship before returning to merchant use 38 Costa purchased the ship in 1947 and it operated between Italy and South America from 1948 later converting to full time cruising and serving with the company until 1971 From the late 1960s until the 1980s Costa rapidly developed its passenger operations into what we now recognise as modern cruise ships In 1987 it consolidated its cruise ship operations into a new company Costa Cruises which at its peak was the largest cruise ship operator in the world 39 The takeover of Costa Cruises by Carnival Corporation began in 1997 as a 50 50 deal between Carnival and the British tour operator Airtours 39 On 13 January 2012 Costa Concordia a ship operated by the line hit an underwater rock and ran aground in Isola del Giglio Tuscany resulting in 32 deaths Investigations proved that the captain and general bad organization was responsible for the disaster and the company was fined 40 Costa Deliziosa Costa Diadema Costa Fascinosa Costa Favolosa Costa Fortuna Costa Pacifica Costa Serena Costa Smeralda Costa Toscana Carnival CSSC edit Main article CSSC Carnival Cruise Shipping Adora Cruises CSSC Carnival Cruise Shipping is a Chinese American cruise line that is scheduled to begin operation in 2023 CSSC Carnival was founded in October 2015 as a joint venture worth about 4 billion over ten years between American cruise line Carnival Corporation amp plc Chinese sovereign wealth fund China Investment Corporation and Chinese shipbuilder China State Shipbuilding Corporation CSSC CSSC Carnival is headquartered in Hong Kong It is majority owned by the Chinese shareholders which collectively own 60 of the company with Carnival holding the remainder 19 Mediterranea Adora Magic City Vista class newbuilding due 2024 Cunard Line edit Main article Cunard Line The second oldest brand in the Carnival group after P amp O Cunard Line originated in 1840 and celebrated its 180th anniversary in 2020 It was founded by Samuel Cunard who was awarded the first trans Atlantic mail contract in 1837 and established the British and North American Royal Mail Steam Packet Company in 1840 41 After initially dominating the trans Atlantic route the need for new capital led to the company being re organised as the Cunard Steamship Company Ltd in 1879 42 The early 1900s saw increased competition for speed particularly from Germany which led the British government to subsidise the building of Mauretania and Lusitania which both won the Blue Riband Competition continued to increase however and by the early 1930s Cunard was experiencing financial difficulties 43 To secure further government subsidy it agreed to merge with its chief rival White Star Line to form Cunard White Star Line in 1934 44 Cunard later purchased the remaining White Star shares in 1947 reverting to the name Cunard Line in 1949 Cunard continued to operate independently until 1971 when it was acquired by the conglomerate Trafalgar House which was in turn taken over by the Norwegian company Kvaerner in 1996 45 In 1998 Carnival Corporation purchased a controlling stake in Cunard completing the acquisition in 1999 to become sole shareholder 46 Since that time Cunard has been one of Carnival s most high profile brands with the continued popularity of the famous Queen Elizabeth 2 and the development of the world s largest trans Atlantic Ocean liner Queen Mary 2 which continues to be the flagship of the fleet 47 Queen Mary 2 Queen Victoria Queen Elizabeth Queen Anne due 2024 Holland America Line edit Main article Holland America Line Holland America Line originated as Plate Reuchlin amp Company founded in Rotterdam Netherlands in 1871 Initially struggling to survive the company went public in 1873 renamed Nederlandsch Amerikaansche Stoomvaart Maatschappij NASM 48 The company grew quickly in the early years acquiring several new ships including SS Rotterdam which operated the company s first passenger cruise in 1895 The company also quickly became known by its shortened English name Holland America Line By the early 1900s the company had separated its cargo and passenger operations with its passenger ships being identifiable by names ending with dam a tradition which continues with Holland America cruise ships today The development of container shipping in the 1960s forced the company to make a decision between investing in new cargo ships or cruise ships It ultimately sold its cargo operations becoming exclusively a cruise ship company in 1973 48 Holland America continued to thrive well into the 1980s consolidating its business with the acquisitions of Westours Windstar Cruises and Home Lines In 1989 however it was itself the subject of an acquisition when it was purchased in full by Carnival Corporation 48 Eurodam Koningsdam Nieuw Amsterdam Noordam Oosterdam Nieuw Statendam Rotterdam Volendam Westerdam Zaandam Zuiderdam P amp O Cruises edit Main article P amp O Cruises P amp O Cruises was originally a subsidiary of the British shipping company P amp O and was founded in 1977 49 Along with P amp O Cruises Australia it has the oldest heritage of any cruise line in the world dating to P amp O s first passenger operations in 1837 50 51 52 P amp O Cruises was divested from P amp O in 2000 subsequently becoming a subsidiary of P amp O Princess Cruises 53 before coming under the ownership of Carnival Corporation amp plc in 2003 following the merger between P amp O Princess Cruises and Carnival Corporation 2 P amp O Cruises is based in Southampton England and operates a fleet of seven ships dedicated to serving the British market 54 Arcadia Arvia Aurora Azura Britannia Iona Ventura P amp O Cruises Australia edit Main article P amp O Cruises Australia Pacific Adventure Pacific Encounter Pacific Explorer Princess Cruises edit Main article Princess Cruises Caribbean Princess Coral Princess Crown Princess Diamond Princess Discovery Princess Emerald Princess Enchanted Princess Grand Princess Island Princess Majestic Princess Regal Princess Royal Princess Ruby Princess Sapphire Princess Sky Princess Sun Princess due 2024 Star Princess due 2025 Seabourn Cruise Line edit Main article Seabourn Cruise Line Seabourn Encore Seabourn Odyssey until August 2024 Seabourn Ovation Seabourn Pursuit Seabourn Quest Seabourn Sojourn Seabourn Venture Former brands edit A Rosa Cruises Established by P amp O Princess in 2001 sold following the Carnival merger in 2003 Fathom Established by the Carnival Corporation in 2015 Ended cruise operations in 2017 Its functions were reduced to operating as a tour group until the end of 2018 Fiesta Marina Cruises Established by Carnival Corp in 1993 liquidated in 1994 The sole ship was sold to the Epirotiki Line Ibero Cruises Established by Carnival Corp in 2003 liquidated in 2014 with ships transferred to Costa Cruises and Cruise amp Maritime Voyages Ocean Village Established by P amp O Princess in 2003 liquidated in 2010 with ship transferred to P amp O Cruises Australia Swan Hellenic P amp O Princess subsidiary since 1983 liquidated in 2007 with ship transferred to Princess Cruises Windstar Cruises Carnival subsidiary since 1989 sold to Ambassadors International in 2007 Violations of environmental laws editIn 2002 the Carnival Corporation pleaded guilty in United States District Court in Miami to criminal charges related to falsifying records of the oil contaminated bilge water that six of its ships dumped into the sea from 1996 through 2001 The Carnival Corporation was ordered to pay 18 million in fines and perform community service received five years probation and must submit to a court supervised worldwide environmental compliance program for each of its cruise ships 55 For dumping oiled waste into the seas and lying to cover it up Princess Cruise Lines was fined 40 million in 2016 According to federal authorities it was the largest ever criminal penalty for intentional vessel pollution Officials said that these practices began in 2005 and persisted until August 2013 when a newly hired engineer blew the whistle As part of its plea agreement ships of the parent company Carnival Cruise lines were subjected to a court supervised environmental compliance plan for five years 56 For violation of the probation terms of 2016 Carnival and its Princess line were ordered to pay an additional 20 million penalty in 2019 The new violations included discharging plastic into waters in the Bahamas falsifying records and interfering with court supervision 57 Notable former ships edit nbsp Costa Concordia after sinkingCarnival has had various notable ships in the past including Pacific Princess Princess Cruises Became famous for appearing in the romantic comedy anthology TV series The Love Boat and was featured in nearly every episode She sailed for Princess Cruises from 1975 to 2002 58 Queen Elizabeth 2 Cunard Line The flagship of Cunard Line when acquired by Carnival Corporation She was sold to Istithmar World in 2008 59 Rotterdam Holland America Line The flagship of Holland America Line for 40 years She was sold to Premier Cruises in 1997 and renamed Rembrandt She currently operates under her original name as a floating hotel and museum in Rotterdam Netherlands 60 Costa Concordia Costa Cruises Struck a rock and sank off the coast of Isola del Giglio Italy in 2012 in the Costa Concordia disaster 61 32 passengers and crew members were killed along with 1 salvage operator while 64 other people were injured 61 Adonia Fathom and P amp O Cruises First cruise ship to sail to Cuba from the United States mainland since the United States embargo against Cuba over 40 years ago 62 She was sold to Azamara Club Cruises in 2018 and renamed Azamara Pursuit 63 Oriana P amp O Cruises The first cruise ship commissioned for the UK market 64 She was sold to Astro Ocean in 2019 and renamed Piano Land 65 References edit Mission amp History Carnival Corporation amp PLC Carnival Corporation amp PLC Archived from the original on August 29 2018 Retrieved July 21 2015 a b c d Carnival cruises towards P amp O deal BBC October 25 2002 Retrieved August 27 2019 a b c d e f g h Corporate Timeline Carnival Corporation amp plc Carnival Corporation amp plc Archived from the original on December 4 2015 Retrieved July 21 2015 a b Our Brands Carnival Corporation amp plc Retrieved March 14 2023 a b c d e Form 10 K 2023 Carnival Corporation amp plc Retrieved February 12 2024 Corporate Information Carnival Corporation amp plc Retrieved February 12 2024 Investor FAQs Carnival Corporation amp plc www carnivalcorp com Retrieved February 5 2022 FTSE UK Index Series Quarterly Review June 2020 June 3 2020 Archived from the original on June 3 2020 Retrieved June 20 2020 Articles of Incorporation of Carnival Corporation Carnival Corporation amp plc Retrieved March 24 2020 About Us Carnival Corporation amp plc Retrieved February 14 2020 Our world headquarters are located at 3655 NW 87th Avenue Miami FL 33178 U S A Note that the city name specified is Miami Florida but the headquarters is actually in the Doral CDP as seen in the 2010 U S Census maps from the U S Census Bureau of Doral Index Map and Page 4 Please note that U S postal address city names do not always adhere to municipal boundaries see the postal address portion this page for further information SEC Filing Carnival Corporation amp plc Carnival Corporation amp plc Retrieved March 9 2020 P amp O warns of difficult cruise market ahead of demerger The Independent September 26 2000 Retrieved March 20 2016 P amp O Establishes Leading Position in German Cruise Market Business Wire September 29 1999 Archived from the original on June 22 2018 Retrieved March 20 2016 Ocean Village say final goodbyes Cruise Line Archived from the original on June 22 2018 Retrieved March 20 2016 Commission clears Carnival s takeover bid for P amp O Princess European Commission July 24 2002 Retrieved March 20 2016 P amp O Merger with Royal Caribbean is Off Cruise Critic October 25 2002 Retrieved March 20 2016 Carnival Sells Windstar Cruise Critic February 22 2007 Retrieved March 20 2016 Carnival PLC to sell Swan Hellenic to Lord Stirling World of Cruising March 17 2007 Archived from the original on April 6 2016 Retrieved March 20 2016 a b China firms Carnival Corp form JV to launch Chinese cruise line Reuters October 21 2015 Retrieved November 8 2018 Costa Atlantica and Mediterranea Sold to New Chinese Brand Cruise Industry News November 6 2018 Retrieved November 8 2018 Staff CIN March 12 2018 Carnival Corp To Develop Port in Sasebo Japan Retrieved March 13 2018 Carnival Buys Port and Railroad in Alaska for Cruise Excursions cruisefe ver net June 12 2018 Retrieved July 9 2018 Carnival selling 18 cruise ships amid financial struggles and U S Canada no sail orders National Post per Washington Post September 17 2020 Retrieved September 16 2020 Fifty five passengers died of COVID 19 on Carnival operated ships during the early days of the pandemic according to the Centers for Disease Control and Prevention a b Carnival selling 18 cruise ships amid financial struggles and U S Canada no sail orders National Post per Washington Post September 17 2020 Retrieved September 16 2020 The company said it has raised 12 billion since March despite being out of operation but had a net loss of 2 9 billion for the third quarter of 2020 Carnival Corp to Further Downsize Fleet Disposing of 18 Ships Travel Pulse September 15 2020 Retrieved September 16 2020 The filing reported a U S GAAP net loss of 2 9 billion for the quarter ending Aug 31 and an adjusted net loss of 1 7 billion CRUISE NEWSCarnival Corp Sells More Cruise Ships Cruise Radio September 15 2020 Retrieved September 16 2020 Carnival Cruise Line one of the brands under the Carnival Corporate umbrella still plans to begin sailing in November Carnival to ditch 18 ships in total as U S cruises remain banned amid COVID 19 pandemic Miami Herald September 15 2020 Retrieved September 16 2020 The company is also slowing down the delivery schedule of its new ships To cruise or not to cruise Loyalists face a dilemma LA Times September 10 2020 Retrieved September 16 2020 Currently the voluntary suspension of cruising only involves sailings departing from or calling on U S ports of call Some CLIA members like Avalon Waterways that have no U S based operations are electing to follow CLIA s lead in cancelling voyages through October 31 Carnival Cruise boss banks on safety measures BBC News November 20 2020 Retrieved November 21 2020 Carnival Releases Big Update More Ships Being Offloaded Cruise Hive January 11 2021 Retrieved January 11 2021 Carnival Sees Full Fleet Sailing by Spring Later Than Hoped Bloomberg June 24 2021 Retrieved June 30 2021 Kalosh Anne June 1 2023 Carnival Corp restructures around six operating units with a new role for Jan Swartz Seatrade Cruise News Retrieved June 12 2023 China firms Carnival Corp form JV to launch Chinese cruise line Reuters October 21 2015 Retrieved November 8 2018 Cruise company buys White Pass amp Yukon railway Railway Gazette International June 7 2018 Carnival Corp buys Alaska heritage railroad Railway Age June 15 2018 a b c AIDA Cruises Castles of the Seas Retrieved March 20 2016 Carnival Cruise Line Orders New Ship for 2027 Delivery February 13 2024 a b c Costa Line The Ships List Retrieved March 20 2016 a b Carnival and Airtours Agree To Acquire Costa Crociere Wall Street Journal December 20 1996 Retrieved March 20 2016 Costa captain gets 16 year sentence February 11 2015 Retrieved January 12 2020 Langley John G 2006 Steam Lion Nimbus Gibbs Charles Robert Vernon 1957 Passenger Liners of the Western Ocean A Record of Atlantic Steam and Motor Passenger Vessels from 1838 to the Present Day John De Graff pp 52 92 The Red Baron of Bearsden Milngavie Herald December 14 2006 Archived from the original on February 12 2009 Retrieved February 17 2010 Gibbs Charles Robert Vernon 1957 Passenger Liners of the Western Ocean A Record of Atlantic Steam and Motor Passenger Vessels from 1838 to the Present Day John De Graff pp 52 92 Kvaerner Is Close to Bidding for Troubled Group Lifeline for Trafalgar House International Herald Tribune February 8 1996 Retrieved March 20 2016 Carnival in 500 million deal to buy Cunard New York Times April 4 1998 Mathisen Oivind October 14 2004 A Ship For The Sea Cruise Industry News Quarterly Magazine Winter 2003 2004 Cruise Industry News Archived from the original on September 13 2021 Retrieved October 26 2013 a b c Holland America Line Cruise line history Retrieved March 20 2016 From Liners to Leisure P amp O Heritage Retrieved July 26 2019 History of Our Fleet P amp O Cruises Australia Archived from the original on July 27 2019 Retrieved September 28 2019 Coulter Adam December 21 2017 P amp O Cruises History Cruise Critic Retrieved July 27 2019 History of P amp O P amp O Cruises Australia Archived from the original on October 6 2019 Retrieved July 27 2019 Bennett Neil July 23 2000 P amp O reshapes cruise float Telegraph Archived from the original on January 12 2022 Retrieved July 27 2019 P amp O Cruises Iglu Cruises Retrieved July 1 2018 Travel Advisory Correspondent s Report For Cruise Ships A History of Pollution New York Times June 16 2002 Retrieved June 7 2019 Princess Cruise Lines to Pay 40 Million Fine for Illegal Dumping New York Times December 2 2016 Retrieved June 7 2019 Carnival Cruises to Pay 20 Million in Pollution and Cover Up Case New York Times June 4 2019 Retrieved June 7 2019 Report Love Boat cruise ship sold for scrap FoxNews com March 9 2012 Retrieved March 13 2012 QE2 Retrieved October 21 2010 Goossens Reuben SS Rotterdam Retrieved January 18 2020 a b Costa Concordia reaches end of final voyage CNN com CNN Retrieved October 21 2014 Davies Phil November 24 2016 Fathom to lose only ship as Adonia rejoins P amp O fleet Travel Weekly Retrieved August 24 2019 P amp O Respond And Apologise To Guests After News Of Selling Ship Cruise September 27 2017 Retrieved July 1 2018 P amp O Oriana Cruise Ship Ship Technology Retrieved August 23 2019 Astro Ocean Takes Over Piano Land as Ship Sails for China Cruise Industry News August 17 2019 Retrieved August 24 2019 External links editCarnival Corporation website Business data for Carnival Corporation amp plc GoogleSEC filingsYahoo Portals nbsp England nbsp Companies Retrieved from https en wikipedia org w index php title Carnival Corporation 26 plc amp oldid 1207016259, wikipedia, wiki, book, books, library,

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