LONDON MARKET MIDDAY: China slowdown causes European stocks to see red - Morningstar
(Alliance News) - Equities around Europe extended their decline at midday on Monday after weak trade data from China sent a scare through markets about the impact of the country's strict Covid lockdowns.
The FTSE 100 index was down 135.72 points, or 1.8%, at 7,252.22 midday Monday. The mid-cap FTSE 250 index was down 471.54 points, or 2.4%, at 19,348.60. The AIM All-Share index was down 19.52 points, or 2.0%, at 957.90.
The Cboe UK 100 index was down 2.0% at 722.85. The Cboe 250 was down 2.3% at 17,113.13 and the Cboe Small Companies down 0.8% at 14,717.15
In mainland Europe, the CAC 40 stock index in Paris was down 1.7%, while the DAX 40 in Frankfurt was 1.4% lower.
"The optimism that followed the US Federal Reserve meeting last Wednesday feels a long way off on Monday as the FTSE 100 dropped to its lowest levels since mid-March," AJ Bell investment director Russ Mould said.
"The continuing impact of Beijing's zero-Covid policy in China and concerns about the Fed's next moves are helping to pile the pressure on markets. The impact of Chinese restrictions was reflected in export growth hitting two-year lows in April – in effect back where we were near the …
Disney Cruise Line juggles deployment with 5-ship fleet for summer 2023 | Let's Go! | yoursun.com
While new ship Disney Wish and Disney Fantasy will remain at Port Canaveral, instead of sending Disney Magic like normal, Disney Dream gets to travel across the Atlantic.
“We are thrilled to have five ships at sea in summer 2023 with a wide array of destinations for families to enjoy,” said Sharon Siskie, senior vice president and general manager of Disney Cruise Line, in a news release
Disney Wish is set to debut at Port Canaveral on July 14. It’s the first of three planned ships in the new Triton class. It recently left the Meyer Werft shipyard in Germany and has been performing sea trials in the North Sea ahead of an official handover to the cruise line. It will arrive to Florida in June for some preview sailings for cast members and media.
The 1,119-foot-long, 128-foot-wide ship comes in at 144,000 gross tons with 1,254 staterooms, compared to the 130,000 gross tons of Disney Dream and Fantasy and the 84,000 gross tons of the line’s two original ships Disney Magic and Wonder.
It’s the first new ship in more than a decade with the unnamed second and third ships in the class due in 2024 and 2025. When it arrives it will …
Ninth Holland America Line's ship returns to service - eTurboNews
Holland America Line welcomed its ninth ship back into service Sunday, May 8, as Oosterdam embarked guests in Trieste (Venice), Italy, for the first time since the industrywide pause began in 2020 due to the COVID-19 pandemic. The ship departed on a 12-day “Holy Lands and Ancient Kingdoms” cruise that includes an overnight at Haifa, Israel, and additional ports in Israel and Greece.
To commemorate the occasion, Holland America Line held a ribbon-cutting ceremony in the terminal to open embarkation, attended by the ship’s captain and senior officers, with flag-waving fanfare from team members lined up to greet guests as they boarded the ship.
“Our teams work incredibly hard getting the ships ready for a return to service, and the smiles when they see our guests walking up the gangway that first time are so heartfelt and sincere,” said Gus Antorcha, president of Holland America Line. “Each ship back to cruising means more team members back to sea, and we look forward to the restart being complete next month.”
Since Holland America Line restarted cruising in July 2021, Eurodam, Koningsdam, Nieuw Amsterdam, Nieuw Statendam, Noordam, Rotterdam and Zuiderdam have returned to service with cruises in Alaska, the Caribbean, Europe, Mexico, California Coast and …
Call to free blockade over Ukraine wheat exports to prevent global food crisis - Irish Examiner
Ukraine's president called on the international community to take immediate steps to end a Russian blockade of his country's ports to allow wheat exports and prevent a global food crisis.
President Volodymyr Zelenskyy made his comments in an online post after speaking to European Council president Charles Michel, who was visiting the city of Odesa, a major Black Sea port for exporting agricultural products.
"It is important to prevent a food crisis in the world caused by Russia's aggressive actions," Mr Zelenskyy wrote on the Telegram messaging app. "Immediate measures must be taken to unblock Ukrainian ports for wheat exports."
Mr Zelenskyy did not specify what measures he would like taken.
Ukraine was the world's fourth largest exporter of maize, or corn, in the 2020-2021 season and the number six wheat exporter, according to International Grains Council data. But nearly 25m tonnes of grains are now stuck in Ukraine, a UN food agency official said last week.
Mr Michel, who chairs summits of the EU's national leaders, wrote on Twitter that he had seen silos full of grain, wheat and corn in Odesa that was ready for export but blocked.
"This badly needed food is stranded because of the Russian war and blockade of Black Sea …
Carnival Corporation announces new President & CEO effective August 1 | SeaNews
Carnival Corporation has announced that effective August 1st, Arnold Donald, currently President and Chief Executive Officer, is being appointed Vice Chair and member of the Boards of Directors. Josh Weinstein, currently Chief Operations Officer for the company, will assume the role of President and CEO of Carnival Corporation & plc.
“Josh is a proven executive who is well-respected throughout the company, serving in key leadership roles, driving strong business results during his tenure and playing an integral part in stewarding the company through the global pandemic,” Donald said. “Josh’s thorough understanding of our industry, operations and business strategy puts him in a tremendous position to lead the next phase of our company’s journey. With his vision, intensity and core values truly aligned to those of our company, I cannot think of anyone better suited for this role than Josh.”
A 20-year veteran of Carnival Corporation & plc, Weinstein has a long history of success in critical senior-level roles for the company. In his most recent assignment for the past two years as Carnival Corporation & plc’s Chief Operations Officer, Weinstein oversaw all major operational functions including global maritime, global ports and destinations, global sourcing, global IT and global auditing. During this time, …
MSC Cruises' summer programme has 'strongest ever' focus on sustainability | Travel Weekly
MSC Cruises’ summer 2022 shore excursions programme has its “strongest ever focus on sustainability”, according to the line.
As part of its pledge to drive sustainable tourism, MSC Cruises says it has focused its largest ever summer shore excursion programme – featuring nearly 1,400 trips – on minimising the environmental impact of land-based tours.
More electric and hybrid shuttle buses will be used for guests to travel from ports to places of interest in Denmark, Finland, Norway, Spain and Sweden, and more low carbon footprint excursions will be available, including cycling, walking and kayaking.
Additionally, the line is continuing to promote its ‘Protectours’, which include replenishing forests in Greece, organic rooftop farming in Copenhagen, and cleaning plastic from the beaches of the Adriatic Sea.
Marialuisa Iaccarino, head of shore excursions at MSC Cruises, said: “Travel and tourism has a very significant role to play in global decarbonisation and we need to demonstrate leadership by ensuring that we meet the expectation of travellers who are more aware and engaged in sustainability matters and the protection and enhancement of the natural environment.
“At MSC Cruises we are determined to prove that the industry is a positive and engaged player in driving sustainable tourism.”
Passengers can receive a discount …
Cruise Saudi's Ghassan Khan on the journey so far and next steps
Cruise Saudi launched in 2021 with Silversea, Scenic and MSC Cruises operating sailings from Jeddah.
Khan calls Saudi Arabia ‘complementary to what cruising has to offer.'
Since it burst onto the scene what has Cruise Saudi been working on? Mary Bond asked in a one-to-one interview on the trade show theatre during Seatrade Cruise Global.
‘Building the ports, forging partnerships, working with govt agencies on COVID protocols, immigration, customs, creating tours, etc. have all been part of our daily lives,’ said Khan.
‘Saudi only started welcoming tourists four years ago. Vision 2030 is a transformational strategy for the kingdom. Tourism is key to developing this. The goal is over 1m tourists annually. That’s a big ambition. We believe we can reach this in 15 years,’ he explained.
As far as cruise tourism development goes, MSC Bellissima spent the 2021/22 summer and winter seasons home porting in Jeddah and ‘we’ve got a proof of concept with MSC Cruises which had a second ship [MSC Virtuosa] visit Jeddah Islamic Port. Silversea, Viking and Scenic have visited as well. Collectively they completed more than 70 sailings during the inaugural 2021 and winter 2022 season.
‘It’s clear to us what we need to do to move forward. Now it’s about …
Lekki port: FG, Lagos to share from $201 billion accruing from taxes, royalties | Pulse Nigeria
The minister of information, Alhaji Lai Mohammed, speaking to newsmen during a tour of the port said that cargo lost to the ports of neighbouring countries will also be reclaimed as the port will be the most cost efficient in the sub-region.
He said that the investment was quite humongous to the tune of $1.53 billion dollars spent on fixed assets and $800 million dollars on construction.
The combined impact of the project has been placed at $361 billion in 45 years, which will be over 200 times the cost of the project, he added.
“Beyond that, when it begins operation in the last quarter of this year, it will make it possible for Nigeria to regain the maritime business that was lost to ports in Togo, Cote d’Ivoire and Ghana. It is also a big boost to Nigeria in its quest to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA).
“A major advantage we have to leverage is transshipment. With this port, Nigeria will become a transshipment hub and the revenue we are currently losing to our neighbouring countries will come here.
“As you know, this project is being done in phases. Phase 1 has reached 89 percent and …
Brokerages Expect Carnival Co. & plc (NYSE:CCL) Will Announce Earnings of -$1.05 Per Share
Shares of Carnival Co. & plc (NYSE:CCL - Get Rating) have received an average rating of "Hold" from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $24.49.
• One Way or Another Carnival Cruise Lines Should Be a Compelling Buy
CCL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Carnival Co. & from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, March 23rd. Citigroup decreased their price objective on shares of Carnival Co. & from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, April 19th. Jefferies Financial Group decreased their price objective on shares of Carnival Co. & from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, March 29th. Morgan Stanley decreased …
LONDON MARKET EARLY CALL: Soft open to follow slumping China exports - Morningstar
(Alliance News) - Stocks in London are set to open on the backfoot on Monday, with worrying data from China showing exports have slowed, followed by news the world's second-largest economy will look to tighten its Covid restrictions.
IG futures indicate the FTSE 100 index will open down 41.44 points, or 0.5%, at 7,346.50 on Monday. The index closed down 115.33 points, or 1.5%, at 7,387.94 on Friday
"Today's European open looks set to be a negative one, after Asia markets also slid back, with little sign that Chinese leaders were contemplating shifting their zero-Covid policy," CMC Markets analyst Michael Hewson explained.
Millions of people in Beijing stayed home on Monday as China's capital tries to fend off a Covid-19 outbreak with creeping restrictions on movement.
Beijing residents fear they may soon find themselves in the grip of the same draconian measures that have trapped most of Shanghai's 25 million people at home for several weeks.
Officials there have said the eastern powerhouse city is winning its battle against China's worst outbreak since the pandemic began. Yet the Shanghai lockdown has intensified, causing outrage and rare protest in the last major economy still glued to a zero-Covid policy.
Brent oil was quoted at USD112.63 a barrel …