Arison sees start of “resurgence in consumer demand” for Costa

Marine Log
JUNE 22, 2012 – Carnival Corporation & plc revenues continue to be impacted by the Costa Concordia tragedy, but this is being partly offset by improved yields from the cruise giant’s North American brands and now Carnival Chairman and CEO Micky Arison sees a “resurgence in consumer demand for Costa.”

Read More Marinelog
Read MoreNasdaq
Read More Financial Times
Read More New York Times

Costa bookings fall after Concordia disaster

Financial Times
By Robert Wright,
Shipping and Logistics Correspondent Bookings at Costa Cruises, the Carnival Corporation brand that owns the capsized Costa Concordia, fell 80 to 90 per cent on the previous year in the immediate aftermath of January 13’s fatal accident and could take a year to recover, the parent company has said.
Howard Franks, Carnival Corporation’s chief operating officer, gave the figures as the company announced net income was down 91 per cent to $13m for the three months to the end of February, on revenue up 4.8 per cent to $3.58bn. The company excluded from its profit figure a $173m write-off for the value of its Ibero Cruises brand and net unrealised gains on fuel derivatives of $21m.

Read More

Costa crew facing alleged settlement pressure

Financial Times
By Cynthia O’Murchu in London
Crew members who survived the deadly wreck of the Costa Concordia cruise ship in January have felt pressure to accept cash settlements quickly in order to return to their jobs, lawyers advising on possible claims against the ship’s owners have told the Financial Times.Costa Crociere, the Carnival subsidiary that operated the Concordia, and Cruise Ships Catering International, a subsidiary that hired food and beverage workers, have offered crew members a payout for losses that also requires them to forfeit their right to claim psychological and physical distress from the wreck.

Read More

Italy: Cruise ship fallout hits oil and gas producers

Financial Times
Italy’s oil and gas industry – including large international companies – has become an unexpected casualty of the sinking of the Costa Concordia cruise liner. Parliamentarians and industry sources say Mario Monti’s technocratic government has caved in to pressure from environmental lobbies worried about a serious oil spill from the ship by withdrawing planned legislation that would have eased restrictions on mineral exploration and production in Italy.

Read More