Cruise Share Prices Plunge As Italy Cases Spark Med Fears

Cruise Week

Diamond Princess is no longer the poster boy for coronavirus, but the bad news from Italy with five coronavirus deaths, as the numbers of infected cases there climbed into the hundreds, is seen as having repercussions for travel to the Med in particular.

Hence, cruise stocks got hammered in heavy trading yesterday morning, with sharp declines surpassing the average drop-off of the stock market.

By mid-morning, Royal Caribbean had dropped by more than 6.7% to below US$100 per share, Carnival Corp. dropped 6.8% to below US$40 per share, and NCLH had dropped by 8.5% to under US$43 per share.

Meanwhile, agents report deals are now beginning to come in from the big ship brands.

For instance, Carnival Cruise Line is promoting a $49 per day per person rate in a limited time sale. NCL is promoting "The Biggest Sale of the Decade" with 30% off all cruises. That deal includes free open bar, specialty dining, excursions, and WiFi.

Royal Caribbean is offering up to $450 in instant savings and 60% off for second guest in a stateroom.

For a few tertiary small-ship lines, retailers report being told of some "rates we cannot publish but can talk about." However, nothing like that is being reported involving the leaders such as Seabourn, Silversea, Regent and Oceania.

On the positive side, over the weekend the Centers for Disease Control reported that the 83-year-old American woman who had earlier tested positive for coronavirus in Kuala Lumpur after departing the Westerdam in Cambodia in fact did not actually not have coronavirus. So there were actually no cases confirmed among Westerdam staff and crew.

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