Higher Income For Carnival Corp

Miami-based cruise company Carnival Corporation & plc has reported record Q3 revenues and earnings.

Their net income rose from USD 1.3 billion to USD 1.7 billion, while the revenues stood at USD 5.8 billion (USD 5.5 billion in the previous year).

Based on these results, the company expects an increase in net revenue of 3.5 percent for the full year of 2018.

“Strong execution delivered the highest quarterly performance in our company’s history, overcoming fuel and currency headwinds,” Arnold Donald, Carnival President and CEO, said. "We are on track to achieve double digit return on invested capital in 2018 as we deliver upon our strategy to create demand in excess of measured capacity growth, all while containing costs and leveraging our industry leading scale."

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20 Boxship Giants Contracts

South Korean shipping company Hyundai Merchant Marine has signed contracts for its twenty eco-friendly mega containerships with three shipyards.

According to deals, signed on September 28, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries will build seven and five 23,000 TEU containerships, respectively, which are expected for delivery in 2020.

Hyundai Heavy Industries will construct eight 15,000 TEU containerships to be delivered in the second quarter of 2021.

The long-expected order for the containership giants first surfaced  last year. At the time, HMM unveiled plans to start a selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies in April 2018.

If the shipbuilding process proceeds smoothly followed by the selection of the shipbuilder, all the new vessels will be sequentially delivered in the right time to prepare for the 2020 environmental regulations.

The fleet investment, aimed at boosting the shipping line’s competitiveness, is part of South Korean government’s 5 Year Plan for Rebuilding Korean Shipping.

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