New Waste Management Technologies for Cruise Ship Industry Promoting Sustainability

FinancialNewsMedia.com News Commentary

PALM BEACH, Florida, Jan. 30, 2020 /PRNewswire/ -- A report from the world's largest cruise industry association said that according to the analysis, cruising sustained 1,177,000 jobs equaling $50.24 billion in wages and salaries and $150 billion total output worldwide in 2018. The figures through 2019 grew even higher. Their report also finds a focus on an industry-wide commitment to responsible tourism practices, with a focus on environmental sustainability and destination stewardship. The report highlights the industry's $22 billion investment in the development of new energy efficient technologies, partnerships with local governments in key destinations, and a commitment to reducing its rate of carbon emissions by 40% by 2030 compared to 2008. "While demand for cruising has reached new heights, the cruise industry is accelerating our efforts to be a leader in responsible tourism," said Kelly Craighead, president and CEO, CLIA. "Our members are at the forefront of best practices designed to protect the sanctity of the destinations we visit and enhance the experiences of travelers and residents alike." Active companies in the markets this week include BioHiTech Global, Inc. (NASDAQ: BHTG), Carnival Corporation & Plc (NYSE: CCL) (NYSE: CUK), Royal Caribbean Cruises Ltd. (NYSE: RCL), Tesla, Inc. (NASDAQ: TSLA), Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH).

Another industry origination reported on waste management and sustainably improvements for the cruise industry. It said: "While cruise ships comprise far less than 1 percent of the global maritime community, cruise lines are at the forefront in developing responsible environmental practices and innovative technologies that lead in environmental stewardship. The cruise industry participates in regional ocean planning efforts with maritime stakeholders and provides direct input and feedback to address ocean management challenges and the sustainable use of oceans. Cruise lines carefully follow waste management and recycling practices (link to Waste Management Policy) to prevent waste in oceans. Due to the efforts of highly trained waste management professionals onboard, some cruise ships repurpose 100 percent of the waste generated onboard — by reducing, reusing, donating, recycling and converting waste into energy."

BioHiTech Global, Inc.  (NASDAQ:BHTG) BREAKING NEWS:  BioHiTech Global to Provide Its Revolution Series Digesters and Data Analytics Platform to Carnival Corp in a Purchase Contract worth up to $14 Million  - BioHiTech Global, a technology and services company that provides cost-effective and sustainable waste management solutions, announced today that the Company will provide its Revolution Series™ Digesters and data analytics platform to certain Carnival Corporation ("Carnival") ships, in a purchase contract in which Carnival can potentially acquire several hundred units.  

Under the terms of the contract, BioHiTech will provide each ship designated by Carnival with multiple Revolution Series Digesters as well as ongoing cloud-based data analytics and supplies.  BioHiTech's Revolution Series Digesters will help reduce the environmental impact of Carnival's operations by safely disposing of food waste on-site, limiting the amount of greenhouse gases emitted from conventional processing systems. The Company's data analytics platform will also provide real-time supply chain transparency to help in Carnival's food waste reduction efforts. 

"We are excited to partner with the team at Carnival to assist in their ongoing efforts to reduce greenhouse gasses and achieve important sustainability goals," said Frank E. Celli, CEO of BioHiTech. "We are committed to helping businesses reduce their environmental impact through smarter technology and believe this partnership is part of a growing trend toward the adoption of our sustainable solutions by companies all over the world. We look forward to providing Carnival with the tools and support to move to the forefront of sustainability in the cruise industry." Read this full announcement and more news for BHTG at: https://www.financialnewsmedia.com/news-bhtg/ 

In recent news and developments in the markets: 

Carnival Corporation & Plc (NYSE: CCL) (NYSE: CUK) the world's largest leisure travel company, today announced it is among the first companies to join the United Nations' Standards of Conduct for Business, a global campaign seeking to tackle discrimination against lesbian, gay, bi, trans & intersex (LGBTI) people in the workplace and in society. Carnival Corporation joins 272 major corporations as early supporters of the LGBTI diversity and inclusion initiative.

The United Nations Human Rights Office collaborated with the Institute for Human Rights and Business to develop the five pillars comprising the Standards of Conduct, reflecting the input of hundreds of companies from diverse business sectors. These principles align closely with Carnival Corporation's 2020 sustainability goals, including an ongoing commitment to building a diverse global workforce that currently represents over 150,000 employees from nearly 150 countries.

Royal Caribbean Cruises Ltd. (NYSE: RCL) commented on the ongoing coronavirus outbreak and announces the date of their 4^th quarter earnings call. As has been widely reported, China has moved aggressively to contain the spread of the virus. As a result of these measures, and after consultation with national and local health authorities, the company has cancelled three sailings through Feb 8^th, on the high yielding Spectrum of the Seas, currently its only ship homeported in China.  The company estimates that this (which included the Chinese new year's cruises) will impact 2020 financial results by approximately $0.10 per share. If the travel restrictions in China continue until the end of February, the company estimates that this would further impact its results by an additional $0.10 per share.

Tesla, Inc. (NASDAQ: TSLA) on January 29, the company released its financial results for the fourth quarter and full year ended December 31, 2019 by posting an update on its Investor Relations website. Please visit http://ir.tesla.com to view the update.

Tesla, Inc. designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles. It also provides electric vehicle powertrain components and systems to other manufacturers; and services for electric vehicles through its company-owned service centers, Service Plus locations, and Tesla mobile technicians. This segment sells its products through a network of company-owned stores and galleries. The Energy Generation and Storage segment offers energy storage products, such as rechargeable lithium-ion battery systems for use in homes, commercial facilities, and utility grids; designs, manufactures, installs, maintains, leases, and sells solar energy systems to residential and commercial customers; and sell renewable energy to residential and commercial customers. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was founded in 2003 and is headquartered in Palo Alto, California.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) recently reinforced its commitment to advancing the Company's Environmental, Social and Governance (ESG) strategy with the creation of a new function focusing exclusively on ESG initiatives. The department will be led by long-time Company leader and cruise industry veteran Andrea DeMarco who was recently appointed Senior Vice President, ESG, Investor Relations and Corporate Communications.

"We are committed to driving a positive impact on society and the environment through the advancement of our global ESG strategy with the creation of a team dedicated to this task," said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. "It is critical for companies to take an active approach to ESG and our expanded leadership and allocation of resources will help to coordinate our Company-wide sustainability efforts."  

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