CARNIVAL CORP CUTS FLEET

The Carnival Corp. Valor cruise ship sits docked at the Port of Galveston in Galveston, Texas, U.S., on Thursday, Feb. 16, 2017. The U.S. Census Bureau is scheduled to release international trade balance figures on March 7. Photographer: Luke Sharrett/Bloomberg via Getty Images

Carnival Corp is cutting its fleet by 13 ships. It sold one ship last month and the sale of four other ships has been announced. Now the company has agreements for the disposal of five ships plus an additional three ships are expected to leave the fleet in the next 90 days.

Also, Carnival will not take all its new ship deliveries as previously scheduled.

“The company currently expects only five of the nine ships originally scheduled for delivery in fiscal 2020 and fiscal 2021 will be delivered prior to the end of fiscal year 2021,” a company statement said.

With a leaner fleet it reckons it there will be demand to fill the reduced capacity, especially with a phased restart.

“We are well-positioned to optimize the pent-up desire for travel around the world,” CEO Arnold Donald said.

“We expect demand to be more than adequate to fill ships in a staggered restart. We will emerge a leaner, more efficient company.”