Carnival Corporation & plc
| Carnival Corporation & plc
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|---|---|
 |
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| legal form | Dual-listed company |
| ISIN |
PA1436583006 (Corporation) GB0031215220 (plc) |
| founding | 1972 |
| Seat |
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| management |
Arnold Donald (President and CEO ) Micky Arison (Chairman) |
| Number of employees | approx. 120,000 (2017) |
| sales | 16.4 billion USD ( FY 2016) |
| Branch | tourism |
| Website | www.carnivalcorp.com |
The British-American Carnival Corporation & plc is the largest cruise company in the world. It operates more than 100 ships worldwide under its brands AIDA Cruises , Carnival Cruise Line , Costa Crociere , Cunard Line , Holland-America Line , P&O Cruises , P&O Cruises Australia , Princess Cruises and Seabourn Cruise Line . Its main office is in Miami , Florida in the United States .
Founded in 1972, Carnival Cruise Lines changed its name to Carnival Corporation in 1993 . In April 2003 it merged its business with the cruise division of the former Peninsular and Oriental Steam Navigation Company , which therefore changed its name from the last P&O Princess Cruises plc to Carnival plc . Since then, Carnival Corporation, registered in Panama and traded on the New York Stock Exchange , and Carnival plc, traded in London , have formed . based in Southampton, UK, is a dual-listed company under the name Carnival Corporation & plc .
history
Early years
Entrepreneur Ted Arison founded Carnival Cruise Lines in 1972 as a subsidiary of American International Travel Service (AITS) from Boston and bought the company in 1974 for USD 1 and assuming USD 5 million in debt from AITS.
1980s and 1990s
When Arison first listed around 20% of its shares on the stock exchange in 1987, the company was already one of the most famous cruise operators in the world. With the help of the proceeds from the IPO, the company expanded through a series of acquisitions. In 1988, the hostile takeover of its biggest competitor, the Royal Caribbean Cruise Line, failed practically at the last moment. For this purpose, the operating company of Holland America Line was acquired in 1989 , and with it Windstar Cruises and Holland America Tours , and in 1992 the Seaborn Cruise Line . In the following year the company changed its name and continued its growth path in 1997 with the purchase of the Italian Costa Crociere . In 1998 the Carnival Corporation succeeded in taking over the traditional British Cunard Line when its parent company Trafalgar House was broken up by the Norwegian Kvaerner Group.
As early as 1988, the Carnival Corporation entered the business of charter flights by purchasing Pacific Interstate Airlines . Named Carnival Air Lines in 1989 , the company flew between San Juan (Puerto Rico) , Orlando , Miami and New York City , among others . In September 1997, the company was sold to Pan Am Corporation , the operator of Pan American World Airways . Rapid expansion and the occurrence of economic difficulties then led both Carnival Air Lines and Pan Am to bankruptcy in early 1998 .
Since 2000
When the Peninsular and Oriental Steam Navigation Company spun off its cruise activities as P&O Princess Cruises plc in 2000, the new company, then number three among the world's largest cruise companies, opened merger negotiations with number two, the Royal Caribbean Cruise Line . This merger would have created a new market leader who would have significantly displaced Carnival as the previously undisputed market leader. The Carnival Corporation offered the shareholders then 1.2 billion US dollars to the company itself instead to take over. In April 2003 P&O Princess plc changed its name to Carnival plc and the companies merged their business. This business included the companies P&O Cruises, Princess Cruises, P&O Holiday, Swan Hellenic and the German AIDA Cruises .
In the spring of 2007, the Windstar Cruises brand was sold to Ambassadors International, Inc. Shortly thereafter, Lord Sterling, the former chairman of P&O Cruises, acquired all of the shares in Swan Hellenic . Carnival had previously planned to discontinue the former P&O cruise line.
In October 2010, the new was Queen Elizabeth , whose construction in 2007 at the Italian shipyard Fincantieri had been commissioned on its maiden voyage to the to the investment company Istithmar by Dubai sold Queen Elizabeth 2 to replace.
With Carnival Magic , which was taken over by the Italian shipyard Fincantieri on April 27, 2011 , the fleet grew to exactly 100 ships.
On January 13, 2012, the shipping company lost the cruise ship Costa Concordia , led by Captain Schettino, in a collision with a rock , killing more than 30 people.
From 2015 to 2017, over 70 ships are to be equipped with an "ECO-EGC" system ( scrubbing ). This applies to 22 ships from Carnival Cruise Line, 9 ships from Holland America Line, 7 ships from Princess Cruises, 3 ships from Cunard Line, 10 ships from AIDA Cruises and 6 ships from Costa Crociere.
On March 26, 2015, Carnival Corporation ordered nine cruise ships to be built between 2019 and 2022 at the Fincantieri , Meyer Turku and Meyer Werft shipyards . In June 2015 it was announced that two of the newbuildings in 2019 and 2020 with a tonnage of 180,000 GT will be built for the AIDA Cruises brand . The ships have been delivered since December 2018.
In April 2016 the “fathom” brand was introduced. The Adonia , which was previously used by P&O Cruises , was the only ship that was operated until June 2017 . In the summer of 2018, the company acquired the White Pass and Yukon Railway tourist railway in British Columbia.
In 2019, the joint venture CSSC Carnival Cruise Shipping Limited was launched on the Chinese market.
Legal form and registered office
Due to its legal form as a dual-listed company , Carnival Corporation , based in Panama City and headquartered in Miami , is listed on the New York Stock Exchange ( NYSE ), while Carnival plc , based in London , United Kingdom , is listed on the London Stock Exchange ( LSE ) traded.
As the Carnival Corporation is registered in Panama City, it is subject to Panamanian tax law : There is no profit tax there on business conducted outside the country. No taxes are levied on dividends, interest or fees incurred abroad. Foreign income is not subject to corporation tax and income tax .
The Carnival plc , however, is registered in London and must therefore pay taxes under UK law.
criticism
Repeated illegal garbage disposal
In 2002, Carnival Corporation pleaded guilty to forging records of the disposal of oily bilge water from 1996 to 2001. This was accompanied by a fine of $ 18 million. The company was also committed to charitable work and placed under judicial observation for a period of 5 years.
For repeated illegal dumping of oily waste into the sea and for attempted concealment of the violations, Princess Cruises Ltd was sentenced in 2016 to the highest penalty to date for deliberate pollution by ships, at a value of 40 million USD. The authorities assume that illegal waste disposal has been a common practice since 2005. Likewise, ships of Princess Cruises Ltd and Carnival Cruise Lines Inc were again placed under judicial observation.
For violations of conditions from the 2016 ruling, Carnival Corporation & plc. and its subsidiary Princess Cruises Ltd were again fined $ 20 million in 2019. The violations were again the illegal disposal of waste, falsification of records and attempts to circumvent judicial supervision by using cleaning teams to forestall inspections.
Pollutant emissions
In 2019, a study by Transport and Environment was published which shows that Carnival emitted almost ten times more sulfur oxides along Europe's coasts in 2017 than all 260+ million passenger vehicles in Europe combined.
See also
Web links
Individual evidence
- ↑ Q2 2017 Carnival Corporation & plc Earnings Conference Call , Webcast / Corporate Announcement, June 22, 2017, accessed June 24, 2017
- ↑ Carnival Corporation & plc: Annual Report 2016. (PDF) Retrieved April 18, 2017 (English).
- ↑ Baptism of the 100th ship
- ↑ Timeline of Carnival Corporation & plc , accessed November 6, 2011
- ↑ Ambassadors International, Inc.- Press release: Ambassadors International, Inc. Completes Acquisition of Windstar Cruises From Holland America Line
- ^ Daily Telegraph online - Swan Hellenic saved
- ↑ Royal Caribbean and Carnival are upgrading scrubbers. December 23, 2014, accessed December 23, 2014 .
- ^ Carnival Corporation Enters into Strategic Partnerships to Add Nine Cruise Ships to its Fleet over a Four-Year Period Starting in 2019. March 26, 2015, accessed March 27, 2015 .
- ↑ AIDA Cruises awards billions in orders to Meyer Werft in Papenburg. June 15, 2015, accessed June 15, 2015 .
- ↑ Carnival Corporation: Adonia from P&O Cruises becomes the first ship from “fathom”. June 10, 2015, accessed June 10, 2015 .
- ^ Carnival Corporation Launches Cruise Joint Venture in China. November 6, 2018, accessed November 9, 2018 .
- ↑ Carnival Corporation Articles of Incorporation (PDF; 229 kB)
- ↑ Tax paradise Panama ( Memento from August 20, 2007 in the Internet Archive )
- ↑ Carnival plc Memorandum of Association (PDF; 74 kB)
- ^ Travel Advisory: Correspondent's Report; For Cruise Ships, A History of Pollution , New York Times. June 16, 2002. Retrieved June 7, 2019.
- ^ Princess Cruise Lines to Pay $ 40 Million Fine for Illegal Dumping , New York Times. December 2, 2016. Retrieved June 7, 2019.
- ^ Carnival Cruises to Pay $ 20 Million in Pollution and Cover-Up Case , New York Times. June 4, 2019. Retrieved June 7, 2019.
- ↑ One corporation to pollute them all. In: transportenvironment.org. June 4, 2019, accessed June 16, 2019 .
- ↑ Massive exhaust emissions in ports from cruise ships. In: nabu.de . June 5, 2019, accessed June 16, 2019 .
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North America, Australia (NAA) |
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Europe, Asia (EA) |
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| Former brands |
Fathom Cruise Lines • Fiesta Marina Cruises • Ibero Cruceros • Ocean Village • Windstar Cruises • Swan Hellenic • Carnival Air Lines |
Coordinates: 25 ° 48 ′ 24 ″ N , 80 ° 20 ′ 9 ″ W.