Carnival Corp. execs must work faster to address ocean pollution: judge
Hennessy Equity Fund portfolio manager Mark Devaul discusses why he is bullish on some of the companies within the Dow Jones transportation index and Carnival.
Carnival Cruise line executives are not working fast enough to address ocean pollution issues, a federal judge said Wednesday.
Carnival Corp. CEO Arnold Donald and Chairman Micky Arison, who owns the Miami Heat, were in federal court in Miami on Wednesday afternoon, when they were told they must work faster.
Earlier this year, Carnival — the world's largest cruise line — admitted violating probation from a 2016 criminal pollution case as its ships continued to cause environmental harm around the world. It was hit with a $20 million penalty, on top of a $40 million fine imposed in the original case.
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A judge has since enlisted the help of a court-appointed monitor to keep a watchful eye on the company’s efforts.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CCL | CARNIVAL CORP. | 18.77 | +0.40 | +2.18% |
Carnival operates more than 100 ships across nine cruise brands and sails to more than 700 destinations.
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The Associated Press contributed to this story.