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Carnival Stock Is Not Out Of The Woods Yet
Posted February 1, 2012
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By Little Apple
When the Costa Concordia ran aground and tipped over a few weeks ago most people were completely stunned. How could a modern day cruise ship have a "Titanic Like" accident. At the time I wrote an article stating that I thought Carnival (CCL) the parent company of the Costa Concordia would survive. And nothing has happened to change my opinion about that. However there are a lot of things that will determine if they will ever thrive again. The first thing is to convince potential customers and that Carnival can be trusted with their safety and the safety of the environment. Now according to new reports the unthinkable is happening, oil is beginning to leak from the ship. They must get the 2300 tons of fuel out of that ship before it "spews into Europe's biggest marine park":
The ship is lying on its side off Giglio, an island of 1,500 inhabitants in winter who survive on fishing and tourism, located about 14 miles from the Tuscan coast. Giglio lies within the "Santuario dei Cetacei," an area of roughly 87,500 square kilometers that in 1999 was declared by the governments of France, Italy and Monaco a sanctuary for marine mammals such as dolphins and whales. READ FULL ARTICLE HERE
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