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Topics - Host Mike

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Cruising Chatter / Why Cruise Line Stocks Plunged Again Today
« on: July 01, 2022, 04:00:56 PM »
"On Wednesday, Morgan Stanley analyst Jamie Rollo said in a report that he was worried that cruise line companies could ultimately face insolvency if their business conditions don't improve soon. And on Thursday, Citi leisure and travel sector analyst James Hardiman said during an interview on Yahoo! Finance Live that cruise companies are facing "some pushback on pricing," especially as ships get closer to operating at full capacity.

At the same time, operators are facing higher expenses due to rising labor costs, high fuel prices, and rising interest rates. So it's understandable that the market is skeptical about their futures."

Cruising Chatter / Quantum of the Seas Engine Issue
« on: July 01, 2022, 03:55:36 PM »
"The email reads, “Due to a speed limitation caused by a technical issue with one of the ship’s engines, we’ve reduced our speed between ports and as a result, we’ve adjusted some of our arrival and departure times in Alaska and British Columbia.”

"Morgan Stanley analysts slashed their base case price target to $7, according to Bloomberg, and maintained an Underweight rating on the stock. In a worst, or “bear case” scenario, Carnival’s (ticker: CCL ) price could reach zero, they added."

"A Carnival spokesperson said the company was “making strong progress” as it continued to restart its fleet around the globe.

“There is pent-up demand for cruising and our occupancy levels continue to rise with our Carnival Cruise Line brand at 100% last quarter and forecasting 110% occupancy for the third quarter,” the spokesperson said in an emailed statement."

"The word evokes visions of a megaship, noisy and full of kids, he said, adding that the Viking product is different. It's for that reason that Hagen is stripping "cruising" from the brand's name."

"Hagen pointed me to a list of reasons Viking is unlike other ocean-oriented vacation brands: No kids under 18, no casinos, no umbrella drinks, no inside staterooms and no formal nights. The list goes on, like no charges for WiFi or laundry."

"Overall, Starlink has blown my cruising Wi-Fi expectations out of the water."

"Celebrity Cruises will allow solo cruisers to sail at the same rate as those who book double occupancy on nearly 300 cruises to the Caribbean, Alaska, and Europe through next March."

"Norwegian Cruise Line canceled the remainder of the Norwegian Escape sailing that was scheduled to end Saturday after the vessel collided with the channel bed in Puerto Plata in the Dominican Republic on Monday."

"The cruise line said in a statement that "while there is minor damage to the ship's hull, all guests and crew are safe. The current cruise will be shortened, and the cruise scheduled to embark on March 19 will be canceled so that the necessary repairs can be made."

"MANHATTAN (PIX11) — A dance-floor brawl broke out on a Carnival cruise ship early Tuesday, prompting police to meet the vessel ahead of its scheduled Manhattan docking, authorities and officials said."

"Barcelona has long struggled with the pressures of over-tourism, and cruise ships are particularly resented. In 2019, the city suffered the highest levels of pollution from mega-ships emitting sulfur oxides and nitrogen oxides of any European port. Their passengers, meanwhile, arrive in large groups that cause spikes in congestion while contributing relatively less to the economy because they don’t pay for accommodation and often only visit briefly.  "

"NEW YORK – Attorney General James along with 45 attorneys general today recovered $1.25 million from Carnival Cruise Line (Carnival) for compromising the personal information of thousands of employees and consumers because of poor internal security practices."

"North American travelers can book a Princess cruise with just a $1 deposit during a promotion from June 30 to July 5."

"Unfortunately, one cruise operator went a wee bit–er–overboard and ordered a giant 9,000-passenger ship that was set to take its maiden voyage early last year. And then it went bankrupt. Now, the Global Dream II will be ripped apart, its fixtures and engines sold and the rest scrapped."

“Due to recent staffing levels onboard Pride of America, we will be operating at a lower guest capacity to ensure we are able to deliver a high-caliber vacation experience,” Norwegian explained in the letter.

“Unfortunately, we are unable to accommodate your upcoming reservation aboard the Pride of America and will be cancelling your current booking,” it continues."

"At this time, there has been no official assessment of the damage to Norwegian Sun, but the ship is continuing toward Juneau, albeit at a much slower speed than typical.

Passengers on the vessel reported very heavy fog conditions on Friday, which would have caused the ship to slow significantly as a safety precaution.

The vessel may have hit the iceberg in such a way to have caused propeller, engine, or hull damage. Growlers – small, low icebergs that may be the size of pianos or trucks – are relatively common in the area."

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