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Sinking of Costa Concordia 'costs Carnival $95m'

16 January 2012 Last updated at 15:29 GMT

The sinking of the Costa Concordia could cost parent firm Carnival up to $95m (£62m; 75m euro), the firm has said in a statement.

Carnival shares fell 18% in early trading after it said it expected the loss of earnings from the capsizing to be between $85m and $95m.

The ship ran aground on Friday night off Italy's coast, killing six people.

Travel expert Simon Calder told the BBC the company will be worried about forward bookings.