Attorneys Press US$400-million Claim Against Cruise Company

MarineLink
New York law firm Ronai & Ronai file a compensation claim on behalf of a victim of the ‘Costa Concordia‘ shipwreck. The federal lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of the family of Hungarian
Read More Marine link
Read More Wall Street Journal
Read More Caboodie

Carnival Bets on a Rebound

Wall Street Journal
By ARIAN CAMPO-FLORES and JOAN E. SOLSMAN
Carnival Corp. sharply reduced its earnings forecast for this year, but pointed to reassuring booking trends, in its fullest financial accounting so far of the impact of the Costa Concordia shipwreck in January that killed at least 25 people. Executives on a conference call with analysts on Friday said the Concordia incident is no longer the main obstacle to selling cruises. Instead, it is travelers’ expectations that prices will fall in the wake of the disaster.
Read More

Carnival in rough seas as cruise season starts

Wall Street Journal
AP NEW YORK — Carnival Corp. cut its profit forecast nearly in half Friday, another sign of the challenges the company and cruise industry face after the capsizing of the Costa Concordia in January. Cruise line operators entered 2012 thinking they could start charging passengers more again after offering widespread discounts following the 2007-2009 recession. But just two weeks into the year, 32 people died when Carnival’s Costa Concordia sank off the coast of Italy.
Read More

Cruise bookings fall after Concordia shipwreck

Wall Street Journal
On Monday, they got a new reason to be nervous: bookings fell significantly for Miami-based Carnival Corp. following the Costa accident. Attention is now focused on Royal Caribbean Cruises Ltd., which reports earnings on Thursday. The frightful images of a sinking Italian cruise ship have scared off some cruise passengers, at least temporarily, during the industry’s peak booking season Read More

Carnival Details Short-Term Costs of Cruise-Ship Crash

Wall Street Journal
Miami-based Carnival said in a regulatory filing it expects the loss of the use of the Costa Concordia to reduce its net income by $85 million to $95 million in the fiscal year ending Nov. 30, 2012. It estimated insurance deductiles will cost it another $40 million, in addition to $30 million to $40 million in “other incident related costs” from the accident.

Read More