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Carnival Spending $300 Million to Upgrade Ships

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Carnival (NYSE: CCL  ) (NYSE: CUK  ) has launched an "enhancement program" that will total hundreds of millions of dollars. The investments will be directed at boosting the safety of its ships and include modifications that the company says will "enhance emergency power capabilities, introduce new fire safety technology, and improve the level of operating redundancies" throughout Carnival's 24-strong fleet.

The firm will also establish a safety and reliability review board, a five-member body of outside experts that will monitor those aspects of the company's operations.

The initiative comes barely two months after one of Carnival's ships, the Triumph, went adrift in the Gulf of Mexico following an engine fire.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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10/8/2015 4:00 PM
CCL $49.62 Up +0.37 +0.75%
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