Carnival Slashes Profit Outlook as Iran War Sends Fuel Costs Soaring
Carnival Corp cut its annual profit forecast on Friday, as higher fuel costs pressure the cruise operator's margins amid rising geopolitical tensions.
The salvage plan calls for the ship to be pulled upright onto a platform and refloated using sponsons. Image: Titan/Micoperi
Officials in Italy on Friday decided that the Costa Concordia will be towed to the Port of Piombino in Tuscany for disassembly after being re-floated this fall.

The Associated Press reports that Piombino was selected due to its proximity to the wreck site, and because it is the most economically and environmentally sound choice.
The Costa Concordia will be refloated in one piece with the help of 30 steel sponsons attached to both sides of the ship and filled with air.
The ship is expected to be moved in September, although the AP report says that ongoing construction at the port could delay the removal until sometime in early 2014.
The latest update from the project’s website said that the first sea bottom platforms used to secure the ship upright were installed in February. The salvage is being carried out by the Italian-American Titan-Micoperi consortium.
Related: Photo Tour of Costa Concordia Salvage Plan
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