Higher fuel prices force Carnival's hand, Micky Arison says

“Some things take huge investments to make them happen”

Carnival Corp. will pay an extra $600 million for fuel this year at current prices, and only 25 percent to 40 percent of that will be recovered by a $7-a-day fuel charge on the majority of its passengers, company Chairman Micky Arison said Tuesday at the annual meeting in Coral Gables. On Monday, Carnival raised its fuel surcharge from the $5 per person per day announced in November. Arison said the intent was to pass through a part of the oil increase to passengers. 'It's a combination of what the cost of fuel is and what the market will bear,' he said of setting the rate. Read more