Connect with us

Published

on

Carnival warned that its 2024 earnings could take up to a $10 million hit as a result of the Baltimore bridge collapse, which has halted the cruise line’s ability to access its Maryland port.

Carnival chief Josh Weinstein told investors during the company’s first-quarter earnings call on Wednesday that its ships will temporarily dock in Norfolk, Va., “which should help to minimize operational changes,” The Wall Street Journal earlier reported.

The Carnival Legend ship set sail Sunday for a seven-day Bahamas cruise — two days before the Francis Scott Key Bridge crumbled when it was hit by a container ship around 1:30 a.m. ET Tuesday in what was quickly declared a mass-casualty event.

Instead of returning to Baltimore this weekend, Carnival Legend will end its trip in Norfolk, “and guests will be provided complimentary bus service back to Baltimore,” the company said in a press release.

The next seven-day voyage, scheduled for March 31, will also operate out of Carnival’s Virginia port.

“Guests on the current and upcoming cruises are being informed of this change,” Carnival said.

Despite expecting an eight-figure disruption to its annual adjusted earnings as a result of this diversion, Carnival has yet to factored the $10 million hit into its full-year adjusted profit guidance, which it raised marginally to $5.63 billion for 2024.

Previously, Carnival anticipated raking in about $5.6 billion in adjusted earnings before interest, tax, depreciation and amortization, while analysts had estimated $5.64 billion.

In a news release issued by Maryland Gov. Wes Moore last month, the Port of Baltimore was celebrated as “the best port in the nation” and one of Maryland’s largest economic generators.

In 2023, more than 444,000 cruised out of the port, which generates some 15,300 direct jobs and nearly 140,000 roles linked to port activities, Moore said.

The cruise business has been on the rise post-pandemic.

In the past year alone, Carnival’s stock has run up more than 95%.

The Miami-based cruise operator also reported on Wednesday that its revenues for the first quarter of 2024 surged 22% to a record $5.4 billion.

Weinstein said the company is succeeding in lifting its prices to customers without hurting demand, per The Journal.

He added that customers have also booked more in advance this year than they historically have, boosting Carnival’s confidence that it can max out its ships’ capacities this summer without last-minute discounts.

“Because our assets (our ships) are mobile, we can be very nimble and our team moved quickly to secure a temporary homeport in Norfolk for as long as it is needed,” a Carnival spokesperson told The Post. “We will continue to actively monitor the situation and look forward to getting back to Baltimore as soon as possible.”

Royal Caribbean — which has its own itinerary scheduled return to Baltimore from the Caribbean on April 4 — is close to erasing its pandemic losses, according to The Journal, and boasts 40% more pre-cruise revenue booked as of March 2024 than in the same period of 2023.

However, the cruise line has yet to comment on how the Key Bridge’s collapse could impact that momentum.

Royal Caribbean has only advised that its “closely monitoring the situation” ahead of April 4, when Vision of the Seas is returning to Baltimore from its 12-night Caribbean voyage.

“Our port logistics team is currently working on alternatives for Vision of the Seas ongoing and upcoming sailing,” added Royal Caribbean, which has another trip slated to set sail from Baltimore on April 12.

Continue Reading

World

Helicopter carrying Hindu pilgrims crashes in India, killing seven people

Published

on

By

Helicopter carrying Hindu pilgrims crashes in India, killing seven people

A helicopter carrying Hindu pilgrims has crashed in India, killing seven people on board.

The accident happened within minutes of the helicopter taking off, officials said, on what should have been a 10-minute flight.

The helicopter was flying to Guptkashi, a prominent Hindu pilgrimage site in the Himalayas, from Kedarnath temple town in the northern Indian state of Uttarakhand.

It comes three days after an Air India flight crashed less than a minute after taking off from Ahmedabad airport in northwestern India, killing at least 270 people.

The helicopter, which was operated by private helicopter service Aryan Aviation, went down in a forested area several miles from the Kedarnath pilgrimage route at around 5.30am local time.

Officials said the crash was believed to have been caused by poor weather conditions.

Authorities say they have launched a search and rescue operation and are expected to review operational protocols for flights in the region.

More on India

The dead include the pilot and pilgrims from the neighbouring state of Uttar Pradesh and western states of Maharashtra and Gujarat, according to officials. The bodies were badly burned in a fire that followed the crash, they said.

Smoke and debris at the crash site. Pic: Reuters
Image:
Smoke and debris at the site. Pic: Reuters

Tens of thousands of pilgrims visit Kedarnath, which is home to one of the four most sacred Hindu temple shrines, each summer. Many use helicopter services due to the difficult mountainous terrain.

Helicopter mishaps are not uncommon in the region, where sudden weather changes and high-altitude flying conditions can pose risks.

Earlier this month, a helicopter operating in the Kedarnath Valley made an emergency landing shortly after taking off on a highway due to a technical fault. The pilot was injured but all five passengers on board were unharmed.

In May, a helicopter crashed in Uttarkashi district, killing six people, including the pilot. One person survived.

Continue Reading

Politics

Brazil ends crypto tax exemption, imposes 17.5% flat rate on gains

Published

on

By

Brazil ends crypto tax exemption, imposes 17.5% flat rate on gains

Brazil ends crypto tax exemption, imposes 17.5% flat rate on gains

Brazil scraps crypto tax exemption for small traders, enforces flat 17.5% rate across all gains, including self-custody and offshore holdings.

Continue Reading

Sports

Ohtani blasts two HRs to halt 10-game drought

Published

on

By

Ohtani blasts two HRs to halt 10-game drought

LOS ANGELES — Shohei Ohtani hit two homers in an 11-5 win over the San Francisco Giants on Saturday night, emphatically ending the three-time MVP’s longest homer drought since joining the Los Angeles Dodgers.

Ohtani led off the bottom of the first with his 24th homer, hammering Landen Roupp‘s fourth pitch 419 feet deep into the right-field bleachers with an exit velocity of 110.3 mph.

The slugger had been in a 10-game homer drought since June 2, going 10-for-40 in that stretch with no RBIs, although he still had an eight-game hitting streak during his power outage.

Ohtani led off the sixth with his 25th homer, sending Tristan Beck‘s breaking ball outside the strike zone into the bleachers in right. He also moved one homer behind the Yankees’ Aaron Judge and Seattle’s Cal Raleigh for the overall major league lead.

Dodgers fans brought him home with a standing ovation as Ohtani produced his third multihomer game of the season and the 22nd of his career.

Ohtani reached base four times and scored three runs in his first four at-bats, drawing two walks to go with his two homers.

Ohtani hadn’t played in 10 straight games without hitting a homer since 2023 in the final 10 games of his six-year tenure with the Los Angeles Angels.

Ohtani had slowed down a bit over the past two weeks after he was named the NL Player of the Month for May with a formidable performance, racking up 15 homers and 28 RBIs.

The Associated Press contributed to this report.

Continue Reading

Trending