Last week, a massive cargo vessel hit and collapsed Baltimore's Francis Scott Key Bridge, which temporarily closed that U.S. East Coast port. So, Carnival Cruise Line temporarily shifted voyages that embark/debark guests at Baltimore to Norfolk, VA. Parent company Carnival Corporation reported that the situation could result in an estimated hit of up to $10 million on its adjusted net income for full year 2024. In addition, Royal Caribbean International temporarily adjusted its Baltimore cruise schedules until the port reopens.
First Quarter 2024: Loss Narrows
In financial news, Carnival Corporation reported record first quarter 2024 revenues of $5.4 billion with record net yields and record per diems; both significantly exceeded 2023 levels. The company posted a U.S. GAAP net loss of $214 million and adjusted net loss of $180 million, but that performance was better than the December 2023 guidance to financial analysts.
Calling it “a fantastic start to the year,” Josh Weinstein, the company’s CEO, said: “We delivered another strong quarter that outperformed guidance on every measure, while concluding a monumental Wave Season that achieved all-time high booking volumes at considerably higher prices.
Other earnings report highlights? The company ended the quarter with $5.2 billion of liquidity. It also ordered its first new ships in five years; those two Excel-class ships for Carnival Cruise Line are slated for delivery in 2027 and 2028. Onboard revenue spending per guest was also much higher than in 2023 for the cruise company’s North America, Australia and Europe segments.
Total customer deposits reached a first quarter record of $7 billion, compared with the previous quarterly record of $5.7 billion for late February 2023. Carnival Corporation also said its booked position for the remainder of the year continues to be the best on record with both pricing and occupancy considerably higher than 2023.
More Cruise News
Norwegian Cruise Line has announced select cancelations for seven ships in 2025, citing redeployment moves, charters and a dry dock. The line is communicating the changes to travel advisors and guests. Cruise Hive, an online cruise news blog, provides a complete ship-by-ship look at the cancelations.
Celestyal Cruises debuted its newest ship, the 1,266-guest Celestyal Discovery. In addition, citing “unprecedented demand and early bookings,” Celestyal increased the number of Celestyal Journey’s “Heavenly Adriatic” and “Desert Days” cruises; plus, it added new three- and four-night variations of that ship’s Arabian Gulf deployment.
Several lines have named experts or guest chefs to sail on their future voyages. For example, Hurtigruten has appointed Tom Kerss, an esteemed Northern Lights astronomer, as the world's first "chief aurora chaser," while Windstar Cruises announced its James Beard guest chefs for 2025 voyages. In addition, Paul Gauguin Cruises has announced its expert-led cruises for 2025.
For clients who’d love an exotic, far-flung voyage across the globe, Oceania Cruises is offering a complimentary, one-night, pre-cruise hotel stay for 33 select voyages in 2024 and 2025. Sister publication Luxury Travel Advisor also reported that Regent Seven Seas Cruises has launched a new travel advisor sweepstakes and that Seven Seas Splendor will operate Regent Seven Seas’ 2027 World Cruise.
More Itinerary News
On the itinerary side, Seabourn released its 2025-2026 schedule of voyages. Many luxury river lines are sailing in Egypt with new options for travelers seeking a Nile River vacation. In addition, Four Seasons Yachts provided a preview of 10 inaugural season itineraries.
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