Select Cruise Lines Suspend Operations, Stocks Plummet, President Addresses the Nation.
Princess Cruises - Temporarily Suspends Operations - Video Jan Swartz
The heightened awareness around the coronavirus has been amplified by President Trump's address to the nation on 3/11/20. The speech, which did not instill confidence in the public, has caused an already devastated cruise industry to take further blows.
Here is a synopsis of the changes in the past 24 hours.
While addressing the nation on 3/11/20 President Trump imposed the following:
- No foreign nationals from European countries will be permitted into the US. Exception: UK Residents.
- American Citizens traveling to most of Europe will need to self- quarantine themselves for a 2 week periods following their return to the US.
The majority of European cruises are filled by American Citizens - with the new ruling, cruise cancellations spiked significantly.
In reverse, many Europeans travel to Florida to embark on Caribbean Cruises. With the changes above they will NOT be permitted into the country - leading to more cancellations.
In addition, the European City of Bergen, Norway has prohibited any cruise passenger from disembarking into the city for the foreseeable future. The ban will allow ships to stop to load supplies, refuel and make technical calls - but prohibits crew and visitors from going on shore.
- Princess Cruises announced that it will voluntarily pause global operations of its 18 cruise ships for two months (60 days), impacting voyages departing March 12 to May 10. Princess stated that current, in progress cruises that extend past 3/12 will be terminated at the most convenient port for passengers to disembark and return home.
- Viking and Ocean River Cruises announced it will temporarily suspend river and ocean cruise operations until May 1, 2020 in response to the coronavirus COVID-19 situation. Viking will lay up a total of 79 river and ocean going vessels.
- New Cruise Line entrant - Virgin Voyages, who announced their inaugural festivities in Miami have been cancelled earlier in the week, have announced they were delaying the entry of their new ship - the Scarlet Lady. The Scarlet Lady is currently in Miami and was supposed to start sailing in early April. Her maiden voyage has now been pushed back to August 7, 2020. Virgin Voyages announced that prior to the August Maiden Voyage, the ship would be introduced to the media and press.
- Norwegian Cruise Line management was accused of pressuring sales agents to downplay the coronavirus to potential cruise passengers by providing false information to potential guests to minimize the risk.
- Cruise Lines Stock Plummeted.
- Carnival dropped 31.17% to finish the day at $14.97
- Royal Caribbean dropped 31.76% to finish the day at 30.27
- Norwegian Cruise Line dropped 35.67% to finish the day at $9.65
Check back daily for fact and not the hype.
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