Posted on 04/18/2020 3:04:57 PM PDT by Capt. Tom
Despite mass cancellations of voyages, Miami-based Carnival Corporation, Royal Caribbean Cruises Ltd. and Norwegian Cruise Line Holdings — the three largest cruise companies — have raised enough cash to last at least 10 cruise-less months, according to analysts. The fourth largest, MSC Cruises, is privately held.
But will people want to cruise again after thousands have been infected with COVID-19 after cruises and dozens have died? That’s the million dollar question, said Rockford Weitz, director of the Fletcher School Maritime Studies Program at Tufts University.
Travel agents say they are seeing a steady stream of bookings for 2021, according to The Points Guy and industry publication Travel Weekly. Some of those are re-bookings using future credits offered by companies to passengers who saw their vacations canceled due to the pandemic.
Cruise companies were shut out of the federal coronavirus stimulus bill in late March because they claim U.S. tax exemption by incorporating overseas. Carnival Corp. is a Panamanian company, Royal Caribbean Cruises a Liberian company, and Norwegian Cruise Line a Bermudan company. All register their ships abroad, too.
Still, they have managed to buy time through capital markets, as well as through reducing expenses. Carnival has raised nearly $6 billion through new debt and equity positions. Among those purchasing stakes was Saudi Arabia’s Public Investment Fund. Royal Caribbean has also drawn on about $3.5 billion from existing credit instruments. Royal Caribbean laid off 26% of its U.S. staff Wednesday. Norwegian Cruise Line has made pay cuts.
(Excerpt) Read more at miamiherald.com ...
A couple of years after she retired, my mother went on an Alaskan cruise with my sister and her husband, and she had a blast. Me? Not so much. I’m reaching the point where I told my wife, if we can’t drive there in a day, it’s off the table. I give it about an 800 mile radius behind the wheel, tops. I’m not a big people person and she gets anxiety attacks if we even go to a concert with more than a few hundred people around. It took her two glasses of wine and a lorazepam to enjoy the last Trans-Siberian Orchesta concert we attended, and they usually pull in 9K to 10K per crowd.
“But will passengers come back?”
Make the price right and we will. Once this damn thing is over I look forward to booking a trip at a very reduced price as they try to get customers back. If the price is right I might book a suite. I have never done this in the past due to cost.
I assume you mean "credit", not refund. It's been pretty standard for cancelled cruises to give 125%-150% credits that are good through 2021 with the hope you don't demand a refund. I would probably want more than 125%, and if you call to cancel, I wouldn't be surprised if they offer you more, or throw in a couple other upgrades or perks. Of course if they fold you are left holding the bag.
I think that is good and I hope something like that can happen for the large concert venues I like to attend in the summer. I wonder if they had overhead temp screening in the Norwegian terminal that we did not see.
I do mean credit and I will try to get them up to 150%. Thanks.
Passengers will only come back after a near-perfect vaccine.
90% off fares won’t hurt either.
I will!
My family did an Alaska cruise a few years ago and it was very special. Use your refund to rebook.
As of last year passport not needed on cruise to Bermuda. Girlfriend didn’t have one. However the only way to get back into US is on that boat.. Policy has not changed as far as I know.
Never heard of that before. Bermuda must be the ONLY one, but when we went 30 years ago, we needed one!
What cruise line were you on?
I will NEVER go on another one, but I had reached that conclusion back in Oct. of 2019 after I took one and my sister and I caught the flu.
Scheduled to leave end of May from Boston to Bermuda. If state still isn’t shut down( not expecting it to be, MA isn’t NY but a still a hot spot) I’m willing to go. GF is on the fence, I’m pretty sure she’ll fold and we’ll end up rescheduling
People have short memories.
Viruses have a lifecycle and peter out through natural processes (despite Anthony Fauci pretending he does not know this).
Life quickly got back to normal after the 1917 pandemic.
Norwegian. I checked policy again in January still the same.
We’re supposed to leave again end of May,not holding my breath
Valid driver license, certified birth certificate needed, plus signed waiver acknowledging can’t get back into US unless on that boat on that trip
Tell your girlfriend to get a PASSPORT just in case you want to go somewhere else OR she breaks her leg in Bermuda , misses the ship and has no way to get back into the states. Is she older than 18?
I just saw webcams of Florida beaches and there seemed to be cruise ships on the water.
Yeah, our 12 day HAL Alaskan cruise in September got cancelled. We’ve already rebooked for next May.
“Yes, the customers will be back.”
Agree. I know tons of smart, hard-working, college educated people who love cruises. Nothing will stop them. The fresh ocean air will keep the ship clean.
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