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Carnival Now Says They Expect 13 Ships To Leave Their Fleet


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This doesn't surprise me at all.  I sold all of my Carnival stock last week and took a huge loss on it.  The reason I sold is because CCL credit rating has been reduced to Junk, which is the absolute lowest you can have.  I believe they are selling off ships just to pay for current expenses to stay alive until they are able to cruise again.  Dividends have been cancelled as well.  I had accumulated about 400 shares of stock over the years.  Also sold all of my RCL stock last week as well.  As we are fast approaching retirement within the next few years, I needed to move that money into something else that would be generating some much needed dividends.

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Previously sold
Costa neoClassica sold to Bahamas Paradise
Costa neoRiviera sold to AIDA (group Co.)
Costa Mediterranea - sold to Carnival-China JV
Pacific Aria - sold to CMV, early departure
Pacific Dawn - sold to CMV, early departure

Confirmed
Costa Victoria - sold for scrap
P&O Oceana - sold to Greek buyers

Very Likely
Carnival Fascination - sold for scrap
Carnival Inspiration - sold for scrap
MS Maasdam
MS Veendam
Costa neoRomantica

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More reports coming in that Carnival Fantasy has been sold for scrap and on its way to a breaking area in Turkey. Former Monarch of the Seas also being scrapped as Pullmantur looks to be perhaps out of this business.

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Norwegian will survive, they've got enough cash to last them the next 16+ months or so without any revenue...unless Carnival or MSC or RC buy them out....unlikely given the market realities 

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3 hours ago, drsel said:

Yes, Pullmantur and Birka both closed down operations permanently.
All their ships are being sold for scrap

Some of the pullmantur ships when back to the the mother company - Royal. 

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I have a cruise booked on Inspiration that I had to make final payment on today.  Very cheap overall but I'm guessing Carnival Miracle will take over the route out of Long Beach.  Hopefully Carnival Panorama will return to Long Beach from Manila where it is currently sitting.

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24 minutes ago, KINGBOBOFTHENORTH said:

I have a cruise booked on Inspiration that I had to make final payment on today.  Very cheap overall but I'm guessing Carnival Miracle will take over the route out of Long Beach.  Hopefully Carnival Panorama will return to Long Beach from Manila where it is currently sitting.

 

I highly doubt Miracle is moved to Long Beach unless Miracle is being replaced out of San Diego and San Fran with another ship as those routes are potentially way more profitable than the 3-4 day cruises out of Long Beach. Unless the Imagination also is sold or moved to another market, it is highly unlikely in the short term that Long Beach will gain another ship as Carnival will likely tell Inspiration cruisers to move to the Imagination or take the short ride down/up the coast to San Diego/San Fran for any Ensenda cruises.

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10 minutes ago, embarkation75 said:

 

I highly doubt Miracle is moved to Long Beach unless Miracle is being replaced out of San Diego and San Fran with another ship as those routes are potentially way more profitable than the 3-4 day cruises out of Long Beach. Unless the Imagination also is sold or moved to another market, it is highly unlikely in the short term that Long Beach will gain another ship as Carnival will likely tell Inspiration cruisers to move to the Imagination or take the short ride down/up the coast to San Diego/San Fran for any Ensenda cruises.

Makes sense; we shall soon see what they do.

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On 7/13/2020 at 1:03 AM, PlanoDebbie said:

 I sold all of my Carnival stock last week and took a huge loss on it.  The reason I sold is because CCL credit rating has been reduced to Junk, which is the absolute lowest you can have.

 

I think this was a smart move. A while back Carnival got a huge inflow of cash from Saudi Arabia. However that was before the shutdown was expanded to end of September. With the credit rating so low now any further assistance is unlikely. Some have said they think Carnival has enough cash on hand to make it to the end of the year, I'm not so sure. If the shutdown is extended much further, I expect Carnival to seriously look at bankruptcy protection. That's not to say they are going to go under. They will just use the bankruptcy laws to lessen the bleeding and hopefully emerge from it in much better shape. Right now, I think there is about a 40% chance of that happening and that chance increases the more cancellations they have. If you hold stock when bankruptcy  happens, there is an extremely high probably that the stock will be canceled making it worthless. 

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15 minutes ago, jimbo5544 said:

I thought I read all were destined for the scrapyard, but maybe wrong.

You are correct, the entire Pullmantur fleet is being scrapped. RCI did extract any onboard valuables, but the ships will never re-enter passenger service.

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4 hours ago, 1980dory said:

Wow!  If it was confirmed on social media, then it must absolutely be true!  Thanks for this valuable info!

It was on the HAL page and released by their brand ambassador. So... have a blessed one! 😏

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4 hours ago, 1980dory said:

I don't believe anything US News says.  I much prefer to rely on social media for my news.

Must be real cool to get on a message board and be snarky to everyone. Keep up the attitude! 👍🏻

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