Carnival to Dump Six Ships

[Cathygh]

22 hours ago, Josy1953 said:

 I also liked Jane and can't imagine that Ms Calman will be as good.  We are not thinking about cruising for the time being, just hoping that there will soon be a vaccine otherwise it will be UK holidays for us.  We have cancelled this year's cruises and will make decisions for next year at balance due times.

I am feeling quite depressed tonight and have resorted to opening a bottle of wine because I have had 2 bad news phone calls, the first from a close friend and the second from my niece both telling me that they have been confirmed with breast cancer today.

Tomorrow has to be better.

Oh Josy I am so sorry to hear that. 7 years ago my sister,  my best friend and several others (17 in total) were all diagnosed. Every one of those women, including a 34 year old with stage 4 are alive, fit and well today.  I do hope they make a good recovery

Regards

Cathy

[grapau27]

4 hours ago, DamianG said:

 

So sorry to hear this, my sister-in-law had the same diagnosis so our family has lived through the experience over the last 2 years. Thankfully she is in remission now and hopefully it will stay that way.

Sincere best wishes to your friend, niece and not least yourself.  

Good news she is in remission.

Paulines late dad was in remission for 11 years with prostate cancer.

[grapau27]

22 minutes ago, Cathygh said:

Oh Josy I am so sorry to hear that. 7 years ago my sister,  my best friend and several others (17 in total) were all diagnosed. Every one of those women, including a 34 year old with stage 4 are alive, fit and well today.  I do hope they make a good recovery

Regards

Cathy

That is fantastic news they are all still here.

[happy v]

On 7/13/2020 at 9:36 PM, Josy1953 said:

 I also liked Jane and can't imagine that Ms Calman will be as good.  We are not thinking about cruising for the time being, just hoping that there will soon be a vaccine otherwise it will be UK holidays for us.  We have cancelled this year's cruises and will make decisions for next year at balance due times.

I am feeling quite depressed tonight and have resorted to opening a bottle of wine because I have had 2 bad news phone calls, the first from a close friend and the second from my niece both telling me that they have been confirmed with breast cancer today.

Tomorrow has to be better.

Sorry about that Josy. I hope things improve for you.

[brian1]

13 hours ago, Britboys said:

 

Personally, I would prefer Coral, which I sailed on last year in Alaska. At least she still has her Universe Lounge. On Island, this has been replaced by additional cabins and a fitness centre. Many Princess afficionados felt this was a retrograde step.

You just beat me to it on that comment Andrew.The other thing is that they are both panamax ships,the only ones that can do a full Panama canal transit in the old locks.We did a repo on the Coral from Alaska to Florida,fantastic.

[pete14]

12 hours ago, Presto2 said:

 

This made us laugh. There is no harm in looking !!!! You know, perhaps, just if, maybe ?!!!!

We can still afford a little 'treat' now and again 😉

On a different note, the caravan is right by the sea so she could turn in to a ship at any time !!!!!!!!!!!!

Every high tide?

[wowzz]

17 hours ago, Britboys said:

 

Personally, I would prefer Coral, which I sailed on last year in Alaska. At least she still has her Universe Lounge. On Island, this has been replaced by additional cabins and a fitness centre. Many Princess afficionados felt this was a retrograde step.

We did a Panama transit on the Island shortly after her refit when the extra cabins were added. As we had never been on her before, we cannot comment on the before and after comparisons,  but we had a great cruise and loved the ship. The one downside for us was that post refit, you could not do a complete lap of the prom deck, you had to cut through the lobby at the rear. Not really a deal breaker.

One of the great things for us was the mix of pax. In the time we were on, I think we only met about 12 other Brits - everyone else were from Oz, NZ, US or Canada. 

[mercury7289]

HaveWeMetYet posted on the Carnival Cruise line board 14/7 2020 at 10.24

 

Carnival back in debt market this morning.

 

Looking to raise another $1Billion currently  10.5-11%.

 

I thought someone said cash all okay for 12 months?

 

 

[Captain_Morgan]

https://www.tradewindsnews.com/cruise-and-ferry/carnival-to-sell-one-costa-cruises-two-holland-ships/2-1-842327?fbclid=IwAR00JpXnbOnlv9TK0X7J6m2fj9pZAXDZqCWfLiSzun00i3BQNmLSgpZljCM

[mercury7289]

2 minutes ago, Captain_Morgan said:

https://www.tradewindsnews.com/cruise-and-ferry/carnival-to-sell-one-costa-cruises-two-holland-ships/2-1-842327?fbclid=IwAR00JpXnbOnlv9TK0X7J6m2fj9pZAXDZqCWfLiSzun00i3BQNmLSgpZljCM

Thank you!

[tring]

2 hours ago, mercury7289 said:

HaveWeMetYet posted on the Carnival Cruise line board 14/7 2020 at 10.24

 

Carnival back in debt market this morning.

 

Looking to raise another $1Billion currently  10.5-11%.

 

I thought someone said cash all okay for 12 months?

 

 

Part of that was the chance to take on further loans if required.  The second report, posted by molecrochip after the meeting on Friday, said they would be OK until November 2021, even if no sailings in that time.  Carnival shares went up a bit after the meeting and continued the small rise in the US after our markets closed, so those who understand it all must think they will be OK.

 

Basically looking like they will certainly weather this storm, which is more than can be said for CMV, sadly, as they are in the news again - still trying to get funding apparently.

Edited July 15, 2020 by tring

[mercury7289]

3 hours ago, tring said:

Part of that was the chance to take on further loans if required.  The second report, posted by molecrochip after the meeting on Friday, said they would be OK until November 2021, even if no sailings in that time.  Carnival shares went up a bit after the meeting and continued the small rise in the US after our markets closed, so those who understand it all must think they will be OK.

 

Basically looking like they will certainly weather this storm, which is more than can be said for CMV, sadly, as they are in the news again - still trying to get funding apparently.

Just somewhat confused,

molecrochips posted report was on the 10th July, said they would be okay until November 2021

HaveWeMetYet was referring to activities on the 14th July. looking for a further $1billion

[Adawn47]

2 hours ago, mercury7289 said:

Just somewhat confused,

molecrochips posted report was on the 10th July, said they would be okay until November 2021

HaveWeMetYet was referring to activities on the 14th July. looking for a further $1billion

You're correct mercury, I've just been reading about it tonight on FT online. There's  a full report about it.

Avril 

[Jack McGowan]

Confirmed that Amsterdam, Maasdam, Rotterdam and Veendam will be leaving the HAL fleet this year. 
 

https://www.hollandamerica.com/blog/topics/news/four-ships-to-leave-the-holland-america-line-fleet-in-2020/

[molecrochip]

The comments made by an analyst seem sensible. The call did suggest that they had options for further finance if they wanted to tap them.
 

“It’s a ‘finance while you can, not when you have to’ mentality,” said Ben Burton, head of US leveraged finance syndicate at Barclays. “It’s an effort to establish a sufficiently long runway so they have the capital to withstand a longer period of close to zero revenue.”

[molecrochip]

Previously reported in accounts

Costa Atlantica - sold to China JV, planned departure

Costa Mediterranea - sold to China JV, early departure

Pacific Aria - sold to CMV, early departure

Pacific Dawn - sold to CMV, early departure

 

Confirmed

Costa Victoria - sold for scrap

MV Oceana - sold to Greek buyers for charter to Chinese Market.

MS Maasdam - sold with MS Veendam

MS Veendam - sold with MS Maasdam
MS Amsterdam - sold with MS Rotterdam to Fred Olsen on credit

MS Rotterdam - sold with MS Amsterdam to Fred Olsen on credit

 

Very Likely

Carnival Fantasy - sold for scrap

Carnival Inspiration - sold for scrap

Costa neoRomantica

Expecting two more as now been confirmed that the two ships transferred to the Chinese JV weren’t included in the 13.

 

Safe in 2020

Remaining P&O, Cunard, HAL ships plus Island Princess.

Edited July 15, 2020 by molecrochip

[Britboys]

23 minutes ago, molecrochip said:

Previously reported in accounts

Costa Atlantica - sold to China JV, planned departure

Costa Mediterranea - sold to China JV, early departure

Pacific Aria - sold to CMV, early departure

Pacific Dawn - sold to CMV, early departure

 

Confirmed

Costa Victoria - sold for scrap

MV Oceana - sold to Greek buyers for charter to Chinese Market.

MS Maasdam - sold with MS Veendam

MS Veendam - sold with MS Maasdam
MS Amsterdam - sold with MS Rotterdam to Fred Olsen on credit

MS Rotterdam - sold with MS Amsterdam to Fred Olsen on credit

 

Very Likely

Carnival Fantasy - sold for scrap

Carnival Inspiration - sold for scrap

Costa neoRomantica

Expecting two more as now been confirmed that the two ships transferred to the Chinese JV weren’t included in the 13.

 

Safe in 2020

Remaining P&O, Cunard, HAL ships plus Island Princess.

Wow - Rotterdam & Amsterdam to Fred Olsen? If they plan to operate them ex-UK, that will definitely up the competition with P&O in the smaller ship market!

[Jack McGowan]

31 minutes ago, molecrochip said:

MS Maasdam - sold with MS Veendam

MS Veendam - sold with MS Maasdam
MS Amsterdam - sold with MS Rotterdam to Fred Olsen on credit

MS Rotterdam - sold with MS Amsterdam to Fred Olsen on credit

Wow really to Fred Olsen? Where did this come from 😮, I wonder where Maasdam & Veendam will be going. I’ve seen some speculation around Azamara

[mercury7289]

1 hour ago, molecrochip said:

The comments made by an analyst seem sensible. The call did suggest that they had options for further finance if they wanted to tap them.
 

“It’s a ‘finance while you can, not when you have to’ mentality,” said Ben Burton, head of US leveraged finance syndicate at Barclays. “It’s an effort to establish a sufficiently long runway so they have the capital to withstand a longer period of close to zero revenue.”

Is that the same Bull-S---? over here?

Edited July 15, 2020 by mercury7289

[molecrochip]

8 minutes ago, Jack McGowan said:

Wow really to Fred Olsen? Where did this come from 😮, I wonder where Maasdam & Veendam will be going. I’ve seen some speculation around Azamara

CMV have one of the same class in service and one due to transfer from P&O Australia. I can't see they have the money to take another two unless this allows them to save a packet by running four identical ships. That said, the ones sold to Fred were done so on buy now pay later terms - usually a bare boat charter arrangement where ownership passes at the end of the fixed period.

 

That said, I wonder if they could be headed to CMV as that would make three ships that they have to pay Carnival for with finance being provided by Carnival. If CMV are in trouble, there is a small possibility of Carnival acquiring CMV for next to nothing. That could then become their own Azamara.

 

The rumors of Carnival acquiring CMV don't go away. And Carnival did raise an additional $1.3bn yesterday.

Edited July 15, 2020 by molecrochip

[molecrochip]

1 minute ago, mercury7289 said:

Is that the same as Bull-S---?

No, at the moment the balance sheet is fairly healthy due to the £7bn of cash. This together with ship values counters the debt. So actually, not to risky an investment.

 

If in a year, the cash is gone, then it balance sheet will look appalling and no one will want to lend money - not at 10.5% anyway. More like 15%.

[showingdiva]

5 minutes ago, molecrochip said:

CMV have one of the same class in service and one due to transfer from P&O Australia. I can't see they have the money to take another two unless this allows them to save a packet by running four identical ships. That said, the ones sold to Fred were done so on buy now pay later terms - usually a bare boat charter arrangement where ownership passes at the end of the fixed period.

 

That said, I wonder if they could be headed to CMV as that would make three ships that they have to pay Carnival for with finance being provided by Carnival. If CMV are in trouble, there is a small possibility of Carnival acquiring CMV for next to nothing. That could then become their own Azamara.

 

The rumors of Carnival acquiring CMV don't go away. And Carnival did raise an additional $1.3bn yesterday.

 

Rotterdam and Amsterdam to be renamed "Borealis" and "Bolette" respectively.  Transfer September 2020.

 

[Britboys]

Found this link over on the Fred Olsen board!

 

https://www.bonheur.no/latest-news1?SelectedRelease=http://publish.ne.cision.com/Release/GetDetail/7CDB812CA7F9D5C5

 

[Jack McGowan]

14 minutes ago, molecrochip said:

CMV have one of the same class in service and one due to transfer from P&O Australia. I can't see they have the money to take another two unless this allows them to save a packet by running four identical ships. That said, the ones sold to Fred were done so on buy now pay later terms - usually a bare boat charter arrangement where ownership passes at the end of the fixed period.

 

That said, I wonder if they could be headed to CMV as that would make three ships that they have to pay Carnival for with finance being provided by Carnival. If CMV are in trouble, there is a small possibility of Carnival acquiring CMV for next to nothing. That could then become their own Azamara.

 

The rumors of Carnival acquiring CMV don't go away. And Carnival did raise an additional $1.3bn yesterday.

Thanks, it would certainly be interesting if Carnival took over CMV and would also make a cruise line to move their oldest ships too 😉. Agreed, the rumours have been going around about this for a while now and don’t seem to have calmed. 
 

I just wonder what the other ships that leave Carnival will be, except those that you have mentioned. I’m thinking it will either be other Fantasy class ships or maybe some older tonnage from AIDA/Princess. 
 

Sorry, haven’t been keeping up to date with this thread as much as I’d have liked lately, why would island princess be safer than others?
 

 

[mercury7289]

7 minutes ago, Britboys said:

Found this link over on the Fred Olsen board!

 

https://www.bonheur.no/latest-news1?SelectedRelease=http://publish.ne.cision.com/Release/GetDetail/7CDB812CA7F9D5C5

 

Very positive statement of intent from Fred!

Edited July 15, 2020 by mercury7289