• BIST 1.542
  • Altın 411,808
  • Dolar 7,5315
  • Euro 8,9768
  • İstanbul 13 °C
  • Ankara 12 °C

Saudi Arabia Buys 8.2 Pct Stake in Carnival Corporation

Saudi Arabia Buys 8.2 Pct Stake in Carnival Corporation
The Public Investment Fund from Saudi Arabia has taken 8.2 percent stake in the world’s largest cruise shipping company Carnival Corporation.

The fund bought 43,508,895 of the class securities offered as part of Carnival’s debt and equity offerings aimed at lifting the company’s liquidity.

The move helped push the company’s stocks up to USD 10 on Monday after the company’s stocks dropped by a head-spinning 81 percent.

The cruise shipping giant has been in dire straits since the suspension of its global operations following the outbreak of the coronavirus.

The extent of the economic impact on the company’s operations is very hard to determine at this point.

However, initial estimates from Carnival indicate that the first quarter of 2020 will result in a U.S. GAAP net loss of USD 781 million, a major downturn from a profit of USD 336 million in Q1, 2019. The cruise liner major expects to put a vast majority of its ships in prolonged layups during the global pause of its cruise operations, costing approximately USD 1 million per month per ship.

The company expects to incur additional costs from planned warm layups as well as incremental COVID-related costs associated with sanitizing its ships and defending lawsuits.

 

TURKISH MARITIME NEWS

 
This news is a total 358 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |