Page 42: of Maritime Reporter Magazine (February 1999)

In a seeming effort to keep cruiseship building yards busy worldwide, Royal recently took up an option with Germany's Meyer

Werft to build a second 85,000-ton

Vantage class ship for $350 mil- lion. These 2,000 passenger ves- sels are unique in that they will be powered by gas turbines.

Royal Caribbean is clearly mak- ing a play to offer the most modern fleet of vessels in operation, con- sidered a hedge against potential economic downturns.

At $3 Billion And

Heading Up

Carnival Corp. — the largest cruise line in the world based on passengers carried — saw profits soar 42 percent in its fiscal fourth quarter, driven by stronger pas- senger counts and a majority stake of Cunard, acquired in May, boost- ed revenues. Profits in the full fis- cal year rose to $835.9 million

CMNIVAL CRUISE UNE so from $666.1 million. Revenues climbed to $3.01 billion from $2.45 billion. Total passengers for the year increased to 2.05 million from 1.95 million a year ago.

Net income in the fourth quarter ended November 30 increased to $220.6 million from $155.4 million.

Revenues surged 39 percent to $728.6 million from $524.4 million a year ago. Miami-based

Carnival's acquisition of a 68 per- cent interest of Cunard Cruise

Line Ltd. in May spurred the big increase. Without the acquisition, revenues still grew by 14 percent.

The coming year appears rosy for

Carnival as well, which introduced the $300 million, 2,040-passenger

Paradise in late 1998 and is set to launch Carnival Triumph this

July, followed by Holland

America's Volendam in August.

Carnival made news by becoming the first cruise line to offer a 100 percent smoke-free ship. To prove its resolve in ensuring the sanctity of its rules, the company reported that by mid-January, it had put-off

February, 1999

See us on the Internet at www.cpmt.com nine passengers for smoking viola- tions. Passengers sign an agree- ment before boarding Paradise not to smoke, with the realization that smoking will result in being trans- ported to land, forced to find and finance the way back home. As a kicker, the line will now institute a $250 "fumigation" penalty for those caught.

Carnival was also involved in one of the more visible and publicized accidents of the year, as the luxury liner Ecstasy — carrying 2,575 passengers and 900 crew — erupt- ed in flames from the stern as it was leaving the Port of Miami.

Carnival Corp. is comprised of

Carnival Cruise Lines, Holland

America Line; Windstar Cruises; a majority interest in Cunard Line

Ltd., which operates Cunard and

Seabourn brands; and interests in

Costa Cruises and Airtours Pic.

Circle 240 on Reader Service Card Circle 315 on Reader Service Card 39

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