Cruise Industry: Carnival, cruise ship Triumph operator, cuts earnings forecast

Carnival Corp., the cruise operator beset by mishaps at sea this year, cut its annual earnings forecast to reflect costs from an engine fire that crippled the Carnival Triumph last month.

Earnings excluding some items this year won't exceed $2.10 a share, Miami-based Carnival said today in a statement, less than the $2.40 seen previously. The Triumph debacle, which left 3,100 passengers stranded at sea for four days, was the first of at least three incidents this year on separate ships, including the Dream and the Legend the past two days.

The Triumph disaster, along with repairs and fleet-wide upgrades to avert similar failures, will boost costs this year for Carnival, which is cutting prices to attract passengers. Bookings for the largest cruise operator have recovered since the Triumph mishap, aided by discounts, Chairman and Chief Executive Officer Micky Arison said on a conference call.

Read more: Carnival, cruise ship Triumph operator, cuts earnings forecast

Italy cruise ship passengers file $528 million US lawsuit

Thirty-nine survivors of the Costa Concordia cruise ship that capsized off Italy last month filed an amended lawsuit in Florida state court Tuesday seeking more than half a billion dollars in damages.

The suit filed against Miami-based Carnival Cruise Lines Inc., and its subsidiary Costa Cruise Line -- which owns the Costa Concordia -- seeks $78 million in damages and $450 million in punitive damages.

The defendants "acted in a severely reckless and willful, wanton manner, with complete disregard for the safety, lives and well being of the plaintiffs," said Marc Bern, a lawyer representing the passengers.

For more: AFP: Italy cruise ship passengers file $528 million US lawsuit