it's Bruce here with traveling and Bruce welcome my channel today I've got news
for you about Carnival all kinds of news on Carnival thanks for subscribing to my
channel thank you for the thumbs ups thank you for supporting this channel
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on anything you buy let's get started on the story of Carnival first of all
earlier this year the Trump administration banned cruise lines from
taking passengers from the u.s. to Cuba this is still reverberating in the
cruise business the cruise lines are using basically their oldest ships to
take passengers to Cuba and they were bringing in upwards of 200 to 250 bucks
a passenger per day in fares really good money that's over it's done all these
older ships are now flying waters elsewhere trying to survive and going
forward it looks like Carnival is offering these ships that are pretty
cheap price I'll get to that in a minute Half Moon key right over here look at
Half Moon Cay big news out of the Bahamas for carnival carnival is going
to build a pier at Half Moon Cay and they're developing a brand new of
private resort on Grand Bahama with its own pier to add another private visiting
place to go to so that would be princess kay Half Moon Cay and now one in Grand
Bahama 180 million dollar investment into the Bahamas wonderful news for the
Bahamas but in a big investment on behalf of Carnival now I mentioned Cuba
and I mention this because I want to talk about the news that came out today
and I'll try to put this all together for you the company announced third
quarter earnings today record month record numbers they're making more money
than ever before they're all proud of themselves
carnivals building brand new ships the Mardi Gras right here this ship is
coming out as a twin - the ship is being built as well both are being LNG powered
they'll have the morels Bistro one here a bunch of other
great restaurants these ships are gonna be very very popular carnival is also
building a new ship for the panorama it's already finished for sea trials
she'll be in a long beach by the end of this year there's all kinds of new ships
coming for Carnival the economy has been good unemployment the United States very
low interest rates very low bad news ships are getting old too a bunch of
ships that Carnival has are starting to show their age we're beginning to hear
of and experience more stories where engines are probably beginning to fail
or azipods are failing or other issues Costa that is their sister line in
Europe this summer Elda cruise ship is coming out shortly
LNG powered will be the largest ship Costa will operate what we just heard
today of the 13 ships they operate now five will be retired in the next two
years and part of the reason is mechanical issues some of these ships
are falling apart they're just old and tired this is what happens to cruise
ships it's nothing personal saltwater just has a way of beating up
cruise ships and you either put it a hundred million bucks into these things
every few years or you replace them with a new one and that is what's happening
at kosta new ships are coming to Carnival new ships have been coming in
to haul in America there are other sister line and to princess got a hand
it to Carnival they're spending a lot of money on new ships but there's the other
side of the problem a lot of new capacity is being added to the cruise
line and they're gonna have to fill these cabins up and now that they've
lost Cuba going all the way back to Cuba now that they've lost the 250 bucks a
night they were getting from passengers going on these old ships to Cuba those
ships are going elsewhere and they are undercutting prices for the fleet it's
it's in effect more competition than they need right now
Europe is entering a recession Italy is flat sheet Spain is in the recession
Frances flat Germany is receding in its economy the brexit in Britain is all bad
news big trouble in Europe and in North America we've had ten years of expansion
how much longer can it go it's been revised downward
this year the economy in the u.s. it's growing but not as fast as last few
years this may affect the cruise business anyway today Carnival shares
dropped almost 10% in value on expected slowdowns for their earnings going
forward even though they just posted record numbers there's a quick recap of
what's going on at Carnival there's a lot happening in many divisions of the
company some exciting some race um but it's just another day at carnival where
you make record profits and the stock goes down 10% what are you gonna do
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as bruce saying thanks for sailing with me today and we'll see you next time
everybody bye for now