Tuesday’s Baltimore bridge collapse may marginally affect the world’s largest cruise company.
All vessel traffic has been halted at Baltimore’s port, stopping both containerships and cruise ships.
Josh Weinstein, the CEO of Carnival, addressed the incident at the start of Wednesday’s earnings call, thanking emergency services and the Coast Guard. Noting the “fluid” situation, he said the port closure’s impact was not factored into full-year guidance or the earnings presentation, which covered the three months ending February 29.
“We expect the situation to have less than a $10 million impact on a full-year guidance,” Weinstein said.
The company said it secured a temporary home port in Norfolk, Virginia, for as long as needed, which should minimize operational changes. One of its cruises, the Carnival Legend, departed on Sunday for a seven-day round trip from the Baltimore port and will return instead to Norfolk. Its passengers will be bussed back to Baltimore, Weinstein said.
Without factoring in the collapse, Carnival’s adjusted …