Carnival’s Limited Orderbook to Drive Demand

That’s one ship delivery in 2025, none in 2026, and one ship in each of 2027 and 2028. This limited orderbook should also position us well to continue to create demand in excess of capacity growth,” he noted. Those orders include the Star Princess in 2025, followed by newbuilds for Carnival Cruise Line in 2027 and 2028.

“We have just three (new) ships spread over the next four years,” said Josh Weinstein, CEO of Carnival Corporation, speaking on the company’s third quarter earnings call.

“That’s one ship delivery in 2025, none in 2026, and one ship in each of 2027 and 2028. This limited orderbook should also position us well to continue to create demand in excess of capacity growth,” he noted.

Those orders include the Star Princess in 2025, followed by newbuilds for Carnival Cruise Line in 2027 and 2028.

“We have almost no capacity growth. So all of that increased demand is just going to result in who wants pay the most to get on our ships, and that’s what we’re driving for,” he said.

Weinstein said the orderbook was set through 2028 and the company felt “very good about that.”

He did reveal the company’s next lineup of Carnival newbuilds, ordered over the summer, are carrying the code name Project Ace.

“That doesn’t start until 2029,” he said “So, the focus of all that EBITDA generation is really its cash flow and we’re going to use the headroom with a reduced capital expenditures to pay down debt.”