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 HAPPY INDEPENDENCE DAY - ENJOY YOUR JULY 4TH

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Cruise Lines Place Ships on the for Sale List.

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As reported in my earlier predictions for the cruise industry during / post coronavirus - many of my predictions are coming true including the premature scrapping of cruise ship well before their time.
Read Prior Cruise Industry Prediction articles



Carnival Corporation announced that up to 6 ships will be sold / scrapped in between now and the end of the month.

Already the Costa Victoria, of Carnival Corp's Costa Cruises,  which was supposed to be used as an accommodation ship for shipyard workers has now reportedly been sold for scrap. Additional ships reported on the for sale list include the Carnival Fantasy class ships and in a surprise move the Carnival Sunrise, which just recently completed a massive $100M refit is on the for sale list for $350K.

Reports that Royal Caribbean has also placed a number of ships on the for sale list including the Grandeur of the Seas, Rhapsody of the Seas and the Empress of the Seas. 

In a recent interview, the President of Norwegian Cruise Li…
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PREDICTIONS: The Future of the Cruise Industry

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Here is my prediction of the future impacts of the coronavirus on the cruise industry in the months / years ahead.  Basically the damage has been done and it will be a long time before cruise passengers have confidence to return to the ships.

In the near term 1-6 months:
When cruise lines resume operations after a temporary suspension, a good number of their ships will remain laid-up. They just will NOT be able to fill all the ships right away.The number of cruise ports that prohibit cruise ship calls will increase. Bergen, Norway just joined the list of  destinations saying - "No Thanks" to the cruise lines. Ships will be laid up due to the lack of demand. Itineraries will be altered based on the health of those onboard. Potentially sick passengers will cause ports to be skipped or passengers to be quarantined. Cruise capacity in Europe will be ratcheted back significantly.Additional cruise lines will sporatically lay up ships, especially in seasons where demand…
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Genting Hong Kong Restructuring - Potentially Star Cruises, Dream Cruises and Crystal Cruises Impacted.

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Genting Hong Kong has suspended all payments to creditors, sparking a 33% drop in the company’s share price. Genting cited COVID-19’s impact on its operations  — which include Dream Cruises, Star Cruises and Crystal Cruises — for the cash crunch, in a statement to the Hong Kong stock exchange Wednesday night.‘The Group has undertaken a number of cost reduction and cash conservation measures to mitigate the effects of the resultant loss of revenues from its operations,’ the statement said. The company owed a total of $3.4bn as of July 31.Bank fees due on newbuildsOn August 17, Dream Global One Ltd and Dream Global Two Ltd (subsidiaries of Genting HK) were required to pay bank fees amounting to  €3.7m in connection with the financing of the construction of ‘certain ships’, said the company statement. Those fees were not paid.Earlier this month Genting warned of a year delay in deliveries of Crystal Endeavor and Global Dream both under construction at own yards MV Werften and severely  r…
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