CCL Stock Increased 9.44%: Why It Happened

By Amit Chowdhry ● July 21, 2021
  • The stock price of Carnival Corp (NYSE: CCL) increased 9.44% today. This is why it happened.

The stock price of Carnival Corp (NYSE: CCL) increased 9.44% today, going from a previous close of $21.19 to $23.19. Investors appear to be responding positively to Carnival announcing that it expects to resume guest cruise operations with 65% of its total fleet capacity by the end of 2021 across 8 of its cruise line brands. And the Carnival Cruise Line has announced plans that envision the brand’s entire fleet returning to service by the end of 2021 — which would further increase Carnival Corporation’s total operating capacity to nearly 75% by the end of the Eight of the company’s nine brands — AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (UK), and Seabourn – announced plans to resume guest operations on 54 ships to date through the end of 2021 with nearly half of the capacity represented by ships homeported in the U.S. And in addition to those ships previously announced by the company’s brands, Carnival Cruise Line’s intent to return to full fleet service in 2021 would add another 9 vessels, totaling 63 ships to date that are expected to resume guest operations this year. 

More brand restart announcements are expected in coming weeks, including resumption plans for more ships and itineraries for 2021. And collectively, the brands are continuing to resume operations from ports around the world using a gradual phased-in approach, including sailings in the U.S., Caribbean, Europe and Mediterranean along with itineraries planned in Central America and to Antarctica. And the cruises include enhanced health protocols developed in conjunction with government and health authorities, and informed by guidance from the company’s public health, epidemiological and policy experts.

KEY QUOTES:

“With strong ongoing demand for cruising, we look forward to serving our guests with additional ships announced across eight of our brands and nearly three-quarters of our fleet capacity returning by the end of this year, marking an important milestone for our company and all those who rely on the strong economic impacts generated by the global cruise industry.” 

“For our entire company, our highest responsibility and top priority is always compliance, environmental protection, and the health, safety and well-being of our guests, our shipboard and shoreside employees, and the communities we visit. Our ongoing restart effort closely reflects those priorities, as we continue to work together across the industry and with partners around the world to resume cruising in the best interest of public health.”

— Roger Frizzell, chief communications officer for Carnival Corporation

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.