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Carnival Corporation & plc Announces Four-Ship Deal With Italian Shipbuilder Fincantieri Worth More Than $2 Billion

MIAMI, Dec. 14 /PRNewswire-FirstCall/ -- Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) today announced it has reached an agreement with Italian shipbuilder Fincantieri for the construction of four new cruise ships worth more than $2 billion.

The agreement calls for the construction of four new vessels, one each for Holland America Line, Carnival Cruise Lines, Princess Cruises and Costa Crociere, along with options for two additional vessels, one each for Carnival Cruise Lines and Holland America Line.

The four new ships will add a collective 11,756 lower berths to the cruise operator's fleet. Two of the orders have been placed in U.S. dollars and two others are in euros.

According to Carnival Corporation & plc Chairman and CEO Micky Arison, the agreement extends Carnival Corporation & plc's newbuilding program through 2009 while enabling the company to execute its strategy of expanding its North American and European brands.

"Fincantieri constructs some of the world's most beautiful and technically advanced ships and this agreement enables us to expand our core North American and European brands at very competitive prices considering today's unfavorable U.S. dollar/euro ratio," he said.

The new ships and options include:

* A 2,044-passenger ship which will be the largest ever constructed for North American premium operator Holland America Line. With an estimated all-in cost of $450 million, the 86,000-ton Panamax vessel will be built at Fincantieri's Marghera shipyard. The ship is expected to enter service in summer 2008. There is also an option for a sister ship scheduled to debut in spring 2010.

* A 3,100-passenger ship for North American premium brand Princess Cruises set to debut in fall 2008. A sister to the Emerald Princess, the 116,000-ton vessel will be built at Fincantieri's Monfalcone shipyard at an approximate all-in cost of $570 million.

* A 3,608-passenger cruise ship for Carnival Cruise Lines representing the largest vessel ever constructed for the contemporary North American operator. The 130,000-ton vessel, to be built at Fincantieri's Monfalcone shipyard at an estimated all-in cost of 560 million euro, is expected to enter service in fall 2009. There is also an option for a sister ship scheduled to enter service in summer 2010.

* A 3,004-passenger ship for Genoa, Italy-based Costa Crociere expected to debut in summer 2009. A sister ship to the Costa Concordia, the 112,000-ton vessel will have an estimated all-in cost of 485 million euro and will be built at Fincantieri's Sestri shipyard.

Including the four new vessels, Carnival Corporation & plc's capacity growth for 2008 and 2009 is now expected to be 8.2 percent and 6.4 percent, respectively. The company's order book now includes 16 new ships, 13 of which are being constructed by Fincantieri.


( I wonder about the 130,000 GRT Carnival vessel--is she to be a new design or simply a "Conquest-Class" vessel on steroids?)

Also interesting to know whether the new HAL vessel is a Vista-class with more berth or a new design...

Found this a bit amusing:

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"Fincantieri constructs some of the world's most beautiful and technically advanced ships

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Originally posted by Waynaro:
Interesting. I also wonder if the 130,000grt ship is a Conquest-class on steroids. I hope not!

Also interesting to know whether the new HAL vessel is a Vista-class with more berth or a new design...

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I'm wondering the same thing. Since I have not heard of Carnival working on any brand new designs (except Pinnacle), I'm going to assume it's another version of the DESTINY/CONQUEST Class. If true, this will make the fifth generation of this basic design. This design is so past it's prime but Carnival will milk it even more.

On the HAL front, I'm thinking it's the same Vista design with the Cunard changes (except maybe the strengthened hull) incorporated. This means a slightly longer Vista with more capacity. Again, I don't think Carnival has come up with a completely new design for HAL, but I could be wrong. I know HAL wanted a new design (something in size between a Vista and Statendam Class) but apparently this is not the case.

All in all, if what I'm thinking is true ... not very exciting news at all. Just more of the same but with changes that will enable these designs to carry even more passengers and of course generate additional revenue. I'm not sure any of it is good for the passenger.

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Originally posted by Malcolm @ cruisepage:
Wow...when will it all end? Small ship fans will be very disappointed.

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This just means that now, more than ever, people must pay a high premium for the luxury of cruising on small ships, which (at least in North America) are the domain of the ultra-luxury cruise lines.

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Originally posted by Waynaro:
[....] IMO the Conquest and Caribbean-class ships are some of the world's most ugliest beast.

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Think again.

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Originally posted by Linerrich:
It looks like one addition after another simply stuck onto whatever original vessel there was!

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.................one each for Holland America Line, Carnival Cruise Lines, Princess Cruises and Costa Crociere, along with options for two additional vessels, one each for Carnival Cruise Lines and Holland America Line.

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<yawn>. Why do they still bother with the pretence of individual lines if they all have the same ships. Name the whole lot Mickey Cruise Lines and fight it out with Disney

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Originally posted by PamM:
yawn; Why do they still bother with the pretence of individual lines if they all have the same ships.

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Because you really can fool most of the people most of the time!

Just wait to Cunard get their 'Vista'. Even Cunard 'nuts' will be drewling at her dark hull and QE2 style funnel, as she cruises into Southampton waters. They will call her 'a real queen' regarless that another one is berthed nearby, in white.

[ 12-14-2005: Message edited by: Malcolm @ cruisepage ]

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Originally posted by Malcolm @ cruisepage:

Because you really can fool most of the people most of the time!

Just wait to Cunard get their 'Vista'. Even Cunard 'nuts' will be drewling at her dark hull and QE2 style funnel, as she cruises into Southampton waters. They will call her 'a real queen' regarless that another one is berthed nearby, in white.

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So true Malcolm. It seems with a Cunard funnel and name slapped on the side, suddenly a cruise ship becomes a "liner" and all is forgiven. No matter that a clone sailing for P&O or HAL is just a few steps down on the dock. At least the interior layout of QV promises to be different, but time will tell. I remember how disappointed I was when I discovered that Carnival's Spirit Class had the exact same layout as Costa's. Same with HAL's Vista and ARCADIA. I guess we can expect VENTURA to have the same layout as the Princess clones. No imagination.

I often wonder what the reaction would be if QM2 were built for Celebrity Cruises instead of Cunard. The same exact ship but with a Celebrity name and funnel. My guess is the same die-hard Cunard fans that adore and praise QM2 today would have denounced her as a monstrosity and vow "never to sail her". A double-standard if you will.

Don't get me wrong, I personally think QM2 is a fantastic ship (the best in fact) .... but in my case I would think she is fantastic ship regardless of the logo she sails under.

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Originally posted by Maasdam:
I hope that the ship fore Holland America is a new design. Some time ago there was talk fore a whole new design fore HAL. Now i wonder if those rumors are true.

Greetings Ben.

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Hi Ben,
I don't think this is it, but I could be wrong. The design I heard HAL was interested in was something in size between the Vista and Statendam Class. This sounds like just another Vista, probably with the Cunard changes incorporated.

I can't imagine HAL spending the money to design a brand new proto-type that ends up being the same size as the current Vista. It just wouldn't make financial sense, and we know Carnival Corp. rarely makes frugal financial decisions.

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Originally posted by eroller:

I can't imagine HAL spending the money to design a brand new proto-type that ends up being the same size as the current Vista. It just wouldn't make financial sense, and we know Carnival Corp. rarely makes frugal financial decisions.

Ernie

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And it's highly doubtful that Carnival Corp. would invest in a totally new design (QM2 was an exception) without this new ship being the platform for several of their cruise brands.

Victoriarcadiadam sounds great.

Best,

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Originally posted by lasuvidaboy:
The best part of HAL getting yet another Vista Class ship is the 'DAM' name it will get. Have'nt they run out of names yet or will it be a totally made up one?? I can hardly wait!

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There are a few names which they haven't recycled: DIDAM (1891), DUBBELDAM (1891), EDAM (1921), LEERDAM (1923), OBDAM (1880), POTSDAM (1900), SCHIEDAM (1874), SPAARDAM (1922), and WERKENDAM (1881).

Maybe it's best if they just invent new names rather than the above!

Arcadia was almost a Cunarder and few people seem very impressed with her decor and layout.

I often wonder what the reaction would be if QM2 were built for Celebrity Cruises instead of Cunard.

I love the QM2 as well. However, I remember thinking that at least some of her appeal is the 'retro-liner' decor and her 'Maritime Quest' exhibition.

If they built a twin of her, but gave her a mass-market decore, a white hull and a non-cunard funnel and through in some down-scale entertainment, she would be a very different ship.

[ 12-14-2005: Message edited by: Malcolm @ cruisepage ]

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Originally posted by eroller:

I'm wondering the same thing. Since I have not heard of Carnival working on any brand new designs (except Pinnacle), I'm going to assume it's another version of the DESTINY/CONQUEST Class. If true, this will make the fifth generation of this basic design. This design is so past it's prime but Carnival will milk it even more.

Ernie

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I can't imagine what this ship will look like if it is a version of the Conquest class. That design is screwed up enough already IMHO. Since Carnival is not making a huge deal over this ship in the press release one has to wonder if this is just another stretched built up version of the Conquest. Does not interest me in the least.

Gordon
http://cruisingator.smugmug.com/

[ 12-14-2005: Message edited by: Atlcruiser ]

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Originally posted by eroller:
I'm going to assume it's another version of the DESTINY/CONQUEST Class. If true, this will make the fifth generation of this basic design.

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Originally posted by Malcolm @ cruisepage:
[QUOTE]

If they built a twin of her, but gave her a mass-market decore, a white hull and a non-cunard funnel and through in some down-scale entertainment, she would be a very different ship.

[ 12-14-2005: Message edited by: Malcolm @ cruisepage ]

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My point was not in building a twin or "mass-market" version of QM2. It was "what if" it were Celebrity that actually built QM2 as their new ship instead of Cunard. The only differences would be the name and funnel. Celebrity is every bit as luxurious as Cunard, if not more so. Anyway, I have a feeling that die-hard Cunard fans would have panned the ship for a variety of reasons were she built as-is for Celebrity.

Not that this would ever happen, just a "what if" scenario to point out the loyalty of some Cunard fans regardless of what the cruise line actually turns out.

As for QV, plenty of people are interested in her. For a Vista Class clone, she gets more than her share of air time here on CT and other lists. I certainly don't read nearly as much about WESTERDAM or NOORDAM ... two other Vista clones.

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Originally posted by eroller:

[...]
I often wonder what the reaction would be if QM2 were built for Celebrity Cruises instead of Cunard. The same exact ship but with a Celebrity name and funnel. My guess is the same die-hard Cunard fans that adore and praise QM2 today would have denounced her as a monstrosity and vow "never to sail her". A double-standard if you will.

Don't get me wrong, I personally think QM2 is a fantastic ship (the best in fact) .... but in my case I would think she is fantastic ship regardless of the logo she sails under.

Ernie

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Originally posted by Ernst:
...and I tought I am alone. Nothing against QM2 - but this is one of the worst examles of our brand oriented society. It is actually a bit anoying that people 'love' her more for her colors than for the ship itself.

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The QM2 is a fine example of branding and in Cunard's case their brand has strong links with nostalgiafor the great era of Ocean Liners.

They have sent me a couple emails from onboard and made it clear that QM2 "is not their favorite ship by a longshot", and also that "this has been their most stressful vacation" whatever that means? They have certainly peaked my curiosity. Two issues they did specifically mention is that the ship is freezing and that the layout is poor. Service so far has been excellent. I'm anxious to hear more!

This is their first time on Cunard and I don't think they are falling under the Cunard "spell" so to speak. In the past they have sailed on Royal Caribbean, Princess, Celebrity, and Holland America so they have experience.

Ernie

[ 12-14-2005: Message edited by: eroller ]