CORP. surpassed the billion-dollar earnings mark during
third-quarter 2004, recording a $1.03 billion profit on revenue of
$3.2 billion for the quarter ending Aug. 31. It marked the first
time the company had eclipsed the billion-dollar mark for a
quarter. Carnival recorded net income of $734 million on revenue of
$2.5 billion during the same period in 2003. Net revenue yields
increased 10.9%; Carnival said the jump was primarily due to higher
cruise ticket prices and onboard revenue and, to a lesser extent,
the weak dollar relative to the euro and the pound. Occupancy for
the quarter was 110.2%, up about a percentage point from
CARNIVALS FOURTH QUARTER, the company said advance booking
levels are higher vs. the prior years levels on a capacity-adjusted
basis, with pricing also ahead of last year. Net revenue yields for
the fourth quarter are expected to grow approximately 7% to 9%
compared with fourth-quarter 2003, despite the negative impact of
DAMAGE over the past few weeks has halted cruise calls to
Grand Cayman, Grenada, Grand Bahama Island and some of the lines
private islands, such as Royal Caribbean Internationals Coco Cay.
The Caribbean Princess was able to call in Montego Bay, Jamaica,
last week, and Carnival Cruise Lines and Royal Caribbean planned to
resume Jamaica calls this week.
SHIPS were moved for Hurricane Ivan, including Carnivals
Holiday, which was rerouted from New Orleans to Galveston, Texas.
Meanwhile, Jeannes path along the eastern end of the Caribbean
affected several ships itineraries. And off of Mexicos Baja
Peninsula, Royal Caribbean International moved the Monarch of the
Seas and the Legend of the Seas to avoid Hurricane Javier, the
Pacific Basins J storm.
CARIBBEAN INTERNATIONALS six Norwegian-flagged ships will
fly the Bahamian flag by early 2005. Parent company Royal Caribbean
Cruises said moving those ships into the Bahamas registry affects
about 400 Royal Caribbean shipboard employees covered by collective
bargaining agreements required by the Norwegian International Ship
Registry, but it said it plans to keep compensation levels for
those employees at or above their current levels for a two-year
transition period. Royal Caribbean Internationals other 13 ships as
well as Celebritys nine vessels already fly the Bahamian flag.