port development project in Ensenada, Mexico. Reports in late June 2019 stated that Carnival was building their first terminal in Japan, in the port city of Sasebo, to be named Uragashira Cruise Terminal. Local officials were hoping that the terminal would be open by late July 2020. 2020s In 2020, due to the effects of the COVID-19 pandemic, Carnival Fantasy, Carnival Imagination, Carnival Inspiration were all sold for scrapping. Carnival Fascination was initially sold to another line, only to be resold for scrapping a year later. In June 2021, it was announced that the Costa Magica would move from Costa Cruises to the Carnival fleet, and would receive a new name and the updated Carnival livery. On the same day, Carnival also announced that an Excel class ship previously under construction for AIDA Cruises would be transferred to Carnival. Later in the year, the name was revealed to be Carnival Jubilee. On July 31, 2021, after numerous delays, the highly anticipated Mardi Gras entered service, sailing year round from Port Canaveral. In early 2022, Carnival would announce the retirement of Carnival Sensation and Carnival Ecstasy, with Sensation being sold for recycling immediately, and Ecstasy remaining in the fleet until October 2022. In June 2022, it was announced that Costa Luminosa would join the fleet as Carnival Luminosa replacing the previous announced plans of moving Costa Magica which would remain with Costa. It was further announced in June 2022, that Carnival would create a new concept with Costa Cruises, dubbed Costa by Carnival to bring over Costa Venezia and Costa Firenze and have the pair sail under the Carnival brand, while retaining their Costa names and livery. Both ships will join the Carnival fleet in 2023 and 2024 respectively. On October 21, 2022, Carnival released renderings of the ships and announced that the ships would get Carnival names, becoming Carnival Venezia and Carnival Firenze. In December 2022, Carnival announced it had been forced to delay the debut of Carnival Jubilee from October 2023 to December 2023 because of ongoing supply chain issues at the Meyer Werft shipyard. Leadership Carnival has had five Presidents in its nearly 50-year history. Effects of COVID-19 pandemic In a filing with regulators, the company stated that as of July 31, 2020, it had $7.9 billion in "cash and cash equivalent" available. An industry news item estimated that this would enable Carnival to continue operating for roughly