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.
Mega-Cruise Ships have been heralded by many as triumphs in engineering but others are less pleased by their arrival. The current heavy weight contender in the category is the Oasis Of The Sea, a vessel capable of carrying over 6,000 passengers in her 1,187′ long hull. But a vessel of this size draws 31′ of water making her too large for many ports. Even if she was able to shed a few pounds port visits would still be limited by the lines ability to book a constantly high level of reservations, a feat only a handful of ports can pull off. The AP tells us:
The Delaware River Port Authority says bigger ships and lower interest have led to fewer departures out of Philadelphia’s Navy Yard terminal. Only two cruises are scheduled to depart out of Philadelphia next year, down from more than 30 a few years ago.
The authority’s executive committee approved a plan Wednesday to end the terminal lease on January 1. The Philadelphia Inquirer reports the agency would save $18 million in renovation costs by ending cruises.
The full board is expected to give the plan final approval later this month. The two departures scheduled for 2011 would still be honored. Read More…
Updated: May 2, 2011 (Originally published December 3, 2010)
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