Carnival agrees to buy 2 ships for its Princess Cruises brand to begin service in 2013, 2014
By APWednesday, February 17, 2010
Carnival agrees to buy 2 cruise ships
MIAMI — Cruise operator Carnival Corp. said Wednesday it agreed to acquire two ships for its Princess Cruises Brand.
Italian shipbuilder Fincantieri will build two 3,600-passenger cruise ships, scheduled to enter service in the spring of 2013 and the spring of 2014.
The new ships will have an all-in cost of 155,000 euros ($212,195) per lower berth.
At 139,000 tons each, the ships will be the largest in the Princess Cruises fleet. The ships have not yet been named.
Wells Fargo Securities analyst Tim Conder said in a note to investors the news isn’t a surprise since management has said it wanted to order new Princess ships for 2013 and 2014.
“The timing of the announcement also appears favorable given recent weakness in the euro,” he said. “Price per berth appears favorable versus recently ordered Carnival ship ($200,000 per berth) set to be delivered in 2012.”
He reiterated his “Outperform” rating on Carnival stock.
