Drag Race Cars

4 responses so far ↓

• Toldja!

  Sep 22, 2010 at 6:23 am

  

  CarnivalCorp. CEO Arison: Fuel can be albatross for new orders
  1st. July,2008
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  Fuel spouting over $140 a barrel has sent cruise stocks tumbling in recent days!
  The market is ‘extremely sensitive right now to fuel,’ acknowledged Micky Arison, chairman and ceo of Carnival Corp. & plc.
  ‘We’re not alone,’ he added.
  ‘We’re crying with a lot of companies right now.’

  A recent business-news ranking comparing corporate valuations to General Motors put Carnival at three times the value of the automotive giant.
  ‘While we’re getting hammered, it’s not any worse than others,’ Arison told reporters on board Holland America’s new Eurodam.

  But he warned that if current conditions continue for an extended period, future capacity growth will slow.

  ‘The cost for the dollar brands to build in Europe and the operating profit based on $140 fuel
  means the returns are not higher than the cost of capital right now,’ Arison said.
  If today’s scenario holds, ‘it is likely you will see a slowdown in newbuilds after 2011.’

  Carnival Dream and Magic were the last contracts inked by Carnival. That was one year ago.
  Meanwhile, the company is taking a very high pace of deliveries for orders placed three or four years ago, particularly for European-sourced brands.

  However, Arison cautioned that even the sterling- and euro-denominated lines face steeper capital costs due to the skyrocketing price of shipbuilding components, on top of fuel. ‘The margins are starting to narrow,’ the Carnival chief said.

  It’s hard to put today’s dynamics into a historical context.
  During the gas lines of the 1970s in the United States,
  Carnival was just a two-ship entity.
  Now it’s 88 vessels strong,
  with a global portfolio of brands.

  ‘We were very U.S.-centric.
  Now we’re global.
  While times were as difficult or more difficult than today, having to deal with these issues globally is much more complicated for us,’ Arison noted.

  Each brand faces its own challenges.
  On the corporate level, he added, the dynamics are ‘intriguing.’

  —————————–
  Same factors apply to Royal Caribbean Int'l. no doubt.
• Marisa C

  Sep 29, 2010 at 1:48 am

  

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• Marisa C

  Jun 1, 2011 at 12:30 pm

  

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• Marisa C

  Jun 23, 2011 at 3:51 am

  

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