Corporate News: Carnival Invests In Fleet Upgrades

Carnival Corp. plans on investing $600 million to $700 million on their high-profile cruise ships. In recent years there has been major problems due to outdated ships. The most notable problem is the loss of energy and power. This is extremely dangerous because  the passengers and crew on the ship were essentially drifting away in the Gulf of Mexico. Since so many problems have occurred, Carnival Corp will be spending this large sum of money to repair its vessels. It will be enhancing its engine and fire systems to reduce the likelihood of ships losing power, and will invest more on emergency safety and hospitality systems.

Most of these upgrades are not simply to make their ships better, but to also repair their damaged public appeal. Since there have been multiple incidents that created bad publicity for the company, less cruise tickets have been sold. This investment is intended to renovate their ships, along with their drowning image.

URL: http://online.wsj.com/article/SB10001424127887323309604578428573836848826.html?mod=rss_whats_news_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7011+(WSJ.com%3A+What’s+News+US)

-Jonathan Chan

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